VADA: 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.
VADA
Largest movements
- Receivables within one year +€37,096
up €37,096 (+35.6%), from €104,144 to €141,240
- Tangible fixed assets -€35,651
down €35,651 (-15.4%), from €231,248 to €195,597
of which Land and buildings: -€24,953
- Cash -€8,578
down €8,578 (-13.3%), from €64,715 to €56,137
mainly Receivables within one year (-€37,096) and Debts after one year (-€6,249)
- Debts after one year -€6,249
down €6,249 (-26.5%), from €23,547 to €17,298
- Reserves -€5,463
down €5,463 (-34.3%), from €15,930 to €10,467
of which Distributable reserves: -€5,463
- Other debts +€5,348
up €5,348 (+194.5%), from €2,750 to €8,098
- Depreciation +€5,859
up €5,859 (+19.7%), from €29,792 to €35,651
- Gross operating margin -€2,609
down €2,609 (-6.5%), from €40,409 to €37,800
- Financial charges +€720
up €720 (+88.6%), from €812 to €1,532
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 | €400,106 | €392,974 | -€7,132 | -1.8% |
| Fixed assets | 21/28 | €231,248 | €195,597 | -€35,651 | -15.4% |
| Tangible fixed assets | 22/27 | €231,248 | €195,597 | -€35,651 | -15.4% |
| Land and buildings | 22 | €182,596 | €157,643 | -€24,953 | -13.7% |
| Plant, machinery and equipment | 23 | €2,066 | €1,602 | -€464 | -22.5% |
| Furniture and vehicles | 24 | €46,586 | €36,352 | -€10,234 | -22.0% |
| Current assets | 29/58 | €168,858 | €197,377 | +€28,519 | +16.9% |
| Amounts receivable within one year | 40/41 | €104,144 | €141,240 | +€37,096 | +35.6% |
| Other amounts receivable | 41 | €104,144 | €141,240 | +€37,096 | +35.6% |
| Cash at bank and in hand | 54/58 | €64,715 | €56,137 | -€8,578 | -13.3% |
| Total equity and liabilities | 10/49 | €400,106 | €392,974 | -€7,132 | -1.8% |
| Equity | 10/15 | €365,930 | €360,467 | -€5,463 | -1.5% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €15,930 | €10,467 | -€5,463 | -34.3% |
| Non-distributable reserves | 130/1 | €2,310 | €2,310 | = | 0.0% |
| Legal reserve | 130 | €2,310 | €2,310 | = | 0.0% |
| Distributable reserves | 133 | €13,620 | €8,157 | -€5,463 | -40.1% |
| Amounts payable | 17/49 | €34,176 | €32,507 | -€1,669 | -4.9% |
| Amounts payable after more than one year | 17 | €23,547 | €17,298 | -€6,249 | -26.5% |
| Financial debts | 170/4 | €23,547 | €17,298 | -€6,249 | -26.5% |
| Amounts payable within one year | 42/48 | €10,629 | €15,209 | +€4,580 | +43.1% |
| Current portion of amounts payable after more than one year | 42 | €6,014 | €6,249 | +€235 | +3.9% |
| Trade debts | 44 | €1,846 | €821 | -€1,025 | -55.5% |
| Suppliers | 440/4 | €1,846 | €821 | -€1,025 | -55.5% |
| Taxes, remuneration and social security | 45 | €19 | €41 | +€22 | +116.1% |
| Taxes | 450/3 | €19 | €41 | +€22 | +116.1% |
| Other amounts payable | 47/48 | €2,750 | €8,098 | +€5,348 | +194.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,792 | €35,651 | +€5,859 | +19.7% |
| Other operating charges | 640/8 | €6,280 | €6,329 | +€49 | +0.8% |
| Gross operating margin | 9900 | €40,409 | €37,800 | -€2,609 | -6.5% |
| Operating profit (loss) | 9901 | €4,337 | -€4,180 | -€8,517 | |
| Financial income | 75/76B | €200 | €408 | +€208 | +104.2% |
| Recurring financial income | 75 | €200 | €408 | +€208 | +104.2% |
| Financial charges | 65/66B | €812 | €1,532 | +€720 | +88.6% |
| Recurring financial charges | 65 | €812 | €1,532 | +€720 | +88.6% |
| Profit (loss) for the period before taxes | 9903 | €3,725 | -€5,304 | -€9,029 | |
| Income taxes | 67/77 | €79 | €159 | +€80 | +102.0% |
| Profit (loss) for the period | 9904 | €3,646 | -€5,463 | -€9,109 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,646 | -€5,463 | -€9,109 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.