VD CABLING: what changed
Two fiscal 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.
What changed
VD CABLING
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€113,286
2024 · €207,263-€93,976
Equity
€3.5m
2024 · €3.4m+€107,839
Cash
€761,290
2024 · €1.2m-€462,994
Balance sheet total
€10.1m
2024 · €9.6m+€540,338
Largest movements
Assets
- Receivables within one year +€2.1m
up €2.1m (+80.4%), from €2.6m to €4.7m
of which Trade receivables: +€2.1m
- Tangible fixed assets -€1.1m
down €1.1m (-29.1%), from €3.8m to €2.7m
of which Plant, machinery and equipment: -€1.3m
- Cash -€462,994
down €462,994 (-37.8%), from €1.2m to €761,290
mainly Receivables within one year (-€2.1m) and Trade debts (-€1.6m)
Equity and liabilities
- Trade debts -€1.6m
down €1.6m (-77.4%), from €2.0m to €454,185
- Other debts +€1.5m
up €1.5m (+975.3%), from €157,175 to €1.7m
- Tax, wage and social debts +€483,550
up €483,550 (+77.5%), from €624,080 to €1.1m
of which Remuneration and social security: +€288,988
- Provisions +€120,000
new in 2025: €120,000
- Profit (loss) carried forward +€113,286
up €113,286 (+3.6%), from €3.2m to €3.3m
Income statement
- Staff costs +€808,643
up €808,643 (+14.8%), from €5.5m to €6.3m
- Goods and materials -€715,256
down €715,256 (-41.4%), from €1.7m to €1.0m
- Turnover +€365,109
up €365,109 (+3.6%), from €10.3m to €10.6m
- Services and other goods +€247,246
up €247,246 (+12.1%), from €2.0m to €2.3m
- Provisions +€120,000
new in 2025: €120,000
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.
Result 2024
€207,263
Turnover
+€365,109
Other operating income
+€46,071
Goods and materials
+€715,256
Services and other goods
-€247,246
Staff costs
-€808,643
Depreciation
+€104,312
Write-downs
+€1,825
Provisions
-€120,000
Other operating charges
-€1,794
Other operating items
-€106,791
Financial income
+€1,064
Financial charges
-€65,721
Taxes
+€22,582
Result 2025
€113,286
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.
From operations
-€765,243
Investment
+€448,511
Financing
-€146,262
Cash 2024
€1.2m
From operations (derived)
-€765,243
Net result for the year
+€113,286
Depreciation
+€652,563
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€16,708
Provisions
+€120,000
Trade debts
-€1.6m
Tax, wage and social debts
+€483,550
Other debts
+€1.5m
Accrued charges and deferred income
-€5,145
Investment (derived)
+€448,511
Investment in fixed assets (net)
+€448,511
Financing
-€146,262
Debts after one year
-€106,904
Current portion of long-term debt
-€33,911
Contributions, distributions and other
-€5,447
Cash 2025
€761,290
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,564,288 | €10,104,626 | +€540,338 | +5.6% |
| Fixed assets | 21/28 | €5,654,534 | €4,553,461 | -€1.1m | -19.5% |
| Tangible fixed assets | 22/27 | €3,781,393 | €2,680,270 | -€1.1m | -29.1% |
| Land and buildings | 22 | €1,017,932 | €930,705 | -€87,228 | -8.6% |
| Plant, machinery and equipment | 23 | €1,265,827 | €1,169 | -€1.3m | -99.9% |
| Furniture and vehicles | 24 | €504,602 | €649,147 | +€144,545 | +28.6% |
| Leasing and similar rights | 25 | €993,031 | €1,099,249 | +€106,218 | +10.7% |
| Financial fixed assets | 28 | €1,873,141 | €1,873,191 | +€50 | 0.0% |
| Affiliated companies | 280/1 | €1,723,727 | €1,723,727 | = | 0.0% |
| Participating interests | 280 | €1,723,727 | €1,723,727 | = | 0.0% |
| Other financial fixed assets | 284/8 | €149,415 | €149,464 | +€50 | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €149,415 | €149,464 | +€50 | 0.0% |
| Current assets | 29/58 | €3,909,753 | €5,551,165 | +€1.6m | +42.0% |
| Amounts receivable within one year | 40/41 | €2,595,291 | €4,682,990 | +€2.1m | +80.4% |
| Trade receivables | 40 | €2,154,614 | €4,224,531 | +€2.1m | +96.1% |
| Other amounts receivable | 41 | €440,678 | €458,459 | +€17,781 | +4.0% |
| Cash at bank and in hand | 54/58 | €1,224,284 | €761,290 | -€462,994 | -37.8% |
| Deferred charges and accrued income | 490/1 | €90,178 | €106,886 | +€16,708 | +18.5% |
| Total equity and liabilities | 10/49 | €9,564,288 | €10,104,626 | +€540,338 | +5.6% |
| Equity | 10/15 | €3,363,400 | €3,471,239 | +€107,839 | +3.2% |
| Contributions | 10/11 | €79,800 | €79,800 | = | 0.0% |
