VDN 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.
VDN Electrics
Largest movements
- Tangible fixed assets -€18,489
down €18,489 (-24.1%), from €76,579 to €58,090
of which Furniture and vehicles: -€18,756
- Receivables within one year -€13,091
down €13,091 (-46.9%), from €27,939 to €14,848
of which Trade receivables: -€7,477
- Cash +€6,052
up €6,052 (+29.4%), from €20,615 to €26,668
mainly Depreciation (+€20,421) and Other debts (+€19,362)
- Stocks and contracts +€2,766
up €2,766, from €0 to €2,766
- Reserves -€32,658
down €32,658 (-62.1%), from €52,625 to €19,968
- Other debts +€19,362
up €19,362 (+8365.7%), from €231 to €19,593
- Debts after one year -€12,504
down €12,504 (-28.2%), from €44,411 to €31,907
- Tax, wage and social debts +€4,286
up €4,286 (+120.2%), from €3,565 to €7,851
of which Taxes: +€2,561
- Depreciation +€9,680
up €9,680 (+90.1%), from €10,742 to €20,421
- Gross operating margin -€7,339
down €7,339 (-20.9%), from €35,088 to €27,749
- Taxes -€3,005
down €3,005 (-62.3%), from €4,820 to €1,815
- Financial charges +€698
up €698 (+55.5%), from €1,259 to €1,957
- Other operating charges -€672
down €672 (-49.5%), from €1,357 to €685
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,558 | €107,204 | -€22,354 | -17.3% |
| Fixed assets | 21/28 | €76,579 | €58,090 | -€18,489 | -24.1% |
| Tangible fixed assets | 22/27 | €76,579 | €58,090 | -€18,489 | -24.1% |
| Plant, machinery and equipment | 23 | €402 | €669 | +€267 | +66.5% |
| Furniture and vehicles | 24 | €76,177 | €57,421 | -€18,756 | -24.6% |
| Current assets | 29/58 | €52,979 | €49,113 | -€3,865 | -7.3% |
| Stocks and contracts in progress | 3 | €0 | €2,766 | +€2,766 | |
| Stocks | 30/36 | €0 | €2,766 | +€2,766 | |
| Amounts receivable within one year | 40/41 | €27,939 | €14,848 | -€13,091 | -46.9% |
| Trade receivables | 40 | €19,135 | €11,658 | -€7,477 | -39.1% |
| Other amounts receivable | 41 | €8,804 | €3,190 | -€5,614 | -63.8% |
| Current investments | 50/53 | €3,450 | €4,180 | +€730 | +21.2% |
| Cash at bank and in hand | 54/58 | €20,615 | €26,668 | +€6,052 | +29.4% |
| Deferred charges and accrued income | 490/1 | €974 | €652 | -€322 | -33.1% |
| Total equity and liabilities | 10/49 | €129,558 | €107,204 | -€22,354 | -17.3% |
| Equity | 10/15 | €60,125 | €27,468 | -€32,658 | -54.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €52,625 | €19,968 | -€32,658 | -62.1% |
| Distributable reserves | 133 | €52,625 | €19,968 | -€32,658 | -62.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,432 | €79,736 | +€10,304 | +14.8% |
| Amounts payable after more than one year | 17 | €44,411 | €31,907 | -€12,504 | -28.2% |
| Financial debts | 170/4 | €44,411 | €31,907 | -€12,504 | -28.2% |
| Amounts payable within one year | 42/48 | €24,529 | €47,559 | +€23,030 | +93.9% |
| Current portion of amounts payable after more than one year | 42 | €12,590 | €12,504 | -€86 | -0.7% |
| Trade debts | 44 | €8,143 | €7,612 | -€531 | -6.5% |
| Suppliers | 440/4 | €8,143 | €7,612 | -€531 | -6.5% |
| Taxes, remuneration and social security | 45 | €3,565 | €7,851 | +€4,286 | +120.2% |
| Taxes | 450/3 | €717 | €3,277 | +€2,561 | +357.3% |
| Remuneration and social security | 454/9 | €2,848 | €4,573 | +€1,725 | +60.6% |
| Other amounts payable | 47/48 | €231 | €19,593 | +€19,362 | +8365.7% |
| Accrued charges and deferred income | 492/3 | €492 | €270 | -€222 | -45.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,742 | €20,421 | +€9,680 | +90.1% |
| Other operating charges | 640/8 | €1,357 | €685 | -€672 | -49.5% |
| Non-recurring operating charges | 66A | €2,343 | €0 | -€2,343 | -100.0% |
| Gross operating margin | 9900 | €35,088 | €27,749 | -€7,339 | -20.9% |
| Operating profit (loss) | 9901 | €20,647 | €6,643 | -€14,004 | -67.8% |
| Financial income | 75/76B | €114 | €354 | +€240 | +211.3% |
| Recurring financial income | 75 | €114 | €284 | +€170 | +149.4% |
| Non-recurring financial income | 76B | - | €70 | +€70 | |
| Financial charges | 65/66B | €1,259 | €1,957 | +€698 | +55.5% |
| Recurring financial charges | 65 | €1,259 | €1,957 | +€698 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | €19,502 | €5,040 | -€14,462 | -74.2% |
| Income taxes | 67/77 | €4,820 | €1,815 | -€3,005 | -62.3% |
| Profit (loss) for the period | 9904 | €14,681 | €3,225 | -€11,457 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,681 | €3,225 | -€11,457 | -78.0% |
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 10 October 2026 via checked.be.