VAS Elektro: 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.
VAS Elektro
Largest movements
- Tangible fixed assets -€29,863
down €29,863 (-4.2%), from €714,566 to €684,702
of which Furniture and vehicles: -€28,252
- Receivables after one year -€22,000
no longer reported in 2025 (was €22,000)
- Receivables within one year +€13,467
up €13,467 (+4.3%), from €312,508 to €325,976
of which Trade receivables: +€52,474
- Other debts +€99,498
up €99,498 (+245%), from €40,636 to €140,134
- Trade debts -€70,249
down €70,249 (-29.8%), from €235,912 to €165,663
- Debts after one year -€47,924
down €47,924 (-9.6%), from €497,003 to €449,078
- Reserves -€47,773
down €47,773 (-15.5%), from €307,941 to €260,168
- Tax, wage and social debts +€28,676
up €28,676 (+108%), from €26,480 to €55,157
of which Taxes: +€25,885
- Gross operating margin +€154,098
up €154,098 (+30.6%), from €503,704 to €657,802
- Staff costs +€97,263
up €97,263 (+28.2%), from €344,418 to €441,681
- Taxes +€13,831
up €13,831 (+78.8%), from €17,544 to €31,375
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.
Derived cash bridge
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 | €1,177,487 | €1,139,124 | -€38,363 | -3.3% |
| Fixed assets | 21/28 | €714,566 | €684,702 | -€29,863 | -4.2% |
| Tangible fixed assets | 22/27 | €714,566 | €684,702 | -€29,863 | -4.2% |
| Land and buildings | 22 | €639,699 | €639,631 | -€68 | 0.0% |
| Plant, machinery and equipment | 23 | €14,735 | €13,191 | -€1,543 | -10.5% |
| Furniture and vehicles | 24 | €60,132 | €31,880 | -€28,252 | -47.0% |
| Current assets | 29/58 | €462,921 | €454,422 | -€8,500 | -1.8% |
| Amounts receivable after more than one year | 29 | €22,000 | - | -€22,000 | |
| Other amounts receivable | 291 | €22,000 | - | -€22,000 | |
| Stocks and contracts in progress | 3 | €5,108 | €4,166 | -€943 | -18.5% |
| Stocks | 30/36 | €5,108 | €4,166 | -€943 | -18.5% |
| Amounts receivable within one year | 40/41 | €312,508 | €325,976 | +€13,467 | +4.3% |
| Trade receivables | 40 | €243,568 | €296,042 | +€52,474 | +21.5% |
| Other amounts receivable | 41 | €68,940 | €29,934 | -€39,006 | -56.6% |
| Cash at bank and in hand | 54/58 | €122,678 | €119,979 | -€2,699 | -2.2% |
| Deferred charges and accrued income | 490/1 | €626 | €4,301 | +€3,674 | +587% |
| Total equity and liabilities | 10/49 | €1,177,487 | €1,139,124 | -€38,363 | -3.3% |
| Equity | 10/15 | €328,941 | €281,168 | -€47,773 | -14.5% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €307,941 | €260,168 | -€47,773 | -15.5% |
| Distributable reserves | 133 | €307,941 | €260,168 | -€47,773 | -15.5% |
| Amounts payable | 17/49 | €848,546 | €857,956 | +€9,410 | +1.1% |
| Amounts payable after more than one year | 17 | €497,003 | €449,078 | -€47,924 | -9.6% |
| Financial debts | 170/4 | €497,003 | €449,078 | -€47,924 | -9.6% |
| Amounts payable within one year | 42/48 | €351,543 | €408,878 | +€57,335 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €48,515 | €47,924 | -€591 | -1.2% |
| Trade debts | 44 | €235,912 | €165,663 | -€70,249 | -29.8% |
| Suppliers | 440/4 | €235,912 | €165,663 | -€70,249 | -29.8% |
| Taxes, remuneration and social security | 45 | €26,480 | €55,157 | +€28,676 | +108% |
| Taxes | 450/3 | €1,240 | €27,124 | +€25,885 | +2,088% |
| Remuneration and social security | 454/9 | €25,240 | €28,032 | +€2,792 | +11.1% |
| Other amounts payable | 47/48 | €40,636 | €140,134 | +€99,498 | +245% |
| Remuneration, social security and pensions | 62 | €344,418 | €441,681 | +€97,263 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,516 | €56,081 | -€4,435 | -7.3% |
| Other operating charges | 640/8 | €2,358 | €7,696 | +€5,338 | +226% |
| Gross operating margin | 9900 | €503,704 | €657,802 | +€154,098 | +30.6% |
| Operating profit (loss) | 9901 | €96,412 | €152,344 | +€55,932 | +58.0% |
| Financial income | 75/76B | €1,349 | €605 | -€744 | -55.1% |
| Recurring financial income | 75 | €1,349 | €605 | -€744 | -55.1% |
| Financial charges | 65/66B | €21,146 | €19,347 | -€1,800 | -8.5% |
| Recurring financial charges | 65 | €21,146 | €19,347 | -€1,800 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €76,615 | €133,602 | +€56,987 | +74.4% |
| Income taxes | 67/77 | €17,544 | €31,375 | +€13,831 | +78.8% |
| Profit (loss) for the period | 9904 | €59,071 | €102,227 | +€43,156 | +73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,071 | €102,227 | +€43,156 | +73.1% |
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 25 October 2026 via checked.be.