Vademo: what changed
Vademo
Largest movements
- Cash +€53,062
up €53,062 (+19.4%), from €273,588 to €326,650
mainly Net result for the year (+€78,137) and Other debts (+€37,102)
- Receivables within one year +€16,307
up €16,307 (+140%), from €11,644 to €27,951
of which Trade receivables: +€17,507
- Current investments +€13,273
up €13,273 (+35.6%), from €37,248 to €50,521
- Other debts +€37,102
up €37,102 (+4,976%), from €746 to €37,848
- Reserves +€36,000
up €36,000 (+12.3%), from €293,400 to €329,400
of which Distributable reserves: +€36,000
- Tax, wage and social debts +€7,861
up €7,861 (+77.1%), from €10,191 to €18,052
of which Taxes: +€7,847
- Gross operating margin +€20,376
up €20,376 (+23.0%), from €88,602 to €108,977
- Taxes +€11,557
up €11,557 (+59.3%), from €19,488 to €31,045
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €323,391 | €407,846 | +€84,455 | +26.1% |
| Fixed assets | 21/28 | - | €1,737 | +€1,737 | |
| Tangible fixed assets | 22/27 | - | €1,737 | +€1,737 | |
| Plant, machinery and equipment | 23 | - | €1,737 | +€1,737 | |
| Current assets | 29/58 | €323,391 | €406,109 | +€82,718 | +25.6% |
| Amounts receivable within one year | 40/41 | €11,644 | €27,951 | +€16,307 | +140% |
| Trade receivables | 40 | €10,444 | €27,951 | +€17,507 | +168% |
| Other amounts receivable | 41 | €1,200 | - | -€1,200 | |
| Current investments | 50/53 | €37,248 | €50,521 | +€13,273 | +35.6% |
| Cash at bank and in hand | 54/58 | €273,588 | €326,650 | +€53,062 | +19.4% |
| Deferred charges and accrued income | 490/1 | €911 | €987 | +€76 | +8.4% |
| Total equity and liabilities | 10/49 | €323,391 | €407,846 | +€84,455 | +26.1% |
| Equity | 10/15 | €311,696 | €350,833 | +€39,137 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €293,400 | €329,400 | +€36,000 | +12.3% |
| Non-distributable reserves | 130/1 | €2,400 | €2,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,400 | €2,400 | = | 0.0% |
| Distributable reserves | 133 | €291,000 | €327,000 | +€36,000 | +12.4% |
| Profit (loss) carried forward | 14 | €12,096 | €15,233 | +€3,137 | +25.9% |
| Amounts payable | 17/49 | €11,694 | €57,013 | +€45,318 | +388% |
| Amounts payable within one year | 42/48 | €11,694 | €57,013 | +€45,318 | +388% |
| Trade debts | 44 | €758 | €1,113 | +€355 | +46.9% |
| Suppliers | 440/4 | €758 | €1,113 | +€355 | +46.9% |
| Taxes, remuneration and social security | 45 | €10,191 | €18,052 | +€7,861 | +77.1% |
| Taxes | 450/3 | €7,338 | €15,185 | +€7,847 | +107% |
| Remuneration and social security | 454/9 | €2,853 | €2,867 | +€14 | +0.5% |
| Other amounts payable | 47/48 | €746 | €37,848 | +€37,102 | +4,976% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €80 | +€80 | |
| Other operating charges | 640/8 | €119 | €1,048 | +€929 | +782% |
| Gross operating margin | 9900 | €88,602 | €108,977 | +€20,376 | +23.0% |
| Operating profit (loss) | 9901 | €88,483 | €107,850 | +€19,367 | +21.9% |
| Financial income | 75/76B | €2,141 | €1,397 | -€744 | -34.8% |
| Recurring financial income | 75 | €2,141 | €1,397 | -€744 | -34.8% |
| Financial charges | 65/66B | €108 | €64 | -€43 | -40.1% |
| Recurring financial charges | 65 | €108 | €64 | -€43 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €90,516 | €109,182 | +€18,665 | +20.6% |
| Income taxes | 67/77 | €19,488 | €31,045 | +€11,557 | +59.3% |
| Profit (loss) for the period | 9904 | €71,028 | €78,137 | +€7,109 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,028 | €78,137 | +€7,109 | +10.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.