VADITRANS: 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.
VADITRANS
Largest movements
- Tangible fixed assets +€328,227
up €328,227 (+39.1%), from €838,608 to €1.2m
of which Leasing and similar rights: +€399,144
- Receivables within one year +€152,769
up €152,769 (+31.7%), from €481,658 to €634,428
of which Trade receivables: +€125,167
- Cash +€41,326
up €41,326 (+22.8%), from €181,400 to €222,725
mainly Debts after one year (+€381,792) and Depreciation (+€261,802)
- Debts after one year +€381,792
up €381,792 (+52.9%), from €722,273 to €1.1m
- Profit (loss) carried forward +€257,006
up €257,006 (+83.9%), from -€306,409 to -€49,404
- Trade debts -€79,010
down €79,010 (-26.3%), from €300,706 to €221,696
- Tax, wage and social debts -€29,147
down €29,147 (-21.4%), from €136,252 to €107,104
of which Remuneration and social security: -€26,931
- Staff costs -€304,458
down €304,458 (-21.1%), from €1.4m to €1.1m
- Gross operating margin -€200,569
down €200,569 (-10.7%), from €1.9m to €1.7m
- Depreciation -€123,082
down €123,082 (-32.0%), from €384,884 to €261,802
- Financial income +€27,694
up €27,694 (+551.2%), from €5,024 to €32,718
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 | €1,554,939 | €2,070,623 | +€515,685 | +33.2% |
| Fixed assets | 21/28 | €854,916 | €1,180,315 | +€325,399 | +38.1% |
| Intangible fixed assets | 21 | €11,822 | €9,400 | -€2,423 | -20.5% |
| Tangible fixed assets | 22/27 | €838,608 | €1,166,835 | +€328,227 | +39.1% |
| Land and buildings | 22 | €210,150 | €186,800 | -€23,350 | -11.1% |
| Plant, machinery and equipment | 23 | €12,513 | €21,143 | +€8,630 | +69.0% |
| Furniture and vehicles | 24 | €439,357 | €383,160 | -€56,197 | -12.8% |
| Leasing and similar rights | 25 | €176,588 | €575,732 | +€399,144 | +226.0% |
| Financial fixed assets | 28 | €4,486 | €4,081 | -€405 | -9.0% |
| Current assets | 29/58 | €700,022 | €890,308 | +€190,286 | +27.2% |
| Amounts receivable within one year | 40/41 | €481,658 | €634,428 | +€152,769 | +31.7% |
| Trade receivables | 40 | €435,593 | €560,760 | +€125,167 | +28.7% |
| Other amounts receivable | 41 | €46,066 | €73,668 | +€27,602 | +59.9% |
| Cash at bank and in hand | 54/58 | €181,400 | €222,725 | +€41,326 | +22.8% |
| Deferred charges and accrued income | 490/1 | €36,964 | €33,155 | -€3,809 | -10.3% |
| Total equity and liabilities | 10/49 | €1,554,939 | €2,070,623 | +€515,685 | +33.2% |
| Equity | 10/15 | €123,260 | €380,266 | +€257,006 | +208.5% |
| Contributions | 10/11 | €427,092 | €427,092 | = | 0.0% |
| Reserves | 13 | €2,577 | €2,577 | = | 0.0% |
| Distributable reserves | 133 | €2,577 | €2,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€306,409 | -€49,404 | +€257,006 | +83.9% |
| Amounts payable | 17/49 | €1,431,679 | €1,690,358 | +€258,679 | +18.1% |
| Amounts payable after more than one year | 17 | €722,273 | €1,104,065 | +€381,792 | +52.9% |
| Financial debts | 170/4 | €722,273 | €1,104,065 | +€381,792 | +52.9% |
| Amounts payable within one year | 42/48 | €682,217 | €566,630 | -€115,587 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €190,399 | €182,618 | -€7,781 | -4.1% |
| Trade debts | 44 | €300,706 | €221,696 | -€79,010 | -26.3% |
| Suppliers | 440/4 | €300,706 | €221,696 | -€79,010 | -26.3% |
| Taxes, remuneration and social security | 45 | €136,252 | €107,104 | -€29,147 | -21.4% |
| Taxes | 450/3 | €6,251 | €4,035 | -€2,216 | -35.5% |
| Remuneration and social security | 454/9 | €130,000 | €103,069 | -€26,931 | -20.7% |
| Other amounts payable | 47/48 | €54,861 | €55,213 | +€351 | +0.6% |
| Accrued charges and deferred income | 492/3 | €27,188 | €19,662 | -€7,526 | -27.7% |
| Remuneration, social security and pensions | 62 | €1,441,647 | €1,137,189 | -€304,458 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384,884 | €261,802 | -€123,082 | -32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,700 | +€2,700 | |
| Other operating charges | 640/8 | €15,779 | €16,029 | +€250 | +1.6% |
| Gross operating margin | 9900 | €1,869,590 | €1,669,021 | -€200,569 | -10.7% |
| Operating profit (loss) | 9901 | €27,281 | €251,302 | +€224,021 | +821.2% |
| Financial income | 75/76B | €5,024 | €32,718 | +€27,694 | +551.2% |
| Recurring financial income | 75 | €5,024 | €32,718 | +€27,694 | +551.2% |
| Financial charges | 65/66B | €16,570 | €26,791 | +€10,221 | +61.7% |
| Recurring financial charges | 65 | €16,570 | €26,791 | +€10,221 | +61.7% |
| Profit (loss) for the period before taxes | 9903 | €15,735 | €257,229 | +€241,494 | +1534.7% |
| Income taxes | 67/77 | €227 | €224 | -€3 | -1.4% |
| Profit (loss) for the period | 9904 | €15,508 | €257,006 | +€241,497 | +1557.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,508 | €257,006 | +€241,497 | +1557.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.