VADALUB: 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.
VADALUB
Largest movements
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Receivables within one year +€306,251
up €306,251 (+22.7%), from €1.4m to €1.7m
of which Trade receivables: +€188,316
- Cash -€109,004
down €109,004 (-25.9%), from €421,364 to €312,360
mainly Receivables within one year (-€306,251) and Trade debts (-€241,626)
- Tangible fixed assets +€54,698
up €54,698 (+42.6%), from €128,375 to €183,073
of which Furniture and vehicles: +€58,796
- Trade debts -€241,626
down €241,626 (-60.1%), from €401,950 to €160,324
- Other debts -€131,797
down €131,797 (-32.5%), from €405,204 to €273,407
- Reserves +€78,510
up €78,510 (+5.4%), from €1.5m to €1.5m
of which Distributable reserves: +€78,510
- Tax, wage and social debts +€44,067
up €44,067 (+35.2%), from €125,246 to €169,313
of which Taxes: +€41,957
- Gross operating margin -€189,368
down €189,368 (-13.3%), from €1.4m to €1.2m
- Taxes -€31,113
down €31,113 (-32.1%), from €96,990 to €65,877
- Depreciation +€15,781
up €15,781 (+44.7%), from €35,314 to €51,094
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,423,364 | €2,172,523 | -€250,841 | -10.4% |
| Fixed assets | 21/28 | €128,520 | €183,218 | +€54,698 | +42.6% |
| Tangible fixed assets | 22/27 | €128,375 | €183,073 | +€54,698 | +42.6% |
| Plant, machinery and equipment | 23 | €11,206 | €7,109 | -€4,098 | -36.6% |
| Furniture and vehicles | 24 | €117,169 | €175,964 | +€58,796 | +50.2% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €2,294,844 | €1,989,305 | -€305,539 | -13.3% |
| Amounts receivable within one year | 40/41 | €1,350,635 | €1,656,886 | +€306,251 | +22.7% |
| Trade receivables | 40 | €1,089,467 | €1,277,783 | +€188,316 | +17.3% |
| Other amounts receivable | 41 | €261,168 | €379,104 | +€117,935 | +45.2% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €421,364 | €312,360 | -€109,004 | -25.9% |
| Deferred charges and accrued income | 490/1 | €22,845 | €20,058 | -€2,787 | -12.2% |
| Total equity and liabilities | 10/49 | €2,423,364 | €2,172,523 | -€250,841 | -10.4% |
| Equity | 10/15 | €1,477,469 | €1,555,978 | +€78,510 | +5.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,452,469 | €1,530,978 | +€78,510 | +5.4% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €1,449,969 | €1,528,478 | +€78,510 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €945,895 | €616,545 | -€329,351 | -34.8% |
| Amounts payable within one year | 42/48 | €945,895 | €616,545 | -€329,351 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €13,496 | €13,500 | +€4 | 0.0% |
| Trade debts | 44 | €401,950 | €160,324 | -€241,626 | -60.1% |
| Suppliers | 440/4 | €401,950 | €160,324 | -€241,626 | -60.1% |
| Taxes, remuneration and social security | 45 | €125,246 | €169,313 | +€44,067 | +35.2% |
| Taxes | 450/3 | €26,902 | €68,859 | +€41,957 | +156% |
| Remuneration and social security | 454/9 | €98,344 | €100,454 | +€2,110 | +2.1% |
| Other amounts payable | 47/48 | €405,204 | €273,407 | -€131,797 | -32.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €811,977 | €812,843 | +€865 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,314 | €51,094 | +€15,781 | +44.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,037 | €13,350 | +€8,313 | +165% |
| Gross operating margin | 9900 | €1,424,421 | €1,235,053 | -€189,368 | -13.3% |
| Operating profit (loss) | 9901 | €572,093 | €357,766 | -€214,327 | -37.5% |
| Financial income | 75/76B | €10,197 | €16,638 | +€6,441 | +63.2% |
| Recurring financial income | 75 | €10,197 | €16,638 | +€6,441 | +63.2% |
| Financial charges | 65/66B | €17,222 | €10,018 | -€7,204 | -41.8% |
| Recurring financial charges | 65 | €17,222 | €10,018 | -€7,204 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €565,069 | €364,386 | -€200,682 | -35.5% |
| Income taxes | 67/77 | €96,990 | €65,877 | -€31,113 | -32.1% |
| Profit (loss) for the period | 9904 | €468,079 | €298,510 | -€169,569 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €468,079 | €298,510 | -€169,569 | -36.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.