VADAS: 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.
VADAS
Largest movements
- Receivables within one year -€9,070
down €9,070 (-40.8%), from €22,204 to €13,134
of which Trade receivables: -€7,773
- Tangible fixed assets +€7,550
up €7,550 (+102%), from €7,367 to €14,917
- Cash +€796
up €796 (+7.1%), from €11,274 to €12,070
mainly Receivables within one year (+€9,070) and Depreciation (+€6,450)
- Deferred charges and accrued income +€643
up €643 (+1,947%), from €33 to €676
- Other debts +€2,982
new in 2025: €2,982
- Current portion of long-term debt -€2,506
down €2,506 (-57.6%), from €4,349 to €1,843
- Debts after one year -€1,843
no longer reported in 2025 (was €1,843)
- Profit (loss) carried forward +€1,376
up €1,376 (+5.4%), from €25,385 to €26,761
- Tax, wage and social debts -€510
down €510 (-44.9%), from €1,135 to €625
- Staff costs +€18,978
new in 2025: €18,978
- Gross operating margin +€16,087
up €16,087 (+136%), from €11,810 to €27,897
- Depreciation +€1,534
up €1,534 (+31.2%), from €4,916 to €6,450
- Taxes -€989
down €989 (-56.7%), from €1,744 to €755
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 | €40,878 | €40,797 | -€81 | -0.2% |
| Fixed assets | 21/28 | €7,367 | €14,917 | +€7,550 | +102% |
| Tangible fixed assets | 22/27 | €7,367 | €14,917 | +€7,550 | +102% |
| Furniture and vehicles | 24 | €7,367 | €14,917 | +€7,550 | +102% |
| Current assets | 29/58 | €33,511 | €25,880 | -€7,631 | -22.8% |
| Amounts receivable within one year | 40/41 | €22,204 | €13,134 | -€9,070 | -40.8% |
| Trade receivables | 40 | €20,907 | €13,134 | -€7,773 | -37.2% |
| Other amounts receivable | 41 | €1,297 | - | -€1,297 | |
| Cash at bank and in hand | 54/58 | €11,274 | €12,070 | +€796 | +7.1% |
| Deferred charges and accrued income | 490/1 | €33 | €676 | +€643 | +1,947% |
| Total equity and liabilities | 10/49 | €40,878 | €40,797 | -€81 | -0.2% |
| Equity | 10/15 | €32,244 | €33,620 | +€1,376 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €659 | €659 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €659 | €659 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €659 | €659 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €25,385 | €26,761 | +€1,376 | +5.4% |
| Amounts payable | 17/49 | €8,634 | €7,176 | -€1,458 | -16.9% |
| Amounts payable after more than one year | 17 | €1,843 | - | -€1,843 | |
| Financial debts | 170/4 | €1,843 | - | -€1,843 | |
| Amounts payable within one year | 42/48 | €6,791 | €7,176 | +€385 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €4,349 | €1,843 | -€2,506 | -57.6% |
| Trade debts | 44 | €1,307 | €1,726 | +€419 | +32.1% |
| Suppliers | 440/4 | €1,307 | €1,726 | +€419 | +32.1% |
| Taxes, remuneration and social security | 45 | €1,135 | €625 | -€510 | -44.9% |
| Taxes | 450/3 | €1,135 | €625 | -€510 | -44.9% |
| Other amounts payable | 47/48 | - | €2,982 | +€2,982 | |
| Remuneration, social security and pensions | 62 | - | €18,978 | +€18,978 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,916 | €6,450 | +€1,534 | +31.2% |
| Other operating charges | 640/8 | €293 | €80 | -€213 | -72.6% |
| Non-recurring operating charges | 66A | €535 | - | -€535 | |
| Gross operating margin | 9900 | €11,810 | €27,897 | +€16,087 | +136% |
| Operating profit (loss) | 9901 | €6,066 | €2,389 | -€3,677 | -60.6% |
| Financial income | 75/76B | €8 | €2 | -€6 | -80.8% |
| Recurring financial income | 75 | €8 | €2 | -€6 | -80.8% |
| Financial charges | 65/66B | €392 | €259 | -€133 | -34.0% |
| Recurring financial charges | 65 | €392 | €259 | -€133 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €5,682 | €2,132 | -€3,550 | -62.5% |
| Income taxes | 67/77 | €1,744 | €755 | -€989 | -56.7% |
| Profit (loss) for the period | 9904 | €3,938 | €1,377 | -€2,561 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,938 | €1,377 | -€2,561 | -65.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.