VAL-ELECTRIC: 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.
VAL-ELECTRIC
Largest movements
- Receivables within one year +€94,783
up €94,783 (+35.5%), from €267,080 to €361,863
of which Other amounts receivable: +€114,689
- Cash -€27,005
down €27,005 (-90.0%), from €30,002 to €2,997
mainly Receivables within one year (-€94,783) and Trade debts (-€22,780)
- Tangible fixed assets -€4,277
down €4,277 (-38.2%), from €11,193 to €6,916
of which Furniture and vehicles: -€9,110
- Reserves +€66,398
up €66,398 (+92.1%), from €72,117 to €138,515
- Trade debts -€22,780
no longer reported in 2024 (was €22,780)
- Tax, wage and social debts +€20,503
up €20,503 (+23.3%), from €88,134 to €108,637
of which Taxes: +€18,649
- Depreciation +€6,064
up €6,064 (+724.5%), from €837 to €6,901
- Gross operating margin -€5,603
down €5,603 (-4.4%), from €125,949 to €120,346
- Staff costs -€4,431
down €4,431 (-21.9%), from €20,189 to €15,758
- Taxes -€1,433
down €1,433 (-5.0%), from €28,912 to €27,479
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,015 | €372,516 | +€63,501 | +20.5% |
| Fixed assets | 21/28 | €11,933 | €7,656 | -€4,277 | -35.8% |
| Tangible fixed assets | 22/27 | €11,193 | €6,916 | -€4,277 | -38.2% |
| Plant, machinery and equipment | 23 | - | €4,833 | +€4,833 | |
| Furniture and vehicles | 24 | €11,193 | €2,083 | -€9,110 | -81.4% |
| Financial fixed assets | 28 | €740 | €740 | = | 0.0% |
| Current assets | 29/58 | €297,082 | €364,860 | +€67,778 | +22.8% |
| Amounts receivable within one year | 40/41 | €267,080 | €361,863 | +€94,783 | +35.5% |
| Trade receivables | 40 | €90,089 | €70,183 | -€19,906 | -22.1% |
| Other amounts receivable | 41 | €176,991 | €291,680 | +€114,689 | +64.8% |
| Cash at bank and in hand | 54/58 | €30,002 | €2,997 | -€27,005 | -90.0% |
| Total equity and liabilities | 10/49 | €309,015 | €372,516 | +€63,501 | +20.5% |
| Equity | 10/15 | €195,645 | €262,043 | +€66,398 | +33.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,117 | €138,515 | +€66,398 | +92.1% |
| Distributable reserves | 133 | €72,117 | €138,515 | +€66,398 | +92.1% |
| Profit (loss) carried forward | 14 | €121,528 | €121,528 | = | 0.0% |
| Amounts payable | 17/49 | €113,370 | €110,473 | -€2,897 | -2.6% |
| Amounts payable within one year | 42/48 | €111,550 | €109,273 | -€2,277 | -2.0% |
| Trade debts | 44 | €22,780 | - | -€22,780 | |
| Suppliers | 440/4 | €22,780 | - | -€22,780 | |
| Advances received on contracts in progress | 46 | €636 | €636 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €88,134 | €108,637 | +€20,503 | +23.3% |
| Taxes | 450/3 | €81,187 | €99,836 | +€18,649 | +23.0% |
| Remuneration and social security | 454/9 | €6,947 | €8,801 | +€1,854 | +26.7% |
| Accrued charges and deferred income | 492/3 | €1,820 | €1,200 | -€620 | -34.1% |
| Remuneration, social security and pensions | 62 | €20,189 | €15,758 | -€4,431 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €837 | €6,901 | +€6,064 | +724.5% |
| Other operating charges | 640/8 | €2,801 | €2,790 | -€11 | -0.4% |
| Non-recurring operating charges | 66A | €365 | €75 | -€290 | -79.5% |
| Gross operating margin | 9900 | €125,949 | €120,346 | -€5,603 | -4.4% |
| Operating profit (loss) | 9901 | €101,757 | €94,822 | -€6,935 | -6.8% |
| Financial charges | 65/66B | €429 | €945 | +€516 | +120.3% |
| Recurring financial charges | 65 | €429 | €945 | +€516 | +120.3% |
| Profit (loss) for the period before taxes | 9903 | €101,328 | €93,877 | -€7,451 | -7.4% |
| Income taxes | 67/77 | €28,912 | €27,479 | -€1,433 | -5.0% |
| Profit (loss) for the period | 9904 | €72,416 | €66,398 | -€6,018 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €72,416 | €66,398 | -€6,018 | -8.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.