VADEMECO: 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.
VADEMECO
Largest movements
- Cash +€19,696
up €19,696 (+38.6%), from €50,995 to €70,691
mainly Net result for the year (+€104,842) and Other debts (+€20,108)
- Tangible fixed assets -€7,946
down €7,946 (-5.1%), from €155,454 to €147,508
of which Land and buildings: -€6,973
- Other debts +€20,108
up €20,108 (+25.9%), from €77,734 to €97,842
- Debts after one year -€12,489
down €12,489 (-10.7%), from €116,260 to €103,771
- Reserves +€7,000
up €7,000 (+28.7%), from €24,400 to €31,400
of which Distributable reserves: +€7,000
- Tax, wage and social debts -€3,192
down €3,192 (-20.1%), from €15,886 to €12,694
- Trade debts +€3,146
up €3,146 (+418%), from €752 to €3,898
- Gross operating margin +€17,417
up €17,417 (+12.8%), from €135,658 to €153,074
- Taxes +€4,851
up €4,851 (+16.9%), from €28,733 to €33,584
- Financial income +€2,663
up €2,663 (+504%), from €528 to €3,192
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 | €267,121 | €282,200 | +€15,079 | +5.6% |
| Fixed assets | 21/28 | €155,454 | €147,508 | -€7,946 | -5.1% |
| Tangible fixed assets | 22/27 | €155,454 | €147,508 | -€7,946 | -5.1% |
| Land and buildings | 22 | €141,866 | €134,894 | -€6,973 | -4.9% |
| Plant, machinery and equipment | 23 | €10,570 | €9,170 | -€1,400 | -13.2% |
| Furniture and vehicles | 24 | €3,017 | €3,444 | +€427 | +14.1% |
| Current assets | 29/58 | €111,667 | €134,692 | +€23,025 | +20.6% |
| Amounts receivable after more than one year | 29 | €2,000 | €2,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,929 | €28,515 | +€1,586 | +5.9% |
| Trade receivables | 40 | €20,941 | €22,756 | +€1,815 | +8.7% |
| Other amounts receivable | 41 | €5,988 | €5,759 | -€229 | -3.8% |
| Current investments | 50/53 | €26,170 | €27,607 | +€1,438 | +5.5% |
| Cash at bank and in hand | 54/58 | €50,995 | €70,691 | +€19,696 | +38.6% |
| Deferred charges and accrued income | 490/1 | €5,573 | €5,879 | +€306 | +5.5% |
| Total equity and liabilities | 10/49 | €267,121 | €282,200 | +€15,079 | +5.6% |
| Equity | 10/15 | €43,000 | €50,000 | +€7,000 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,400 | €31,400 | +€7,000 | +28.7% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €24,400 | €31,400 | +€7,000 | +28.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €224,121 | €232,200 | +€8,079 | +3.6% |
| Amounts payable after more than one year | 17 | €116,260 | €103,771 | -€12,489 | -10.7% |
| Financial debts | 170/4 | €116,260 | €103,771 | -€12,489 | -10.7% |
| Amounts payable within one year | 42/48 | €107,680 | €127,955 | +€20,275 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €13,309 | €13,520 | +€212 | +1.6% |
| Trade debts | 44 | €752 | €3,898 | +€3,146 | +418% |
| Suppliers | 440/4 | €752 | €3,898 | +€3,146 | +418% |
| Taxes, remuneration and social security | 45 | €15,886 | €12,694 | -€3,192 | -20.1% |
| Taxes | 450/3 | €15,886 | €12,694 | -€3,192 | -20.1% |
| Other amounts payable | 47/48 | €77,734 | €97,842 | +€20,108 | +25.9% |
| Accrued charges and deferred income | 492/3 | €181 | €474 | +€293 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,711 | €11,371 | +€660 | +6.2% |
| Other operating charges | 640/8 | €3,513 | €4,285 | +€772 | +22.0% |
| Gross operating margin | 9900 | €135,658 | €153,074 | +€17,417 | +12.8% |
| Operating profit (loss) | 9901 | €121,434 | €137,419 | +€15,984 | +13.2% |
| Financial income | 75/76B | €528 | €3,192 | +€2,663 | +504% |
| Recurring financial income | 75 | €528 | €3,192 | +€2,663 | +504% |
| Financial charges | 65/66B | €3,177 | €2,185 | -€992 | -31.2% |
| Recurring financial charges | 65 | €3,177 | €2,185 | -€992 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €118,786 | €138,426 | +€19,640 | +16.5% |
| Income taxes | 67/77 | €28,733 | €33,584 | +€4,851 | +16.9% |
| Profit (loss) for the period | 9904 | €90,053 | €104,842 | +€14,789 | +16.4% |
| Transfer from tax-exempt reserves | 789 | €220 | €0 | -€220 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €90,274 | €104,842 | +€14,568 | +16.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.