VADIL: 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.
VADIL
Largest movements
- Receivables within one year +€25,105
up €25,105 (+274%), from €9,154 to €34,260
of which Trade receivables: +€25,103
- Tangible fixed assets -€10,146
down €10,146 (-43.1%), from €23,547 to €13,402
- Cash +€3,988
up €3,988 (+25.9%), from €15,418 to €19,406
mainly Net result for the year (+€38,382) and Other debts (+€20,758)
- Intangible fixed assets -€1,589
down €1,589 (-100%), from €1,589 to €0
- Other debts +€20,758
up €20,758 (+81.4%), from €25,508 to €46,266
- Debts after one year -€10,687
down €10,687 (-92.2%), from €11,594 to €907
- Tax, wage and social debts +€6,249
up €6,249 (+672%), from €929 to €7,179
- Gross operating margin +€23,555
up €23,555 (+58.0%), from €40,625 to €64,180
- Depreciation -€18,276
down €18,276 (-57.6%), from €31,730 to €13,454
- Taxes +€8,639
up €8,639 (+363%), from €2,381 to €11,021
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 | €52,464 | €69,379 | +€16,915 | +32.2% |
| Fixed assets | 21/28 | €25,136 | €13,402 | -€11,735 | -46.7% |
| Intangible fixed assets | 21 | €1,589 | €0 | -€1,589 | -100% |
| Tangible fixed assets | 22/27 | €23,547 | €13,402 | -€10,146 | -43.1% |
| Furniture and vehicles | 24 | €23,547 | €13,402 | -€10,146 | -43.1% |
| Current assets | 29/58 | €27,328 | €55,977 | +€28,650 | +105% |
| Amounts receivable within one year | 40/41 | €9,154 | €34,260 | +€25,105 | +274% |
| Trade receivables | 40 | €6,536 | €31,639 | +€25,103 | +384% |
| Other amounts receivable | 41 | €2,619 | €2,621 | +€2 | +0.1% |
| Cash at bank and in hand | 54/58 | €15,418 | €19,406 | +€3,988 | +25.9% |
| Deferred charges and accrued income | 490/1 | €2,755 | €2,311 | -€444 | -16.1% |
| Total equity and liabilities | 10/49 | €52,464 | €69,379 | +€16,915 | +32.2% |
| Equity | 10/15 | €4,000 | €4,000 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,464 | €65,379 | +€16,915 | +34.9% |
| Amounts payable after more than one year | 17 | €11,594 | €907 | -€10,687 | -92.2% |
| Financial debts | 170/4 | €11,594 | €907 | -€10,687 | -92.2% |
| Amounts payable within one year | 42/48 | €36,870 | €64,472 | +€27,602 | +74.9% |
| Current portion of amounts payable after more than one year | 42 | €10,327 | €10,687 | +€360 | +3.5% |
| Financial debts | 43 | €0 | €240 | +€240 | |
| Credit institutions | 430/8 | €0 | €240 | +€240 | |
| Trade debts | 44 | €106 | €101 | -€5 | -4.9% |
| Suppliers | 440/4 | €106 | €101 | -€5 | -4.9% |
| Taxes, remuneration and social security | 45 | €929 | €7,179 | +€6,249 | +672% |
| Taxes | 450/3 | €929 | €7,179 | +€6,249 | +672% |
| Other amounts payable | 47/48 | €25,508 | €46,266 | +€20,758 | +81.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,730 | €13,454 | -€18,276 | -57.6% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €40,625 | €64,180 | +€23,555 | +58.0% |
| Operating profit (loss) | 9901 | €8,390 | €50,207 | +€41,817 | +498% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,120 | €804 | -€316 | -28.2% |
| Recurring financial charges | 65 | €1,120 | €804 | -€316 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €7,270 | €49,403 | +€42,133 | +580% |
| Income taxes | 67/77 | €2,381 | €11,021 | +€8,639 | +363% |
| Profit (loss) for the period | 9904 | €4,889 | €38,382 | +€33,494 | +685% |
| Profit (loss) for the period to be appropriated | 9905 | €4,889 | €38,382 | +€33,494 | +685% |
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 30 October 2026 via checked.be.