VLADECOM: 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.
VLADECOM
Largest movements
- Tangible fixed assets -€31,242
down €31,242 (-4.7%), from €666,179 to €634,937
of which Land and buildings: -€18,970
- Cash -€13,181
down €13,181 (-4.9%), from €266,617 to €253,436
mainly Debts after one year (-€53,143) and Other debts (-€27,824)
- Debts after one year -€53,143
down €53,143 (-22.6%), from €235,490 to €182,347
- Other debts -€27,824
down €27,824 (-29.6%), from €93,919 to €66,095
- Current portion of long-term debt +€27,164
up €27,164 (+178.1%), from €15,252 to €42,416
- Gross operating margin -€37,596
down €37,596 (-42.0%), from €89,594 to €51,998
- Taxes -€10,423
down €10,423 (-95.7%), from €10,888 to €465
- Financial charges -€6,494
down €6,494 (-40.7%), from €15,971 to €9,477
- Other operating charges +€5,388
up €5,388 (+192.3%), from €2,803 to €8,191
- Depreciation +€1,511
up €1,511 (+4.7%), from €32,004 to €33,515
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,252,093 | €1,197,945 | -€54,149 | -4.3% |
| Fixed assets | 21/28 | €666,290 | €635,048 | -€31,242 | -4.7% |
| Tangible fixed assets | 22/27 | €666,179 | €634,937 | -€31,242 | -4.7% |
| Land and buildings | 22 | €617,055 | €598,085 | -€18,970 | -3.1% |
| Plant, machinery and equipment | 23 | €16,069 | €10,563 | -€5,506 | -34.3% |
| Furniture and vehicles | 24 | €33,054 | €24,359 | -€8,695 | -26.3% |
| Other tangible fixed assets | 26 | - | €1,930 | +€1,930 | |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €585,803 | €562,896 | -€22,906 | -3.9% |
| Amounts receivable within one year | 40/41 | €144,707 | €135,033 | -€9,673 | -6.7% |
| Trade receivables | 40 | €136,394 | €107,986 | -€28,408 | -20.8% |
| Other amounts receivable | 41 | €8,312 | €27,047 | +€18,735 | +225.4% |
| Current investments | 50/53 | €170,673 | €170,673 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €266,617 | €253,436 | -€13,181 | -4.9% |
| Deferred charges and accrued income | 490/1 | €3,807 | €3,755 | -€52 | -1.4% |
| Total equity and liabilities | 10/49 | €1,252,093 | €1,197,945 | -€54,149 | -4.3% |
| Equity | 10/15 | €762,519 | €762,870 | +€351 | 0.0% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €77,665 | €78,016 | +€351 | +0.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €75,806 | €76,157 | +€351 | +0.5% |
| Profit (loss) carried forward | 14 | €677,417 | €677,417 | = | 0.0% |
| Provisions and deferred taxes | 16 | €112,243 | €103,883 | -€8,359 | -7.4% |
| Provisions for liabilities and charges | 160/5 | €112,243 | €103,883 | -€8,359 | -7.4% |
| Other liabilities and charges | 164/5 | €112,243 | €103,883 | -€8,359 | -7.4% |
| Amounts payable | 17/49 | €377,331 | €331,191 | -€46,141 | -12.2% |
| Amounts payable after more than one year | 17 | €235,490 | €182,347 | -€53,143 | -22.6% |
| Financial debts | 170/4 | €235,490 | €182,347 | -€53,143 | -22.6% |
| Amounts payable within one year | 42/48 | €141,391 | €148,844 | +€7,452 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €15,252 | €42,416 | +€27,164 | +178.1% |
| Trade debts | 44 | €23,946 | €31,246 | +€7,300 | +30.5% |
| Suppliers | 440/4 | €23,946 | €31,246 | +€7,300 | +30.5% |
| Taxes, remuneration and social security | 45 | €8,274 | €9,087 | +€813 | +9.8% |
| Taxes | 450/3 | €4,827 | €5,581 | +€754 | +15.6% |
| Remuneration and social security | 454/9 | €3,447 | €3,506 | +€59 | +1.7% |
| Other amounts payable | 47/48 | €93,919 | €66,095 | -€27,824 | -29.6% |
| Accrued charges and deferred income | 492/3 | €450 | - | -€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,004 | €33,515 | +€1,511 | +4.7% |
| Other operating charges | 640/8 | €2,803 | €8,191 | +€5,388 | +192.3% |
| Gross operating margin | 9900 | €89,594 | €51,998 | -€37,596 | -42.0% |
| Operating profit (loss) | 9901 | €54,787 | €10,293 | -€44,494 | -81.2% |
| Financial income | 75/76B | €47 | €0 | -€47 | -99.8% |
| Recurring financial income | 75 | €47 | €0 | -€47 | -99.8% |
| Financial charges | 65/66B | €15,971 | €9,477 | -€6,494 | -40.7% |
| Recurring financial charges | 65 | €15,971 | €9,477 | -€6,494 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €38,864 | €816 | -€38,048 | -97.9% |
| Income taxes | 67/77 | €10,888 | €465 | -€10,423 | -95.7% |
| Profit (loss) for the period | 9904 | €27,976 | €351 | -€27,625 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,976 | €351 | -€27,625 | -98.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.