VAHODHA: 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.
VAHODHA
Largest movements
- Receivables within one year -€18,532
down €18,532 (-20.3%), from €91,246 to €72,713
of which Other amounts receivable: -€22,337
- Stocks and contracts +€16,980
up €16,980 (+31.1%), from €54,520 to €71,500
of which Contracts in progress: +€11,500
- Tangible fixed assets -€12,725
down €12,725 (-35.9%), from €35,455 to €22,730
of which Plant, machinery and equipment: -€8,248
- Cash +€8,315
up €8,315 (+14.6%), from €57,024 to €65,339
mainly Net result for the year (+€20,027) and Receivables within one year (+€18,532)
- Receivables after one year +€7,289
up €7,289 (+3.5%), from €210,685 to €217,974
- Reserves +€20,027
up €20,027 (+6.4%), from €315,339 to €335,366
of which Distributable reserves: +€20,027
- Trade debts -€6,459
down €6,459 (-6.6%), from €97,270 to €90,811
- Accrued charges and deferred income -€5,800
down €5,800 (-100%), from €5,800 to €0
- Gross operating margin +€174,432
up €174,432 (+168%), from €103,885 to €278,317
- Staff costs +€24,592
up €24,592 (+10.8%), from €227,476 to €252,068
- Taxes -€3,512
down €3,512 (-100%), from €3,512 to €0
- Financial income -€3,494
down €3,494 (-26.4%), from €13,252 to €9,758
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.
Derived cash bridge
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 | €463,279 | €470,957 | +€7,678 | +1.7% |
| Fixed assets | 21/28 | €37,630 | €24,905 | -€12,725 | -33.8% |
| Tangible fixed assets | 22/27 | €35,455 | €22,730 | -€12,725 | -35.9% |
| Plant, machinery and equipment | 23 | €30,198 | €21,950 | -€8,248 | -27.3% |
| Furniture and vehicles | 24 | €1,743 | €780 | -€963 | -55.3% |
| Leasing and similar rights | 25 | €3,134 | €0 | -€3,134 | -100% |
| Other tangible fixed assets | 26 | €380 | €0 | -€379 | -100.0% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €425,650 | €446,053 | +€20,403 | +4.8% |
| Amounts receivable after more than one year | 29 | €210,685 | €217,974 | +€7,289 | +3.5% |
| Other amounts receivable | 291 | €210,685 | €217,974 | +€7,289 | +3.5% |
| Stocks and contracts in progress | 3 | €54,520 | €71,500 | +€16,980 | +31.1% |
| Stocks | 30/36 | €5,020 | €10,500 | +€5,480 | +109% |
| Contracts in progress | 37 | €49,500 | €61,000 | +€11,500 | +23.2% |
| Amounts receivable within one year | 40/41 | €91,246 | €72,713 | -€18,532 | -20.3% |
| Trade receivables | 40 | €60,820 | €64,625 | +€3,804 | +6.3% |
| Other amounts receivable | 41 | €30,425 | €8,089 | -€22,337 | -73.4% |
| Cash at bank and in hand | 54/58 | €57,024 | €65,339 | +€8,315 | +14.6% |
| Deferred charges and accrued income | 490/1 | €12,175 | €18,527 | +€6,352 | +52.2% |
| Total equity and liabilities | 10/49 | €463,279 | €470,957 | +€7,678 | +1.7% |
| Equity | 10/15 | €333,939 | €353,966 | +€20,027 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €315,339 | €335,366 | +€20,027 | +6.4% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €285,339 | €305,366 | +€20,027 | +7.0% |
| Amounts payable | 17/49 | €129,341 | €116,991 | -€12,349 | -9.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €123,541 | €116,991 | -€6,549 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €2,325 | €0 | -€2,325 | -100% |
| Trade debts | 44 | €97,270 | €90,811 | -€6,459 | -6.6% |
| Suppliers | 440/4 | €97,270 | €90,811 | -€6,459 | -6.6% |
| Taxes, remuneration and social security | 45 | €22,007 | €25,478 | +€3,471 | +15.8% |
| Taxes | 450/3 | €829 | €167 | -€662 | -79.9% |
| Remuneration and social security | 454/9 | €21,178 | €25,311 | +€4,133 | +19.5% |
| Other amounts payable | 47/48 | €1,938 | €702 | -€1,237 | -63.8% |
| Accrued charges and deferred income | 492/3 | €5,800 | €0 | -€5,800 | -100% |
| Non-recurring operating income | 76A | - | €13,500 | +€13,500 | |
| Remuneration, social security and pensions | 62 | €227,476 | €252,068 | +€24,592 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,932 | €12,725 | -€207 | -1.6% |
| Other operating charges | 640/8 | €2,099 | €1,992 | -€107 | -5.1% |
| Gross operating margin | 9900 | €103,885 | €278,317 | +€174,432 | +168% |
| Operating profit (loss) | 9901 | -€138,622 | €11,531 | +€150,154 | |
| Financial income | 75/76B | €13,252 | €9,758 | -€3,494 | -26.4% |
| Recurring financial income | 75 | €13,252 | €9,758 | -€3,494 | -26.4% |
| Financial charges | 65/66B | €563 | €1,262 | +€699 | +124% |
| Recurring financial charges | 65 | €563 | €1,262 | +€699 | +124% |
| Profit (loss) for the period before taxes | 9903 | -€125,934 | €20,027 | +€145,961 | |
| Income taxes | 67/77 | €3,512 | €0 | -€3,512 | -100% |
| Profit (loss) for the period | 9904 | -€129,446 | €20,027 | +€149,473 | |
| Profit (loss) for the period to be appropriated | 9905 | -€129,446 | €20,027 | +€149,473 |
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 22 October 2026 via checked.be.