VEKTRO: what changed
What changed
VEKTRO
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€127,041
2024 · €131,613-€4,572
Equity
€667,832
2024 · €622,091+€45,741
Cash
€114,018
2024 · €101,653+€12,365
Balance sheet total
€682,192
2024 · €634,791+€47,401
Largest movements
Assets
- Current investments +€25,000
up €25,000 (+5.1%), from €495,000 to €520,000
- Cash +€12,365
up €12,365 (+12.2%), from €101,653 to €114,018
mainly Net result for the year (+€127,041) and Depreciation (+€8,795)
- Receivables within one year +€7,779
up €7,779 (+157%), from €4,943 to €12,721
of which Trade receivables: +€4,810
Equity and liabilities
- Reserves +€45,741
up €45,741 (+8.4%), from €543,819 to €589,560
of which Distributable reserves: +€49,597
Income statement
- Gross operating margin -€5,732
down €5,732 (-2.6%), from €224,711 to €218,979
- Depreciation -€3,924
down €3,924 (-30.9%), from €12,720 to €8,795
- Staff costs +€3,384
up €3,384 (+10.0%), from €33,729 to €37,113
- Taxes -€3,301
down €3,301 (-5.5%), from €59,508 to €56,206
- Financial income -€2,346
down €2,346 (-16.0%), from €14,666 to €12,321
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€131,613
Gross operating margin
-€5,732
Staff costs
-€3,384
Depreciation
+€3,924
Other operating charges
+€48
Financial income
-€2,346
Financial charges
-€237
Taxes
+€3,301
Deferred taxes and other
-€146
Result 2025
€127,041
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€122,272
Investment
-€28,454
Financing
-€81,453
Cash 2024
€101,653
From operations (derived)
+€122,272
Net result for the year
+€127,041
Depreciation
+€8,795
Stocks and contracts
-€1,724
Receivables within one year
-€7,779
Deferred charges and accrued income
-€5,875
Smaller working-capital items
-€332
Trade debts
+€386
Tax, wage and social debts
+€778
Accrued charges and deferred income
+€981
Investment (derived)
-€28,454
Investment in fixed assets (net)
-€3,454
Current investments
-€25,000
Financing
-€81,453
Short-term financial debts
-€153
Contributions, distributions and other
-€81,300
Cash 2025
€114,018
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €634,791 | €682,192 | +€47,401 | +7.5% |
| Fixed assets | 21/28 | €12,308 | €6,968 | -€5,341 | -43.4% |
| Tangible fixed assets | 22/27 | €11,019 | €5,679 | -€5,341 | -48.5% |
| Plant, machinery and equipment | 23 | €1,558 | €802 | -€756 | -48.5% |
| Furniture and vehicles | 24 | €7,358 | €3,284 | -€4,075 | -55.4% |
| Other tangible fixed assets | 26 | €2,103 | €1,593 | -€510 | -24.3% |
| Financial fixed assets | 28 | €1,289 | €1,289 | = | 0.0% |
| Current assets | 29/58 | €622,482 | €675,224 | +€52,742 | +8.5% |
| Stocks and contracts in progress | 3 | €10,122 | €11,846 | +€1,724 | +17.0% |
| Stocks | 30/36 | €10,122 | €11,846 | +€1,724 | +17.0% |
| Amounts receivable within one year | 40/41 | €4,943 | €12,721 | +€7,779 | +157% |
| Trade receivables | 40 | €4,480 | €9,290 | +€4,810 | +107% |
| Other amounts receivable | 41 | €463 | €3,431 | +€2,968 | +641% |
| Current investments | 50/53 | €495,000 | €520,000 | +€25,000 | +5.1% |
| Cash at bank and in hand | 54/58 | €101,653 | €114,018 | +€12,365 | +12.2% |
| Deferred charges and accrued income | 490/1 | €10,764 | €16,639 | +€5,875 | +54.6% |
| Total equity and liabilities | 10/49 | €634,791 | €682,192 | +€47,401 | +7.5% |
| Equity | 10/15 | €622,091 | €667,832 | +€45,741 | +7.4% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €543,819 | €589,560 | +€45,741 | +8.4% |
| Non-distributable reserves | 130/1 | €11,607 | €8,607 | -€3,000 | -25.8% |
| Legal reserve | 130 | €11,607 | €8,607 | -€3,000 | -25.8% |
| Tax-exempt reserves | 132 | €1,040 | €184 | -€856 | -82.3% |
| Distributable reserves | 133 | €531,172 | €580,769 | +€49,597 | +9.3% |
| Profit (loss) carried forward | 14 | €3,904 | €3,904 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €214 | €0 | -€214 | -100% |
| Deferred taxes | 168 | €214 | €0 | -€214 | -100% |
| Amounts payable | 17/49 | €12,486 | €14,360 | +€1,874 | +15.0% |
| Amounts payable within one year | 42/48 | €9,718 | €10,610 | +€893 | +9.2% |
| Financial debts | 43 | €153 | €0 | -€153 | -100% |
| Credit institutions | 430/8 | €153 | €0 | -€153 | -100% |
| Trade debts | 44 | €565 | €951 | +€386 | +68.3% |
| Suppliers | 440/4 | €565 | €951 | +€386 | +68.3% |
| Taxes, remuneration and social security | 45 | €5,530 | €6,308 | +€778 | +14.1% |
| Taxes | 450/3 | €1,074 | €1,221 | +€147 | +13.7% |
| Remuneration and social security | 454/9 | €4,456 | €5,087 | +€631 | +14.2% |
| Other amounts payable | 47/48 | €3,470 | €3,352 | -€118 | -3.4% |
| Accrued charges and deferred income | 492/3 | €2,768 | €3,749 | +€981 | +35.5% |
| Remuneration, social security and pensions | 62 | €33,729 | €37,113 | +€3,384 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,720 | €8,795 | -€3,924 | -30.9% |
| Other operating charges | 640/8 | €1,850 | €1,802 | -€48 | -2.6% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €224,711 | €218,979 | -€5,732 | -2.6% |
| Operating profit (loss) | 9901 | €176,412 | €171,268 | -€5,144 | -2.9% |
| Financial income | 75/76B | €14,666 | €12,321 | -€2,346 | -16.0% |
| Recurring financial income | 75 | €14,666 | €12,321 | -€2,346 | -16.0% |
| Financial charges | 65/66B | €318 | €556 | +€237 | +74.6% |
| Recurring financial charges | 65 | €318 | €556 | +€237 | +74.6% |
| Profit (loss) for the period before taxes | 9903 | €190,760 | €183,033 | -€7,727 | -4.1% |
| Transfer from deferred taxes | 780 | €360 | €214 | -€146 | -40.6% |
| Income taxes | 67/77 | €59,508 | €56,206 | -€3,301 | -5.5% |
| Profit (loss) for the period | 9904 | €131,613 | €127,041 | -€4,572 | -3.5% |
| Transfer from tax-exempt reserves | 789 | €1,440 | €856 | -€584 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €133,053 | €127,897 | -€5,156 | -3.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.