VEDRANLAW: 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.
VEDRANLAW
Largest movements
- Cash +€31,405
up €31,405 (+135%), from €23,223 to €54,629
mainly Net result for the year (+€34,206) and Depreciation (+€8,641)
- Tangible fixed assets -€6,161
down €6,161 (-15.4%), from €39,995 to €33,834
of which Furniture and vehicles: -€7,731
- Receivables within one year +€3,094
up €3,094 (+23.4%), from €13,246 to €16,340
of which Trade receivables: +€9,289
- Deferred charges and accrued income +€2,572
new in 2025: €2,572
- Reserves +€34,206
up €34,206 (+77.2%), from €44,313 to €78,519
- Other debts -€5,787
down €5,787 (-24.4%), from €23,668 to €17,881
- Advances received +€1,939
new in 2025: €1,939
- Depreciation +€7,580
up €7,580 (+714%), from €1,062 to €8,641
- Gross operating margin -€4,299
down €4,299 (-7.3%), from €58,819 to €54,520
- Taxes -€2,799
down €2,799 (-23.2%), from €12,079 to €9,279
- Other operating charges +€1,022
up €1,022 (+86.2%), from €1,185 to €2,207
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 | €76,543 | €107,433 | +€30,890 | +40.4% |
| Fixed assets | 21/28 | €40,074 | €33,893 | -€6,181 | -15.4% |
| Intangible fixed assets | 21 | €79 | €59 | -€20 | -25.3% |
| Tangible fixed assets | 22/27 | €39,995 | €33,834 | -€6,161 | -15.4% |
| Plant, machinery and equipment | 23 | - | €1,569 | +€1,569 | |
| Furniture and vehicles | 24 | €39,995 | €32,264 | -€7,731 | -19.3% |
| Current assets | 29/58 | €36,469 | €73,541 | +€37,071 | +102% |
| Amounts receivable within one year | 40/41 | €13,246 | €16,340 | +€3,094 | +23.4% |
| Trade receivables | 40 | €1,330 | €10,620 | +€9,289 | +698% |
| Other amounts receivable | 41 | €11,915 | €5,721 | -€6,195 | -52.0% |
| Cash at bank and in hand | 54/58 | €23,223 | €54,629 | +€31,405 | +135% |
| Deferred charges and accrued income | 490/1 | - | €2,572 | +€2,572 | |
| Total equity and liabilities | 10/49 | €76,543 | €107,433 | +€30,890 | +40.4% |
| Equity | 10/15 | €49,313 | €83,519 | +€34,206 | +69.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,313 | €78,519 | +€34,206 | +77.2% |
| Distributable reserves | 133 | €44,313 | €78,519 | +€34,206 | +77.2% |
| Amounts payable | 17/49 | €27,230 | €23,914 | -€3,316 | -12.2% |
| Amounts payable within one year | 42/48 | €27,230 | €23,865 | -€3,365 | -12.4% |
| Trade debts | 44 | €693 | €236 | -€456 | -65.9% |
| Suppliers | 440/4 | €693 | €236 | -€456 | -65.9% |
| Advances received on contracts in progress | 46 | - | €1,939 | +€1,939 | |
| Taxes, remuneration and social security | 45 | €2,870 | €3,809 | +€939 | +32.7% |
| Taxes | 450/3 | €1,620 | €3,809 | +€2,189 | +135% |
| Remuneration and social security | 454/9 | €1,250 | - | -€1,250 | |
| Other amounts payable | 47/48 | €23,668 | €17,881 | -€5,787 | -24.4% |
| Accrued charges and deferred income | 492/3 | - | €49 | +€49 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,062 | €8,641 | +€7,580 | +714% |
| Other operating charges | 640/8 | €1,185 | €2,207 | +€1,022 | +86.2% |
| Gross operating margin | 9900 | €58,819 | €54,520 | -€4,299 | -7.3% |
| Operating profit (loss) | 9901 | €56,572 | €43,671 | -€12,901 | -22.8% |
| Financial income | 75/76B | €4 | €1 | -€3 | -84.4% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -84.4% |
| Financial charges | 65/66B | €184 | €186 | +€2 | +1.2% |
| Recurring financial charges | 65 | €184 | €186 | +€2 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €56,391 | €43,485 | -€12,906 | -22.9% |
| Income taxes | 67/77 | €12,079 | €9,279 | -€2,799 | -23.2% |
| Profit (loss) for the period | 9904 | €44,313 | €34,206 | -€10,107 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,313 | €34,206 | -€10,107 | -22.8% |
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.