VADEJO: 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.
VADEJO
Largest movements
- Formation expenses -€635
down €635 (-35.9%), from €1,769 to €1,134
- Cash -€550
down €550 (-78.3%), from €703 to €153
mainly Net result for the year (-€2,254)
- Profit (loss) carried forward -€2,254
down €2,254 (-57.7%), from -€3,907 to -€6,161
- Trade debts +€1,068
up €1,068 (+275.8%), from €387 to €1,456
- Other operating charges +€22
up €22 (+4.9%), from €449 to €472
- Financial charges +€13
up €13 (+9.1%), from €141 to €153
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 | €2,472 | €1,286 | -€1,186 | -48.0% |
| Formation expenses | 20 | €1,769 | €1,134 | -€635 | -35.9% |
| Current assets | 29/58 | €703 | €153 | -€550 | -78.3% |
| Cash at bank and in hand | 54/58 | €703 | €153 | -€550 | -78.3% |
| Total equity and liabilities | 10/49 | €2,472 | €1,286 | -€1,186 | -48.0% |
| Equity | 10/15 | €2,085 | -€169 | -€2,254 | |
| Contributions | 10/11 | €5,992 | €5,992 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,907 | -€6,161 | -€2,254 | -57.7% |
| Amounts payable | 17/49 | €387 | €1,456 | +€1,068 | +275.8% |
| Amounts payable within one year | 42/48 | €387 | €1,456 | +€1,068 | +275.8% |
| Trade debts | 44 | €387 | €1,456 | +€1,068 | +275.8% |
| Suppliers | 440/4 | €387 | €1,456 | +€1,068 | +275.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635 | €635 | -€0 | 0.0% |
| Other operating charges | 640/8 | €449 | €472 | +€22 | +4.9% |
| Gross operating margin | 9900 | -€1,002 | -€994 | +€8 | +0.8% |
| Operating profit (loss) | 9901 | -€2,087 | -€2,101 | -€14 | -0.7% |
| Financial charges | 65/66B | €141 | €153 | +€13 | +9.1% |
| Recurring financial charges | 65 | €141 | €153 | +€13 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,227 | -€2,254 | -€27 | -1.2% |
| Profit (loss) for the period | 9904 | -€2,227 | -€2,254 | -€27 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,227 | -€2,254 | -€27 | -1.2% |
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 12 October 2026 via checked.be.