VDG ÉLECTRICITÉ: 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.
VDG ÉLECTRICITÉ
Largest movements
- Intangible fixed assets -€25,000
down €25,000 (-12.5%), from €200,000 to €175,000
- Stocks and contracts -€13,343
down €13,343 (-100%), from €13,343 to €0
- Receivables within one year +€11,646
up €11,646 (+35.7%), from €32,631 to €44,277
of which Trade receivables: +€12,883
- Cash -€4,171
down €4,171 (-5.2%), from €80,153 to €75,982
mainly Debts after one year (-€63,079) and Trade debts (-€31,995)
- Deferred charges and accrued income +€3,915
up €3,915 (+194%), from €2,023 to €5,938
- Debts after one year -€63,079
down €63,079 (-27.3%), from €231,215 to €168,137
of which Other amounts payable: -€121,735
- Profit (loss) carried forward +€37,616
up €37,616 (+126%), from €29,808 to €67,423
- Trade debts -€31,995
down €31,995 (-80.7%), from €39,657 to €7,661
- Tax, wage and social debts +€15,757
up €15,757 (+51.9%), from €30,339 to €46,097
of which Taxes: +€13,281
- Current portion of long-term debt +€14,011
up €14,011 (+48.6%), from €28,842 to €42,853
- Gross operating margin +€60,252
up €60,252 (+31.0%), from €194,214 to €254,466
- Staff costs +€28,507
up €28,507 (+29.9%), from €95,414 to €123,921
- Write-downs +€14,108
new in 2025: €14,108
- Other operating charges +€5,225
up €5,225 (+255%), from €2,047 to €7,271
- Financial charges +€4,233
up €4,233 (+78.7%), from €5,379 to €9,612
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 | €370,561 | €345,121 | -€25,440 | -6.9% |
| Fixed assets | 21/28 | €242,411 | €218,924 | -€23,487 | -9.7% |
| Intangible fixed assets | 21 | €200,000 | €175,000 | -€25,000 | -12.5% |
| Tangible fixed assets | 22/27 | €42,411 | €43,924 | +€1,513 | +3.6% |
| Land and buildings | 22 | €360 | €240 | -€120 | -33.3% |
| Plant, machinery and equipment | 23 | €6,135 | €4,090 | -€2,045 | -33.3% |
| Furniture and vehicles | 24 | €26,914 | €14,382 | -€12,533 | -46.6% |
| Leasing and similar rights | 25 | €9,002 | €25,212 | +€16,211 | +180% |
| Current assets | 29/58 | €128,150 | €126,197 | -€1,953 | -1.5% |
| Stocks and contracts in progress | 3 | €13,343 | €0 | -€13,343 | -100% |
| Contracts in progress | 37 | €13,343 | €0 | -€13,343 | -100% |
| Amounts receivable within one year | 40/41 | €32,631 | €44,277 | +€11,646 | +35.7% |
| Trade receivables | 40 | €20,464 | €33,348 | +€12,883 | +63.0% |
| Other amounts receivable | 41 | €12,167 | €10,930 | -€1,237 | -10.2% |
| Cash at bank and in hand | 54/58 | €80,153 | €75,982 | -€4,171 | -5.2% |
| Deferred charges and accrued income | 490/1 | €2,023 | €5,938 | +€3,915 | +194% |
| Total equity and liabilities | 10/49 | €370,561 | €345,121 | -€25,440 | -6.9% |
| Equity | 10/15 | €39,808 | €77,423 | +€37,616 | +94.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,808 | €67,423 | +€37,616 | +126% |
| Amounts payable | 17/49 | €330,753 | €267,698 | -€63,055 | -19.1% |
| Amounts payable after more than one year | 17 | €231,215 | €168,137 | -€63,079 | -27.3% |
| Financial debts | 170/4 | €52,891 | €111,547 | +€58,657 | +111% |
| Other amounts payable | 178/9 | €178,325 | €56,589 | -€121,735 | -68.3% |
| Amounts payable within one year | 42/48 | €99,538 | €97,311 | -€2,226 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €28,842 | €42,853 | +€14,011 | +48.6% |
| Trade debts | 44 | €39,657 | €7,661 | -€31,995 | -80.7% |
| Suppliers | 440/4 | €39,657 | €7,661 | -€31,995 | -80.7% |
| Taxes, remuneration and social security | 45 | €30,339 | €46,097 | +€15,757 | +51.9% |
| Taxes | 450/3 | €10,729 | €24,010 | +€13,281 | +124% |
| Remuneration and social security | 454/9 | €19,610 | €22,087 | +€2,476 | +12.6% |
| Other amounts payable | 47/48 | €700 | €700 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €2,250 | +€2,250 | |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | - | €791 | +€791 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €95,414 | €123,921 | +€28,507 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,485 | €48,768 | -€2,717 | -5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,108 | +€14,108 | |
| Other operating charges | 640/8 | €2,047 | €7,271 | +€5,225 | +255% |
| Gross operating margin | 9900 | €194,214 | €254,466 | +€60,252 | +31.0% |
| Operating profit (loss) | 9901 | €45,268 | €60,397 | +€15,129 | +33.4% |
| Financial income | 75/76B | €5 | €17 | +€12 | +241% |
| Recurring financial income | 75 | €5 | €17 | +€12 | +241% |
| Financial charges | 65/66B | €5,379 | €9,612 | +€4,233 | +78.7% |
| Recurring financial charges | 65 | €5,379 | €9,612 | +€4,233 | +78.7% |
| Profit (loss) for the period before taxes | 9903 | €39,894 | €50,802 | +€10,908 | +27.3% |
| Income taxes | 67/77 | €9,594 | €12,186 | +€2,593 | +27.0% |
| Profit (loss) for the period | 9904 | €30,301 | €38,616 | +€8,315 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,301 | €38,616 | +€8,315 | +27.4% |
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.