E-VADA: 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.
E-VADA
Largest movements
- Tangible fixed assets +€237,371
up €237,371 (+396.3%), from €59,895 to €297,266
of which Land and buildings: +€249,576
- Current investments +€200,000
up €200,000 (+1647.5%), from €12,140 to €212,140
- Cash -€122,821
down €122,821 (-50.8%), from €241,594 to €118,773
mainly Investment in fixed assets (net) (-€275,876) and Current investments (-€200,000)
- Financial fixed assets +€18,191
up €18,191 (+11.9%), from €152,501 to €170,693
- Debts after one year +€173,653
up €173,653 (+745.0%), from €23,309 to €196,962
- Other debts +€152,839
up €152,839 (+33.3%), from €458,679 to €611,518
- Gross operating margin +€10,691
up €10,691 (+4.2%), from €252,072 to €262,763
- Financial charges +€5,916
up €5,916 (+592.8%), from €998 to €6,914
- Taxes -€5,628
down €5,628 (-9.1%), from €62,006 to €56,378
- Financial income -€5,377
down €5,377 (-99.9%), from €5,382 to €5
- Depreciation +€5,109
up €5,109 (+33.6%), from €15,205 to €20,313
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 | €561,896 | €893,026 | +€331,130 | +58.9% |
| Fixed assets | 21/28 | €212,396 | €467,959 | +€255,563 | +120.3% |
| Tangible fixed assets | 22/27 | €59,895 | €297,266 | +€237,371 | +396.3% |
| Land and buildings | 22 | - | €249,576 | +€249,576 | |
| Furniture and vehicles | 24 | €59,895 | €47,690 | -€12,205 | -20.4% |
| Financial fixed assets | 28 | €152,501 | €170,693 | +€18,191 | +11.9% |
| Current assets | 29/58 | €349,500 | €425,067 | +€75,567 | +21.6% |
| Amounts receivable within one year | 40/41 | €94,611 | €92,940 | -€1,671 | -1.8% |
| Trade receivables | 40 | €91,537 | €92,940 | +€1,403 | +1.5% |
| Other amounts receivable | 41 | €3,074 | €0 | -€3,074 | -100.0% |
| Current investments | 50/53 | €12,140 | €212,140 | +€200,000 | +1647.5% |
| Cash at bank and in hand | 54/58 | €241,594 | €118,773 | -€122,821 | -50.8% |
| Deferred charges and accrued income | 490/1 | €1,155 | €1,215 | +€60 | +5.2% |
| Total equity and liabilities | 10/49 | €561,896 | €893,026 | +€331,130 | +58.9% |
| Equity | 10/15 | €37,913 | €39,351 | +€1,438 | +3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,313 | €20,751 | +€1,438 | +7.4% |
| Distributable reserves | 133 | €19,313 | €20,751 | +€1,438 | +7.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €523,983 | €853,675 | +€329,692 | +62.9% |
| Amounts payable after more than one year | 17 | €23,309 | €196,962 | +€173,653 | +745.0% |
| Financial debts | 170/4 | €23,309 | €196,962 | +€173,653 | +745.0% |
| Amounts payable within one year | 42/48 | €498,674 | €654,212 | +€155,539 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €34,333 | €29,445 | -€4,888 | -14.2% |
| Trade debts | 44 | €2,763 | €1,438 | -€1,326 | -48.0% |
| Suppliers | 440/4 | €2,763 | €1,438 | -€1,326 | -48.0% |
| Taxes, remuneration and social security | 45 | €2,899 | €11,811 | +€8,913 | +307.5% |
| Taxes | 450/3 | €2,899 | €11,811 | +€8,913 | +307.5% |
| Other amounts payable | 47/48 | €458,679 | €611,518 | +€152,839 | +33.3% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,500 | +€500 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,205 | €20,313 | +€5,109 | +33.6% |
| Other operating charges | 640/8 | €2,204 | €2,726 | +€522 | +23.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €252,072 | €262,763 | +€10,691 | +4.2% |
| Operating profit (loss) | 9901 | €234,663 | €239,724 | +€5,061 | +2.2% |
| Financial income | 75/76B | €5,382 | €5 | -€5,377 | -99.9% |
| Recurring financial income | 75 | €5,382 | €5 | -€5,377 | -99.9% |
| Financial charges | 65/66B | €998 | €6,914 | +€5,916 | +592.8% |
| Recurring financial charges | 65 | €998 | €6,914 | +€5,916 | +592.8% |
| Profit (loss) for the period before taxes | 9903 | €239,047 | €232,815 | -€6,232 | -2.6% |
| Income taxes | 67/77 | €62,006 | €56,378 | -€5,628 | -9.1% |
| Profit (loss) for the period | 9904 | €177,041 | €176,438 | -€603 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €177,041 | €176,438 | -€603 | -0.3% |
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.