VYNCKIER C.: 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.
VYNCKIER C.
Largest movements
- Cash +€48,198
up €48,198 (+238.6%), from €20,200 to €68,398
mainly Depreciation (+€182,019) and Debts after one year (+€171,599)
- Tangible fixed assets -€36,347
down €36,347 (-1.5%), from €2.4m to €2.3m
of which Land and buildings: -€34,588
- Short-term financial debts -€200,000
no longer reported in 2025 (was €200,000)
- Debts after one year +€171,599
up €171,599 (+33.5%), from €511,976 to €683,575
of which Financial debts: +€168,874
- Reserves -€47,299
down €47,299 (-15.2%), from €310,232 to €262,932
of which Distributable reserves: -€36,435
- Profit (loss) carried forward +€41,997
up €41,997 (+15.4%), from -€272,560 to -€230,563
- Current portion of long-term debt +€29,445
up €29,445 (+28.7%), from €102,580 to €132,024
- Gross operating margin +€24,461
up €24,461 (+8.1%), from €302,819 to €327,280
- Taxes +€5,489
up €5,489 (+20.8%), from €26,439 to €31,928
- Financial charges -€4,292
down €4,292 (-11.6%), from €36,955 to €32,663
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 | €2,758,303 | €2,749,892 | -€8,411 | -0.3% |
| Fixed assets | 21/28 | €2,490,767 | €2,436,616 | -€54,151 | -2.2% |
| Intangible fixed assets | 21 | €115,143 | €97,338 | -€17,804 | -15.5% |
| Tangible fixed assets | 22/27 | €2,373,987 | €2,337,640 | -€36,347 | -1.5% |
| Land and buildings | 22 | €2,356,057 | €2,321,468 | -€34,588 | -1.5% |
| Furniture and vehicles | 24 | €17,931 | €16,172 | -€1,759 | -9.8% |
| Financial fixed assets | 28 | €1,637 | €1,637 | = | 0.0% |
| Current assets | 29/58 | €267,536 | €313,276 | +€45,740 | +17.1% |
| Stocks and contracts in progress | 3 | €240,050 | €240,050 | = | 0.0% |
| Stocks | 30/36 | €240,050 | €240,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,058 | - | -€1,058 | |
| Trade receivables | 40 | €1,058 | - | -€1,058 | |
| Cash at bank and in hand | 54/58 | €20,200 | €68,398 | +€48,198 | +238.6% |
| Deferred charges and accrued income | 490/1 | €6,228 | €4,828 | -€1,400 | -22.5% |
| Total equity and liabilities | 10/49 | €2,758,303 | €2,749,892 | -€8,411 | -0.3% |
| Equity | 10/15 | €1,673,819 | €1,668,516 | -€5,303 | -0.3% |
| Contributions | 10/11 | €316,064 | €316,064 | = | 0.0% |
| Capital | 10 | €316,064 | €316,064 | = | 0.0% |
| Issued capital | 100 | €316,064 | €316,064 | = | 0.0% |
| Revaluation surpluses | 12 | €1,320,083 | €1,320,083 | = | 0.0% |
| Reserves | 13 | €310,232 | €262,932 | -€47,299 | -15.2% |
| Non-distributable reserves | 130/1 | €1,715 | €1,715 | = | 0.0% |
| Legal reserve | 130 | €1,715 | €1,715 | = | 0.0% |
| Tax-exempt reserves | 132 | €253,315 | €242,450 | -€10,865 | -4.3% |
| Distributable reserves | 133 | €55,202 | €18,767 | -€36,435 | -66.0% |
| Profit (loss) carried forward | 14 | -€272,560 | -€230,563 | +€41,997 | +15.4% |
| Provisions and deferred taxes | 16 | €103,467 | €99,029 | -€4,438 | -4.3% |
| Deferred taxes | 168 | €103,467 | €99,029 | -€4,438 | -4.3% |
| Amounts payable | 17/49 | €981,017 | €982,346 | +€1,330 | +0.1% |
| Amounts payable after more than one year | 17 | €511,976 | €683,575 | +€171,599 | +33.5% |
| Financial debts | 170/4 | €490,716 | €659,590 | +€168,874 | +34.4% |
| Other amounts payable | 178/9 | €21,260 | €23,985 | +€2,725 | +12.8% |
| Amounts payable within one year | 42/48 | €438,968 | €286,639 | -€152,329 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €102,580 | €132,024 | +€29,445 | +28.7% |
| Financial debts | 43 | €200,000 | - | -€200,000 | |
| Credit institutions | 430/8 | €200,000 | - | -€200,000 | |
| Trade debts | 44 | €3,404 | €1,306 | -€2,098 | -61.6% |
| Suppliers | 440/4 | €3,404 | €1,306 | -€2,098 | -61.6% |
| Taxes, remuneration and social security | 45 | €19,357 | €14,623 | -€4,734 | -24.5% |
| Taxes | 450/3 | €19,357 | €14,623 | -€4,734 | -24.5% |
| Other amounts payable | 47/48 | €113,627 | €138,686 | +€25,059 | +22.1% |
| Accrued charges and deferred income | 492/3 | €30,073 | €12,133 | -€17,941 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,076 | €182,019 | -€1,057 | -0.6% |
| Other operating charges | 640/8 | €53,286 | €54,030 | +€744 | +1.4% |
| Gross operating margin | 9900 | €302,819 | €327,280 | +€24,461 | +8.1% |
| Operating profit (loss) | 9901 | €66,457 | €91,231 | +€24,774 | +37.3% |
| Financial income | 75/76B | €401 | €54 | -€347 | -86.6% |
| Recurring financial income | 75 | €401 | €54 | -€347 | -86.6% |
| Financial charges | 65/66B | €36,955 | €32,663 | -€4,292 | -11.6% |
| Recurring financial charges | 65 | €36,955 | €32,663 | -€4,292 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €29,903 | €58,622 | +€28,718 | +96.0% |
| Transfer from deferred taxes | 780 | €10,865 | €4,438 | -€6,427 | -59.2% |
| Income taxes | 67/77 | €26,439 | €31,928 | +€5,489 | +20.8% |
| Profit (loss) for the period | 9904 | €14,329 | €31,132 | +€16,802 | +117.3% |
| Transfer from tax-exempt reserves | 789 | €4,438 | €10,865 | +€6,427 | +144.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,767 | €41,997 | +€23,229 | +123.8% |
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 10 October 2026 via checked.be.