VINV: 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.
VINV
Largest movements
- Cash +€40,938
up €40,938 (+78.6%), from €52,079 to €93,017
mainly Other debts (+€102,855) and Depreciation (+€75,974)
- Tangible fixed assets -€19,722
down €19,722 (-1.7%), from €1.2m to €1.2m
of which Land and buildings: -€83,849
- Other debts +€102,855
up €102,855 (+719.3%), from €14,300 to €117,155
- Debts after one year -€64,099
down €64,099 (-10.4%), from €617,808 to €553,709
- Gross operating margin -€111,207
down €111,207 (-53.3%), from €208,652 to €97,445
- Other operating charges -€29,798
down €29,798 (-71.4%), from €41,753 to €11,955
- Taxes -€16,973
down €16,973 (-72.3%), from €23,484 to €6,511
- Depreciation -€5,137
down €5,137 (-6.3%), from €81,111 to €75,974
- Financial income -€2,891
down €2,891 (-44.1%), from €6,561 to €3,670
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.
Cash bridge derived
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 | €1,314,696 | €1,339,992 | +€25,296 | +1.9% |
| Fixed assets | 21/28 | €1,184,935 | €1,165,213 | -€19,722 | -1.7% |
| Tangible fixed assets | 22/27 | €1,182,207 | €1,162,485 | -€19,722 | -1.7% |
| Land and buildings | 22 | €1,172,436 | €1,088,587 | -€83,849 | -7.2% |
| Plant, machinery and equipment | 23 | €5,560 | €4,842 | -€718 | -12.9% |
| Furniture and vehicles | 24 | €1,211 | €60,095 | +€58,883 | +4861.0% |
| Other tangible fixed assets | 26 | €3,000 | €8,962 | +€5,962 | +198.7% |
| Financial fixed assets | 28 | €2,728 | €2,728 | = | 0.0% |
| Current assets | 29/58 | €129,762 | €174,779 | +€45,018 | +34.7% |
| Amounts receivable within one year | 40/41 | €17,142 | €7,981 | -€9,161 | -53.4% |
| Trade receivables | 40 | €17,142 | €4,581 | -€12,562 | -73.3% |
| Other amounts receivable | 41 | - | €3,400 | +€3,400 | |
| Current investments | 50/53 | €60,541 | €73,781 | +€13,241 | +21.9% |
| Cash at bank and in hand | 54/58 | €52,079 | €93,017 | +€40,938 | +78.6% |
| Total equity and liabilities | 10/49 | €1,314,696 | €1,339,992 | +€25,296 | +1.9% |
| Equity | 10/15 | €596,159 | €591,145 | -€5,015 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €320,192 | €320,192 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,895 | €2,895 | = | 0.0% |
| Distributable reserves | 133 | €317,297 | €317,297 | = | 0.0% |
| Profit (loss) carried forward | 14 | €257,375 | €252,360 | -€5,015 | -1.9% |
| Amounts payable | 17/49 | €718,537 | €748,848 | +€30,310 | +4.2% |
| Amounts payable after more than one year | 17 | €617,808 | €553,709 | -€64,099 | -10.4% |
| Financial debts | 170/4 | €617,808 | €553,709 | -€64,099 | -10.4% |
| Amounts payable within one year | 42/48 | €97,918 | €191,777 | +€93,859 | +95.9% |
| Current portion of amounts payable after more than one year | 42 | €62,974 | €63,227 | +€253 | +0.4% |
| Trade debts | 44 | €6,993 | €5,280 | -€1,714 | -24.5% |
| Suppliers | 440/4 | €6,993 | €5,280 | -€1,714 | -24.5% |
| Taxes, remuneration and social security | 45 | €13,652 | €6,116 | -€7,536 | -55.2% |
| Taxes | 450/3 | €13,652 | €6,116 | -€7,536 | -55.2% |
| Other amounts payable | 47/48 | €14,300 | €117,155 | +€102,855 | +719.3% |
| Accrued charges and deferred income | 492/3 | €2,811 | €3,362 | +€550 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,111 | €75,974 | -€5,137 | -6.3% |
| Other operating charges | 640/8 | €41,753 | €11,955 | -€29,798 | -71.4% |
| Gross operating margin | 9900 | €208,652 | €97,445 | -€111,207 | -53.3% |
| Operating profit (loss) | 9901 | €85,788 | €9,516 | -€76,272 | -88.9% |
| Financial income | 75/76B | €6,561 | €3,670 | -€2,891 | -44.1% |
| Recurring financial income | 75 | €6,561 | €3,670 | -€2,891 | -44.1% |
| Financial charges | 65/66B | €12,858 | €11,690 | -€1,169 | -9.1% |
| Recurring financial charges | 65 | €12,858 | €11,690 | -€1,169 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €79,491 | €1,496 | -€77,995 | -98.1% |
| Income taxes | 67/77 | €23,484 | €6,511 | -€16,973 | -72.3% |
| Profit (loss) for the period | 9904 | €56,007 | -€5,015 | -€61,022 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,007 | -€5,015 | -€61,022 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.