VADIMA: 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.
VADIMA
Largest movements
- Receivables within one year -€66,380
down €66,380 (-27.0%), from €245,765 to €179,384
of which Trade receivables: -€39,557
- Cash +€47,365
up €47,365 (+46.6%), from €101,561 to €148,927
mainly Receivables within one year (+€66,380) and Net result for the year (+€39,822)
- Receivables after one year +€27,172
up €27,172 (+4.5%), from €603,825 to €630,997
of which Trade receivables: +€630,997
- Reserves +€39,822
up €39,822 (+1.7%), from €2.3m to €2.3m
of which Distributable reserves: +€39,822
- Financial income -€76,367
down €76,367 (-45.8%), from €166,771 to €90,404
- Gross operating margin +€16,535
up €16,535 (+728.2%), from €2,271 to €18,805
- Depreciation +€11,461
up €11,461 (+65.3%), from €17,564 to €29,025
- Taxes -€9,318
down €9,318 (-42.5%), from €21,925 to €12,608
- Financial charges +€3,567
up €3,567 (+41.0%), from €8,700 to €12,268
of which Financial charges: +€5,334
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,550,115 | €2,571,560 | +€21,445 | +0.8% |
| Fixed assets | 21/28 | €164,960 | €185,751 | +€20,791 | +12.6% |
| Tangible fixed assets | 22/27 | €162,731 | €183,644 | +€20,913 | +12.9% |
| Land and buildings | 22 | €117,818 | €115,584 | -€2,234 | -1.9% |
| Plant, machinery and equipment | 23 | €767 | €267 | -€500 | -65.2% |
| Furniture and vehicles | 24 | €1,105 | €29,245 | +€28,140 | +2546.5% |
| Leasing and similar rights | 25 | €43,040 | €38,548 | -€4,492 | -10.4% |
| Financial fixed assets | 28 | €2,230 | €2,107 | -€123 | -5.5% |
| Current assets | 29/58 | €2,385,155 | €2,385,809 | +€654 | 0.0% |
| Amounts receivable after more than one year | 29 | €603,825 | €630,997 | +€27,172 | +4.5% |
| Trade receivables | 290 | €0 | €630,997 | +€630,997 | |
| Other amounts receivable | 291 | €603,825 | €0 | -€603,825 | -100.0% |
| Amounts receivable within one year | 40/41 | €245,765 | €179,384 | -€66,380 | -27.0% |
| Trade receivables | 40 | €39,557 | €0 | -€39,557 | -100.0% |
| Other amounts receivable | 41 | €206,207 | €179,384 | -€26,823 | -13.0% |
| Current investments | 50/53 | €1,430,233 | €1,413,153 | -€17,080 | -1.2% |
| Cash at bank and in hand | 54/58 | €101,561 | €148,927 | +€47,365 | +46.6% |
| Deferred charges and accrued income | 490/1 | €3,772 | €13,348 | +€9,576 | +253.9% |
| Total equity and liabilities | 10/49 | €2,550,115 | €2,571,560 | +€21,445 | +0.8% |
| Equity | 10/15 | €2,327,151 | €2,366,973 | +€39,822 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,308,069 | €2,347,890 | +€39,822 | +1.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €2,306,209 | €2,346,030 | +€39,822 | +1.7% |
| Profit (loss) carried forward | 14 | €482 | €482 | = | 0.0% |
| Amounts payable | 17/49 | €222,965 | €204,588 | -€18,377 | -8.2% |
| Amounts payable within one year | 42/48 | €22,965 | €29,588 | +€6,623 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,925 | €4,223 | -€702 | -14.2% |
| Suppliers | 440/4 | €4,925 | €4,223 | -€702 | -14.2% |
| Taxes, remuneration and social security | 45 | €18,040 | €25,364 | +€7,325 | +40.6% |
| Taxes | 450/3 | €18,038 | €25,364 | +€7,326 | +40.6% |
| Remuneration and social security | 454/9 | €2 | €0 | -€2 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €200,000 | €175,000 | -€25,000 | -12.5% |
| Non-recurring operating income | 76A | €25,000 | €30,000 | +€5,000 | +20.0% |
| Remuneration, social security and pensions | 62 | €2,034 | €2,530 | +€496 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,564 | €29,025 | +€11,461 | +65.3% |
| Other operating charges | 640/8 | €6,747 | €8,598 | +€1,851 | +27.4% |
| Non-recurring operating charges | 66A | €0 | €4,359 | +€4,359 | |
| Gross operating margin | 9900 | €2,271 | €18,805 | +€16,535 | +728.2% |
| Operating profit (loss) | 9901 | -€24,074 | -€25,707 | -€1,632 | -6.8% |
| Financial income | 75/76B | €166,771 | €90,404 | -€76,367 | -45.8% |
| Recurring financial income | 75 | €166,771 | €90,404 | -€76,367 | -45.8% |
| Financial charges | 65/66B | €8,700 | €12,268 | +€3,567 | +41.0% |
| Recurring financial charges | 65 | €6,933 | €12,268 | +€5,334 | +76.9% |
| Non-recurring financial charges | 66B | €1,767 | €0 | -€1,767 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €133,996 | €52,430 | -€81,566 | -60.9% |
| Income taxes | 67/77 | €21,925 | €12,608 | -€9,318 | -42.5% |
| Profit (loss) for the period | 9904 | €112,071 | €39,822 | -€72,249 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,071 | €39,822 | -€72,249 | -64.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.