VADELE: 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.
VADELE
Largest movements
- Tangible fixed assets -€14,419
down €14,419 (-4.6%), from €315,616 to €301,197
of which Land and buildings: -€13,680
- Current portion of long-term debt -€29,292
down €29,292 (-55.5%), from €52,762 to €23,469
- Other debts +€27,134
up €27,134 (+6.9%), from €394,679 to €421,813
- Debts after one year -€23,469
down €23,469 (-44.3%), from €53,023 to €29,554
- Trade debts +€10,220
up €10,220 (+4272.5%), from €239 to €10,459
- Gross operating margin -€12,854
down €12,854 (-33.5%), from €38,360 to €25,506
- Financial charges -€6,609
down €6,609 (-55.6%), from €11,881 to €5,273
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €315,616 | €301,197 | -€14,419 | -4.6% |
| Fixed assets | 21/28 | €315,616 | €301,197 | -€14,419 | -4.6% |
| Tangible fixed assets | 22/27 | €315,616 | €301,197 | -€14,419 | -4.6% |
| Land and buildings | 22 | €312,594 | €298,914 | -€13,680 | -4.4% |
| Other tangible fixed assets | 26 | €3,022 | €2,283 | -€739 | -24.4% |
| Total equity and liabilities | 10/49 | €315,616 | €301,197 | -€14,419 | -4.6% |
| Equity | 10/15 | -€185,240 | -€184,252 | +€987 | +0.5% |
| Contributions | 10/11 | €48,000 | €48,000 | = | 0.0% |
| Reserves | 13 | €4,800 | €4,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,800 | €4,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,800 | €4,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,040 | -€237,052 | +€987 | +0.4% |
| Amounts payable | 17/49 | €500,856 | €485,449 | -€15,406 | -3.1% |
| Amounts payable after more than one year | 17 | €53,023 | €29,554 | -€23,469 | -44.3% |
| Financial debts | 170/4 | €53,023 | €29,554 | -€23,469 | -44.3% |
| Amounts payable within one year | 42/48 | €447,833 | €455,896 | +€8,063 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €52,762 | €23,469 | -€29,292 | -55.5% |
| Financial debts | 43 | €153 | €154 | +€2 | +1.2% |
| Credit institutions | 430/8 | €153 | €154 | +€2 | +1.2% |
| Trade debts | 44 | €239 | €10,459 | +€10,220 | +4272.5% |
| Suppliers | 440/4 | €239 | €10,459 | +€10,220 | +4272.5% |
| Other amounts payable | 47/48 | €394,679 | €421,813 | +€27,134 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,352 | €14,419 | +€67 | +0.5% |
| Other operating charges | 640/8 | €4,689 | €4,827 | +€139 | +3.0% |
| Gross operating margin | 9900 | €38,360 | €25,506 | -€12,854 | -33.5% |
| Operating profit (loss) | 9901 | €19,319 | €6,260 | -€13,059 | -67.6% |
| Financial charges | 65/66B | €11,881 | €5,273 | -€6,609 | -55.6% |
| Recurring financial charges | 65 | €11,881 | €5,273 | -€6,609 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €7,438 | €987 | -€6,451 | -86.7% |
| Profit (loss) for the period | 9904 | €7,438 | €987 | -€6,451 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,438 | €987 | -€6,451 | -86.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.