VADOYA: 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.
VADOYA
Largest movements
- Receivables within one year -€49,170
down €49,170 (-43.7%), from €112,439 to €63,269
of which Trade receivables: -€45,417
- Tangible fixed assets -€47,108
down €47,108 (-12.1%), from €390,929 to €343,820
- Cash +€36,976
up €36,976 (+10.9%), from €340,014 to €376,990
mainly Net result for the year (+€74,054) and Depreciation (+€59,299)
- Stocks and contracts -€26,153
down €26,153 (-43.5%), from €60,062 to €33,909
of which Stocks: -€17,153
- Reserves -€70,000
down €70,000 (-12.1%), from €577,000 to €507,000
- Debts after one year -€32,998
down €32,998 (-28.2%), from €116,842 to €83,844
- Tax, wage and social debts +€9,545
up €9,545 (+1,034%), from €923 to €10,468
of which Taxes: +€10,468
- Gross operating margin -€14,225
down €14,225 (-6.6%), from €215,257 to €201,031
- Depreciation -€8,292
down €8,292 (-12.3%), from €67,591 to €59,299
- Staff costs +€6,616
up €6,616 (+41.9%), from €15,777 to €22,394
- Financial charges -€6,227
down €6,227 (-33.1%), from €18,839 to €12,612
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 | €917,096 | €831,344 | -€85,753 | -9.4% |
| Fixed assets | 21/28 | €390,929 | €343,820 | -€47,108 | -12.1% |
| Tangible fixed assets | 22/27 | €390,929 | €343,820 | -€47,108 | -12.1% |
| Land and buildings | 22 | €244,658 | €228,043 | -€16,616 | -6.8% |
| Plant, machinery and equipment | 23 | €39,431 | €29,577 | -€9,854 | -25.0% |
| Furniture and vehicles | 24 | €106,839 | €86,201 | -€20,638 | -19.3% |
| Current assets | 29/58 | €526,168 | €487,523 | -€38,644 | -7.3% |
| Stocks and contracts in progress | 3 | €60,062 | €33,909 | -€26,153 | -43.5% |
| Stocks | 30/36 | €36,062 | €18,909 | -€17,153 | -47.6% |
| Contracts in progress | 37 | €24,000 | €15,000 | -€9,000 | -37.5% |
| Amounts receivable within one year | 40/41 | €112,439 | €63,269 | -€49,170 | -43.7% |
| Trade receivables | 40 | €61,442 | €16,025 | -€45,417 | -73.9% |
| Other amounts receivable | 41 | €50,998 | €47,244 | -€3,753 | -7.4% |
| Cash at bank and in hand | 54/58 | €340,014 | €376,990 | +€36,976 | +10.9% |
| Deferred charges and accrued income | 490/1 | €13,653 | €13,355 | -€298 | -2.2% |
| Total equity and liabilities | 10/49 | €917,096 | €831,344 | -€85,753 | -9.4% |
| Equity | 10/15 | €609,971 | €540,025 | -€69,946 | -11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €577,000 | €507,000 | -€70,000 | -12.1% |
| Distributable reserves | 133 | €577,000 | €507,000 | -€70,000 | -12.1% |
| Profit (loss) carried forward | 14 | €26,771 | €26,825 | +€54 | +0.2% |
| Amounts payable | 17/49 | €307,125 | €291,319 | -€15,807 | -5.1% |
| Amounts payable after more than one year | 17 | €116,842 | €83,844 | -€32,998 | -28.2% |
| Financial debts | 170/4 | €116,842 | €83,844 | -€32,998 | -28.2% |
| Amounts payable within one year | 42/48 | €190,284 | €207,475 | +€17,191 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €42,029 | €32,998 | -€9,032 | -21.5% |
| Trade debts | 44 | €10,737 | €18,936 | +€8,200 | +76.4% |
| Suppliers | 440/4 | €10,737 | €18,936 | +€8,200 | +76.4% |
| Taxes, remuneration and social security | 45 | €923 | €10,468 | +€9,545 | +1,034% |
| Taxes | 450/3 | - | €10,468 | +€10,468 | |
| Remuneration and social security | 454/9 | €923 | - | -€923 | |
| Other amounts payable | 47/48 | €136,595 | €145,073 | +€8,478 | +6.2% |
| Remuneration, social security and pensions | 62 | €15,777 | €22,394 | +€6,616 | +41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,591 | €59,299 | -€8,292 | -12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €950 | - | -€950 | |
| Other operating charges | 640/8 | €6,189 | €6,130 | -€58 | -0.9% |
| Gross operating margin | 9900 | €215,257 | €201,031 | -€14,225 | -6.6% |
| Operating profit (loss) | 9901 | €124,750 | €113,209 | -€11,542 | -9.3% |
| Financial income | 75/76B | €3,332 | €3,100 | -€232 | -7.0% |
| Recurring financial income | 75 | €3,332 | €3,100 | -€232 | -7.0% |
| Financial charges | 65/66B | €18,839 | €12,612 | -€6,227 | -33.1% |
| Recurring financial charges | 65 | €18,839 | €12,612 | -€6,227 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €109,243 | €103,696 | -€5,547 | -5.1% |
| Income taxes | 67/77 | €30,442 | €29,643 | -€799 | -2.6% |
| Profit (loss) for the period | 9904 | €78,801 | €74,054 | -€4,748 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,801 | €74,054 | -€4,748 | -6.0% |
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 18 October 2026 via checked.be.