VANGEEL ELECTRICAL: what changed
What changed
VANGEEL ELECTRICAL
NACE 95.210, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
filed annual accounts (NBB)
Net result for the year
-€129,127
2024 · €78,478-€207,605
Equity
€311,801
2024 · €440,927-€129,127
Cash
€309,589
2024 · €312,161-€2,572
Balance sheet total
€1.7m
2024 · €1.3m+€367,349
Largest movements
Assets
- Stocks and contracts +€197,102
up €197,102 (+310%), from €63,615 to €260,717
- Receivables within one year +€127,846
up €127,846 (+24.9%), from €512,492 to €640,338
of which Trade receivables: +€113,153
- Tangible fixed assets +€60,335
up €60,335 (+18.4%), from €327,675 to €388,010
of which Land and buildings: +€93,869
- Intangible fixed assets -€21,895
down €21,895 (-21.2%), from €103,382 to €81,487
Equity and liabilities
- Debts after one year +€295,710
up €295,710 (+97.5%), from €303,163 to €598,873
of which Trade debts: +€400,000
- Trade debts +€237,710
up €237,710 (+80.0%), from €297,245 to €534,954
- Profit (loss) carried forward -€124,575
down €124,575 (-71.0%), from €175,444 to €50,868
- Current portion of long-term debt -€17,688
down €17,688 (-14.0%), from €126,790 to €109,102
Income statement
- Provisions +€140,000
up €140,000 (+93.3%), from -€150,000 to -€10,000
- Gross operating margin -€73,490
down €73,490 (-7.8%), from €937,035 to €863,546
- Staff costs -€66,741
down €66,741 (-7.5%), from €894,576 to €827,835
- Financial income -€54,001
down €54,001 (-80.2%), from €67,327 to €13,326
- Write-downs +€30,000
no longer reported in 2025 (was -€30,000)
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
€78,478
Gross operating margin
-€73,490
Staff costs
+€66,741
Depreciation
-€14,002
Write-downs
-€30,000
Provisions
-€140,000
Other operating charges
-€43
Other operating items
+€1,210
Financial income
-€54,001
Financial charges
+€7,400
Taxes
+€28,580
Result 2025
-€129,127
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
-€77,778
Investment
-€202,816
Financing
+€278,022
Cash 2024
€312,161
From operations (derived)
-€77,778
Net result for the year
-€129,127
Depreciation
+€164,376
Stocks and contracts
-€197,102
Receivables within one year
-€127,846
Deferred charges and accrued income
-€6,533
Provisions
-€10,912
Trade debts
+€237,710
Tax, wage and social debts
+€2,190
Other debts
-€10,533
Investment (derived)
-€202,816
Investment in fixed assets (net)
-€202,816
Financing
+€278,022
Debts after one year
+€295,710
Current portion of long-term debt
-€17,688
Cash 2025
€309,589
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,332,983 | €1,700,332 | +€367,349 | +27.6% |
| Fixed assets | 21/28 | €444,714 | €483,154 | +€38,440 | +8.6% |
| Intangible fixed assets | 21 | €103,382 | €81,487 | -€21,895 | -21.2% |
| Tangible fixed assets | 22/27 | €327,675 | €388,010 | +€60,335 | +18.4% |
| Land and buildings | 22 | €155,941 | €249,809 | +€93,869 | +60.2% |
| Plant, machinery and equipment | 23 | €163,648 | €128,671 | -€34,977 | -21.4% |
| Furniture and vehicles | 24 | €6,587 | €9,530 | +€2,943 | +44.7% |
| Other tangible fixed assets | 26 | €1,500 | - | -€1,500 | |
| Financial fixed assets | 28 | €13,657 | €13,657 | = | 0.0% |
| Current assets | 29/58 | €888,269 | €1,217,178 | +€328,909 | +37.0% |
| Stocks and contracts in progress | 3 | €63,615 | €260,717 | +€197,102 | +310% |
| Stocks | 30/36 | €63,615 | €260,717 | +€197,102 | +310% |
| Amounts receivable within one year | 40/41 | €512,492 | €640,338 | +€127,846 | +24.9% |
