VADEQ: 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.
VADEQ
Largest movements
- Tangible fixed assets -€16,926
down €16,926 (-9.0%), from €188,329 to €171,403
- Cash +€6,632
up €6,632 (+132.0%), from €5,026 to €11,659
mainly Depreciation (+€16,926)
- Profit (loss) carried forward -€6,105
down €6,105 (-9.7%), from -€63,014 to -€69,120
- Other debts -€4,000
down €4,000 (-15.8%), from €25,301 to €21,301
- Gross operating margin +€3,814
up €3,814 (+53.7%), from €7,098 to €10,912
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
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 | €193,726 | €183,431 | -€10,294 | -5.3% |
| Fixed assets | 21/28 | €188,699 | €171,773 | -€16,926 | -9.0% |
| Tangible fixed assets | 22/27 | €188,329 | €171,403 | -€16,926 | -9.0% |
| Land and buildings | 22 | €188,329 | €171,403 | -€16,926 | -9.0% |
| Financial fixed assets | 28 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €5,026 | €11,659 | +€6,632 | +132.0% |
| Cash at bank and in hand | 54/58 | €5,026 | €11,659 | +€6,632 | +132.0% |
| Total equity and liabilities | 10/49 | €193,726 | €183,431 | -€10,294 | -5.3% |
| Equity | 10/15 | €168,236 | €162,130 | -€6,105 | -3.6% |
| Contributions | 10/11 | €231,250 | €231,250 | = | 0.0% |
| Capital | 10 | €231,250 | €231,250 | = | 0.0% |
| Issued capital | 100 | €231,250 | €231,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,014 | -€69,120 | -€6,105 | -9.7% |
| Amounts payable | 17/49 | €25,490 | €21,301 | -€4,189 | -16.4% |
| Amounts payable within one year | 42/48 | €25,301 | €21,301 | -€4,000 | -15.8% |
| Other amounts payable | 47/48 | €25,301 | €21,301 | -€4,000 | -15.8% |
| Accrued charges and deferred income | 492/3 | €189 | - | -€189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,926 | €16,926 | = | 0.0% |
| Gross operating margin | 9900 | €7,098 | €10,912 | +€3,814 | +53.7% |
| Operating profit (loss) | 9901 | -€9,828 | -€6,014 | +€3,814 | +38.8% |
| Financial charges | 65/66B | €93 | €91 | -€1 | -1.6% |
| Recurring financial charges | 65 | €93 | €91 | -€1 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,921 | -€6,105 | +€3,815 | +38.5% |
| Profit (loss) for the period | 9904 | -€9,921 | -€6,105 | +€3,815 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,921 | -€6,105 | +€3,815 | +38.5% |
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 6 October 2026 via checked.be.