VADEMEU: 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.
VADEMEU
Largest movements
- Current investments -€220,911
no longer reported in 2025 (was €220,911)
- Cash +€162,775
up €162,775 (+335%), from €48,525 to €211,300
mainly Current investments (+€220,911) and Deferred charges and accrued income (+€18,178)
- Receivables after one year +€85,000
up €85,000 (+5.8%), from €1.5m to €1.6m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€5,039
up €5,039 (+37.5%), from -€13,454 to -€8,415
- Financial income +€4,052
up €4,052 (+26.8%), from €15,092 to €19,144
- Financial charges +€280
up €280 (+718%), from €39 to €319
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 | €3,034,097 | €3,043,974 | +€9,877 | +0.3% |
| Fixed assets | 21/28 | €1,258,148 | €1,258,148 | = | 0.0% |
| Financial fixed assets | 28 | €1,258,148 | €1,258,148 | = | 0.0% |
| Current assets | 29/58 | €1,775,949 | €1,785,826 | +€9,877 | +0.6% |
| Amounts receivable after more than one year | 29 | €1,473,100 | €1,558,100 | +€85,000 | +5.8% |
| Other amounts receivable | 291 | €1,473,100 | €1,558,100 | +€85,000 | +5.8% |
| Amounts receivable within one year | 40/41 | €53 | €1,244 | +€1,191 | +2,247% |
| Other amounts receivable | 41 | €53 | €1,244 | +€1,191 | +2,247% |
| Current investments | 50/53 | €220,911 | - | -€220,911 | |
| Cash at bank and in hand | 54/58 | €48,525 | €211,300 | +€162,775 | +335% |
| Deferred charges and accrued income | 490/1 | €33,360 | €15,182 | -€18,178 | -54.5% |
| Total equity and liabilities | 10/49 | €3,034,097 | €3,043,974 | +€9,877 | +0.3% |
| Equity | 10/15 | €3,034,097 | €3,043,254 | +€9,157 | +0.3% |
| Contributions | 10/11 | €293,800 | €293,800 | = | 0.0% |
| Capital | 10 | €293,800 | €293,800 | = | 0.0% |
| Issued capital | 100 | €293,800 | €293,800 | = | 0.0% |
| Reserves | 13 | €3,104,473 | €3,104,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,380 | €29,380 | = | 0.0% |
| Legal reserve | 130 | €29,380 | €29,380 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,780,639 | €2,780,639 | = | 0.0% |
| Distributable reserves | 133 | €294,454 | €294,454 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€364,176 | -€355,019 | +€9,157 | +2.5% |
| Amounts payable | 17/49 | - | €720 | +€720 | |
| Amounts payable within one year | 42/48 | - | €720 | +€720 | |
| Taxes, remuneration and social security | 45 | - | €720 | +€720 | |
| Taxes | 450/3 | - | €720 | +€720 | |
| Other operating charges | 640/8 | €1,238 | €1,253 | +€15 | +1.2% |
| Non-recurring operating charges | 66A | €379,900 | - | -€379,900 | |
| Gross operating margin | 9900 | -€13,454 | -€8,415 | +€5,039 | +37.5% |
| Operating profit (loss) | 9901 | -€394,592 | -€9,668 | +€384,924 | +97.5% |
| Financial income | 75/76B | €15,092 | €19,144 | +€4,052 | +26.8% |
| Recurring financial income | 75 | €15,092 | €19,144 | +€4,052 | +26.8% |
| Financial charges | 65/66B | €39 | €319 | +€280 | +718% |
| Recurring financial charges | 65 | €39 | €319 | +€280 | +718% |
| Profit (loss) for the period before taxes | 9903 | -€379,539 | €9,157 | +€388,696 | |
| Profit (loss) for the period | 9904 | -€379,539 | €9,157 | +€388,696 | |
| Profit (loss) for the period to be appropriated | 9905 | -€379,539 | €9,157 | +€388,696 |
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 16 October 2026 via checked.be.