VEDRO: 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.
VEDRO
Largest movements
- Receivables within one year -€86,658
down €86,658 (-17.5%), from €496,122 to €409,464
of which Other amounts receivable: -€89,348
- Tangible fixed assets -€49,058
down €49,058 (-22.0%), from €222,669 to €173,611
of which Furniture and vehicles: -€28,805
- Stocks and contracts +€40,721
up €40,721 (+13.7%), from €297,074 to €337,795
- Cash -€19,182
down €19,182 (-36.2%), from €52,940 to €33,758
mainly Other debts (-€116,354) and Net result for the year (-€47,991)
- Deferred charges and accrued income -€14,579
down €14,579 (-79.7%), from €18,297 to €3,718
- Other debts -€116,354
down €116,354 (-30.1%), from €386,240 to €269,887
- Trade debts +€88,001
up €88,001 (+49.5%), from €177,611 to €265,612
- Profit (loss) carried forward -€47,991
down €47,991 (-180.8%), from -€26,536 to -€74,527
- Current portion of long-term debt -€31,749
down €31,749 (-53.5%), from €59,334 to €27,585
- Debts after one year -€27,585
down €27,585 (-24.2%), from €113,918 to €86,333
- Gross operating margin -€24,628
down €24,628 (-4.7%), from €526,083 to €501,455
- Financial income +€8,867
up €8,867 (+170.0%), from €5,217 to €14,085
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 | €1,193,215 | €1,059,946 | -€133,269 | -11.2% |
| Fixed assets | 21/28 | €324,269 | €275,211 | -€49,058 | -15.1% |
| Tangible fixed assets | 22/27 | €222,669 | €173,611 | -€49,058 | -22.0% |
| Plant, machinery and equipment | 23 | €145,628 | €125,376 | -€20,252 | -13.9% |
| Furniture and vehicles | 24 | €77,041 | €48,235 | -€28,805 | -37.4% |
| Financial fixed assets | 28 | €101,600 | €101,600 | = | 0.0% |
| Current assets | 29/58 | €868,947 | €784,735 | -€84,211 | -9.7% |
| Amounts receivable after more than one year | 29 | €4,514 | - | -€4,514 | |
| Trade receivables | 290 | €4,514 | - | -€4,514 | |
| Stocks and contracts in progress | 3 | €297,074 | €337,795 | +€40,721 | +13.7% |
| Stocks | 30/36 | €297,074 | €337,795 | +€40,721 | +13.7% |
| Amounts receivable within one year | 40/41 | €496,122 | €409,464 | -€86,658 | -17.5% |
| Trade receivables | 40 | €35,725 | €38,415 | +€2,690 | +7.5% |
| Other amounts receivable | 41 | €460,398 | €371,049 | -€89,348 | -19.4% |
| Cash at bank and in hand | 54/58 | €52,940 | €33,758 | -€19,182 | -36.2% |
| Deferred charges and accrued income | 490/1 | €18,297 | €3,718 | -€14,579 | -79.7% |
| Total equity and liabilities | 10/49 | €1,193,215 | €1,059,946 | -€133,269 | -11.2% |
| Equity | 10/15 | €402,225 | €354,235 | -€47,991 | -11.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €366,761 | €366,761 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €345,561 | €345,561 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,536 | -€74,527 | -€47,991 | -180.8% |
| Amounts payable | 17/49 | €790,990 | €705,712 | -€85,278 | -10.8% |
| Amounts payable after more than one year | 17 | €113,918 | €86,333 | -€27,585 | -24.2% |
| Financial debts | 170/4 | €113,918 | €86,333 | -€27,585 | -24.2% |
| Amounts payable within one year | 42/48 | €669,712 | €612,218 | -€57,495 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €59,334 | €27,585 | -€31,749 | -53.5% |
| Trade debts | 44 | €177,611 | €265,612 | +€88,001 | +49.5% |
| Suppliers | 440/4 | €177,611 | €265,612 | +€88,001 | +49.5% |
| Taxes, remuneration and social security | 45 | €46,527 | €49,134 | +€2,607 | +5.6% |
| Taxes | 450/3 | €2,869 | €4,598 | +€1,729 | +60.3% |
| Remuneration and social security | 454/9 | €43,659 | €44,537 | +€878 | +2.0% |
| Other amounts payable | 47/48 | €386,240 | €269,887 | -€116,354 | -30.1% |
| Accrued charges and deferred income | 492/3 | €7,360 | €7,161 | -€199 | -2.7% |
| Remuneration, social security and pensions | 62 | €460,716 | €464,334 | +€3,618 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,809 | €63,311 | +€3,502 | +5.9% |
| Other operating charges | 640/8 | €15,468 | €15,539 | +€71 | +0.5% |
| Non-recurring operating charges | 66A | - | €1,655 | +€1,655 | |
| Gross operating margin | 9900 | €526,083 | €501,455 | -€24,628 | -4.7% |
| Operating profit (loss) | 9901 | -€9,909 | -€43,383 | -€33,475 | -337.8% |
| Financial income | 75/76B | €5,217 | €14,085 | +€8,867 | +170.0% |
| Recurring financial income | 75 | €5,217 | €14,085 | +€8,867 | +170.0% |
| Financial charges | 65/66B | €21,202 | €18,340 | -€2,862 | -13.5% |
| Recurring financial charges | 65 | €20,802 | €18,340 | -€2,462 | -11.8% |
| Non-recurring financial charges | 66B | €400 | - | -€400 | |
| Profit (loss) for the period before taxes | 9903 | -€25,893 | -€47,638 | -€21,745 | -84.0% |
| Income taxes | 67/77 | €643 | €352 | -€291 | -45.2% |
| Profit (loss) for the period | 9904 | -€26,536 | -€47,991 | -€21,454 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,536 | -€47,991 | -€21,454 | -80.8% |
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 11 October 2026 via checked.be.