VADAMON: 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.
VADAMON
Largest movements
- Receivables within one year -€1.7m
down €1.7m (-51.4%), from €3.3m to €1.6m
of which Trade receivables: -€1.6m
- Tangible fixed assets +€263,281
up €263,281 (+60.1%), from €438,222 to €701,502
of which Assets under construction and advance payments: +€154,533
- Trade debts -€1.4m
down €1.4m (-70.6%), from €2.0m to €577,256
- Reserves +€348,281
up €348,281 (+18.3%), from €1.9m to €2.3m
of which Distributable reserves: +€348,281
- Other debts -€199,880
down €199,880 (-27.3%), from €732,413 to €532,533
- Tax, wage and social debts -€111,353
down €111,353 (-54.8%), from €203,027 to €91,674
of which Taxes: -€119,530
- Gross operating margin -€211,844
down €211,844 (-14.5%), from €1.5m to €1.3m
- Financial income +€209,306
up €209,306 (+9408.0%), from €2,225 to €211,531
- Staff costs +€143,346
up €143,346 (+25.7%), from €558,596 to €701,942
- Taxes -€75,880
down €75,880 (-49.5%), from €153,203 to €77,323
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.
Cash bridge derived
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 | €4,979,604 | €3,587,527 | -€1.4m | -28.0% |
| Fixed assets | 21/28 | €1,605,772 | €1,869,052 | +€263,281 | +16.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €438,222 | €701,502 | +€263,281 | +60.1% |
| Land and buildings | 22 | €234,733 | €214,539 | -€20,193 | -8.6% |
| Plant, machinery and equipment | 23 | €114,094 | €221,356 | +€107,262 | +94.0% |
| Furniture and vehicles | 24 | €89,395 | €111,073 | +€21,678 | +24.2% |
| Assets under construction and advance payments | 27 | - | €154,533 | +€154,533 | |
| Financial fixed assets | 28 | €1,167,550 | €1,167,550 | = | 0.0% |
| Current assets | 29/58 | €3,373,833 | €1,718,475 | -€1.7m | -49.1% |
| Amounts receivable within one year | 40/41 | €3,268,113 | €1,586,671 | -€1.7m | -51.4% |
| Trade receivables | 40 | €3,125,736 | €1,503,761 | -€1.6m | -51.9% |
| Other amounts receivable | 41 | €142,377 | €82,910 | -€59,467 | -41.8% |
| Cash at bank and in hand | 54/58 | €94,551 | €121,141 | +€26,589 | +28.1% |
| Deferred charges and accrued income | 490/1 | €11,169 | €10,663 | -€506 | -4.5% |
| Total equity and liabilities | 10/49 | €4,979,604 | €3,587,527 | -€1.4m | -28.0% |
| Equity | 10/15 | €1,923,897 | €2,272,178 | +€348,281 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,905,297 | €2,253,578 | +€348,281 | +18.3% |
| 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 | €1,903,437 | €2,251,718 | +€348,281 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,055,707 | €1,315,349 | -€1.7m | -57.0% |
| Amounts payable after more than one year | 17 | €94,233 | €50,068 | -€44,166 | -46.9% |
| Financial debts | 170/4 | €94,233 | €50,068 | -€44,166 | -46.9% |
| Amounts payable within one year | 42/48 | €2,959,108 | €1,259,129 | -€1.7m | -57.4% |
| Current portion of amounts payable after more than one year | 42 | €44,841 | €44,166 | -€676 | -1.5% |
| Financial debts | 43 | €13,496 | €13,500 | +€4 | 0.0% |
| Credit institutions | 430/8 | €13,496 | €13,500 | +€4 | 0.0% |
| Trade debts | 44 | €1,965,331 | €577,256 | -€1.4m | -70.6% |
| Suppliers | 440/4 | €1,965,331 | €577,256 | -€1.4m | -70.6% |
| Taxes, remuneration and social security | 45 | €203,027 | €91,674 | -€111,353 | -54.8% |
| Taxes | 450/3 | €123,912 | €4,382 | -€119,530 | -96.5% |
| Remuneration and social security | 454/9 | €79,115 | €87,292 | +€8,177 | +10.3% |
| Other amounts payable | 47/48 | €732,413 | €532,533 | -€199,880 | -27.3% |
| Accrued charges and deferred income | 492/3 | €2,366 | €6,152 | +€3,786 | +160.0% |
| Remuneration, social security and pensions | 62 | €558,596 | €701,942 | +€143,346 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,616 | €108,514 | -€102 | -0.1% |
| Other operating charges | 640/8 | €10,576 | €11,873 | +€1,297 | +12.3% |
| Gross operating margin | 9900 | €1,464,034 | €1,252,190 | -€211,844 | -14.5% |
| Operating profit (loss) | 9901 | €786,247 | €429,861 | -€356,385 | -45.3% |
| Financial income | 75/76B | €2,225 | €211,531 | +€209,306 | +9408.0% |
| Recurring financial income | 75 | €2,225 | €211,531 | +€209,306 | +9408.0% |
| Financial charges | 65/66B | €11,798 | €15,787 | +€3,989 | +33.8% |
| Recurring financial charges | 65 | €11,798 | €15,787 | +€3,989 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €776,673 | €625,605 | -€151,069 | -19.5% |
| Income taxes | 67/77 | €153,203 | €77,323 | -€75,880 | -49.5% |
| Profit (loss) for the period | 9904 | €623,470 | €548,281 | -€75,189 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €623,470 | €548,281 | -€75,189 | -12.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.