VEDHAR: 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.
VEDHAR
Largest movements
- Stocks and contracts -€1,243
down €1,243 (-2.3%), from €53,511 to €52,267
- Tangible fixed assets -€1,142
down €1,142 (-96.3%), from €1,185 to €43
- Deferred charges and accrued income +€758
up €758 (+158.3%), from €479 to €1,237
- Tax, wage and social debts +€24,140
up €24,140 (+58.2%), from €41,501 to €65,641
of which Remuneration and social security: +€15,381
- Other debts -€23,575
down €23,575 (-32.7%), from €72,140 to €48,565
- Trade debts -€15,799
down €15,799 (-79.2%), from €19,957 to €4,157
- Profit (loss) carried forward +€14,028
up €14,028 (+14.6%), from -€96,213 to -€82,185
- Staff costs -€49,541
down €49,541 (-33.8%), from €146,719 to €97,178
- Gross operating margin -€31,542
down €31,542 (-20.8%), from €151,516 to €119,974
- Taxes +€4,261
up €4,261 (+1025.7%), from €415 to €4,676
- Financial charges +€1,935
up €1,935 (+190.6%), from €1,015 to €2,950
- Other operating charges -€1,535
no longer reported in 2025 (was €1,535)
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 | €57,384 | €56,178 | -€1,206 | -2.1% |
| Fixed assets | 21/28 | €1,185 | €43 | -€1,142 | -96.3% |
| Tangible fixed assets | 22/27 | €1,185 | €43 | -€1,142 | -96.3% |
| Furniture and vehicles | 24 | €1,185 | €43 | -€1,142 | -96.3% |
| Current assets | 29/58 | €56,199 | €56,135 | -€64 | -0.1% |
| Stocks and contracts in progress | 3 | €53,511 | €52,267 | -€1,243 | -2.3% |
| Stocks | 30/36 | €53,511 | €52,267 | -€1,243 | -2.3% |
| Cash at bank and in hand | 54/58 | €2,210 | €2,631 | +€421 | +19.1% |
| Deferred charges and accrued income | 490/1 | €479 | €1,237 | +€758 | +158.3% |
| Total equity and liabilities | 10/49 | €57,384 | €56,178 | -€1,206 | -2.1% |
| Equity | 10/15 | -€76,213 | -€62,185 | +€14,028 | +18.4% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,213 | -€82,185 | +€14,028 | +14.6% |
| Amounts payable | 17/49 | €133,597 | €118,364 | -€15,234 | -11.4% |
| Amounts payable within one year | 42/48 | €133,597 | €118,364 | -€15,234 | -11.4% |
| Trade debts | 44 | €19,957 | €4,157 | -€15,799 | -79.2% |
| Suppliers | 440/4 | €19,957 | €4,157 | -€15,799 | -79.2% |
| Taxes, remuneration and social security | 45 | €41,501 | €65,641 | +€24,140 | +58.2% |
| Taxes | 450/3 | €4,074 | €12,833 | +€8,759 | +215.0% |
| Remuneration and social security | 454/9 | €37,427 | €52,808 | +€15,381 | +41.1% |
| Other amounts payable | 47/48 | €72,140 | €48,565 | -€23,575 | -32.7% |
| Remuneration, social security and pensions | 62 | €146,719 | €97,178 | -€49,541 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,185 | €1,142 | -€43 | -3.6% |
| Other operating charges | 640/8 | €1,535 | - | -€1,535 | |
| Gross operating margin | 9900 | €151,516 | €119,974 | -€31,542 | -20.8% |
| Operating profit (loss) | 9901 | €2,076 | €21,654 | +€19,577 | +942.9% |
| Financial income | 75/76B | €1,015 | - | -€1,015 | |
| Recurring financial income | 75 | €1,015 | - | -€1,015 | |
| Financial charges | 65/66B | €1,015 | €2,950 | +€1,935 | +190.6% |
| Recurring financial charges | 65 | €1,015 | €2,950 | +€1,935 | +190.6% |
| Profit (loss) for the period before taxes | 9903 | €2,076 | €18,704 | +€16,627 | +800.8% |
| Income taxes | 67/77 | €415 | €4,676 | +€4,261 | +1025.7% |
| Profit (loss) for the period | 9904 | €1,661 | €14,028 | +€12,367 | +744.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,661 | €14,028 | +€12,367 | +744.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.