Vadeha: 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.
Vadeha
Largest movements
- Tangible fixed assets -€51,839
down €51,839 (-4.2%), from €1.2m to €1.2m
of which Land and buildings: -€44,228
- Receivables within one year +€21,287
up €21,287 (+10.2%), from €207,889 to €229,176
of which Other amounts receivable: +€13,720
- Debts after one year -€85,229
down €85,229 (-17.6%), from €483,960 to €398,731
- Reserves +€81,192
up €81,192 (+10.5%), from €775,845 to €857,037
of which Distributable reserves: +€81,192
- Other debts -€64,195
down €64,195 (-48.2%), from €133,150 to €68,955
- Accrued charges and deferred income +€26,685
up €26,685 (+30.2%), from €88,349 to €115,034
- Gross operating margin -€41,702
down €41,702 (-18.1%), from €230,140 to €188,437
- Taxes -€12,214
down €12,214 (-28.8%), from €42,379 to €30,165
- Depreciation -€5,092
down €5,092 (-8.9%), from €56,930 to €51,839
- Financial charges -€2,677
down €2,677 (-10.8%), from €24,837 to €22,161
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 | €1,639,234 | €1,609,064 | -€30,170 | -1.8% |
| Fixed assets | 21/28 | €1,225,713 | €1,173,875 | -€51,839 | -4.2% |
| Tangible fixed assets | 22/27 | €1,225,713 | €1,173,875 | -€51,839 | -4.2% |
| Land and buildings | 22 | €1,210,464 | €1,166,236 | -€44,228 | -3.7% |
| Plant, machinery and equipment | 23 | €3,291 | €1,294 | -€1,997 | -60.7% |
| Furniture and vehicles | 24 | €11,957 | €6,344 | -€5,613 | -46.9% |
| Current assets | 29/58 | €413,521 | €435,189 | +€21,669 | +5.2% |
| Amounts receivable within one year | 40/41 | €207,889 | €229,176 | +€21,287 | +10.2% |
| Trade receivables | 40 | €181,654 | €189,221 | +€7,566 | +4.2% |
| Other amounts receivable | 41 | €26,235 | €39,955 | +€13,720 | +52.3% |
| Cash at bank and in hand | 54/58 | €124,278 | €129,680 | +€5,402 | +4.3% |
| Deferred charges and accrued income | 490/1 | €81,353 | €76,333 | -€5,020 | -6.2% |
| Total equity and liabilities | 10/49 | €1,639,234 | €1,609,064 | -€30,170 | -1.8% |
| Equity | 10/15 | €782,845 | €864,037 | +€81,192 | +10.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €775,845 | €857,037 | +€81,192 | +10.5% |
| Tax-exempt reserves | 132 | €43,000 | €43,000 | = | 0.0% |
| Distributable reserves | 133 | €732,845 | €814,037 | +€81,192 | +11.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €856,389 | €745,027 | -€111,362 | -13.0% |
| Amounts payable after more than one year | 17 | €483,960 | €398,731 | -€85,229 | -17.6% |
| Financial debts | 170/4 | €483,960 | €398,731 | -€85,229 | -17.6% |
| Amounts payable within one year | 42/48 | €284,080 | €231,262 | -€52,818 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €82,582 | €85,229 | +€2,647 | +3.2% |
| Financial debts | 43 | €12,774 | €12,737 | -€37 | -0.3% |
| Credit institutions | 430/8 | €12,774 | €12,737 | -€37 | -0.3% |
| Trade debts | 44 | €48,674 | €53,419 | +€4,746 | +9.7% |
| Suppliers | 440/4 | €48,674 | €53,419 | +€4,746 | +9.7% |
| Taxes, remuneration and social security | 45 | €6,900 | €10,921 | +€4,021 | +58.3% |
| Taxes | 450/3 | €3,300 | €10,921 | +€7,621 | +230.9% |
| Remuneration and social security | 454/9 | €3,600 | €0 | -€3,600 | -100.0% |
| Other amounts payable | 47/48 | €133,150 | €68,955 | -€64,195 | -48.2% |
| Accrued charges and deferred income | 492/3 | €88,349 | €115,034 | +€26,685 | +30.2% |
| Non-recurring operating income | 76A | - | €12,145 | +€12,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,930 | €51,839 | -€5,092 | -8.9% |
| Other operating charges | 640/8 | €3,414 | €3,081 | -€333 | -9.8% |
| Gross operating margin | 9900 | €230,140 | €188,437 | -€41,702 | -18.1% |
| Operating profit (loss) | 9901 | €169,795 | €133,518 | -€36,277 | -21.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €24,837 | €22,161 | -€2,677 | -10.8% |
| Recurring financial charges | 65 | €24,837 | €22,161 | -€2,677 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €144,958 | €111,358 | -€33,600 | -23.2% |
| Income taxes | 67/77 | €42,379 | €30,165 | -€12,214 | -28.8% |
| Profit (loss) for the period | 9904 | €102,578 | €81,192 | -€21,386 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €102,578 | €81,192 | -€21,386 | -20.8% |
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 11 October 2026 via checked.be.