THOMAS VANNEVEL: what changed
What changed
THOMAS VANNEVEL
NACE 43.212, Electrical installation work in industrial facilities
filed annual accounts (NBB)
Net result for the year
€84,641
2024 · €152,565-€67,924
Equity
€738,111
2024 · €654,303+€83,808
Cash
€297,931
2024 · €259,820+€38,111
Balance sheet total
€1.0m
2024 · €1.1m-€53,998
Largest movements
Assets
- Tangible fixed assets -€51,441
down €51,441 (-11.4%), from €450,619 to €399,178
of which Furniture and vehicles: -€33,989
- Current investments -€50,150
down €50,150 (-33.4%), from €150,000 to €99,850
- Stocks and contracts +€40,661
up €40,661 (+271%), from €15,000 to €55,661
- Cash +€38,111
up €38,111 (+14.7%), from €259,820 to €297,931
mainly Net result for the year (+€84,641) and Depreciation (+€58,439)
- Receivables after one year -€30,737
down €30,737 (-23.9%), from €128,515 to €97,777
of which Trade receivables: -€128,515
Equity and liabilities
- Reserves +€83,808
up €83,808 (+13.2%), from €635,703 to €719,511
of which Distributable reserves: +€168,008
- Trade debts -€68,108
down €68,108 (-78.1%), from €87,160 to €19,052
- Accrued charges and deferred income -€64,114
down €64,114 (-90.3%), from €70,989 to €6,875
- Debts after one year -€38,453
down €38,453 (-32.4%), from €118,750 to €80,297
- Tax, wage and social debts +€24,901
up €24,901 (+688%), from €3,620 to €28,520
of which Taxes: +€26,070
Income statement
- Gross operating margin -€85,031
down €85,031 (-31.1%), from €273,057 to €188,026
- Staff costs -€16,165
down €16,165 (-100%), from €16,165 to €0
- Depreciation +€16,096
up €16,096 (+38.0%), from €42,343 to €58,439
- Financial income +€13,940
up €13,940 (+181%), from €7,688 to €21,628
- Taxes -€4,846
down €4,846 (-9.3%), from €52,091 to €47,245
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.
Result 2024
€152,565
Gross operating margin
-€85,031
Staff costs
+€16,165
Depreciation
-€16,096
Other operating charges
-€3,619
Other operating items
+€80
Financial income
+€13,940
Financial charges
+€1,791
Taxes
+€4,846
Result 2025
€84,641
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€33,309
Investment
+€43,151
Financing
-€38,350
Cash 2024
€259,820
From operations (derived)
+€33,309
Net result for the year
+€84,641
Depreciation
+€58,439
Receivables after one year
+€30,737
Stocks and contracts
-€40,661
Receivables within one year
+€332
Deferred charges and accrued income
+€110
Trade debts
-€68,108
Tax, wage and social debts
+€24,901
Other debts
+€7,032
Accrued charges and deferred income
-€64,114
Investment (derived)
+€43,151
Investment in fixed assets (net)
-€6,998
Current investments
+€50,150
Financing
-€38,350
Debts after one year
-€38,453
Current portion of long-term debt
+€936
Contributions, distributions and other
-€833
Cash 2025
€297,931
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,074,035 | €1,020,037 | -€53,998 | -5.0% |
| Fixed assets | 21/28 | €450,619 | €399,178 | -€51,441 | -11.4% |
| Tangible fixed assets | 22/27 | €450,619 | €399,178 | -€51,441 | -11.4% |
| Land and buildings | 22 | €363,204 | €343,895 | -€19,309 | -5.3% |
| Plant, machinery and equipment | 23 | €5,071 | €6,928 | +€1,857 | +36.6% |
| Furniture and vehicles | 24 | €82,343 | €48,354 | -€33,989 | -41.3% |
| Current assets | 29/58 | €623,416 | €620,859 | -€2,557 | -0.4% |
| Amounts receivable after more than one year | 29 | €128,515 | €97,777 | -€30,737 | -23.9% |
