V.P. ELECTRO: 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.
V.P. ELECTRO
Largest movements
- Receivables within one year +€86,966
up €86,966 (+177.8%), from €48,922 to €135,888
of which Trade receivables: +€58,995
- Stocks and contracts -€28,339
down €28,339 (-66.9%), from €42,381 to €14,041
of which Contracts in progress: -€31,139
- Deferred charges and accrued income +€14,830
up €14,830 (+1100.9%), from €1,347 to €16,177
- Tangible fixed assets +€14,817
up €14,817 (+23.7%), from €62,644 to €77,460
of which Furniture and vehicles: +€26,260
- Cash -€7,787
down €7,787 (-75.2%), from €10,360 to €2,572
mainly Receivables within one year (-€86,966) and Investment in fixed assets (net) (-€34,487)
- Short-term financial debts +€17,042
up €17,042 (+146.6%), from €11,625 to €28,667
- Reserves +€15,725
up €15,725 (+17.2%), from €91,538 to €107,262
- Debts after one year +€15,380
up €15,380 (+52.1%), from €29,496 to €44,876
- Profit (loss) carried forward +€13,527
no longer reported in 2025 (was -€13,527)
- Trade debts +€8,879
up €8,879 (+42.4%), from €20,918 to €29,797
- Gross operating margin +€57,216
up €57,216 (+91.8%), from €62,345 to €119,561
- Depreciation +€8,223
up €8,223 (+71.8%), from €11,447 to €19,670
- Taxes +€7,141
up €7,141 (+4391.6%), from €163 to €7,303
- Other operating charges -€1,795
down €1,795 (-59.9%), from €2,995 to €1,200
- Financial charges +€1,216
up €1,216 (+38.7%), from €3,138 to €4,354
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 | €165,653 | €246,139 | +€80,486 | +48.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €62,644 | €77,460 | +€14,817 | +23.7% |
| Tangible fixed assets | 22/27 | €62,644 | €77,460 | +€14,817 | +23.7% |
| Land and buildings | 22 | €1,561 | €1,093 | -€468 | -30.0% |
| Plant, machinery and equipment | 23 | €2,073 | €0 | -€2,073 | -100.0% |
| Furniture and vehicles | 24 | €18,290 | €44,549 | +€26,260 | +143.6% |
| Leasing and similar rights | 25 | €40,720 | €31,818 | -€8,902 | -21.9% |
| Current assets | 29/58 | €103,010 | €168,679 | +€65,669 | +63.8% |
| Stocks and contracts in progress | 3 | €42,381 | €14,041 | -€28,339 | -66.9% |
| Stocks | 30/36 | €11,242 | €14,041 | +€2,799 | +24.9% |
| Contracts in progress | 37 | €31,139 | - | -€31,139 | |
| Amounts receivable within one year | 40/41 | €48,922 | €135,888 | +€86,966 | +177.8% |
| Trade receivables | 40 | €34,383 | €93,378 | +€58,995 | +171.6% |
| Other amounts receivable | 41 | €14,539 | €42,511 | +€27,971 | +192.4% |
| Cash at bank and in hand | 54/58 | €10,360 | €2,572 | -€7,787 | -75.2% |
| Deferred charges and accrued income | 490/1 | €1,347 | €16,177 | +€14,830 | +1100.9% |
| Total equity and liabilities | 10/49 | €165,653 | €246,139 | +€80,486 | +48.6% |
| Equity | 10/15 | €84,211 | €113,462 | +€29,252 | +34.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,538 | €107,262 | +€15,725 | +17.2% |
| Distributable reserves | 133 | €91,538 | €107,262 | +€15,725 | +17.2% |
| Profit (loss) carried forward | 14 | -€13,527 | - | +€13,527 | |
| Amounts payable | 17/49 | €81,443 | €132,677 | +€51,234 | +62.9% |
| Amounts payable after more than one year | 17 | €29,496 | €44,876 | +€15,380 | +52.1% |
| Financial debts | 170/4 | €29,496 | €44,876 | +€15,380 | +52.1% |
| Amounts payable within one year | 42/48 | €51,947 | €87,801 | +€35,854 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | €9,163 | €16,502 | +€7,339 | +80.1% |
| Financial debts | 43 | €11,625 | €28,667 | +€17,042 | +146.6% |
| Credit institutions | 430/8 | €11,625 | €28,667 | +€17,042 | +146.6% |
| Trade debts | 44 | €20,918 | €29,797 | +€8,879 | +42.4% |
| Suppliers | 440/4 | €20,918 | €29,797 | +€8,879 | +42.4% |
| Taxes, remuneration and social security | 45 | €6,410 | €6,700 | +€290 | +4.5% |
| Remuneration and social security | 454/9 | €6,410 | €6,700 | +€290 | +4.5% |
| Other amounts payable | 47/48 | €3,831 | €6,136 | +€2,304 | +60.1% |
| Non-recurring operating income | 76A | €14,000 | - | -€14,000 | |
| Remuneration, social security and pensions | 62 | €58,219 | €57,808 | -€411 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,447 | €19,670 | +€8,223 | +71.8% |
| Other operating charges | 640/8 | €2,995 | €1,200 | -€1,795 | -59.9% |
| Gross operating margin | 9900 | €62,345 | €119,561 | +€57,216 | +91.8% |
| Operating profit (loss) | 9901 | -€10,315 | €40,882 | +€51,198 | |
| Financial income | 75/76B | €3 | €27 | +€24 | +732.3% |
| Recurring financial income | 75 | €3 | €27 | +€24 | +732.3% |
| Financial charges | 65/66B | €3,138 | €4,354 | +€1,216 | +38.7% |
| Recurring financial charges | 65 | €3,138 | €4,354 | +€1,216 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,451 | €36,555 | +€50,006 | |
| Income taxes | 67/77 | €163 | €7,303 | +€7,141 | +4391.6% |
| Profit (loss) for the period | 9904 | -€13,613 | €29,252 | +€42,865 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,613 | €29,252 | +€42,865 |
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 10 October 2026 via checked.be.