VEDIMAN: 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.
VEDIMAN
Largest movements
- Tangible fixed assets +€438,791
up €438,791 (+74.1%), from €592,077 to €1.0m
of which Land and buildings: +€450,118
- Receivables within one year +€98,087
up €98,087 (+52.3%), from €187,602 to €285,689
of which Trade receivables: +€99,275
- Cash +€40,507
up €40,507 (+155.3%), from €26,084 to €66,591
mainly Debts after one year (+€422,593) and Other debts (+€299,305)
- Debts after one year +€422,593
up €422,593 (+98.1%), from €430,993 to €853,586
- Other debts +€299,305
up €299,305 (+3275.7%), from €9,137 to €308,443
- Reserves -€162,758
down €162,758 (-54.4%), from €299,000 to €136,242
- Current portion of long-term debt +€17,639
up €17,639 (+117.2%), from €15,046 to €32,685
- Gross operating margin +€165,214
up €165,214 (+102.3%), from €161,427 to €326,641
- Depreciation +€28,612
up €28,612 (+57.3%), from €49,935 to €78,547
- Other operating charges +€27,730
up €27,730 (+299.5%), from €9,260 to €36,990
- Taxes +€21,628
up €21,628 (+125.6%), from €17,224 to €38,852
- Financial charges +€16,365
up €16,365 (+78.1%), from €20,952 to €37,317
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 | €806,327 | €1,386,707 | +€580,380 | +72.0% |
| Fixed assets | 21/28 | €592,077 | €1,030,868 | +€438,791 | +74.1% |
| Tangible fixed assets | 22/27 | €592,077 | €1,030,868 | +€438,791 | +74.1% |
| Land and buildings | 22 | €580,750 | €1,030,868 | +€450,118 | +77.5% |
| Furniture and vehicles | 24 | €11,327 | €0 | -€11,327 | -100.0% |
| Current assets | 29/58 | €214,250 | €355,839 | +€141,589 | +66.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €187,602 | €285,689 | +€98,087 | +52.3% |
| Trade receivables | 40 | €185,888 | €285,163 | +€99,275 | +53.4% |
| Other amounts receivable | 41 | €1,715 | €527 | -€1,188 | -69.3% |
| Cash at bank and in hand | 54/58 | €26,084 | €66,591 | +€40,507 | +155.3% |
| Deferred charges and accrued income | 490/1 | €563 | €3,559 | +€2,995 | +531.7% |
| Total equity and liabilities | 10/49 | €806,327 | €1,386,707 | +€580,380 | +72.0% |
| Equity | 10/15 | €301,395 | €137,742 | -€163,652 | -54.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €299,000 | €136,242 | -€162,758 | -54.4% |
| Distributable reserves | 133 | €299,000 | €136,242 | -€162,758 | -54.4% |
| Profit (loss) carried forward | 14 | €895 | €0 | -€895 | -100.0% |
| Amounts payable | 17/49 | €504,932 | €1,248,964 | +€744,032 | +147.4% |
| Amounts payable after more than one year | 17 | €430,993 | €853,586 | +€422,593 | +98.1% |
| Financial debts | 170/4 | €430,993 | €853,586 | +€422,593 | +98.1% |
| Amounts payable within one year | 42/48 | €73,940 | €395,379 | +€321,439 | +434.7% |
| Current portion of amounts payable after more than one year | 42 | €15,046 | €32,685 | +€17,639 | +117.2% |
| Financial debts | 43 | €5,075 | €5,057 | -€18 | -0.4% |
| Credit institutions | 430/8 | €5,075 | €5,057 | -€18 | -0.4% |
| Trade debts | 44 | €16,063 | €19,744 | +€3,682 | +22.9% |
| Suppliers | 440/4 | €16,063 | €19,744 | +€3,682 | +22.9% |
| Taxes, remuneration and social security | 45 | €28,619 | €29,450 | +€831 | +2.9% |
| Taxes | 450/3 | €23,692 | €24,404 | +€712 | +3.0% |
| Remuneration and social security | 454/9 | €4,927 | €5,046 | +€119 | +2.4% |
| Other amounts payable | 47/48 | €9,137 | €308,443 | +€299,305 | +3275.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,935 | €78,547 | +€28,612 | +57.3% |
| Other operating charges | 640/8 | €9,260 | €36,990 | +€27,730 | +299.5% |
| Gross operating margin | 9900 | €161,427 | €326,641 | +€165,214 | +102.3% |
| Operating profit (loss) | 9901 | €102,232 | €211,104 | +€108,872 | +106.5% |
| Financial income | 75/76B | €0 | €412 | +€412 | |
| Recurring financial income | 75 | €0 | €412 | +€412 | |
| Financial charges | 65/66B | €20,952 | €37,317 | +€16,365 | +78.1% |
| Recurring financial charges | 65 | €20,952 | €37,317 | +€16,365 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €81,281 | €174,200 | +€92,919 | +114.3% |
| Income taxes | 67/77 | €17,224 | €38,852 | +€21,628 | +125.6% |
| Profit (loss) for the period | 9904 | €64,056 | €135,348 | +€71,291 | +111.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,056 | €135,348 | +€71,291 | +111.3% |
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 11 October 2026 via checked.be.