VDS ELECTRONICS: 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
VDS ELECTRONICS
NACE 47.540, Retail sale of electrical household appliances
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7,594
2024 · €13,703-€6,109
Equity
€708,265
2024 · €830,404-€122,139
Cash
€112,857
2024 · €116,510-€3,653
Balance sheet total
€2.8m
2024 · €3.1m-€233,565
Largest movements
Assets
- Tangible fixed assets -€101,915
down €101,915 (-6.4%), from €1.6m to €1.5m
of which Land and buildings: -€59,207
- Receivables within one year -€72,294
down €72,294 (-92.6%), from €78,060 to €5,765
of which Trade receivables: -€52,424
- Stocks and contracts -€55,219
down €55,219 (-4.4%), from €1.3m to €1.2m
Equity and liabilities
- Reserves -€122,139
down €122,139 (-15.9%), from €768,404 to €646,265
of which Distributable reserves: -€122,139
- Debts after one year -€97,932
down €97,932 (-11.1%), from €879,295 to €781,362
- Current portion of long-term debt -€62,932
down €62,932 (-39.1%), from €160,864 to €97,932
- Other debts +€60,148
up €60,148 (+40.6%), from €148,120 to €208,268
- Trade debts -€35,402
down €35,402 (-7.7%), from €461,899 to €426,497
Income statement
- Gross operating margin -€37,797
down €37,797 (-3.4%), from €1.1m to €1.1m
- Depreciation -€35,802
down €35,802 (-25.1%), from €142,663 to €106,861
- Financial income -€14,368
down €14,368 (-22.7%), from €63,293 to €48,925
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
€13,703
Gross operating margin
-€37,797
Staff costs
+€7,739
Depreciation
+€35,802
Other operating charges
-€1,527
Other operating items
-€975
Financial income
-€14,368
Financial charges
+€2,906
Taxes
+€2,112
Result 2025
€7,594
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
+€290,490
Investment
-€3,546
Financing
-€290,597
Cash 2024
€116,510
From operations (derived)
+€290,490
Net result for the year
+€7,594
Depreciation
+€106,861
Stocks and contracts
+€55,219
Receivables within one year
+€72,294
Deferred charges and accrued income
-€916
Trade debts
-€35,402
Tax, wage and social debts
+€7,109
Advances received
+€21,338
Other debts
+€60,148
Accrued charges and deferred income
-€3,756
Investment (derived)
-€3,546
Investment in fixed assets (net)
-€3,546
Financing
-€290,597
Debts after one year
-€97,932
Current portion of long-term debt
-€62,932
Contributions, distributions and other
-€129,733
Cash 2025
€112,857
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,068,075 | €2,834,509 | -€233,565 | -7.6% |
| Fixed assets | 21/28 | €1,596,846 | €1,493,532 | -€103,315 | -6.5% |
| Tangible fixed assets | 22/27 | €1,586,022 | €1,484,107 | -€101,915 | -6.4% |
| Land and buildings | 22 | €1,399,942 | €1,340,735 | -€59,207 | -4.2% |
| Plant, machinery and equipment | 23 | €93,408 | €48,053 | -€45,355 | -48.6% |
| Furniture and vehicles | 24 | €92,672 | €95,319 | +€2,648 | +2.9% |
| Financial fixed assets | 28 | €10,825 | €9,425 | -€1,400 | -12.9% |
| Current assets | 29/58 | €1,471,228 | €1,340,978 | -€130,251 | -8.9% |
| Stocks and contracts in progress | 3 | €1,261,533 | €1,206,315 | -€55,219 | -4.4% |
| Stocks | 30/36 | €1,261,533 | €1,206,315 | -€55,219 | -4.4% |
| Amounts receivable within one year | 40/41 | €78,060 | €5,765 | -€72,294 | -92.6% |
| Trade receivables | 40 | €58,189 | €5,765 | -€52,424 | -90.1% |
| Other amounts receivable | 41 | €19,871 | €0 | -€19,871 | -100.0% |
| Cash at bank and in hand | 54/58 | €116,510 | €112,857 | -€3,653 | -3.1% |
| Deferred charges and accrued income | 490/1 | €15,125 | €16,041 | +€916 | +6.1% |
| Total equity and liabilities | 10/49 | €3,068,075 | €2,834,509 | -€233,565 | -7.6% |
| Equity | 10/15 | €830,404 | €708,265 | -€122,139 | -14.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €768,404 | €646,265 | -€122,139 | -15.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,595 | €26,595 | = | 0.0% |
| Distributable reserves | 133 | €735,609 | €613,470 | -€122,139 | -16.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,237,671 | €2,126,244 | -€111,426 | -5.0% |
| Amounts payable after more than one year | 17 | €879,295 | €781,362 | -€97,932 | -11.1% |
| Financial debts | 170/4 | €879,295 | €781,362 | -€97,932 | -11.1% |
| Amounts payable within one year | 42/48 | €1,353,320 | €1,343,582 | -€9,738 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €160,864 | €97,932 | -€62,932 | -39.1% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €461,899 | €426,497 | -€35,402 | -7.7% |
| Suppliers | 440/4 | €461,899 | €426,497 | -€35,402 | -7.7% |
| Advances received on contracts in progress | 46 | €1,857 | €23,195 | +€21,338 | +1149.1% |
| Taxes, remuneration and social security | 45 | €180,580 | €187,690 | +€7,109 | +3.9% |
| Taxes | 450/3 | €16,785 | €40,770 | +€23,985 | +142.9% |
| Remuneration and social security | 454/9 | €163,795 | €146,920 | -€16,875 | -10.3% |
| Other amounts payable | 47/48 | €148,120 | €208,268 | +€60,148 | +40.6% |
| Accrued charges and deferred income | 492/3 | €5,055 | €1,300 | -€3,756 | -74.3% |
| Non-recurring operating income | 76A | €0 | €4,462 | +€4,462 | |
| Remuneration, social security and pensions | 62 | €969,569 | €961,830 | -€7,739 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,663 | €106,861 | -€35,802 | -25.1% |
| Other operating charges | 640/8 | €13,999 | €15,526 | +€1,527 | +10.9% |
| Non-recurring operating charges | 66A | €0 | €975 | +€975 | |
| Gross operating margin | 9900 | €1,125,817 | €1,088,020 | -€37,797 | -3.4% |
| Operating profit (loss) | 9901 | -€413 | €2,828 | +€3,241 | |
| Financial income | 75/76B | €63,293 | €48,925 | -€14,368 | -22.7% |
| Recurring financial income | 75 | €63,293 | €48,925 | -€14,368 | -22.7% |
| Financial charges | 65/66B | €39,048 | €36,142 | -€2,906 | -7.4% |
| Recurring financial charges | 65 | €39,048 | €36,142 | -€2,906 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €23,832 | €15,611 | -€8,221 | -34.5% |
| Income taxes | 67/77 | €10,129 | €8,017 | -€2,112 | -20.9% |
| Profit (loss) for the period | 9904 | €13,703 | €7,594 | -€6,109 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,703 | €7,594 | -€6,109 | -44.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.