VYNCKE & STAELENS: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
VYNCKE & STAELENS
Largest movements
- Tangible fixed assets +€236,250
up €236,250 (+185%), from €127,889 to €364,139
of which Other tangible fixed assets: +€258,102
- Intangible fixed assets -€124,299
down €124,299 (-10.7%), from €1.2m to €1.0m
- Cash -€55,642
down €55,642 (-66.9%), from €83,221 to €27,579
mainly Investment in fixed assets (net) (-€294,166) and Trade debts (-€2,958)
- Current portion of long-term debt +€32,723
up €32,723 (+27.5%), from €119,108 to €151,831
- Tax, wage and social debts +€15,560
up €15,560 (+69.2%), from €22,498 to €38,058
- Gross operating margin +€155,286
up €155,286 (+39.4%), from €393,757 to €549,043
- Staff costs +€103,993
up €103,993 (+47.9%), from €216,910 to €320,903
- Depreciation +€78,582
up €78,582 (+75.8%), from €103,633 to €182,215
- Financial charges +€21,364
up €21,364 (+93.9%), from €22,763 to €44,127
- Taxes -€13,876
down €13,876 (-94.9%), from €14,615 to €739
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,445,140 | €1,494,999 | +€49,859 | +3.5% |
| Fixed assets | 21/28 | €1,287,331 | €1,399,282 | +€111,951 | +8.7% |
| Intangible fixed assets | 21 | €1,159,442 | €1,035,143 | -€124,299 | -10.7% |
| Tangible fixed assets | 22/27 | €127,889 | €364,139 | +€236,250 | +185% |
| Land and buildings | 22 | €12,803 | €7,303 | -€5,500 | -43.0% |
| Plant, machinery and equipment | 23 | €2,046 | €1,590 | -€456 | -22.3% |
| Furniture and vehicles | 24 | €103,523 | €87,626 | -€15,897 | -15.4% |
| Other tangible fixed assets | 26 | €9,517 | €267,619 | +€258,102 | +2,712% |
| Current assets | 29/58 | €157,809 | €95,717 | -€62,092 | -39.3% |
| Amounts receivable within one year | 40/41 | €71,235 | €64,785 | -€6,450 | -9.1% |
| Trade receivables | 40 | €1,023 | €660 | -€363 | -35.4% |
| Other amounts receivable | 41 | €70,212 | €64,125 | -€6,087 | -8.7% |
| Cash at bank and in hand | 54/58 | €83,221 | €27,579 | -€55,642 | -66.9% |
| Deferred charges and accrued income | 490/1 | €3,353 | €3,353 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,445,140 | €1,494,999 | +€49,859 | +3.5% |
| Equity | 10/15 | €101,265 | €100,633 | -€632 | -0.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,860 | €80,228 | -€632 | -0.8% |
| Amounts payable | 17/49 | €1,343,875 | €1,394,366 | +€50,491 | +3.8% |
| Amounts payable after more than one year | 17 | €1,165,615 | €1,170,398 | +€4,783 | +0.4% |
| Financial debts | 170/4 | €1,165,615 | €1,170,398 | +€4,783 | +0.4% |
| Amounts payable within one year | 42/48 | €178,260 | €223,968 | +€45,708 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €119,108 | €151,831 | +€32,723 | +27.5% |
| Trade debts | 44 | €36,379 | €33,421 | -€2,958 | -8.1% |
| Suppliers | 440/4 | €36,379 | €33,421 | -€2,958 | -8.1% |
| Taxes, remuneration and social security | 45 | €22,498 | €38,058 | +€15,560 | +69.2% |
| Remuneration and social security | 454/9 | €22,498 | €38,058 | +€15,560 | +69.2% |
| Other amounts payable | 47/48 | €275 | €658 | +€383 | +139% |
| Remuneration, social security and pensions | 62 | €216,910 | €320,903 | +€103,993 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,633 | €182,215 | +€78,582 | +75.8% |
| Other operating charges | 640/8 | €1,424 | €1,899 | +€475 | +33.4% |
| Non-recurring operating charges | 66A | €10,891 | - | -€10,891 | |
| Gross operating margin | 9900 | €393,757 | €549,043 | +€155,286 | +39.4% |
| Operating profit (loss) | 9901 | €60,900 | €44,026 | -€16,873 | -27.7% |
| Financial income | 75/76B | €2,183 | €208 | -€1,975 | -90.5% |
| Recurring financial income | 75 | €2,183 | €208 | -€1,975 | -90.5% |
| Financial charges | 65/66B | €22,763 | €44,127 | +€21,364 | +93.9% |
| Recurring financial charges | 65 | €22,763 | €44,127 | +€21,364 | +93.9% |
| Profit (loss) for the period before taxes | 9903 | €40,320 | €107 | -€40,213 | -99.7% |
| Income taxes | 67/77 | €14,615 | €739 | -€13,876 | -94.9% |
| Profit (loss) for the period | 9904 | €25,705 | -€632 | -€26,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,705 | -€632 | -€26,336 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.