VADECAS HOLDING: 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.
VADECAS HOLDING
Largest movements
- Financial fixed assets -€2.3m
no longer reported in 2025 (was €2.3m)
- Receivables after one year +€1.7m
new in 2025: €1.7m
- Debts after one year -€818,706
down €818,706 (-76.8%), from €1.1m to €246,853
- Other debts +€232,318
up €232,318 (+13.3%), from €1.7m to €2.0m
- Financial income +€1.2m
up €1.2m (+153%), from €778,414 to €2.0m
- Gross operating margin +€7,104
up €7,104 (+12.1%), from €58,602 to €65,706
- Staff costs +€2,354
up €2,354 (+5.8%), from €40,742 to €43,097
- Taxes +€1,758
up €1,758 (+44.0%), from €3,999 to €5,757
- Financial charges -€1,330
down €1,330 (-23.7%), from €5,621 to €4,291
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 | €3,085,008 | €2,507,391 | -€577,617 | -18.7% |
| Fixed assets | 21/28 | €2,276,250 | - | -€2.3m | |
| Financial fixed assets | 28 | €2,276,250 | - | -€2.3m | |
| Current assets | 29/58 | €808,758 | €2,507,391 | +€1.7m | +210% |
| Amounts receivable after more than one year | 29 | - | €1,698,826 | +€1.7m | |
| Other amounts receivable | 291 | - | €1,698,826 | +€1.7m | |
| Amounts receivable within one year | 40/41 | €797,843 | €784,990 | -€12,853 | -1.6% |
| Trade receivables | 40 | €19,360 | €6,958 | -€12,403 | -64.1% |
| Other amounts receivable | 41 | €778,483 | €778,032 | -€451 | -0.1% |
| Cash at bank and in hand | 54/58 | €10,684 | €22,458 | +€11,774 | +110% |
| Deferred charges and accrued income | 490/1 | €231 | €1,117 | +€886 | +384% |
| Total equity and liabilities | 10/49 | €3,085,008 | €2,507,391 | -€577,617 | -18.7% |
| Equity | 10/15 | €10,000 | €10,000 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,075,008 | €2,497,391 | -€577,617 | -18.8% |
| Amounts payable after more than one year | 17 | €1,065,559 | €246,853 | -€818,706 | -76.8% |
| Financial debts | 170/4 | €1,065,559 | €246,853 | -€818,706 | -76.8% |
| Amounts payable within one year | 42/48 | €2,009,448 | €2,250,386 | +€240,937 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €244,172 | €245,509 | +€1,337 | +0.5% |
| Trade debts | 44 | €224 | €5,280 | +€5,056 | +2,255% |
| Suppliers | 440/4 | €224 | €5,280 | +€5,056 | +2,255% |
| Taxes, remuneration and social security | 45 | €15,064 | €17,291 | +€2,226 | +14.8% |
| Taxes | 450/3 | €7,542 | €9,314 | +€1,772 | +23.5% |
| Remuneration and social security | 454/9 | €7,522 | €7,977 | +€454 | +6.0% |
| Other amounts payable | 47/48 | €1,749,988 | €1,982,306 | +€232,318 | +13.3% |
| Accrued charges and deferred income | 492/3 | - | €152 | +€152 | |
| Remuneration, social security and pensions | 62 | €40,742 | €43,097 | +€2,354 | +5.8% |
| Other operating charges | 640/8 | €1,435 | €1,321 | -€114 | -7.9% |
| Gross operating margin | 9900 | €58,602 | €65,706 | +€7,104 | +12.1% |
| Operating profit (loss) | 9901 | €16,424 | €21,289 | +€4,864 | +29.6% |
| Financial income | 75/76B | €778,414 | €1,971,065 | +€1.2m | +153% |
| Recurring financial income | 75 | €778,414 | €1,971,065 | +€1.2m | +153% |
| Financial charges | 65/66B | €5,621 | €4,291 | -€1,330 | -23.7% |
| Recurring financial charges | 65 | €5,621 | €4,291 | -€1,330 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €789,217 | €1,988,063 | +€1.2m | +152% |
| Income taxes | 67/77 | €3,999 | €5,757 | +€1,758 | +44.0% |
| Profit (loss) for the period | 9904 | €785,218 | €1,982,306 | +€1.2m | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €785,218 | €1,982,306 | +€1.2m | +152% |
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 20 October 2026 via checked.be.