ELECTRICAL & NETWORK SOLUTIONS: 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.
ELECTRICAL & NETWORK SOLUTIONS
Largest movements
- Receivables within one year -€209,836
down €209,836 (-49.0%), from €428,065 to €218,230
of which Trade receivables: -€186,120
- Stocks and contracts +€56,505
up €56,505 (+104.6%), from €54,000 to €110,505
- Tangible fixed assets -€19,919
down €19,919 (-3.8%), from €525,454 to €505,535
of which Land and buildings: -€24,451
- Deferred charges and accrued income -€11,810
down €11,810 (-54.9%), from €21,521 to €9,712
- Profit (loss) carried forward -€103,136
new in 2025: -€103,136
- Short-term financial debts -€98,015
down €98,015 (-38.8%), from €252,765 to €154,749
- Current portion of long-term debt +€61,892
up €61,892 (+131.5%), from €47,071 to €108,963
- Reserves -€52,514
down €52,514 (-73.7%), from €71,264 to €18,750
of which Distributable reserves: -€52,514
- Gross operating margin -€179,127
down €179,127 (-18.9%), from €948,138 to €769,011
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 | €1,167,068 | €976,458 | -€190,611 | -16.3% |
| Fixed assets | 21/28 | €525,454 | €505,535 | -€19,919 | -3.8% |
| Tangible fixed assets | 22/27 | €525,454 | €505,535 | -€19,919 | -3.8% |
| Land and buildings | 22 | €514,571 | €490,120 | -€24,451 | -4.8% |
| Plant, machinery and equipment | 23 | €10,884 | €12,225 | +€1,341 | +12.3% |
| Furniture and vehicles | 24 | - | €3,191 | +€3,191 | |
| Current assets | 29/58 | €641,614 | €470,922 | -€170,691 | -26.6% |
| Stocks and contracts in progress | 3 | €54,000 | €110,505 | +€56,505 | +104.6% |
| Stocks | 30/36 | €54,000 | €110,505 | +€56,505 | +104.6% |
| Amounts receivable within one year | 40/41 | €428,065 | €218,230 | -€209,836 | -49.0% |
| Trade receivables | 40 | €356,444 | €170,323 | -€186,120 | -52.2% |
| Other amounts receivable | 41 | €71,622 | €47,907 | -€23,715 | -33.1% |
| Cash at bank and in hand | 54/58 | €138,027 | €132,476 | -€5,551 | -4.0% |
| Deferred charges and accrued income | 490/1 | €21,521 | €9,712 | -€11,810 | -54.9% |
| Total equity and liabilities | 10/49 | €1,167,068 | €976,458 | -€190,611 | -16.3% |
| Equity | 10/15 | €91,264 | -€64,386 | -€155,651 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €71,264 | €18,750 | -€52,514 | -73.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €52,514 | €0 | -€52,514 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€103,136 | -€103,136 | |
| Amounts payable | 17/49 | €1,075,804 | €1,040,844 | -€34,960 | -3.2% |
| Amounts payable after more than one year | 17 | €432,940 | €438,602 | +€5,663 | +1.3% |
| Financial debts | 170/4 | €432,940 | €438,602 | +€5,663 | +1.3% |
| Amounts payable within one year | 42/48 | €642,864 | €602,242 | -€40,622 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €47,071 | €108,963 | +€61,892 | +131.5% |
| Financial debts | 43 | €252,765 | €154,749 | -€98,015 | -38.8% |
| Credit institutions | 430/8 | €252,765 | €154,749 | -€98,015 | -38.8% |
| Trade debts | 44 | €308,726 | €303,342 | -€5,384 | -1.7% |
| Suppliers | 440/4 | €308,726 | €303,342 | -€5,384 | -1.7% |
| Taxes, remuneration and social security | 45 | €34,304 | €35,188 | +€885 | +2.6% |
| Taxes | 450/3 | €11,431 | €8,878 | -€2,553 | -22.3% |
| Remuneration and social security | 454/9 | €22,873 | €26,311 | +€3,438 | +15.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €845,774 | €840,431 | -€5,343 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,765 | €30,717 | +€1,952 | +6.8% |
| Other operating charges | 640/8 | €4,913 | €4,962 | +€50 | +1.0% |
| Non-recurring operating charges | 66A | €5,168 | €0 | -€5,168 | -100.0% |
| Gross operating margin | 9900 | €948,138 | €769,011 | -€179,127 | -18.9% |
| Operating profit (loss) | 9901 | €63,519 | -€107,100 | -€170,618 | |
| Financial income | 75/76B | €627 | €124 | -€503 | -80.2% |
| Recurring financial income | 75 | €627 | €124 | -€503 | -80.2% |
| Financial charges | 65/66B | €44,523 | €46,100 | +€1,577 | +3.5% |
| Recurring financial charges | 65 | €44,523 | €46,100 | +€1,577 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €19,622 | -€153,076 | -€172,698 | |
| Income taxes | 67/77 | €4,662 | €2,575 | -€2,087 | -44.8% |
| Profit (loss) for the period | 9904 | €14,960 | -€155,651 | -€170,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,960 | -€155,651 | -€170,611 |
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 12 October 2026 via checked.be.