VADIGRAN: 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.
What changed
VADIGRAN
NACE 46.216, Wholesale of agricultural produce and animal feed, general range
financial year 2024 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
-€1.8m
2024 · €22,677-€1.8m
Equity
€1.9m
2024 · €1.9m+€671
Cash
€595,875
2024 · €502,801+€93,074
Balance sheet total
€11.6m
2024 · €18.1m-€6.5m
Largest movements
Assets
- Receivables within one year -€5.0m
down €5.0m (-70.1%), from €7.1m to €2.1m
of which Trade receivables: -€5.0m
- Deferred charges and accrued income -€1.3m
down €1.3m (-95.5%), from €1.3m to €59,542
- Intangible fixed assets -€951,292
down €951,292 (-32.0%), from €3.0m to €2.0m
- Receivables after one year +€313,246
up €313,246 (+239.5%), from €130,808 to €444,054
of which Other amounts receivable: +€444,054
- Tangible fixed assets +€200,871
up €200,871 (+80.1%), from €250,773 to €451,644
of which Plant, machinery and equipment: +€221,345
Equity and liabilities
- Short-term financial debts -€3.6m
down €3.6m (-69.3%), from €5.1m to €1.6m
- Trade debts -€2.7m
down €2.7m (-42.5%), from €6.3m to €3.6m
- Contributions +€1.8m
up €1.8m (+1565.2%), from €115,000 to €1.9m
- Profit (loss) carried forward -€1.8m
down €1.8m, from €490,766 to -€1.3m
- Debts after one year -€1.4m
down €1.4m (-42.4%), from €3.4m to €1.9m
Income statement
- Turnover +€11.6m
up €11.6m (+33.5%), from €34.7m to €46.3m
- Goods and materials +€8.2m
up €8.2m (+33.4%), from €24.7m to €32.9m
of which Purchases: +€10.7m
- Services and other goods +€5.4m
up €5.4m (+72.8%), from €7.5m to €12.9m
- Financial income +€3.6m
up €3.6m (+2031.2%), from €179,269 to €3.8m
of which Non-recurring financial income: +€3.5m
- Depreciation +€1.0m
up €1.0m (+157.1%), from €647,074 to €1.7m
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.
Result 2024
€22,677
Turnover
+€11.6m
Other operating income
+€621,556
Goods and materials
-€8.2m
Services and other goods
-€5.4m
Staff costs
-€675,682
Depreciation
-€1.0m
Write-downs
-€93,726
Other operating charges
-€289,818
Other operating items
-€1.7m
Financial income
+€3.6m
Financial charges
-€287,145
Taxes
-€2,421
Result 2025
-€1.8m
Cash bridge derived
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,077,430 | €11,561,484 | -€6.5m | -36.0% |
| Formation expenses | 20 | €238,262 | €383,336 | +€145,074 | +60.9% |
| Fixed assets | 21/28 | €3,734,345 | €3,019,966 | -€714,379 | -19.1% |
| Intangible fixed assets | 21 | €2,973,572 | €2,022,280 | -€951,292 | -32.0% |
| Tangible fixed assets | 22/27 | €250,773 | €451,644 | +€200,871 | +80.1% |
| Land and buildings | 22 | €10,374 | €6,662 | -€3,712 | -35.8% |
| Plant, machinery and equipment | 23 | €18,801 | €240,145 | +€221,345 | +1177.3% |
| Furniture and vehicles | 24 | €221,599 | €60,999 | -€160,600 | -72.5% |
| Leasing and similar rights | 25 | - | €143,838 | +€143,838 | |
| Financial fixed assets | 28 | €510,000 | €546,042 | +€36,042 | +7.1% |
| Affiliated companies | 280/1 | €510,000 | €500,000 | -€10,000 | -2.0% |
| Participating interests | 280 | €510,000 | €500,000 | -€10,000 | -2.0% |
| Other financial fixed assets | 284/8 | - | €46,042 | +€46,042 | |
| Amounts receivable and cash guarantees | 285/8 | - | €46,042 | +€46,042 | |
| Current assets | 29/58 | €14,104,822 | €8,158,182 | -€5.9m | -42.2% |
| Amounts receivable after more than one year | 29 | €130,808 | €444,054 | +€313,246 | +239.5% |
| Trade receivables | 290 | €130,808 | - | -€130,808 | |
| Other amounts receivable | 291 | - | €444,054 | +€444,054 | |
| Stocks and contracts in progress | 3 | €5,053,932 | €4,934,581 | -€119,351 | -2.4% |
| Stocks | 30/36 | €5,053,932 | €4,934,581 | -€119,351 | -2.4% |
| Raw materials and consumables | 30/31 | €1,001 | - | -€1,001 | |
| Goods purchased for resale | 34 | €4,819,856 | €4,796,367 | -€23,489 | -0.5% |
| Advance payments | 36 | €233,074 | €138,213 | -€94,861 | -40.7% |
| Amounts receivable within one year | 40/41 | €7,096,416 | €2,124,131 | -€5.0m | -70.1% |
| Trade receivables | 40 | €6,616,285 | €1,579,887 | -€5.0m | -76.1% |
| Other amounts receivable | 41 | €480,131 | €544,244 | +€64,112 | +13.4% |
| Cash at bank and in hand | 54/58 | €502,801 | €595,875 | +€93,074 | +18.5% |
| Deferred charges and accrued income | 490/1 | €1,320,866 | €59,542 | -€1.3m | -95.5% |
| Total equity and liabilities | 10/49 | €18,077,430 | €11,561,484 | -€6.5m | -36.0% |
