Vedacom: 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.
Vedacom
Largest movements
- Tangible fixed assets -€157,477
down €157,477 (-9.9%), from €1.6m to €1.4m
of which Land and buildings: -€128,924
- Receivables within one year +€54,900
up €54,900 (+66.1%), from €83,040 to €137,940
of which Other amounts receivable: +€82,160
- Short-term financial debts -€110,174
no longer reported in 2025 (was €110,174)
- Current portion of long-term debt +€105,373
new in 2025: €105,373
- Debts after one year -€100,373
down €100,373 (-10.0%), from €1.0m to €904,746
- Reserves +€34,222
up €34,222 (+6.8%), from €502,038 to €536,260
- Other debts -€24,471
down €24,471 (-43.6%), from €56,083 to €31,612
- Gross operating margin +€40,364
up €40,364 (+21.8%), from €185,349 to €225,713
- Financial income -€26,099
down €26,099 (-99.7%), from €26,179 to €80
- Taxes +€10,107
up €10,107 (+145.3%), from €6,957 to €17,064
- Depreciation -€3,416
down €3,416 (-2.1%), from €163,281 to €159,865
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 | €1,695,262 | €1,602,977 | -€92,285 | -5.4% |
| Fixed assets | 21/28 | €1,590,384 | €1,432,907 | -€157,477 | -9.9% |
| Tangible fixed assets | 22/27 | €1,590,384 | €1,432,907 | -€157,477 | -9.9% |
| Land and buildings | 22 | €1,534,193 | €1,405,268 | -€128,924 | -8.4% |
| Furniture and vehicles | 24 | €56,191 | €27,638 | -€28,552 | -50.8% |
| Current assets | 29/58 | €104,878 | €170,070 | +€65,192 | +62.2% |
| Amounts receivable within one year | 40/41 | €83,040 | €137,940 | +€54,900 | +66.1% |
| Trade receivables | 40 | €74,200 | €46,940 | -€27,260 | -36.7% |
| Other amounts receivable | 41 | €8,840 | €91,000 | +€82,160 | +929.4% |
| Cash at bank and in hand | 54/58 | €18,457 | €28,250 | +€9,793 | +53.1% |
| Deferred charges and accrued income | 490/1 | €3,381 | €3,880 | +€499 | +14.8% |
| Total equity and liabilities | 10/49 | €1,695,262 | €1,602,977 | -€92,285 | -5.4% |
| Equity | 10/15 | €503,038 | €537,260 | +€34,222 | +6.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €502,038 | €536,260 | +€34,222 | +6.8% |
| Distributable reserves | 133 | €502,038 | €536,260 | +€34,222 | +6.8% |
| Amounts payable | 17/49 | €1,192,223 | €1,065,717 | -€126,507 | -10.6% |
| Amounts payable after more than one year | 17 | €1,005,118 | €904,746 | -€100,373 | -10.0% |
| Financial debts | 170/4 | €1,005,118 | €904,746 | -€100,373 | -10.0% |
| Amounts payable within one year | 42/48 | €187,105 | €160,971 | -€26,134 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | - | €105,373 | +€105,373 | |
| Financial debts | 43 | €110,174 | - | -€110,174 | |
| Credit institutions | 430/8 | €110,174 | - | -€110,174 | |
| Trade debts | 44 | €13,734 | €13,640 | -€94 | -0.7% |
| Suppliers | 440/4 | €13,734 | €13,640 | -€94 | -0.7% |
| Taxes, remuneration and social security | 45 | €7,114 | €10,346 | +€3,232 | +45.4% |
| Taxes | 450/3 | €7,114 | €10,346 | +€3,232 | +45.4% |
| Other amounts payable | 47/48 | €56,083 | €31,612 | -€24,471 | -43.6% |
| Non-recurring operating income | 76A | €17,560 | €1,837 | -€15,723 | -89.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,281 | €159,865 | -€3,416 | -2.1% |
| Other operating charges | 640/8 | €3,257 | €2,760 | -€497 | -15.3% |
| Gross operating margin | 9900 | €185,349 | €225,713 | +€40,364 | +21.8% |
| Operating profit (loss) | 9901 | €18,810 | €63,088 | +€44,278 | +235.4% |
| Financial income | 75/76B | €26,179 | €80 | -€26,099 | -99.7% |
| Recurring financial income | 75 | €26,179 | €80 | -€26,099 | -99.7% |
| Financial charges | 65/66B | €12,828 | €11,882 | -€946 | -7.4% |
| Recurring financial charges | 65 | €12,828 | €11,882 | -€946 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €32,161 | €51,286 | +€19,125 | +59.5% |
| Income taxes | 67/77 | €6,957 | €17,064 | +€10,107 | +145.3% |
| Profit (loss) for the period | 9904 | €25,204 | €34,222 | +€9,018 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,204 | €34,222 | +€9,018 | +35.8% |
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 8 October 2026 via checked.be.