VADOS ENGINEERING: 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.
VADOS ENGINEERING
Largest movements
- Tangible fixed assets -€19,672
down €19,672 (-29.3%), from €67,212 to €47,540
- Cash +€16,964
up €16,964 (+10.0%), from €169,513 to €186,477
mainly Depreciation (+€19,672) and Net result for the year (+€6,152)
- Receivables within one year +€6,864
up €6,864 (+97.2%), from €7,061 to €13,925
- Reserves +€6,152
up €6,152 (+5.9%), from €104,822 to €110,974
of which Distributable reserves: +€12,995
- Advances received -€4,429
no longer reported in 2025 (was €4,429)
- Gross operating margin -€16,598
down €16,598 (-37.7%), from €44,039 to €27,441
- Taxes -€4,872
down €4,872 (-57.0%), from €8,549 to €3,677
- Financial income +€1,683
up €1,683 (+138.9%), from €1,211 to €2,894
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 | €249,391 | €253,833 | +€4,441 | +1.8% |
| Fixed assets | 21/28 | €67,212 | €47,580 | -€19,632 | -29.2% |
| Tangible fixed assets | 22/27 | €67,212 | €47,540 | -€19,672 | -29.3% |
| Furniture and vehicles | 24 | €67,212 | €47,540 | -€19,672 | -29.3% |
| Financial fixed assets | 28 | - | €40 | +€40 | |
| Current assets | 29/58 | €182,179 | €206,252 | +€24,073 | +13.2% |
| Amounts receivable within one year | 40/41 | €7,061 | €13,925 | +€6,864 | +97.2% |
| Other amounts receivable | 41 | €7,061 | €13,925 | +€6,864 | +97.2% |
| Current investments | 50/53 | €2,638 | €2,638 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €169,513 | €186,477 | +€16,964 | +10.0% |
| Deferred charges and accrued income | 490/1 | €2,968 | €3,213 | +€245 | +8.2% |
| Total equity and liabilities | 10/49 | €249,391 | €253,833 | +€4,441 | +1.8% |
| Equity | 10/15 | €244,322 | €250,474 | +€6,152 | +2.5% |
| Contributions | 10/11 | €139,500 | €139,500 | = | 0.0% |
| Reserves | 13 | €104,822 | €110,974 | +€6,152 | +5.9% |
| Non-distributable reserves | 130/1 | €6,843 | - | -€6,843 | |
| Reserves not available under the articles | 1311 | €6,843 | - | -€6,843 | |
| Distributable reserves | 133 | €97,979 | €110,974 | +€12,995 | +13.3% |
| Amounts payable | 17/49 | €5,069 | €3,358 | -€1,710 | -33.7% |
| Amounts payable within one year | 42/48 | €5,069 | €2,808 | -€2,260 | -44.6% |
| Trade debts | 44 | €640 | €913 | +€273 | +42.7% |
| Suppliers | 440/4 | €640 | €913 | +€273 | +42.7% |
| Advances received on contracts in progress | 46 | €4,429 | - | -€4,429 | |
| Taxes, remuneration and social security | 45 | - | €1,896 | +€1,896 | |
| Taxes | 450/3 | - | €1,896 | +€1,896 | |
| Accrued charges and deferred income | 492/3 | - | €550 | +€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,672 | €19,672 | = | 0.0% |
| Other operating charges | 640/8 | €595 | €646 | +€51 | +8.6% |
| Gross operating margin | 9900 | €44,039 | €27,441 | -€16,598 | -37.7% |
| Operating profit (loss) | 9901 | €23,773 | €7,124 | -€16,649 | -70.0% |
| Financial income | 75/76B | €1,211 | €2,894 | +€1,683 | +138.9% |
| Recurring financial income | 75 | €1,211 | €2,894 | +€1,683 | +138.9% |
| Financial charges | 65/66B | €467 | €188 | -€278 | -59.6% |
| Recurring financial charges | 65 | €467 | €188 | -€278 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | €24,517 | €9,829 | -€14,688 | -59.9% |
| Income taxes | 67/77 | €8,549 | €3,677 | -€4,872 | -57.0% |
| Profit (loss) for the period | 9904 | €15,968 | €6,152 | -€9,816 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,968 | €6,152 | -€9,816 | -61.5% |
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 6 October 2026 via checked.be.