Vinum-S: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Vinum-S
Largest movements
- Stocks and contracts +€120,161
up €120,161 (+23.7%), from €505,959 to €626,120
- Receivables within one year -€33,825
down €33,825 (-6.9%), from €491,079 to €457,254
of which Trade receivables: -€95,541
- Other debts +€205,256
up €205,256 (+52.8%), from €389,000 to €594,256
- Tax, wage and social debts -€99,780
down €99,780 (-97.7%), from €102,107 to €2,326
of which Taxes: -€77,280
- Debts after one year +€50,918
new in 2025: €50,918
- Reserves -€43,330
down €43,330 (-12.0%), from €360,722 to €317,392
- Accrued charges and deferred income -€35,942
no longer reported in 2025 (was €35,942)
- Gross operating margin -€190,327
down €190,327, from €154,366 to -€35,961
- Financial charges -€47,739
down €47,739 (-90.7%), from €52,614 to €4,875
- Taxes -€22,402
no longer reported in 2025 (was €22,402)
- Staff costs -€20,705
down €20,705 (-92.0%), from €22,500 to €1,795
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,003,158 | €1,083,709 | +€80,551 | +8.0% |
| Fixed assets | 21/28 | €103 | - | -€103 | |
| Tangible fixed assets | 22/27 | €103 | - | -€103 | |
| Furniture and vehicles | 24 | €103 | - | -€103 | |
| Current assets | 29/58 | €1,003,055 | €1,083,709 | +€80,654 | +8.0% |
| Stocks and contracts in progress | 3 | €505,959 | €626,120 | +€120,161 | +23.7% |
| Stocks | 30/36 | €505,959 | €626,120 | +€120,161 | +23.7% |
| Amounts receivable within one year | 40/41 | €491,079 | €457,254 | -€33,825 | -6.9% |
| Trade receivables | 40 | €97,128 | €1,587 | -€95,541 | -98.4% |
| Other amounts receivable | 41 | €393,951 | €455,667 | +€61,715 | +15.7% |
| Cash at bank and in hand | 54/58 | €6,017 | €335 | -€5,682 | -94.4% |
| Total equity and liabilities | 10/49 | €1,003,158 | €1,083,709 | +€80,551 | +8.0% |
| Equity | 10/15 | €366,922 | €323,592 | -€43,330 | -11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €360,722 | €317,392 | -€43,330 | -12.0% |
| Distributable reserves | 133 | €360,722 | €317,392 | -€43,330 | -12.0% |
| Amounts payable | 17/49 | €636,236 | €760,117 | +€123,881 | +19.5% |
| Amounts payable after more than one year | 17 | - | €50,918 | +€50,918 | |
| Financial debts | 170/4 | - | €50,918 | +€50,918 | |
| Amounts payable within one year | 42/48 | €600,294 | €709,199 | +€108,905 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,082 | +€9,082 | |
| Financial debts | 43 | - | €9,488 | +€9,488 | |
| Credit institutions | 430/8 | - | €9,488 | +€9,488 | |
| Trade debts | 44 | €109,188 | €94,046 | -€15,142 | -13.9% |
| Suppliers | 440/4 | €109,188 | €94,046 | -€15,142 | -13.9% |
| Taxes, remuneration and social security | 45 | €102,107 | €2,326 | -€99,780 | -97.7% |
| Taxes | 450/3 | €79,607 | €2,326 | -€77,280 | -97.1% |
| Remuneration and social security | 454/9 | €22,500 | - | -€22,500 | |
| Other amounts payable | 47/48 | €389,000 | €594,256 | +€205,256 | +52.8% |
| Accrued charges and deferred income | 492/3 | €35,942 | - | -€35,942 | |
| Remuneration, social security and pensions | 62 | €22,500 | €1,795 | -€20,705 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,140 | €103 | -€1,037 | -91.0% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Non-recurring operating charges | 66A | €68 | €113 | +€44 | +64.4% |
| Gross operating margin | 9900 | €154,366 | -€35,961 | -€190,327 | |
| Operating profit (loss) | 9901 | €129,550 | -€39,114 | -€168,664 | |
| Financial income | 75/76B | €843 | €660 | -€183 | -21.8% |
| Recurring financial income | 75 | €843 | €660 | -€183 | -21.8% |
| Financial charges | 65/66B | €52,614 | €4,875 | -€47,739 | -90.7% |
| Recurring financial charges | 65 | €52,614 | €4,875 | -€47,739 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €77,779 | -€43,330 | -€121,109 | |
| Income taxes | 67/77 | €22,402 | - | -€22,402 | |
| Profit (loss) for the period | 9904 | €55,377 | -€43,330 | -€98,706 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,377 | -€43,330 | -€98,706 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.