DE VADDER E.: 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.
DE VADDER E.
Largest movements
- Stocks and contracts -€16,185
down €16,185 (-58.4%), from €27,735 to €11,550
of which Contracts in progress: -€12,900
- Cash -€7,329
down €7,329 (-17.7%), from €41,464 to €34,135
mainly Net result for the year (-€24,085) and Investment in fixed assets (net) (-€1,985)
- Tangible fixed assets +€1,265
up €1,265 (+93.6%), from €1,351 to €2,616
of which Plant, machinery and equipment: +€1,579
- Profit (loss) carried forward -€24,085
new in 2025: -€24,085
- Trade debts +€3,481
up €3,481 (+89.5%), from €3,889 to €7,369
- Tax, wage and social debts -€1,500
down €1,500 (-10.8%), from €13,889 to €12,389
of which Remuneration and social security: -€1,500
- Gross operating margin -€86,071
down €86,071, from €60,010 to -€26,061
- Taxes -€11,789
no longer reported in 2025 (was €11,789)
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.
Derived cash bridge
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 | €98,680 | €76,031 | -€22,649 | -23.0% |
| Fixed assets | 21/28 | €1,351 | €2,616 | +€1,265 | +93.6% |
| Tangible fixed assets | 22/27 | €1,351 | €2,616 | +€1,265 | +93.6% |
| Plant, machinery and equipment | 23 | €509 | €2,088 | +€1,579 | +310% |
| Furniture and vehicles | 24 | €842 | €528 | -€314 | -37.2% |
| Current assets | 29/58 | €97,329 | €73,415 | -€23,914 | -24.6% |
| Stocks and contracts in progress | 3 | €27,735 | €11,550 | -€16,185 | -58.4% |
| Stocks | 30/36 | €14,835 | €11,550 | -€3,285 | -22.1% |
| Contracts in progress | 37 | €12,900 | - | -€12,900 | |
| Amounts receivable within one year | 40/41 | €27,173 | €27,113 | -€59 | -0.2% |
| Trade receivables | 40 | €26,436 | €25,404 | -€1,032 | -3.9% |
| Other amounts receivable | 41 | €736 | €1,709 | +€973 | +132% |
| Cash at bank and in hand | 54/58 | €41,464 | €34,135 | -€7,329 | -17.7% |
| Deferred charges and accrued income | 490/1 | €958 | €618 | -€341 | -35.5% |
| Total equity and liabilities | 10/49 | €98,680 | €76,031 | -€22,649 | -23.0% |
| Equity | 10/15 | €72,486 | €48,401 | -€24,085 | -33.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €60,086 | €60,086 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €58,226 | €58,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€24,085 | -€24,085 | |
| Amounts payable | 17/49 | €26,194 | €27,630 | +€1,436 | +5.5% |
| Amounts payable after more than one year | 17 | €7,872 | €7,872 | = | 0.0% |
| Financial debts | 170/4 | €7,872 | €7,872 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,012 | €19,758 | +€1,747 | +9.7% |
| Trade debts | 44 | €3,889 | €7,369 | +€3,481 | +89.5% |
| Suppliers | 440/4 | €3,889 | €7,369 | +€3,481 | +89.5% |
| Taxes, remuneration and social security | 45 | €13,889 | €12,389 | -€1,500 | -10.8% |
| Taxes | 450/3 | €12,389 | €12,389 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €234 | - | -€234 | |
| Accrued charges and deferred income | 492/3 | €310 | - | -€310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €449 | €720 | +€271 | +60.4% |
| Other operating charges | 640/8 | €243 | €251 | +€8 | +3.2% |
| Gross operating margin | 9900 | €60,010 | -€26,061 | -€86,071 | |
| Operating profit (loss) | 9901 | €59,318 | -€27,032 | -€86,349 | |
| Financial income | 75/76B | €3,306 | €3,291 | -€15 | -0.5% |
| Recurring financial income | 75 | €149 | €13 | -€136 | -91.2% |
| Non-recurring financial income | 76B | €3,157 | €3,278 | +€121 | +3.8% |
| Financial charges | 65/66B | €337 | €344 | +€7 | +2.1% |
| Recurring financial charges | 65 | €337 | €344 | +€7 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €62,286 | -€24,085 | -€86,372 | |
| Income taxes | 67/77 | €11,789 | - | -€11,789 | |
| Profit (loss) for the period | 9904 | €50,497 | -€24,085 | -€74,583 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,497 | -€24,085 | -€74,583 |
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 15 October 2026 via checked.be.