Vado: 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.
Vado
Largest movements
- Stocks and contracts +€157,059
up €157,059 (+152.6%), from €102,941 to €260,000
- Receivables within one year +€15,903
up €15,903 (+70.1%), from €22,698 to €38,601
of which Trade receivables: +€15,878
- Cash +€4,256
up €4,256 (+18.3%), from €23,200 to €27,456
mainly Trade debts (+€124,779) and Net result for the year (+€52,973)
- Trade debts +€124,779
up €124,779 (+166.3%), from €75,029 to €199,808
- Reserves +€52,973
up €52,973 (+195.8%), from €27,049 to €80,022
- Gross operating margin +€29,687
up €29,687 (+79.3%), from €37,422 to €67,109
- Taxes +€6,481
up €6,481 (+95.8%), from €6,762 to €13,243
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 | €148,840 | €326,057 | +€177,217 | +119.1% |
| Current assets | 29/58 | €148,840 | €326,057 | +€177,217 | +119.1% |
| Stocks and contracts in progress | 3 | €102,941 | €260,000 | +€157,059 | +152.6% |
| Stocks | 30/36 | €102,941 | €260,000 | +€157,059 | +152.6% |
| Amounts receivable within one year | 40/41 | €22,698 | €38,601 | +€15,903 | +70.1% |
| Trade receivables | 40 | €22,685 | €38,563 | +€15,878 | +70.0% |
| Other amounts receivable | 41 | €13 | €38 | +€25 | +185.8% |
| Cash at bank and in hand | 54/58 | €23,200 | €27,456 | +€4,256 | +18.3% |
| Total equity and liabilities | 10/49 | €148,840 | €326,057 | +€177,217 | +119.1% |
| Equity | 10/15 | €47,449 | €100,422 | +€52,973 | +111.6% |
| Contributions | 10/11 | €20,400 | €20,400 | = | 0.0% |
| Reserves | 13 | €27,049 | €80,022 | +€52,973 | +195.8% |
| Distributable reserves | 133 | €27,049 | €80,022 | +€52,973 | +195.8% |
| Amounts payable | 17/49 | €101,391 | €225,635 | +€124,244 | +122.5% |
| Amounts payable within one year | 42/48 | €101,391 | €225,635 | +€124,244 | +122.5% |
| Trade debts | 44 | €75,029 | €199,808 | +€124,779 | +166.3% |
| Suppliers | 440/4 | €75,029 | €199,808 | +€124,779 | +166.3% |
| Taxes, remuneration and social security | 45 | €23,208 | €22,198 | -€1,010 | -4.4% |
| Taxes | 450/3 | €23,208 | €22,198 | -€1,010 | -4.4% |
| Other amounts payable | 47/48 | €3,155 | €3,629 | +€474 | +15.0% |
| Other operating charges | 640/8 | €1,094 | €694 | -€400 | -36.6% |
| Gross operating margin | 9900 | €37,422 | €67,109 | +€29,687 | +79.3% |
| Operating profit (loss) | 9901 | €36,328 | €66,415 | +€30,087 | +82.8% |
| Financial charges | 65/66B | €107 | €198 | +€91 | +85.2% |
| Recurring financial charges | 65 | €107 | €198 | +€91 | +85.2% |
| Profit (loss) for the period before taxes | 9903 | €36,221 | €66,216 | +€29,996 | +82.8% |
| Income taxes | 67/77 | €6,762 | €13,243 | +€6,481 | +95.8% |
| Profit (loss) for the period | 9904 | €29,459 | €52,973 | +€23,514 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,459 | €52,973 | +€23,514 | +79.8% |
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 30 September 2026 via checked.be.