VADECA INVEST: 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.
VADECA INVEST
Largest movements
- Tangible fixed assets -€10,378
down €10,378 (-4.0%), from €260,833 to €250,455
of which Land and buildings: -€9,080
- Receivables within one year -€5,083
down €5,083 (-23.2%), from €21,939 to €16,856
of which Trade receivables: -€2,750
- Cash -€4,006
down €4,006 (-3.5%), from €114,194 to €110,188
mainly Contributions, distributions and other (-€167,396) and Debts after one year (-€19,249)
- Reserves -€138,776
down €138,776 (-100%), from €138,776 to €0
- Other debts +€137,664
up €137,664 (+198,248%), from €69 to €137,733
- Debts after one year -€19,249
down €19,249 (-9.7%), from €197,511 to €178,262
- Short-term financial debts -€11,370
down €11,370 (-69.2%), from €16,440 to €5,070
- Tax, wage and social debts +€11,293
up €11,293, from €0 to €11,293
of which Remuneration and social security: +€7,000
- Gross operating margin -€82,013
down €82,013 (-59.6%), from €137,605 to €55,592
- Taxes -€17,483
down €17,483 (-65.0%), from €26,877 to €9,394
- Financial income -€2,959
down €2,959 (-99.9%), from €2,962 to €3
- Other operating charges +€1,849
up €1,849 (+87.0%), from €2,126 to €3,975
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 | €398,781 | €379,757 | -€19,024 | -4.8% |
| Fixed assets | 21/28 | €261,333 | €250,955 | -€10,378 | -4.0% |
| Tangible fixed assets | 22/27 | €260,833 | €250,455 | -€10,378 | -4.0% |
| Land and buildings | 22 | €257,444 | €248,364 | -€9,080 | -3.5% |
| Furniture and vehicles | 24 | €3,389 | €2,092 | -€1,298 | -38.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €137,448 | €128,802 | -€8,646 | -6.3% |
| Amounts receivable within one year | 40/41 | €21,939 | €16,856 | -€5,083 | -23.2% |
| Trade receivables | 40 | €13,750 | €11,000 | -€2,750 | -20.0% |
| Other amounts receivable | 41 | €8,189 | €5,856 | -€2,333 | -28.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €114,194 | €110,188 | -€4,006 | -3.5% |
| Deferred charges and accrued income | 490/1 | €1,315 | €1,758 | +€444 | +33.8% |
| Total equity and liabilities | 10/49 | €398,781 | €379,757 | -€19,024 | -4.8% |
| Equity | 10/15 | €157,326 | €18,550 | -€138,776 | -88.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €138,776 | €0 | -€138,776 | -100% |
| Distributable reserves | 133 | €138,776 | €0 | -€138,776 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €241,455 | €361,207 | +€119,753 | +49.6% |
| Amounts payable after more than one year | 17 | €197,511 | €178,262 | -€19,249 | -9.7% |
| Financial debts | 170/4 | €197,511 | €178,262 | -€19,249 | -9.7% |
| Amounts payable within one year | 42/48 | €35,733 | €174,735 | +€139,002 | +389% |
| Current portion of amounts payable after more than one year | 42 | €19,028 | €19,249 | +€221 | +1.2% |
| Financial debts | 43 | €16,440 | €5,070 | -€11,370 | -69.2% |
| Credit institutions | 430/8 | €16,440 | €5,070 | -€11,370 | -69.2% |
| Trade debts | 44 | €196 | €1,390 | +€1,194 | +609% |
| Suppliers | 440/4 | €196 | €1,390 | +€1,194 | +609% |
| Taxes, remuneration and social security | 45 | €0 | €11,293 | +€11,293 | |
| Taxes | 450/3 | €0 | €4,293 | +€4,293 | |
| Remuneration and social security | 454/9 | - | €7,000 | +€7,000 | |
| Other amounts payable | 47/48 | €69 | €137,733 | +€137,664 | +198,248% |
| Accrued charges and deferred income | 492/3 | €8,210 | €8,210 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,950 | €10,378 | -€572 | -5.2% |
| Other operating charges | 640/8 | €2,126 | €3,975 | +€1,849 | +87.0% |
| Gross operating margin | 9900 | €137,605 | €55,592 | -€82,013 | -59.6% |
| Operating profit (loss) | 9901 | €124,529 | €41,239 | -€83,289 | -66.9% |
| Financial income | 75/76B | €2,962 | €3 | -€2,959 | -99.9% |
| Recurring financial income | 75 | €2,962 | €3 | -€2,959 | -99.9% |
| Financial charges | 65/66B | €3,638 | €3,228 | -€409 | -11.3% |
| Recurring financial charges | 65 | €3,638 | €3,228 | -€409 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €123,852 | €38,014 | -€85,839 | -69.3% |
| Income taxes | 67/77 | €26,877 | €9,394 | -€17,483 | -65.0% |
| Profit (loss) for the period | 9904 | €96,975 | €28,620 | -€68,355 | -70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €96,975 | €28,620 | -€68,355 | -70.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.