VDE Wafels: 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.
VDE Wafels
Largest movements
- Receivables within one year +€11,171
up €11,171 (+583%), from €1,915 to €13,085
of which Trade receivables: +€9,676
- Cash -€7,066
down €7,066 (-10.7%), from €66,348 to €59,282
mainly Receivables within one year (-€11,171) and Investment in fixed assets (net) (-€10,000)
- Tangible fixed assets +€6,858
up €6,858 (+461%), from €1,489 to €8,347
of which Furniture and vehicles: +€7,580
- Reserves +€12,638
up €12,638 (+21.5%), from €58,870 to €71,507
of which Distributable reserves: +€12,638
- Tax, wage and social debts -€3,120
down €3,120 (-77.7%), from €4,017 to €898
- Other debts +€2,617
up €2,617 (+57.4%), from €4,557 to €7,175
- Trade debts -€1,582
down €1,582 (-66.7%), from €2,371 to €789
- Gross operating margin +€7,925
up €7,925 (+53.2%), from €14,892 to €22,817
- Taxes +€2,488
up €2,488 (+73.0%), from €3,409 to €5,898
- Depreciation +€1,928
up €1,928 (+159%), from €1,214 to €3,142
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 | €70,815 | €81,373 | +€10,558 | +14.9% |
| Fixed assets | 21/28 | €1,489 | €8,347 | +€6,858 | +461% |
| Tangible fixed assets | 22/27 | €1,489 | €8,347 | +€6,858 | +461% |
| Plant, machinery and equipment | 23 | €1,489 | €767 | -€721 | -48.5% |
| Furniture and vehicles | 24 | €0 | €7,580 | +€7,580 | |
| Current assets | 29/58 | €69,326 | €73,026 | +€3,700 | +5.3% |
| Stocks and contracts in progress | 3 | €661 | €112 | -€550 | -83.1% |
| Stocks | 30/36 | €661 | €112 | -€550 | -83.1% |
| Amounts receivable within one year | 40/41 | €1,915 | €13,085 | +€11,171 | +583% |
| Trade receivables | 40 | €324 | €10,000 | +€9,676 | +2,986% |
| Other amounts receivable | 41 | €1,591 | €3,085 | +€1,495 | +94.0% |
| Cash at bank and in hand | 54/58 | €66,348 | €59,282 | -€7,066 | -10.7% |
| Deferred charges and accrued income | 490/1 | €402 | €547 | +€145 | +36.0% |
| Total equity and liabilities | 10/49 | €70,815 | €81,373 | +€10,558 | +14.9% |
| Equity | 10/15 | €59,870 | €72,507 | +€12,638 | +21.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €58,870 | €71,507 | +€12,638 | +21.5% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €58,770 | €71,407 | +€12,638 | +21.5% |
| Amounts payable | 17/49 | €10,945 | €8,866 | -€2,080 | -19.0% |
| Amounts payable within one year | 42/48 | €10,945 | €8,866 | -€2,080 | -19.0% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €2,371 | €789 | -€1,582 | -66.7% |
| Suppliers | 440/4 | €2,371 | €789 | -€1,582 | -66.7% |
| Taxes, remuneration and social security | 45 | €4,017 | €898 | -€3,120 | -77.7% |
| Taxes | 450/3 | €4,017 | €898 | -€3,120 | -77.7% |
| Other amounts payable | 47/48 | €4,557 | €7,175 | +€2,617 | +57.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,214 | €3,142 | +€1,928 | +159% |
| Other operating charges | 640/8 | €794 | €838 | +€44 | +5.6% |
| Gross operating margin | 9900 | €14,892 | €22,817 | +€7,925 | +53.2% |
| Operating profit (loss) | 9901 | €12,884 | €18,838 | +€5,954 | +46.2% |
| Financial income | 75/76B | €0 | €43 | +€43 | |
| Recurring financial income | 75 | €0 | €43 | +€43 | |
| Financial charges | 65/66B | €310 | €345 | +€35 | +11.3% |
| Recurring financial charges | 65 | €310 | €345 | +€35 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €12,574 | €18,535 | +€5,961 | +47.4% |
| Income taxes | 67/77 | €3,409 | €5,898 | +€2,488 | +73.0% |
| Profit (loss) for the period | 9904 | €9,165 | €12,638 | +€3,473 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,165 | €12,638 | +€3,473 | +37.9% |
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 13 October 2026 via checked.be.