VEDIMAN: what changed
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%), 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 (+3,276%), 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%), from €15,046 to €32,685
- Gross operating margin +€165,214
up €165,214 (+102%), 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%), from €9,260 to €36,990
- Taxes +€21,628
up €21,628 (+126%), from €17,224 to €38,852
- Financial charges +€16,365
up €16,365 (+78.1%), from €20,952 to €37,317
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it 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% |
| 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% |
| Deferred charges and accrued income | 490/1 | €563 | €3,559 | +€2,995 | +532% |
| 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% |
| Amounts payable | 17/49 | €504,932 | €1,248,964 | +€744,032 | +147% |
| 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 | +435% |
| Current portion of amounts payable after more than one year | 42 | €15,046 | €32,685 | +€17,639 | +117% |
| 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 | +3,276% |
| 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% |
| Gross operating margin | 9900 | €161,427 | €326,641 | +€165,214 | +102% |
| Operating profit (loss) | 9901 | €102,232 | €211,104 | +€108,872 | +106% |
| 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% |
| Income taxes | 67/77 | €17,224 | €38,852 | +€21,628 | +126% |
| Profit (loss) for the period | 9904 | €64,056 | €135,348 | +€71,291 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €64,056 | €135,348 | +€71,291 | +111% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.