| Trade receivables | 290 | €128,515 | €0 | -€128,515 | -100% |
| Other amounts receivable | 291 | - | €97,777 | +€97,777 | |
| Stocks and contracts in progress | 3 | €15,000 | €55,661 | +€40,661 | +271% |
| Stocks | 30/36 | €15,000 | €55,661 | +€40,661 | +271% |
| Amounts receivable within one year | 40/41 | €63,172 | €62,841 | -€332 | -0.5% |
| Trade receivables | 40 | €29,940 | €54,298 | +€24,358 | +81.4% |
| Other amounts receivable | 41 | €33,233 | €8,543 | -€24,690 | -74.3% |
| Current investments | 50/53 | €150,000 | €99,850 | -€50,150 | -33.4% |
| Cash at bank and in hand | 54/58 | €259,820 | €297,931 | +€38,111 | +14.7% |
| Deferred charges and accrued income | 490/1 | €6,910 | €6,800 | -€110 | -1.6% |
| Total equity and liabilities | 10/49 | €1,074,035 | €1,020,037 | -€53,998 | -5.0% |
| Equity | 10/15 | €654,303 | €738,111 | +€83,808 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €635,703 | €719,511 | +€83,808 | +13.2% |
| Tax-exempt reserves | 132 | €168,400 | €84,200 | -€84,200 | -50.0% |
| Distributable reserves | 133 | €467,303 | €635,311 | +€168,008 | +36.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €419,732 | €281,926 | -€137,806 | -32.8% |
| Amounts payable after more than one year | 17 | €118,750 | €80,297 | -€38,453 | -32.4% |
| Financial debts | 170/4 | €118,750 | €80,297 | -€38,453 | -32.4% |
| Amounts payable within one year | 42/48 | €229,993 | €194,754 | -€35,239 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €37,517 | €38,453 | +€936 | +2.5% |
| Trade debts | 44 | €87,160 | €19,052 | -€68,108 | -78.1% |
| Suppliers | 440/4 | €87,160 | €19,052 | -€68,108 | -78.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,620 | €28,520 | +€24,901 | +688% |
| Taxes | 450/3 | €2,450 | €28,520 | +€26,070 | +1,064% |
| Remuneration and social security | 454/9 | €1,170 | €0 | -€1,170 | -100% |
| Other amounts payable | 47/48 | €101,697 | €108,729 | +€7,032 | +6.9% |
| Accrued charges and deferred income | 492/3 | €70,989 | €6,875 | -€64,114 | -90.3% |
| Non-recurring operating income | 76A | €9,000 | €0 | -€9,000 | -100% |
| Remuneration, social security and pensions | 62 | €16,165 | €0 | -€16,165 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,343 | €58,439 | +€16,096 | +38.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,372 | €6,990 | +€3,619 | +107% |
| Non-recurring operating charges | 66A | - | -€80 | -€80 | |
| Gross operating margin | 9900 | €273,057 | €188,026 | -€85,031 | -31.1% |
| Operating profit (loss) | 9901 | €211,177 | €122,677 | -€88,500 | -41.9% |
| Financial income | 75/76B | €7,688 | €21,628 | +€13,940 | +181% |
| Recurring financial income | 75 | €7,688 | €21,628 | +€13,940 | +181% |
| Financial charges | 65/66B | €14,209 | €12,418 | -€1,791 | -12.6% |
| Recurring financial charges | 65 | €14,209 | €12,418 | -€1,791 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €204,656 | €131,886 | -€72,770 | -35.6% |
| Income taxes | 67/77 | €52,091 | €47,245 | -€4,846 | -9.3% |
| Profit (loss) for the period | 9904 | €152,565 | €84,641 | -€67,924 | -44.5% |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €68,365 | €168,841 | +€100,476 | +147% |
Next steps
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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 3 November 2026 via checked.be.