Vadhemaco: 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.
Vadhemaco
Largest movements
- Tangible fixed assets +€59,140
up €59,140 (+571%), from €10,364 to €69,504
of which Furniture and vehicles: +€38,866
- Cash +€16,603
up €16,603 (+29.0%), from €57,158 to €73,762
mainly Debts after one year (+€36,531) and Net result for the year (+€27,414)
- Receivables within one year -€4,493
down €4,493 (-34.2%), from €13,125 to €8,632
- Deferred charges and accrued income +€1,598
up €1,598 (+108%), from €1,480 to €3,077
- Debts after one year +€36,531
new in 2026: €36,531
- Reserves +€27,414
up €27,414 (+49.8%), from €55,063 to €82,477
- Current portion of long-term debt +€10,200
new in 2026: €10,200
- Tax, wage and social debts -€2,278
down €2,278 (-10.2%), from €22,313 to €20,035
- Trade debts +€2,074
up €2,074 (+315%), from €659 to €2,733
- Gross operating margin -€24,558
down €24,558 (-36.1%), from €67,992 to €43,434
- Taxes -€5,097
down €5,097 (-38.4%), from €13,275 to €8,178
- Depreciation +€3,938
up €3,938 (+698%), from €564 to €4,502
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,127 | €154,975 | +€72,848 | +88.7% |
| Fixed assets | 21/28 | €10,364 | €69,504 | +€59,140 | +571% |
| Tangible fixed assets | 22/27 | €10,364 | €69,504 | +€59,140 | +571% |
| Plant, machinery and equipment | 23 | €9,576 | €29,850 | +€20,274 | +212% |
| Furniture and vehicles | 24 | €788 | €39,654 | +€38,866 | +4,931% |
| Current assets | 29/58 | €71,763 | €85,471 | +€13,708 | +19.1% |
| Amounts receivable within one year | 40/41 | €13,125 | €8,632 | -€4,493 | -34.2% |
| Trade receivables | 40 | €13,125 | €8,632 | -€4,493 | -34.2% |
| Cash at bank and in hand | 54/58 | €57,158 | €73,762 | +€16,603 | +29.0% |
| Deferred charges and accrued income | 490/1 | €1,480 | €3,077 | +€1,598 | +108% |
| Total equity and liabilities | 10/49 | €82,127 | €154,975 | +€72,848 | +88.7% |
| Equity | 10/15 | €57,063 | €84,477 | +€27,414 | +48.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €55,063 | €82,477 | +€27,414 | +49.8% |
| Distributable reserves | 133 | €55,063 | €82,477 | +€27,414 | +49.8% |
| Amounts payable | 17/49 | €25,064 | €70,498 | +€45,434 | +181% |
| Amounts payable after more than one year | 17 | - | €36,531 | +€36,531 | |
| Financial debts | 170/4 | - | €36,531 | +€36,531 | |
| Amounts payable within one year | 42/48 | €23,094 | €33,231 | +€10,137 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,200 | +€10,200 | |
| Trade debts | 44 | €659 | €2,733 | +€2,074 | +315% |
| Suppliers | 440/4 | €659 | €2,733 | +€2,074 | +315% |
| Taxes, remuneration and social security | 45 | €22,313 | €20,035 | -€2,278 | -10.2% |
| Taxes | 450/3 | €22,313 | €20,035 | -€2,278 | -10.2% |
| Other amounts payable | 47/48 | €122 | €264 | +€142 | +116% |
| Accrued charges and deferred income | 492/3 | €1,970 | €736 | -€1,234 | -62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564 | €4,502 | +€3,938 | +698% |
| Other operating charges | 640/8 | €702 | €872 | +€170 | +24.3% |
| Gross operating margin | 9900 | €67,992 | €43,434 | -€24,558 | -36.1% |
| Operating profit (loss) | 9901 | €66,726 | €38,060 | -€28,666 | -43.0% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €2,683 | €2,468 | -€215 | -8.0% |
| Recurring financial charges | 65 | €2,683 | €2,468 | -€215 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €64,044 | €35,592 | -€28,452 | -44.4% |
| Income taxes | 67/77 | €13,275 | €8,178 | -€5,097 | -38.4% |
| Profit (loss) for the period | 9904 | €50,768 | €27,414 | -€23,354 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,768 | €27,414 | -€23,354 | -46.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.