VADB: 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.
VADB
Largest movements
- Receivables within one year -€3,539
down €3,539 (-10.2%), from €34,733 to €31,194
of which Other amounts receivable: -€9,337
- Debts after one year +€52,689
up €52,689 (+954.7%), from €5,519 to €58,208
- Trade debts -€44,032
down €44,032 (-64.6%), from €68,195 to €24,163
- Other debts -€11,485
down €11,485 (-14.2%), from €80,981 to €69,496
- Profit (loss) carried forward +€6,097
up €6,097 (+9.6%), from €63,381 to €69,478
- Tax, wage and social debts -€3,719
down €3,719 (-78.2%), from €4,753 to €1,034
- Depreciation +€17,709
up €17,709 (+61.8%), from €28,632 to €46,341
- Gross operating margin +€4,797
up €4,797 (+7.8%), from €61,860 to €66,656
- Taxes -€3,232
down €3,232 (-52.7%), from €6,138 to €2,906
- Financial charges +€2,456
up €2,456 (+347.7%), from €707 to €3,163
- Other operating charges -€2,012
down €2,012 (-29.9%), from €6,736 to €4,724
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 | €246,550 | €244,598 | -€1,952 | -0.8% |
| Fixed assets | 21/28 | €202,956 | €203,887 | +€931 | +0.5% |
| Tangible fixed assets | 22/27 | €202,956 | €203,887 | +€931 | +0.5% |
| Plant, machinery and equipment | 23 | €120,568 | €107,209 | -€13,358 | -11.1% |
| Furniture and vehicles | 24 | €49,981 | €67,611 | +€17,630 | +35.3% |
| Other tangible fixed assets | 26 | €32,407 | €29,066 | -€3,340 | -10.3% |
| Current assets | 29/58 | €43,594 | €40,711 | -€2,883 | -6.6% |
| Amounts receivable within one year | 40/41 | €34,733 | €31,194 | -€3,539 | -10.2% |
| Trade receivables | 40 | €23,194 | €28,992 | +€5,798 | +25.0% |
| Other amounts receivable | 41 | €11,539 | €2,201 | -€9,337 | -80.9% |
| Cash at bank and in hand | 54/58 | €8,861 | €9,517 | +€656 | +7.4% |
| Total equity and liabilities | 10/49 | €246,550 | €244,598 | -€1,952 | -0.8% |
| Equity | 10/15 | €68,381 | €74,478 | +€6,097 | +8.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,381 | €69,478 | +€6,097 | +9.6% |
| Amounts payable | 17/49 | €178,168 | €170,120 | -€8,049 | -4.5% |
| Amounts payable after more than one year | 17 | €5,519 | €58,208 | +€52,689 | +954.7% |
| Financial debts | 170/4 | €5,519 | €58,208 | +€52,689 | +954.7% |
| Amounts payable within one year | 42/48 | €172,650 | €111,912 | -€60,738 | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €18,720 | €17,218 | -€1,502 | -8.0% |
| Trade debts | 44 | €68,195 | €24,163 | -€44,032 | -64.6% |
| Suppliers | 440/4 | €68,195 | €24,163 | -€44,032 | -64.6% |
| Taxes, remuneration and social security | 45 | €4,753 | €1,034 | -€3,719 | -78.2% |
| Taxes | 450/3 | €4,753 | €1,034 | -€3,719 | -78.2% |
| Other amounts payable | 47/48 | €80,981 | €69,496 | -€11,485 | -14.2% |
| Non-recurring operating income | 76A | - | €13,254 | +€13,254 | |
| Remuneration, social security and pensions | 62 | €4,761 | €3,426 | -€1,335 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,632 | €46,341 | +€17,709 | +61.8% |
| Other operating charges | 640/8 | €6,736 | €4,724 | -€2,012 | -29.9% |
| Gross operating margin | 9900 | €61,860 | €66,656 | +€4,797 | +7.8% |
| Operating profit (loss) | 9901 | €21,731 | €12,166 | -€9,565 | -44.0% |
| Financial charges | 65/66B | €707 | €3,163 | +€2,456 | +347.7% |
| Recurring financial charges | 65 | €707 | €3,163 | +€2,456 | +347.7% |
| Profit (loss) for the period before taxes | 9903 | €21,024 | €9,003 | -€12,021 | -57.2% |
| Income taxes | 67/77 | €6,138 | €2,906 | -€3,232 | -52.7% |
| Profit (loss) for the period | 9904 | €14,886 | €6,097 | -€8,790 | -59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,886 | €6,097 | -€8,790 | -59.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.