VINZENCO: what changed
Two fiscal 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.
VINZENCO
Largest movements
- Cash -€48,680
down €48,680 (-31.0%), from €157,164 to €108,484
mainly Contributions, distributions and other (-€78,030) and Debts after one year (-€33,394)
- Tangible fixed assets -€33,091
down €33,091 (-9.4%), from €352,045 to €318,953
of which Land and buildings: -€34,296
- Reserves -€71,984
down €71,984 (-36.6%), from €196,841 to €124,857
- Debts after one year -€33,394
down €33,394 (-17.7%), from €188,734 to €155,340
- Profit (loss) carried forward +€16,764
up €16,764, from -€16,764 to €0
- Tax, wage and social debts +€9,113
up €9,113 (+99.8%), from €9,129 to €18,241
of which Taxes: +€9,095
- Gross operating margin +€34,480
up €34,480 (+67.3%), from €51,196 to €85,676
- Taxes +€7,519
up €7,519 (+2172.8%), from €346 to €7,865
- Financial charges -€2,263
down €2,263 (-12.0%), from €18,827 to €16,564
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 | €523,952 | €447,061 | -€76,890 | -14.7% |
| Fixed assets | 21/28 | €352,045 | €318,953 | -€33,091 | -9.4% |
| Tangible fixed assets | 22/27 | €352,045 | €318,953 | -€33,091 | -9.4% |
| Land and buildings | 22 | €351,131 | €316,835 | -€34,296 | -9.8% |
| Furniture and vehicles | 24 | €913 | €2,118 | +€1,205 | +131.9% |
| Current assets | 29/58 | €171,907 | €128,108 | -€43,799 | -25.5% |
| Amounts receivable within one year | 40/41 | €14,218 | €18,812 | +€4,594 | +32.3% |
| Trade receivables | 40 | €14,218 | €18,812 | +€4,594 | +32.3% |
| Cash at bank and in hand | 54/58 | €157,164 | €108,484 | -€48,680 | -31.0% |
| Deferred charges and accrued income | 490/1 | €526 | €813 | +€287 | +54.5% |
| Total equity and liabilities | 10/49 | €523,952 | €447,061 | -€76,890 | -14.7% |
| Equity | 10/15 | €186,277 | €131,057 | -€55,220 | -29.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €196,841 | €124,857 | -€71,984 | -36.6% |
| Distributable reserves | 133 | €196,841 | €124,857 | -€71,984 | -36.6% |
| Profit (loss) carried forward | 14 | -€16,764 | €0 | +€16,764 | |
| Amounts payable | 17/49 | €337,675 | €316,005 | -€21,670 | -6.4% |
| Amounts payable after more than one year | 17 | €188,734 | €155,340 | -€33,394 | -17.7% |
| Financial debts | 170/4 | €188,734 | €155,340 | -€33,394 | -17.7% |
| Amounts payable within one year | 42/48 | €140,997 | €153,633 | +€12,636 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €32,014 | €33,394 | +€1,380 | +4.3% |
| Financial debts | 43 | - | €624 | +€624 | |
| Credit institutions | 430/8 | - | €624 | +€624 | |
| Trade debts | 44 | €1,079 | €1,500 | +€421 | +39.0% |
| Suppliers | 440/4 | €1,079 | €1,500 | +€421 | +39.0% |
| Taxes, remuneration and social security | 45 | €9,129 | €18,241 | +€9,113 | +99.8% |
| Taxes | 450/3 | €6,492 | €15,586 | +€9,095 | +140.1% |
| Remuneration and social security | 454/9 | €2,637 | €2,655 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €98,775 | €99,874 | +€1,098 | +1.1% |
| Accrued charges and deferred income | 492/3 | €7,944 | €7,032 | -€912 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,865 | €34,661 | -€204 | -0.6% |
| Other operating charges | 640/8 | €3,796 | €3,777 | -€18 | -0.5% |
| Gross operating margin | 9900 | €51,196 | €85,676 | +€34,480 | +67.3% |
| Operating profit (loss) | 9901 | €12,536 | €47,238 | +€34,702 | +276.8% |
| Financial income | 75/76B | €0 | €1 | +€1 | +433.3% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +433.3% |
| Financial charges | 65/66B | €18,827 | €16,564 | -€2,263 | -12.0% |
| Recurring financial charges | 65 | €18,827 | €16,564 | -€2,263 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,291 | €30,675 | +€36,966 | |
| Income taxes | 67/77 | €346 | €7,865 | +€7,519 | +2172.8% |
| Profit (loss) for the period | 9904 | -€6,637 | €22,810 | +€29,447 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,637 | €22,810 | +€29,447 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.