VEDAJO: 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.
VEDAJO
Largest movements
- Receivables within one year +€1.5m
new in 2025: €1.5m
- Tangible fixed assets -€740,451
down €740,451 (-100%), from €740,451 to €0
- Cash -€39,128
down €39,128 (-99.6%), from €39,266 to €138
mainly Receivables within one year (-€1.5m)
- Reserves +€542,573
up €542,573 (+186%), from €292,058 to €834,631
of which Tax-exempt reserves: +€412,886
- Provisions +€110,156
up €110,156 (+197%), from €55,800 to €165,956
- Tax, wage and social debts +€67,299
new in 2025: €67,299
- Profit (loss) carried forward +€22,691
up €22,691, from -€22,691 to €0
- Gross operating margin +€738,632
up €738,632 (+3,473%), from €21,265 to €759,896
- Taxes +€102,301
new in 2025: €102,301
- Financial income +€24,920
up €24,920 (+51,138%), from €49 to €24,968
- Depreciation -€21,789
down €21,789 (-100%), from €21,789 to €0
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 | €779,744 | €1,535,263 | +€755,519 | +96.9% |
| Fixed assets | 21/28 | €740,451 | €0 | -€740,451 | -100% |
| Tangible fixed assets | 22/27 | €740,451 | €0 | -€740,451 | -100% |
| Land and buildings | 22 | €740,451 | €0 | -€740,451 | -100% |
| Current assets | 29/58 | €39,293 | €1,535,263 | +€1.5m | +3,807% |
| Amounts receivable within one year | 40/41 | - | €1,535,125 | +€1.5m | |
| Other amounts receivable | 41 | - | €1,535,125 | +€1.5m | |
| Cash at bank and in hand | 54/58 | €39,266 | €138 | -€39,128 | -99.6% |
| Deferred charges and accrued income | 490/1 | €27 | €0 | -€27 | -100% |
| Total equity and liabilities | 10/49 | €779,744 | €1,535,263 | +€755,519 | +96.9% |
| Equity | 10/15 | €306,851 | €872,116 | +€565,265 | +184% |
| Contributions | 10/11 | €37,485 | €37,485 | = | 0.0% |
| Reserves | 13 | €292,058 | €834,631 | +€542,573 | +186% |
| Tax-exempt reserves | 132 | €121,694 | €534,580 | +€412,886 | +339% |
| Distributable reserves | 133 | €170,364 | €300,051 | +€129,687 | +76.1% |
| Profit (loss) carried forward | 14 | -€22,691 | €0 | +€22,691 | |
| Provisions and deferred taxes | 16 | €55,800 | €165,956 | +€110,156 | +197% |
| Deferred taxes | 168 | €55,800 | €165,956 | +€110,156 | +197% |
| Amounts payable | 17/49 | €417,093 | €497,191 | +€80,098 | +19.2% |
| Amounts payable within one year | 42/48 | €415,443 | €497,191 | +€81,748 | +19.7% |
| Trade debts | 44 | €34 | €3,049 | +€3,015 | +8,947% |
| Suppliers | 440/4 | €34 | €3,049 | +€3,015 | +8,947% |
| Taxes, remuneration and social security | 45 | - | €67,299 | +€67,299 | |
| Taxes | 450/3 | - | €67,299 | +€67,299 | |
| Other amounts payable | 47/48 | €415,409 | €426,844 | +€11,435 | +2.8% |
| Accrued charges and deferred income | 492/3 | €1,650 | €0 | -€1,650 | -100% |
| Non-recurring operating income | 76A | - | €769,549 | +€769,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,789 | €0 | -€21,789 | -100% |
| Other operating charges | 640/8 | €4,542 | €120 | -€4,422 | -97.4% |
| Gross operating margin | 9900 | €21,265 | €759,896 | +€738,632 | +3,473% |
| Operating profit (loss) | 9901 | -€5,065 | €759,776 | +€764,842 | |
| Financial income | 75/76B | €49 | €24,968 | +€24,920 | +51,138% |
| Recurring financial income | 75 | €49 | €24,968 | +€24,920 | +51,138% |
| Financial charges | 65/66B | €117 | €7,024 | +€6,907 | +5,903% |
| Recurring financial charges | 65 | €117 | €7,024 | +€6,907 | +5,903% |
| Profit (loss) for the period before taxes | 9903 | -€5,134 | €777,721 | +€782,855 | |
| Transfer from deferred taxes | 780 | €2,041 | €55,800 | +€53,759 | +2,633% |
| Transfer to deferred taxes | 680 | - | €165,956 | +€165,956 | |
| Income taxes | 67/77 | - | €102,301 | +€102,301 | |
| Profit (loss) for the period | 9904 | -€3,092 | €565,265 | +€568,357 | |
| Transfer from tax-exempt reserves | 789 | €4,452 | €121,694 | +€117,242 | +2,633% |
| Transfer to tax-exempt reserves | 689 | - | €534,580 | +€534,580 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,360 | €152,379 | +€151,018 | +11,104% |
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 30 October 2026 via checked.be.