VADINI: 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.
VADINI
Largest movements
- Receivables within one year -€5,024
down €5,024 (-28.0%), from €17,947 to €12,923
- Tangible fixed assets -€1,600
down €1,600 (-40.0%), from €3,998 to €2,398
- Tax, wage and social debts -€13,823
down €13,823 (-54.4%), from €25,405 to €11,581
of which Taxes: -€12,434
- Trade debts +€7,137
up €7,137 (+127.2%), from €5,611 to €12,748
- Reserves -€5,893
down €5,893 (-48.1%), from €12,261 to €6,368
- Other debts +€3,857
up €3,857 (+7.6%), from €50,988 to €54,845
- Gross operating margin +€7,815
up €7,815 (+11.1%), from €70,214 to €78,030
- Taxes +€4,321
up €4,321 (+27.8%), from €15,557 to €19,878
- Other operating charges -€1,523
down €1,523 (-69.9%), from €2,179 to €656
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.
Cash bridge derived
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 | €111,578 | €102,856 | -€8,722 | -7.8% |
| Fixed assets | 21/28 | €3,998 | €2,398 | -€1,600 | -40.0% |
| Tangible fixed assets | 22/27 | €3,998 | €2,398 | -€1,600 | -40.0% |
| Furniture and vehicles | 24 | €3,998 | €2,398 | -€1,600 | -40.0% |
| Current assets | 29/58 | €107,580 | €100,458 | -€7,122 | -6.6% |
| Amounts receivable within one year | 40/41 | €17,947 | €12,923 | -€5,024 | -28.0% |
| Trade receivables | 40 | €17,947 | €12,923 | -€5,024 | -28.0% |
| Cash at bank and in hand | 54/58 | €88,597 | €87,535 | -€1,062 | -1.2% |
| Deferred charges and accrued income | 490/1 | €1,036 | €0 | -€1,036 | -100.0% |
| Total equity and liabilities | 10/49 | €111,578 | €102,856 | -€8,722 | -7.8% |
| Equity | 10/15 | €29,574 | €23,681 | -€5,893 | -19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,261 | €6,368 | -€5,893 | -48.1% |
| Distributable reserves | 133 | €12,261 | €6,368 | -€5,893 | -48.1% |
| Profit (loss) carried forward | 14 | -€1,287 | -€1,287 | = | 0.0% |
| Amounts payable | 17/49 | €82,004 | €79,175 | -€2,829 | -3.5% |
| Amounts payable within one year | 42/48 | €82,004 | €79,175 | -€2,829 | -3.5% |
| Trade debts | 44 | €5,611 | €12,748 | +€7,137 | +127.2% |
| Suppliers | 440/4 | €5,611 | €12,748 | +€7,137 | +127.2% |
| Taxes, remuneration and social security | 45 | €25,405 | €11,581 | -€13,823 | -54.4% |
| Taxes | 450/3 | €22,016 | €9,581 | -€12,434 | -56.5% |
| Remuneration and social security | 454/9 | €3,389 | €2,000 | -€1,389 | -41.0% |
| Other amounts payable | 47/48 | €50,988 | €54,845 | +€3,857 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,600 | €1,600 | = | 0.0% |
| Other operating charges | 640/8 | €2,179 | €656 | -€1,523 | -69.9% |
| Gross operating margin | 9900 | €70,214 | €78,030 | +€7,815 | +11.1% |
| Operating profit (loss) | 9901 | €66,435 | €75,773 | +€9,338 | +14.1% |
| Financial charges | 65/66B | €1,220 | €1,095 | -€125 | -10.2% |
| Recurring financial charges | 65 | €1,220 | €1,095 | -€125 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €65,215 | €74,678 | +€9,463 | +14.5% |
| Income taxes | 67/77 | €15,557 | €19,878 | +€4,321 | +27.8% |
| Profit (loss) for the period | 9904 | €49,659 | €54,800 | +€5,142 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,659 | €54,800 | +€5,142 | +10.4% |
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 10 October 2026 via checked.be.