VADEP: 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.
VADEP
Largest movements
- Receivables within one year -€27,301
down €27,301 (-5.9%), from €459,638 to €432,337
of which Trade receivables: -€22,129
- Profit (loss) carried forward -€46,512
down €46,512, from €21,047 to -€25,465
- Debts after one year +€15,559
up €15,559 (+33.3%), from €46,783 to €62,342
- Gross operating margin -€36,360
down €36,360 (-94.9%), from €38,319 to €1,958
- Financial charges +€29,711
up €29,711 (+912.3%), from €3,257 to €32,968
- Other operating charges +€10,546
up €10,546 (+621.3%), from €1,697 to €12,244
- Taxes -€7,690
no longer reported in 2024 (was €7,690)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,358,164 | €1,321,930 | -€36,234 | -2.7% |
| Fixed assets | 21/28 | €890,140 | €886,882 | -€3,258 | -0.4% |
| Tangible fixed assets | 22/27 | €890,140 | €886,882 | -€3,258 | -0.4% |
| Land and buildings | 22 | €890,140 | €886,882 | -€3,258 | -0.4% |
| Current assets | 29/58 | €468,024 | €435,049 | -€32,976 | -7.0% |
| Amounts receivable within one year | 40/41 | €459,638 | €432,337 | -€27,301 | -5.9% |
| Trade receivables | 40 | €438,388 | €416,259 | -€22,129 | -5.0% |
| Other amounts receivable | 41 | €21,250 | €16,077 | -€5,173 | -24.3% |
| Cash at bank and in hand | 54/58 | €7,980 | €2,504 | -€5,476 | -68.6% |
| Deferred charges and accrued income | 490/1 | €407 | €208 | -€199 | -48.9% |
| Total equity and liabilities | 10/49 | €1,358,164 | €1,321,930 | -€36,234 | -2.7% |
| Equity | 10/15 | €145,837 | €99,325 | -€46,512 | -31.9% |
| Contributions | 10/11 | €124,790 | €124,790 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,047 | -€25,465 | -€46,512 | |
| Amounts payable | 17/49 | €1,212,328 | €1,222,606 | +€10,278 | +0.8% |
| Amounts payable after more than one year | 17 | €46,783 | €62,342 | +€15,559 | +33.3% |
| Financial debts | 170/4 | €46,783 | €62,342 | +€15,559 | +33.3% |
| Amounts payable within one year | 42/48 | €1,165,545 | €1,160,263 | -€5,281 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €39,858 | €39,272 | -€587 | -1.5% |
| Financial debts | 43 | €263,217 | €263,217 | = | 0.0% |
| Credit institutions | 430/8 | €263,217 | €263,217 | = | 0.0% |
| Trade debts | 44 | €412,695 | €412,598 | -€97 | 0.0% |
| Suppliers | 440/4 | €412,695 | €412,598 | -€97 | 0.0% |
| Taxes, remuneration and social security | 45 | €12,028 | €7,430 | -€4,598 | -38.2% |
| Taxes | 450/3 | €12,028 | €7,430 | -€4,598 | -38.2% |
| Other amounts payable | 47/48 | €437,747 | €437,747 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,258 | €3,258 | = | 0.0% |
| Other operating charges | 640/8 | €1,697 | €12,244 | +€10,546 | +621.3% |
| Gross operating margin | 9900 | €38,319 | €1,958 | -€36,360 | -94.9% |
| Operating profit (loss) | 9901 | €33,363 | -€13,544 | -€46,907 | |
| Financial charges | 65/66B | €3,257 | €32,968 | +€29,711 | +912.3% |
| Recurring financial charges | 65 | €3,257 | €32,968 | +€29,711 | +912.3% |
| Profit (loss) for the period before taxes | 9903 | €30,106 | -€46,512 | -€76,618 | |
| Income taxes | 67/77 | €7,690 | - | -€7,690 | |
| Profit (loss) for the period | 9904 | €22,416 | -€46,512 | -€68,928 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,416 | -€46,512 | -€68,928 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.