| Equity | 10/15 | €1,862,266 | €1,862,937 | +€671 | 0.0% |
| Contributions | 10/11 | €115,000 | €1,915,000 | +€1.8m | +1565.2% |
| Capital | 10 | €115,000 | €1,915,000 | +€1.8m | +1565.2% |
| Issued capital | 100 | €115,000 | €1,915,000 | +€1.8m | +1565.2% |
| Reserves | 13 | €1,256,500 | €1,256,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Legal reserve | 130 | €11,500 | €11,500 | = | 0.0% |
| Distributable reserves | 133 | €1,245,000 | €1,245,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €490,766 | -€1,308,563 | -€1.8m | |
| Amounts payable | 17/49 | €16,215,165 | €9,698,547 | -€6.5m | -40.2% |
| Amounts payable after more than one year | 17 | €3,356,028 | €1,933,665 | -€1.4m | -42.4% |
| Financial debts | 170/4 | €3,356,028 | €1,933,665 | -€1.4m | -42.4% |
| Subordinated loans | 170 | €2,145,745 | €734,620 | -€1.4m | -65.8% |
| Leasing and similar obligations | 172 | - | €102,885 | +€102,885 | |
| Other loans | 174 | €1,210,283 | €1,096,160 | -€114,123 | -9.4% |
| Amounts payable within one year | 42/48 | €12,540,988 | €6,832,033 | -€5.7m | -45.5% |
| Current portion of amounts payable after more than one year | 42 | €161,989 | €259,030 | +€97,041 | +59.9% |
| Financial debts | 43 | €5,137,184 | €1,577,452 | -€3.6m | -69.3% |
| Credit institutions | 430/8 | €5,137,184 | €1,577,452 | -€3.6m | -69.3% |
| Trade debts | 44 | €6,292,029 | €3,618,109 | -€2.7m | -42.5% |
| Suppliers | 440/4 | €6,292,029 | €3,618,109 | -€2.7m | -42.5% |
| Taxes, remuneration and social security | 45 | €735,522 | €283,093 | -€452,430 | -61.5% |
| Taxes | 450/3 | €189,326 | €75,021 | -€114,304 | -60.4% |
| Remuneration and social security | 454/9 | €546,197 | €208,072 | -€338,125 | -61.9% |
| Other amounts payable | 47/48 | €214,263 | €1,094,349 | +€880,086 | +410.7% |
| Accrued charges and deferred income | 492/3 | €318,149 | €932,850 | +€614,701 | +193.2% |
| Operating income | 70/76A | €36,646,998 | €48,294,406 | +€11.6m | +31.8% |
| Turnover | 70 | €34,678,261 | €46,299,091 | +€11.6m | +33.5% |
| Own construction capitalised | 72 | €1,058,568 | €400,068 | -€658,500 | -62.2% |
| Other operating income | 74 | €910,052 | €1,531,608 | +€621,556 | +68.3% |
| Non-recurring operating income | 76A | €117 | €63,639 | +€63,522 | +54292.4% |
| Operating charges | 60/66A | €35,838,682 | €52,659,813 | +€16.8m | +46.9% |
| Goods for resale, raw materials and consumables | 60 | €24,656,278 | €32,885,486 | +€8.2m | +33.4% |
| Purchases | 600/8 | €22,232,776 | €32,964,049 | +€10.7m | +48.3% |
| Change in stocks: decrease (increase) | 609 | €2,423,502 | -€78,562 | -€2.5m | |
| Services and other goods | 61 | €7,472,571 | €12,911,497 | +€5.4m | +72.8% |
| Remuneration, social security and pensions | 62 | €2,904,281 | €3,579,963 | +€675,682 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €647,074 | €1,663,864 | +€1.0m | +157.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,190 | €94,916 | +€93,726 | +7876.3% |
| Other operating charges | 640/8 | €91,169 | €380,987 | +€289,818 | +317.9% |
| Operating charges capitalised as restructuring costs | 649 | - | -€306,294 | -€306,294 | |
| Non-recurring operating charges | 66A | €66,120 | €1,449,394 | +€1.4m | +2092.1% |
| Operating profit (loss) | 9901 | €808,317 | -€4,365,406 | -€5.2m | |
| Financial income | 75/76B | €179,269 | €3,820,552 | +€3.6m | +2031.2% |
| Recurring financial income | 75 | €179,269 | €330,552 | +€151,283 | +84.4% |
| Income from current assets | 751 | - | €241,080 | +€241,080 | |
| Other financial income | 752/9 | €179,269 | €89,472 | -€89,797 | -50.1% |
| Non-recurring financial income | 76B | - | €3,490,000 | +€3.5m | |
| Financial charges | 65/66B | €963,139 | €1,250,284 | +€287,145 | +29.8% |
| Recurring financial charges | 65 | €963,139 | €1,250,284 | +€287,145 | +29.8% |
| Debt charges | 650 | €648,846 | €859,826 | +€210,980 | +32.5% |
| Other financial charges | 652/9 | €314,292 | €390,458 | +€76,165 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €24,447 | -€1,795,138 | -€1.8m | |
| Income taxes | 67/77 | €1,769 | €4,191 | +€2,421 | +136.8% |
| Taxes | 670/3 | €3,740 | €4,191 | +€450 | +12.0% |
| Tax adjustments and reversals of tax provisions | 77 | €1,971 | - | -€1,971 | |
| Profit (loss) for the period | 9904 | €22,677 | -€1,799,329 | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €22,677 | -€1,799,329 | -€1.8m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.