| Trade receivables | 40 | €469,252 | €582,405 | +€113,153 | +24.1% |
| Other amounts receivable | 41 | €43,241 | €57,933 | +€14,693 | +34.0% |
| Cash at bank and in hand | 54/58 | €312,161 | €309,589 | -€2,572 | -0.8% |
| Deferred charges and accrued income | 490/1 | - | €6,533 | +€6,533 | |
| Total equity and liabilities | 10/49 | €1,332,983 | €1,700,332 | +€367,349 | +27.6% |
| Equity | 10/15 | €440,927 | €311,801 | -€129,127 | -29.3% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €9,143 | €9,143 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Legal reserve | 130 | €50 | €50 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,093 | €9,093 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,444 | €50,868 | -€124,575 | -71.0% |
| Investment grants | 15 | €8,447 | €3,896 | -€4,551 | -53.9% |
| Provisions and deferred taxes | 16 | €11,825 | €912 | -€10,912 | -92.3% |
| Provisions for liabilities and charges | 160/5 | €10,000 | - | -€10,000 | |
| Other liabilities and charges | 164/5 | €10,000 | - | -€10,000 | |
| Deferred taxes | 168 | €1,825 | €912 | -€912 | -50.0% |
| Amounts payable | 17/49 | €880,231 | €1,387,619 | +€507,388 | +57.6% |
| Amounts payable after more than one year | 17 | €303,163 | €598,873 | +€295,710 | +97.5% |
| Financial debts | 170/4 | €303,163 | €198,873 | -€104,290 | -34.4% |
| Trade debts | 175 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €577,068 | €788,746 | +€211,678 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €126,790 | €109,102 | -€17,688 | -14.0% |
| Trade debts | 44 | €297,245 | €534,954 | +€237,710 | +80.0% |
| Suppliers | 440/4 | €297,245 | €534,954 | +€237,710 | +80.0% |
| Taxes, remuneration and social security | 45 | €141,303 | €143,492 | +€2,190 | +1.5% |
| Taxes | 450/3 | €24,199 | €24,366 | +€167 | +0.7% |
| Remuneration and social security | 454/9 | €117,104 | €119,127 | +€2,023 | +1.7% |
| Other amounts payable | 47/48 | €11,731 | €1,198 | -€10,533 | -89.8% |
| Non-recurring operating income | 76A | €28,229 | - | -€28,229 | |
| Remuneration, social security and pensions | 62 | €894,576 | €827,835 | -€66,741 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,374 | €164,376 | +€14,002 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€30,000 | - | +€30,000 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€150,000 | -€10,000 | +€140,000 | +93.3% |
| Other operating charges | 640/8 | €11,241 | €11,284 | +€43 | +0.4% |
| Non-recurring operating charges | 66A | €1,608 | €398 | -€1,210 | -75.2% |
| Gross operating margin | 9900 | €937,035 | €863,546 | -€73,490 | -7.8% |
| Operating profit (loss) | 9901 | €59,236 | -€130,348 | -€189,584 | |
| Financial income | 75/76B | €67,327 | €13,326 | -€54,001 | -80.2% |
| Recurring financial income | 75 | €67,327 | €13,326 | -€54,001 | -80.2% |
| Financial charges | 65/66B | €15,835 | €8,434 | -€7,400 | -46.7% |
| Recurring financial charges | 65 | €15,835 | €8,434 | -€7,400 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €110,728 | -€125,457 | -€236,185 | |
| Transfer from deferred taxes | 780 | €912 | €912 | = | 0.0% |
| Income taxes | 67/77 | €33,163 | €4,582 | -€28,580 | -86.2% |
| Profit (loss) for the period | 9904 | €78,478 | -€129,127 | -€207,605 | |
| Transfer from tax-exempt reserves | 789 | €4,551 | €4,551 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,029 | -€124,575 | -€207,605 |
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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.