Vadera: 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.
Vadera
Largest movements
- Tangible fixed assets -€6,191
down €6,191 (-24.5%), from €25,300 to €19,108
of which Furniture and vehicles: -€6,088
- Stocks and contracts -€2,555
down €2,555 (-3.3%), from €78,215 to €75,660
- Profit (loss) carried forward -€8,996
down €8,996 (-5.6%), from -€159,241 to -€168,237
- Depreciation +€3,996
up €3,996 (+182%), from €2,196 to €6,191
- Gross operating margin +€3,127
up €3,127 (+67.5%), from -€4,630 to -€1,503
- Financial charges +€88
up €88 (+195%), from €45 to €133
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 | €200,315 | €190,762 | -€9,553 | -4.8% |
| Fixed assets | 21/28 | €25,300 | €19,108 | -€6,191 | -24.5% |
| Tangible fixed assets | 22/27 | €25,300 | €19,108 | -€6,191 | -24.5% |
| Land and buildings | 22 | €723 | €620 | -€103 | -14.3% |
| Furniture and vehicles | 24 | €24,577 | €18,488 | -€6,088 | -24.8% |
| Current assets | 29/58 | €175,015 | €171,654 | -€3,361 | -1.9% |
| Stocks and contracts in progress | 3 | €78,215 | €75,660 | -€2,555 | -3.3% |
| Stocks | 30/36 | €78,215 | €75,660 | -€2,555 | -3.3% |
| Amounts receivable within one year | 40/41 | €5,510 | €3,799 | -€1,712 | -31.1% |
| Trade receivables | 40 | €657 | €3,751 | +€3,094 | +471% |
| Other amounts receivable | 41 | €4,854 | €48 | -€4,806 | -99.0% |
| Cash at bank and in hand | 54/58 | €91,106 | €92,150 | +€1,045 | +1.1% |
| Deferred charges and accrued income | 490/1 | €184 | €45 | -€139 | -75.7% |
| Total equity and liabilities | 10/49 | €200,315 | €190,762 | -€9,553 | -4.8% |
| Equity | 10/15 | -€100,837 | -€109,834 | -€8,996 | -8.9% |
| Contributions | 10/11 | €49,592 | €49,592 | = | 0.0% |
| Reserves | 13 | €8,811 | €8,811 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,811 | €8,811 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,811 | €8,811 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,241 | -€168,237 | -€8,996 | -5.6% |
| Amounts payable | 17/49 | €301,152 | €300,596 | -€556 | -0.2% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,152 | €596 | -€556 | -48.3% |
| Trade debts | 44 | €618 | €359 | -€260 | -42.0% |
| Suppliers | 440/4 | €618 | €359 | -€260 | -42.0% |
| Taxes, remuneration and social security | 45 | €2 | €67 | +€65 | +3,140% |
| Taxes | 450/3 | €2 | €67 | +€65 | +3,140% |
| Other amounts payable | 47/48 | €531 | €169 | -€362 | -68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,196 | €6,191 | +€3,996 | +182% |
| Other operating charges | 640/8 | €1,140 | €1,169 | +€29 | +2.5% |
| Gross operating margin | 9900 | -€4,630 | -€1,503 | +€3,127 | +67.5% |
| Operating profit (loss) | 9901 | -€7,965 | -€8,864 | -€898 | -11.3% |
| Financial charges | 65/66B | €45 | €133 | +€88 | +195% |
| Recurring financial charges | 65 | €45 | €133 | +€88 | +195% |
| Profit (loss) for the period before taxes | 9903 | -€8,010 | -€8,996 | -€986 | -12.3% |
| Profit (loss) for the period | 9904 | -€8,010 | -€8,996 | -€986 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,010 | -€8,996 | -€986 | -12.3% |
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 18 October 2026 via checked.be.