VINUS: 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.
VINUS
Largest movements
- Cash -€1.2m
down €1.2m (-98.3%), from €1.2m to €20,275
mainly Investment in fixed assets (net) (-€909,307) and Current investments (-€450,000)
- Tangible fixed assets +€731,971
up €731,971 (+420%), from €174,379 to €906,350
of which Plant, machinery and equipment: +€740,021
- Current investments +€450,000
new in 2025: €450,000
No liability line moved by more than 1% of the balance sheet total.
- Turnover +€118,108
up €118,108 (+149%), from €79,140 to €197,248
- Depreciation +€94,143
up €94,143 (+113%), from €83,193 to €177,336
- Financial income -€27,058
down €27,058 (-64.8%), from €41,724 to €14,666
- Financial charges -€4,393
down €4,393 (-75.8%), from €5,797 to €1,404
- Taxes -€4,349
down €4,349 (-42.0%), from €10,349 to €6,000
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 | €19,106,529 | €19,131,973 | +€25,444 | +0.1% |
| Fixed assets | 21/28 | €17,756,403 | €18,488,374 | +€731,971 | +4.1% |
| Tangible fixed assets | 22/27 | €174,379 | €906,350 | +€731,971 | +420% |
| Plant, machinery and equipment | 23 | €84,163 | €824,184 | +€740,021 | +879% |
| Furniture and vehicles | 24 | €90,216 | €82,166 | -€8,050 | -8.9% |
| Financial fixed assets | 28 | €17,582,024 | €17,582,024 | = | 0.0% |
| Affiliated companies | 280/1 | €17,582,024 | €17,582,024 | = | 0.0% |
| Participating interests | 280 | €17,582,024 | €17,582,024 | = | 0.0% |
| Current assets | 29/58 | €1,350,126 | €643,599 | -€706,527 | -52.3% |
| Amounts receivable within one year | 40/41 | €140,609 | €173,324 | +€32,715 | +23.3% |
| Trade receivables | 40 | €20,532 | €66,671 | +€46,139 | +225% |
| Other amounts receivable | 41 | €120,077 | €106,653 | -€13,424 | -11.2% |
| Current investments | 50/53 | - | €450,000 | +€450,000 | |
| Other investments | 51/53 | - | €450,000 | +€450,000 | |
| Cash at bank and in hand | 54/58 | €1,209,517 | €20,275 | -€1.2m | -98.3% |
| Total equity and liabilities | 10/49 | €19,106,529 | €19,131,973 | +€25,444 | +0.1% |
| Equity | 10/15 | €19,019,501 | €19,036,882 | +€17,381 | +0.1% |
| Contributions | 10/11 | €16,947,487 | €16,947,487 | = | 0.0% |
| Reserves | 13 | €2,072,014 | €2,089,395 | +€17,381 | +0.8% |
| Non-distributable reserves | 130/1 | €1,099,534 | €1,099,534 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,099,534 | €1,099,534 | = | 0.0% |
| Tax-exempt reserves | 132 | €758,656 | €529,031 | -€229,625 | -30.3% |
| Distributable reserves | 133 | €213,824 | €460,830 | +€247,006 | +116% |
| Amounts payable | 17/49 | €87,028 | €95,091 | +€8,063 | +9.3% |
| Amounts payable within one year | 42/48 | €87,028 | €95,091 | +€8,063 | +9.3% |
| Trade debts | 44 | €446 | €176 | -€270 | -60.5% |
| Suppliers | 440/4 | €446 | €176 | -€270 | -60.5% |
| Taxes, remuneration and social security | 45 | €86,582 | €94,915 | +€8,333 | +9.6% |
| Taxes | 450/3 | €86,582 | €94,915 | +€8,333 | +9.6% |
| Operating income | 70/76A | €79,140 | €197,248 | +€118,108 | +149% |
| Turnover | 70 | €79,140 | €197,248 | +€118,108 | +149% |
| Operating charges | 60/66A | €91,331 | €187,129 | +€95,798 | +105% |
| Services and other goods | 61 | €7,438 | €9,362 | +€1,924 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,193 | €177,336 | +€94,143 | +113% |
| Other operating charges | 640/8 | €700 | €431 | -€269 | -38.4% |
| Operating profit (loss) | 9901 | -€12,191 | €10,119 | +€22,310 | |
| Financial income | 75/76B | €41,724 | €14,666 | -€27,058 | -64.8% |
| Recurring financial income | 75 | €41,724 | €14,666 | -€27,058 | -64.8% |
| Income from current assets | 751 | €41,724 | €14,666 | -€27,058 | -64.8% |
| Financial charges | 65/66B | €5,797 | €1,404 | -€4,393 | -75.8% |
| Recurring financial charges | 65 | €5,797 | €1,404 | -€4,393 | -75.8% |
| Other financial charges | 652/9 | €5,797 | €1,404 | -€4,393 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €23,736 | €23,381 | -€355 | -1.5% |
| Income taxes | 67/77 | €10,349 | €6,000 | -€4,349 | -42.0% |
| Taxes | 670/3 | €10,349 | €6,000 | -€4,349 | -42.0% |
| Profit (loss) for the period | 9904 | €13,387 | €17,381 | +€3,994 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,387 | €17,381 | +€3,994 | +29.8% |
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 16 October 2026 via checked.be.