VADECK: what changed
Two fiscal 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.
VADECK
Largest movements
- Tangible fixed assets -€19,090
down €19,090 (-33.3%), from €57,270 to €38,180
- Cash +€6,680
up €6,680 (+75.1%), from €8,899 to €15,579
mainly Depreciation (+€19,090)
- Other debts -€6,000
down €6,000 (-5.6%), from €107,467 to €101,467
- Profit (loss) carried forward -€5,938
down €5,938 (-9.0%), from -€65,892 to -€71,830
- Gross operating margin +€8,235
up €8,235 (+142.8%), from €5,765 to €14,000
- Taxes +€630
up €630, from -€630 to €0
- Financial charges +€398
up €398 (+708.0%), from €56 to €455
- Other operating charges -€330
down €330 (-45.6%), from €723 to €393
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 | €66,169 | €53,759 | -€12,410 | -18.8% |
| Fixed assets | 21/28 | €57,270 | €38,180 | -€19,090 | -33.3% |
| Tangible fixed assets | 22/27 | €57,270 | €38,180 | -€19,090 | -33.3% |
| Plant, machinery and equipment | 23 | €57,270 | €38,180 | -€19,090 | -33.3% |
| Current assets | 29/58 | €8,899 | €15,579 | +€6,680 | +75.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,899 | €15,579 | +€6,680 | +75.1% |
| Total equity and liabilities | 10/49 | €66,169 | €53,759 | -€12,410 | -18.8% |
| Equity | 10/15 | -€45,441 | -€51,379 | -€5,938 | -13.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,892 | -€71,830 | -€5,938 | -9.0% |
| Amounts payable | 17/49 | €111,610 | €105,138 | -€6,472 | -5.8% |
| Amounts payable within one year | 42/48 | €111,610 | €105,138 | -€6,472 | -5.8% |
| Trade debts | 44 | €2,653 | €2,562 | -€91 | -3.4% |
| Suppliers | 440/4 | €2,653 | €2,562 | -€91 | -3.4% |
| Taxes, remuneration and social security | 45 | €1,490 | €1,109 | -€381 | -25.6% |
| Taxes | 450/3 | €1,490 | €1,109 | -€381 | -25.6% |
| Other amounts payable | 47/48 | €107,467 | €101,467 | -€6,000 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,090 | €19,090 | = | 0.0% |
| Other operating charges | 640/8 | €723 | €393 | -€330 | -45.6% |
| Gross operating margin | 9900 | €5,765 | €14,000 | +€8,235 | +142.8% |
| Operating profit (loss) | 9901 | -€14,048 | -€5,483 | +€8,565 | +61.0% |
| Financial income | 75/76B | €76 | €0 | -€76 | -100.0% |
| Recurring financial income | 75 | €76 | €0 | -€76 | -100.0% |
| Financial charges | 65/66B | €56 | €455 | +€398 | +708.0% |
| Recurring financial charges | 65 | €56 | €455 | +€398 | +708.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,029 | -€5,938 | +€8,091 | +57.7% |
| Income taxes | 67/77 | -€630 | €0 | +€630 | |
| Profit (loss) for the period | 9904 | -€13,399 | -€5,938 | +€7,461 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,399 | -€5,938 | +€7,461 | +55.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.