VNCOBI: 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.
VNCOBI
Largest movements
- Tangible fixed assets -€17,140
down €17,140 (-2.4%), from €726,305 to €709,165
of which Land and buildings: -€17,473
- Cash -€11,447
down €11,447 (-66.1%), from €17,324 to €5,877
mainly Debts after one year (-€55,806) and Investment in fixed assets (net) (-€6,981)
- Debts after one year -€55,806
down €55,806 (-9.1%), from €612,872 to €557,066
of which Financial debts: -€55,806
- Other debts +€21,964
up €21,964 (+43.7%), from €50,225 to €72,190
- Trade debts +€13,546
up €13,546 (+494.8%), from €2,738 to €16,284
- Depreciation -€39,447
down €39,447 (-59.9%), from €65,910 to €26,462
- Gross operating margin -€36,373
down €36,373 (-39.5%), from €92,139 to €55,765
- Financial charges +€12,891
up €12,891 (+108.0%), from €11,931 to €24,822
of which Financial charges: +€11,798
- Taxes -€2,245
down €2,245 (-65.7%), from €3,417 to €1,172
- Other operating charges -€1,210
down €1,210 (-14.9%), from €8,107 to €6,896
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 | €752,114 | €724,132 | -€27,983 | -3.7% |
| Fixed assets | 21/28 | €728,675 | €709,194 | -€19,481 | -2.7% |
| Tangible fixed assets | 22/27 | €726,305 | €709,165 | -€17,140 | -2.4% |
| Land and buildings | 22 | €655,230 | €637,757 | -€17,473 | -2.7% |
| Plant, machinery and equipment | 23 | €70,316 | €67,424 | -€2,892 | -4.1% |
| Furniture and vehicles | 24 | €758 | €3,984 | +€3,226 | +425.6% |
| Financial fixed assets | 28 | €2,370 | €28 | -€2,342 | -98.8% |
| Current assets | 29/58 | €23,440 | €14,938 | -€8,502 | -36.3% |
| Amounts receivable within one year | 40/41 | €5,497 | €9,062 | +€3,565 | +64.9% |
| Trade receivables | 40 | €5,497 | €9,062 | +€3,565 | +64.9% |
| Cash at bank and in hand | 54/58 | €17,324 | €5,877 | -€11,447 | -66.1% |
| Deferred charges and accrued income | 490/1 | €620 | - | -€620 | |
| Total equity and liabilities | 10/49 | €752,114 | €724,132 | -€27,983 | -3.7% |
| Equity | 10/15 | €30,002 | €26,415 | -€3,588 | -12.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,802 | €20,215 | -€3,588 | -15.1% |
| Amounts payable | 17/49 | €722,112 | €697,717 | -€24,395 | -3.4% |
| Amounts payable after more than one year | 17 | €612,872 | €557,066 | -€55,806 | -9.1% |
| Financial debts | 170/4 | €611,898 | €556,092 | -€55,806 | -9.1% |
| Other amounts payable | 178/9 | €974 | €974 | = | 0.0% |
| Amounts payable within one year | 42/48 | €109,240 | €140,651 | +€31,411 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €34,852 | €35,806 | +€954 | +2.7% |
| Trade debts | 44 | €2,738 | €16,284 | +€13,546 | +494.8% |
| Suppliers | 440/4 | €2,738 | €16,284 | +€13,546 | +494.8% |
| Taxes, remuneration and social security | 45 | €21,425 | €16,372 | -€5,053 | -23.6% |
| Taxes | 450/3 | €21,425 | €16,372 | -€5,053 | -23.6% |
| Other amounts payable | 47/48 | €50,225 | €72,190 | +€21,964 | +43.7% |
| Non-recurring operating income | 76A | €1,914 | €1,596 | -€318 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,910 | €26,462 | -€39,447 | -59.9% |
| Other operating charges | 640/8 | €8,107 | €6,896 | -€1,210 | -14.9% |
| Gross operating margin | 9900 | €92,139 | €55,765 | -€36,373 | -39.5% |
| Operating profit (loss) | 9901 | €18,122 | €22,407 | +€4,284 | +23.6% |
| Financial income | 75/76B | €100 | - | -€100 | |
| Recurring financial income | 75 | €100 | - | -€100 | |
| Financial charges | 65/66B | €11,931 | €24,822 | +€12,891 | +108.0% |
| Recurring financial charges | 65 | €11,598 | €23,395 | +€11,798 | +101.7% |
| Non-recurring financial charges | 66B | €334 | €1,427 | +€1,094 | +327.8% |
| Profit (loss) for the period before taxes | 9903 | €6,291 | -€2,416 | -€8,707 | |
| Income taxes | 67/77 | €3,417 | €1,172 | -€2,245 | -65.7% |
| Profit (loss) for the period | 9904 | €2,875 | -€3,588 | -€6,463 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,875 | -€3,588 | -€6,463 |
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.