VAJDEN: 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.
VAJDEN
Largest movements
- Receivables within one year +€20,373
up €20,373 (+107.6%), from €18,940 to €39,314
of which Trade receivables: +€20,373
- Deferred charges and accrued income +€20,000
up €20,000, from €0 to €20,000
- Cash -€3,591
down €3,591 (-1.6%), from €224,526 to €220,935
mainly Other debts (-€31,795) and Receivables within one year (-€20,373)
- Profit (loss) carried forward +€56,348
up €56,348 (+32.5%), from €173,635 to €229,983
- Other debts -€31,795
down €31,795 (-73.9%), from €43,010 to €11,215
- Tax, wage and social debts +€11,058
up €11,058 (+51.9%), from €21,299 to €32,357
of which Taxes: +€15,058
- Gross operating margin +€12,963
up €12,963 (+20.4%), from €63,411 to €76,374
- Taxes +€4,423
up €4,423 (+32.4%), from €13,632 to €18,055
- Depreciation -€1,231
down €1,231 (-49.8%), from €2,472 to €1,241
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 | €245,209 | €280,750 | +€35,541 | +14.5% |
| Fixed assets | 21/28 | €1,742 | €501 | -€1,241 | -71.2% |
| Tangible fixed assets | 22/27 | €1,742 | €501 | -€1,241 | -71.2% |
| Plant, machinery and equipment | 23 | €1,742 | €501 | -€1,241 | -71.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €243,467 | €280,249 | +€36,782 | +15.1% |
| Amounts receivable within one year | 40/41 | €18,940 | €39,314 | +€20,373 | +107.6% |
| Trade receivables | 40 | €12,573 | €32,946 | +€20,373 | +162.0% |
| Other amounts receivable | 41 | €6,368 | €6,368 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €224,526 | €220,935 | -€3,591 | -1.6% |
| Deferred charges and accrued income | 490/1 | €0 | €20,000 | +€20,000 | |
| Total equity and liabilities | 10/49 | €245,209 | €280,750 | +€35,541 | +14.5% |
| Equity | 10/15 | €178,635 | €234,983 | +€56,348 | +31.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,635 | €229,983 | +€56,348 | +32.5% |
| Amounts payable | 17/49 | €66,574 | €45,767 | -€20,807 | -31.3% |
| Amounts payable within one year | 42/48 | €66,574 | €45,767 | -€20,807 | -31.3% |
| Trade debts | 44 | €2,265 | €2,195 | -€71 | -3.1% |
| Suppliers | 440/4 | €2,265 | €2,195 | -€71 | -3.1% |
| Taxes, remuneration and social security | 45 | €21,299 | €32,357 | +€11,058 | +51.9% |
| Taxes | 450/3 | €17,299 | €32,357 | +€15,058 | +87.0% |
| Remuneration and social security | 454/9 | €4,000 | €0 | -€4,000 | -100.0% |
| Other amounts payable | 47/48 | €43,010 | €11,215 | -€31,795 | -73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,472 | €1,241 | -€1,231 | -49.8% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €63,411 | €76,374 | +€12,963 | +20.4% |
| Operating profit (loss) | 9901 | €60,426 | €74,605 | +€14,180 | +23.5% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €902 | €212 | -€690 | -76.4% |
| Recurring financial charges | 65 | €902 | €212 | -€690 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €59,524 | €74,403 | +€14,880 | +25.0% |
| Income taxes | 67/77 | €13,632 | €18,055 | +€4,423 | +32.4% |
| Profit (loss) for the period | 9904 | €45,891 | €56,348 | +€10,457 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,891 | €56,348 | +€10,457 | +22.8% |
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 4 October 2026 via checked.be.