| Capital | 10 | €79,800 | €79,800 | = | 0.0% |
| Issued capital | 100 | €79,800 | €79,800 | = | 0.0% |
| Reserves | 13 | €45,504 | €45,504 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,980 | €7,980 | = | 0.0% |
| Legal reserve | 130 | €7,980 | €7,980 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,524 | €37,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,179,209 | €3,292,495 | +€113,286 | +3.6% |
| Investment grants | 15 | €58,886 | €53,439 | -€5,447 | -9.3% |
| Provisions and deferred taxes | 16 | - | €120,000 | +€120,000 | |
| Provisions for liabilities and charges | 160/5 | - | €120,000 | +€120,000 | |
| Other liabilities and charges | 164/5 | - | €120,000 | +€120,000 | |
| Amounts payable | 17/49 | €6,200,888 | €6,513,387 | +€312,499 | +5.0% |
| Amounts payable after more than one year | 17 | €1,543,428 | €1,436,524 | -€106,904 | -6.9% |
| Financial debts | 170/4 | €1,541,828 | €1,435,124 | -€106,704 | -6.9% |
| Leasing and similar obligations | 172 | €675,699 | €704,049 | +€28,350 | +4.2% |
| Credit institutions | 173 | €866,129 | €731,075 | -€135,054 | -15.6% |
| Other amounts payable | 178/9 | €1,600 | €1,400 | -€200 | -12.5% |
| Amounts payable within one year | 42/48 | €4,649,506 | €5,074,054 | +€424,548 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €856,127 | €822,216 | -€33,911 | -4.0% |
| Financial debts | 43 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €2,012,124 | €454,185 | -€1.6m | -77.4% |
| Suppliers | 440/4 | €2,012,124 | €454,185 | -€1.6m | -77.4% |
| Taxes, remuneration and social security | 45 | €624,080 | €1,107,630 | +€483,550 | +77.5% |
| Taxes | 450/3 | €35,758 | €230,320 | +€194,562 | +544.1% |
| Remuneration and social security | 454/9 | €588,322 | €877,309 | +€288,988 | +49.1% |
| Other amounts payable | 47/48 | €157,175 | €1,690,022 | +€1.5m | +975.3% |
| Accrued charges and deferred income | 492/3 | €7,954 | €2,809 | -€5,145 | -64.7% |
| Operating income | 70/76A | €10,600,236 | €11,031,941 | +€431,704 | +4.1% |
| Turnover | 70 | €10,280,628 | €10,645,736 | +€365,109 | +3.6% |
| Other operating income | 74 | €305,549 | €351,619 | +€46,071 | +15.1% |
| Non-recurring operating income | 76A | €14,060 | €34,585 | +€20,525 | +146.0% |
| Operating charges | 60/66A | €10,205,291 | €10,688,897 | +€483,606 | +4.7% |
| Goods for resale, raw materials and consumables | 60 | €1,726,760 | €1,011,504 | -€715,256 | -41.4% |
| Purchases | 600/8 | €1,726,760 | €1,011,504 | -€715,256 | -41.4% |
| Services and other goods | 61 | €2,036,978 | €2,284,224 | +€247,246 | +12.1% |
| Remuneration, social security and pensions | 62 | €5,461,190 | €6,269,833 | +€808,643 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €756,875 | €652,563 | -€104,312 | -13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,811 | €54,985 | -€1,825 | -3.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €120,000 | +€120,000 | |
| Other operating charges | 640/8 | €55,387 | €57,181 | +€1,794 | +3.2% |
| Non-recurring operating charges | 66A | €111,290 | €238,606 | +€127,316 | +114.4% |
| Operating profit (loss) | 9901 | €394,946 | €343,044 | -€51,902 | -13.1% |
| Financial income | 75/76B | €27,295 | €28,360 | +€1,064 | +3.9% |
| Recurring financial income | 75 | €24,666 | €28,360 | +€3,694 | +15.0% |
| Other financial income | 752/9 | €24,666 | €28,360 | +€3,694 | +15.0% |
| Non-recurring financial income | 76B | €2,630 | - | -€2,630 | |
| Financial charges | 65/66B | €106,065 | €171,785 | +€65,721 | +62.0% |
| Recurring financial charges | 65 | €106,065 | €171,785 | +€65,721 | +62.0% |
| Debt charges | 650 | €161,478 | €154,368 | -€7,109 | -4.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€62,147 | - | +€62,147 | |
| Other financial charges | 652/9 | €6,734 | €17,417 | +€10,683 | +158.6% |
| Profit (loss) for the period before taxes | 9903 | €316,176 | €199,618 | -€116,558 | -36.9% |
| Income taxes | 67/77 | €108,914 | €86,332 | -€22,582 | -20.7% |
| Taxes | 670/3 | €108,914 | €86,332 | -€22,582 | -20.7% |
| Profit (loss) for the period | 9904 | €207,263 | €113,286 | -€93,976 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €207,263 | €113,286 | -€93,976 | -45.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.