VADA Management: 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.
VADA Management
Largest movements
- Tangible fixed assets -€87,138
down €87,138 (-8.3%), from €1.0m to €961,197
- Cash +€72,499
up €72,499 (+203%), from €35,729 to €108,228
mainly Depreciation (+€183,323) and Net result for the year (+€76,470)
- Receivables within one year +€22,221
up €22,221 (+14.7%), from €150,651 to €172,871
of which Trade receivables: +€23,529
- Debts after one year -€83,484
down €83,484 (-23.3%), from €357,933 to €274,449
- Profit (loss) carried forward +€61,470
up €61,470 (+15.0%), from €408,730 to €470,199
- Trade debts +€53,623
up €53,623 (+73.8%), from €72,692 to €126,316
- Other debts -€14,047
down €14,047 (-7.1%), from €197,698 to €183,651
- Gross operating margin +€73,356
up €73,356 (+31.6%), from €231,871 to €305,227
- Depreciation +€19,022
up €19,022 (+11.6%), from €164,302 to €183,323
- Taxes +€15,919
up €15,919 (+154%), from €10,353 to €26,272
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 | €1,245,016 | €1,254,458 | +€9,443 | +0.8% |
| Fixed assets | 21/28 | €1,048,336 | €961,197 | -€87,138 | -8.3% |
| Tangible fixed assets | 22/27 | €1,048,336 | €961,197 | -€87,138 | -8.3% |
| Land and buildings | 22 | €686,563 | €658,706 | -€27,857 | -4.1% |
| Plant, machinery and equipment | 23 | €51,760 | €52,546 | +€786 | +1.5% |
| Furniture and vehicles | 24 | €184,084 | €165,830 | -€18,254 | -9.9% |
| Leasing and similar rights | 25 | €125,929 | €84,115 | -€41,814 | -33.2% |
| Current assets | 29/58 | €196,680 | €293,261 | +€96,581 | +49.1% |
| Amounts receivable within one year | 40/41 | €150,651 | €172,871 | +€22,221 | +14.7% |
| Trade receivables | 40 | €128,367 | €151,896 | +€23,529 | +18.3% |
| Other amounts receivable | 41 | €22,284 | €20,976 | -€1,309 | -5.9% |
| Cash at bank and in hand | 54/58 | €35,729 | €108,228 | +€72,499 | +203% |
| Deferred charges and accrued income | 490/1 | €10,301 | €12,162 | +€1,861 | +18.1% |
| Total equity and liabilities | 10/49 | €1,245,016 | €1,254,458 | +€9,443 | +0.8% |
| Equity | 10/15 | €429,190 | €490,659 | +€61,470 | +14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €408,730 | €470,199 | +€61,470 | +15.0% |
| Amounts payable | 17/49 | €815,826 | €763,799 | -€52,027 | -6.4% |
| Amounts payable after more than one year | 17 | €357,933 | €274,449 | -€83,484 | -23.3% |
| Financial debts | 170/4 | €357,933 | €274,449 | -€83,484 | -23.3% |
| Amounts payable within one year | 42/48 | €457,893 | €489,350 | +€31,457 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €152,851 | €146,119 | -€6,733 | -4.4% |
| Trade debts | 44 | €72,692 | €126,316 | +€53,623 | +73.8% |
| Suppliers | 440/4 | €72,692 | €126,316 | +€53,623 | +73.8% |
| Advances received on contracts in progress | 46 | €25,000 | €25,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,650 | €8,264 | -€1,386 | -14.4% |
| Taxes | 450/3 | €6,833 | €8,264 | +€1,431 | +20.9% |
| Remuneration and social security | 454/9 | €2,818 | - | -€2,818 | |
| Other amounts payable | 47/48 | €197,698 | €183,651 | -€14,047 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,302 | €183,323 | +€19,022 | +11.6% |
| Other operating charges | 640/8 | €1,976 | €1,642 | -€334 | -16.9% |
| Gross operating margin | 9900 | €231,871 | €305,227 | +€73,356 | +31.6% |
| Operating profit (loss) | 9901 | €65,594 | €120,262 | +€54,668 | +83.3% |
| Financial income | 75/76B | €30 | €0 | -€30 | -99.8% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -99.8% |
| Financial charges | 65/66B | €16,999 | €17,521 | +€522 | +3.1% |
| Recurring financial charges | 65 | €16,999 | €17,521 | +€522 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €48,625 | €102,741 | +€54,117 | +111% |
| Income taxes | 67/77 | €10,353 | €26,272 | +€15,919 | +154% |
| Profit (loss) for the period | 9904 | €38,271 | €76,470 | +€38,198 | +99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,271 | €76,470 | +€38,198 | +99.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.