VDelec: 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.
VDelec
Largest movements
- Cash +€149,034
up €149,034 (+842%), from €17,702 to €166,736
mainly Receivables within one year (+€108,424) and Net result for the year (+€69,583)
- Receivables within one year -€108,424
down €108,424 (-83.9%), from €129,178 to €20,755
of which Trade receivables: -€106,309
- Tangible fixed assets -€23,103
down €23,103 (-17.0%), from €135,866 to €112,763
of which Furniture and vehicles: -€21,399
- Reserves +€69,583
up €69,583 (+71.0%), from €97,998 to €167,581
- Trade debts -€27,505
down €27,505 (-67.8%), from €40,553 to €13,049
- Debts after one year -€23,966
down €23,966 (-30.8%), from €77,838 to €53,872
- Other debts -€8,516
down €8,516 (-61.0%), from €13,964 to €5,448
- Tax, wage and social debts +€5,128
up €5,128 (+19.8%), from €25,908 to €31,036
- Gross operating margin +€34,170
up €34,170 (+37.0%), from €92,284 to €126,454
- Depreciation +€11,329
up €11,329 (+46.2%), from €24,540 to €35,869
- Taxes +€4,886
up €4,886 (+38.3%), from €12,770 to €17,655
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 | €284,414 | €300,587 | +€16,174 | +5.7% |
| Fixed assets | 21/28 | €137,533 | €113,097 | -€24,437 | -17.8% |
| Intangible fixed assets | 21 | €1,667 | €333 | -€1,333 | -80.0% |
| Tangible fixed assets | 22/27 | €135,866 | €112,763 | -€23,103 | -17.0% |
| Land and buildings | 22 | - | €3,577 | +€3,577 | |
| Plant, machinery and equipment | 23 | €25,018 | €19,737 | -€5,281 | -21.1% |
| Furniture and vehicles | 24 | €110,849 | €89,449 | -€21,399 | -19.3% |
| Current assets | 29/58 | €146,880 | €187,491 | +€40,610 | +27.6% |
| Amounts receivable within one year | 40/41 | €129,178 | €20,755 | -€108,424 | -83.9% |
| Trade receivables | 40 | €114,960 | €8,651 | -€106,309 | -92.5% |
| Other amounts receivable | 41 | €14,218 | €12,104 | -€2,115 | -14.9% |
| Cash at bank and in hand | 54/58 | €17,702 | €166,736 | +€149,034 | +842% |
| Total equity and liabilities | 10/49 | €284,414 | €300,587 | +€16,174 | +5.7% |
| Equity | 10/15 | €102,998 | €172,581 | +€69,583 | +67.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €97,998 | €167,581 | +€69,583 | +71.0% |
| Distributable reserves | 133 | €97,998 | €167,581 | +€69,583 | +71.0% |
| Amounts payable | 17/49 | €181,416 | €128,007 | -€53,409 | -29.4% |
| Amounts payable after more than one year | 17 | €77,838 | €53,872 | -€23,966 | -30.8% |
| Financial debts | 170/4 | €77,838 | €53,872 | -€23,966 | -30.8% |
| Amounts payable within one year | 42/48 | €103,577 | €74,135 | -€29,442 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €23,152 | €24,603 | +€1,451 | +6.3% |
| Trade debts | 44 | €40,553 | €13,049 | -€27,505 | -67.8% |
| Suppliers | 440/4 | €40,553 | €13,049 | -€27,505 | -67.8% |
| Taxes, remuneration and social security | 45 | €25,908 | €31,036 | +€5,128 | +19.8% |
| Taxes | 450/3 | €25,908 | €31,036 | +€5,128 | +19.8% |
| Other amounts payable | 47/48 | €13,964 | €5,448 | -€8,516 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,540 | €35,869 | +€11,329 | +46.2% |
| Other operating charges | 640/8 | €344 | €193 | -€151 | -43.8% |
| Gross operating margin | 9900 | €92,284 | €126,454 | +€34,170 | +37.0% |
| Operating profit (loss) | 9901 | €67,400 | €90,392 | +€22,992 | +34.1% |
| Financial income | 75/76B | €794 | - | -€794 | |
| Recurring financial income | 75 | €794 | - | -€794 | |
| Financial charges | 65/66B | €2,295 | €3,154 | +€859 | +37.4% |
| Recurring financial charges | 65 | €2,295 | €3,154 | +€859 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €65,899 | €87,238 | +€21,339 | +32.4% |
| Income taxes | 67/77 | €12,770 | €17,655 | +€4,886 | +38.3% |
| Profit (loss) for the period | 9904 | €53,130 | €69,583 | +€16,453 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,130 | €69,583 | +€16,453 | +31.0% |
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 14 October 2026 via checked.be.