VADE en Co: 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.
VADE en Co
Largest movements
- Cash +€62,475
up €62,475 (+38.1%), from €164,043 to €226,518
mainly Net result for the year (+€42,044) and Depreciation (+€22,836)
- Tangible fixed assets -€17,926
down €17,926 (-6.1%), from €292,516 to €274,590
of which Plant, machinery and equipment: -€13,671
- Receivables within one year -€11,041
down €11,041 (-38.8%), from €28,435 to €17,394
of which Other amounts receivable: -€15,850
- Reserves +€42,044
up €42,044 (+13.6%), from €309,783 to €351,827
of which Distributable reserves: +€42,044
- Gross operating margin -€22,561
down €22,561 (-8.4%), from €267,020 to €244,459
- Taxes +€15,850
new in 2025: €15,850
- Staff costs -€11,311
down €11,311 (-7.4%), from €152,535 to €141,224
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 | €492,671 | €526,247 | +€33,576 | +6.8% |
| Fixed assets | 21/28 | €293,956 | €276,030 | -€17,926 | -6.1% |
| Tangible fixed assets | 22/27 | €292,516 | €274,590 | -€17,926 | -6.1% |
| Land and buildings | 22 | €181,070 | €176,815 | -€4,255 | -2.3% |
| Plant, machinery and equipment | 23 | €111,446 | €97,775 | -€13,671 | -12.3% |
| Financial fixed assets | 28 | €1,440 | €1,440 | = | 0.0% |
| Current assets | 29/58 | €198,715 | €250,216 | +€51,501 | +25.9% |
| Stocks and contracts in progress | 3 | €984 | €790 | -€194 | -19.7% |
| Stocks | 30/36 | €984 | €790 | -€194 | -19.7% |
| Amounts receivable within one year | 40/41 | €28,435 | €17,394 | -€11,041 | -38.8% |
| Trade receivables | 40 | €5,772 | €10,582 | +€4,809 | +83.3% |
| Other amounts receivable | 41 | €22,662 | €6,812 | -€15,850 | -69.9% |
| Cash at bank and in hand | 54/58 | €164,043 | €226,518 | +€62,475 | +38.1% |
| Deferred charges and accrued income | 490/1 | €5,253 | €5,515 | +€261 | +5.0% |
| Total equity and liabilities | 10/49 | €492,671 | €526,247 | +€33,576 | +6.8% |
| Equity | 10/15 | €459,783 | €501,827 | +€42,044 | +9.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €309,783 | €351,827 | +€42,044 | +13.6% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €294,783 | €336,827 | +€42,044 | +14.3% |
| Amounts payable | 17/49 | €32,888 | €24,419 | -€8,469 | -25.8% |
| Amounts payable within one year | 42/48 | €26,992 | €18,176 | -€8,816 | -32.7% |
| Trade debts | 44 | €7,818 | €3,573 | -€4,245 | -54.3% |
| Suppliers | 440/4 | €7,818 | €3,573 | -€4,245 | -54.3% |
| Taxes, remuneration and social security | 45 | €19,175 | €14,603 | -€4,571 | -23.8% |
| Taxes | 450/3 | €3,203 | €3,549 | +€346 | +10.8% |
| Remuneration and social security | 454/9 | €15,971 | €11,054 | -€4,917 | -30.8% |
| Accrued charges and deferred income | 492/3 | €5,896 | €6,243 | +€347 | +5.9% |
| Remuneration, social security and pensions | 62 | €152,535 | €141,224 | -€11,311 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,710 | €22,836 | +€2,125 | +10.3% |
| Other operating charges | 640/8 | €19,576 | €20,956 | +€1,380 | +7.0% |
| Gross operating margin | 9900 | €267,020 | €244,459 | -€22,561 | -8.4% |
| Operating profit (loss) | 9901 | €74,199 | €59,444 | -€14,755 | -19.9% |
| Financial income | 75/76B | €570 | €52 | -€519 | -91.0% |
| Recurring financial income | 75 | €570 | €52 | -€519 | -91.0% |
| Financial charges | 65/66B | €1,695 | €1,601 | -€94 | -5.5% |
| Recurring financial charges | 65 | €1,695 | €1,601 | -€94 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €73,075 | €57,894 | -€15,181 | -20.8% |
| Income taxes | 67/77 | - | €15,850 | +€15,850 | |
| Profit (loss) for the period | 9904 | €73,075 | €42,044 | -€31,030 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,075 | €42,044 | -€31,030 | -42.5% |
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 26 October 2026 via checked.be.