VDM ELECTRICS: 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.
VDM ELECTRICS
Largest movements
- Cash +€157,868
up €157,868 (+108%), from €146,645 to €304,513
mainly Receivables within one year (+€67,698) and Investment in fixed assets (net) (+€44,734)
- Tangible fixed assets -€71,044
down €71,044 (-20.3%), from €349,982 to €278,938
of which Furniture and vehicles: -€60,923
- Receivables within one year -€67,698
down €67,698 (-67.0%), from €101,006 to €33,308
of which Trade receivables: -€59,307
- Stocks and contracts +€23,402
up €23,402 (+161%), from €14,560 to €37,961
- Reserves +€39,433
up €39,433 (+10.8%), from €366,178 to €405,612
- Trade debts +€24,611
up €24,611 (+115%), from €21,446 to €46,057
- Debts after one year -€10,670
down €10,670 (-5.8%), from €184,737 to €174,067
- Advances received -€7,302
down €7,302 (-57.5%), from €12,703 to €5,401
- Gross operating margin -€15,076
down €15,076 (-14.4%), from €104,469 to €89,393
- Depreciation -€6,911
down €6,911 (-20.8%), from €33,220 to €26,309
- Write-downs -€6,654
down €6,654 (-84.2%), from €7,904 to €1,251
- Other operating charges +€1,476
up €1,476 (+93.8%), from €1,574 to €3,050
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 | €616,537 | €661,128 | +€44,592 | +7.2% |
| Fixed assets | 21/28 | €350,942 | €279,898 | -€71,044 | -20.2% |
| Tangible fixed assets | 22/27 | €349,982 | €278,938 | -€71,044 | -20.3% |
| Land and buildings | 22 | €268,388 | €259,684 | -€8,705 | -3.2% |
| Plant, machinery and equipment | 23 | €3,029 | €1,613 | -€1,416 | -46.8% |
| Furniture and vehicles | 24 | €78,564 | €17,641 | -€60,923 | -77.5% |
| Financial fixed assets | 28 | €960 | €960 | = | 0.0% |
| Current assets | 29/58 | €265,595 | €381,231 | +€115,636 | +43.5% |
| Stocks and contracts in progress | 3 | €14,560 | €37,961 | +€23,402 | +161% |
| Stocks | 30/36 | €14,560 | €37,961 | +€23,402 | +161% |
| Amounts receivable within one year | 40/41 | €101,006 | €33,308 | -€67,698 | -67.0% |
| Trade receivables | 40 | €85,195 | €25,888 | -€59,307 | -69.6% |
| Other amounts receivable | 41 | €15,811 | €7,420 | -€8,392 | -53.1% |
| Cash at bank and in hand | 54/58 | €146,645 | €304,513 | +€157,868 | +108% |
| Deferred charges and accrued income | 490/1 | €3,384 | €5,449 | +€2,064 | +61.0% |
| Total equity and liabilities | 10/49 | €616,537 | €661,128 | +€44,592 | +7.2% |
| Equity | 10/15 | €378,578 | €418,012 | +€39,433 | +10.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €366,178 | €405,612 | +€39,433 | +10.8% |
| Distributable reserves | 133 | €366,178 | €405,612 | +€39,433 | +10.8% |
| Amounts payable | 17/49 | €237,958 | €243,117 | +€5,158 | +2.2% |
| Amounts payable after more than one year | 17 | €184,737 | €174,067 | -€10,670 | -5.8% |
| Financial debts | 170/4 | €184,737 | €174,067 | -€10,670 | -5.8% |
| Amounts payable within one year | 42/48 | €53,221 | €69,050 | +€15,829 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €16,050 | €10,670 | -€5,380 | -33.5% |
| Trade debts | 44 | €21,446 | €46,057 | +€24,611 | +115% |
| Suppliers | 440/4 | €21,446 | €46,057 | +€24,611 | +115% |
| Advances received on contracts in progress | 46 | €12,703 | €5,401 | -€7,302 | -57.5% |
| Taxes, remuneration and social security | 45 | €2,189 | €6,822 | +€4,633 | +212% |
| Taxes | 450/3 | - | €2,443 | +€2,443 | |
| Remuneration and social security | 454/9 | €2,189 | €4,379 | +€2,189 | +100% |
| Other amounts payable | 47/48 | €833 | €99 | -€734 | -88.1% |
| Non-recurring operating income | 76A | - | €7,516 | +€7,516 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,220 | €26,309 | -€6,911 | -20.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,904 | €1,251 | -€6,654 | -84.2% |
| Other operating charges | 640/8 | €1,574 | €3,050 | +€1,476 | +93.8% |
| Non-recurring operating charges | 66A | €5,629 | - | -€5,629 | |
| Gross operating margin | 9900 | €104,469 | €89,393 | -€15,076 | -14.4% |
| Operating profit (loss) | 9901 | €56,142 | €58,783 | +€2,641 | +4.7% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €6,966 | €7,522 | +€556 | +8.0% |
| Recurring financial charges | 65 | €6,966 | €7,522 | +€556 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €49,187 | €51,261 | +€2,074 | +4.2% |
| Income taxes | 67/77 | €11,382 | €11,828 | +€446 | +3.9% |
| Profit (loss) for the period | 9904 | €37,805 | €39,433 | +€1,628 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,805 | €39,433 | +€1,628 | +4.3% |
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.