Vadycon: 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.
Vadycon
Largest movements
- Cash +€161,128
up €161,128 (+330.7%), from €48,729 to €209,857
mainly Net result for the year (+€123,943) and Receivables within one year (+€17,537)
- Receivables within one year -€17,537
down €17,537 (-45.3%), from €38,686 to €21,149
- Tangible fixed assets -€14,151
down €14,151 (-20.3%), from €69,858 to €55,707
of which Furniture and vehicles: -€13,743
- Reserves +€123,110
up €123,110 (+129.5%), from €95,036 to €218,146
- Other debts +€9,772
up €9,772 (+56.3%), from €17,355 to €27,127
- Gross operating margin +€51,918
up €51,918 (+41.9%), from €123,765 to €175,683
- Depreciation +€13,254
up €13,254 (+1478.6%), from €896 to €14,151
- Taxes +€9,462
up €9,462 (+35.8%), from €26,411 to €35,873
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 | €157,273 | €286,713 | +€129,441 | +82.3% |
| Fixed assets | 21/28 | €69,858 | €55,707 | -€14,151 | -20.3% |
| Tangible fixed assets | 22/27 | €69,858 | €55,707 | -€14,151 | -20.3% |
| Plant, machinery and equipment | 23 | €2,010 | €1,602 | -€408 | -20.3% |
| Furniture and vehicles | 24 | €67,848 | €54,105 | -€13,743 | -20.3% |
| Current assets | 29/58 | €87,415 | €231,006 | +€143,591 | +164.3% |
| Amounts receivable within one year | 40/41 | €38,686 | €21,149 | -€17,537 | -45.3% |
| Trade receivables | 40 | €38,686 | €21,149 | -€17,537 | -45.3% |
| Cash at bank and in hand | 54/58 | €48,729 | €209,857 | +€161,128 | +330.7% |
| Total equity and liabilities | 10/49 | €157,273 | €286,713 | +€129,441 | +82.3% |
| Equity | 10/15 | €98,036 | €221,146 | +€123,110 | +125.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €95,036 | €218,146 | +€123,110 | +129.5% |
| Distributable reserves | 133 | €95,036 | €218,146 | +€123,110 | +129.5% |
| Amounts payable | 17/49 | €59,237 | €65,568 | +€6,331 | +10.7% |
| Amounts payable within one year | 42/48 | €59,237 | €65,568 | +€6,331 | +10.7% |
| Trade debts | 44 | €1,243 | €85 | -€1,159 | -93.2% |
| Suppliers | 440/4 | €1,243 | €85 | -€1,159 | -93.2% |
| Taxes, remuneration and social security | 45 | €40,639 | €38,356 | -€2,283 | -5.6% |
| Taxes | 450/3 | €40,639 | €38,356 | -€2,283 | -5.6% |
| Other amounts payable | 47/48 | €17,355 | €27,127 | +€9,772 | +56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €14,151 | +€13,254 | +1478.6% |
| Other operating charges | 640/8 | €53 | €184 | +€131 | +247.2% |
| Gross operating margin | 9900 | €123,765 | €175,683 | +€51,918 | +41.9% |
| Operating profit (loss) | 9901 | €122,816 | €161,349 | +€38,533 | +31.4% |
| Financial charges | 65/66B | €510 | €1,532 | +€1,022 | +200.5% |
| Recurring financial charges | 65 | €510 | €1,532 | +€1,022 | +200.5% |
| Non-recurring financial charges | 66B | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €122,306 | €159,816 | +€37,511 | +30.7% |
| Income taxes | 67/77 | €26,411 | €35,873 | +€9,462 | +35.8% |
| Profit (loss) for the period | 9904 | €95,895 | €123,943 | +€28,048 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,895 | €123,943 | +€28,048 | +29.2% |
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 12 October 2026 via checked.be.