Vestel 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.
Vestel Electrics
Largest movements
- Cash +€87,362
up €87,362 (+113%), from €77,369 to €164,731
mainly Net result for the year (+€138,788) and Trade debts (+€43,964)
- Receivables within one year +€36,756
up €36,756 (+53.1%), from €69,164 to €105,921
of which Trade receivables: +€67,798
- Tangible fixed assets +€28,010
up €28,010 (+9.5%), from €294,604 to €322,614
of which Furniture and vehicles: +€45,881
- Reserves +€122,485
up €122,485 (+32.3%), from €379,142 to €501,628
of which Distributable reserves: +€122,485
- Trade debts +€43,964
up €43,964 (+238%), from €18,471 to €62,435
- Debts after one year -€22,904
down €22,904 (-14.1%), from €162,247 to €139,343
- Gross operating margin +€128,057
up €128,057 (+54.7%), from €234,053 to €362,110
- Taxes +€30,697
up €30,697 (+85.9%), from €35,729 to €66,426
- Staff costs +€15,007
up €15,007 (+14.6%), from €103,008 to €118,015
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 | €611,687 | €757,043 | +€145,356 | +23.8% |
| Fixed assets | 21/28 | €294,604 | €322,614 | +€28,009 | +9.5% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -100% |
| Tangible fixed assets | 22/27 | €294,604 | €322,614 | +€28,010 | +9.5% |
| Land and buildings | 22 | €254,816 | €237,574 | -€17,241 | -6.8% |
| Plant, machinery and equipment | 23 | €1,747 | €1,117 | -€630 | -36.1% |
| Furniture and vehicles | 24 | €38,042 | €83,922 | +€45,881 | +121% |
| Current assets | 29/58 | €317,083 | €434,430 | +€117,346 | +37.0% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €40,550 | €33,778 | -€6,772 | -16.7% |
| Stocks | 30/36 | €40,550 | €33,778 | -€6,772 | -16.7% |
| Amounts receivable within one year | 40/41 | €69,164 | €105,921 | +€36,756 | +53.1% |
| Trade receivables | 40 | €18,608 | €86,407 | +€67,798 | +364% |
| Other amounts receivable | 41 | €50,556 | €19,514 | -€31,042 | -61.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €77,369 | €164,731 | +€87,362 | +113% |
| Total equity and liabilities | 10/49 | €611,687 | €757,043 | +€145,356 | +23.8% |
| Equity | 10/15 | €373,831 | €496,316 | +€122,485 | +32.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €379,142 | €501,628 | +€122,485 | +32.3% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €377,902 | €500,388 | +€122,485 | +32.4% |
| Profit (loss) carried forward | 14 | -€17,712 | -€17,712 | = | 0.0% |
| Amounts payable | 17/49 | €237,857 | €260,727 | +€22,871 | +9.6% |
| Amounts payable after more than one year | 17 | €162,247 | €139,343 | -€22,904 | -14.1% |
| Financial debts | 170/4 | €162,247 | €139,343 | -€22,904 | -14.1% |
| Amounts payable within one year | 42/48 | €73,609 | €119,384 | +€45,775 | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €26,901 | €22,904 | -€3,997 | -14.9% |
| Trade debts | 44 | €18,471 | €62,435 | +€43,964 | +238% |
| Suppliers | 440/4 | €18,471 | €62,435 | +€43,964 | +238% |
| Taxes, remuneration and social security | 45 | €28,237 | €32,680 | +€4,443 | +15.7% |
| Taxes | 450/3 | €18,697 | €16,426 | -€2,271 | -12.1% |
| Remuneration and social security | 454/9 | €9,540 | €16,253 | +€6,714 | +70.4% |
| Other amounts payable | 47/48 | €0 | €1,365 | +€1,365 | |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €103,008 | €118,015 | +€15,007 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,183 | €39,087 | -€96 | -0.2% |
| Other operating charges | 640/8 | €1,918 | €2,871 | +€953 | +49.7% |
| Gross operating margin | 9900 | €234,053 | €362,110 | +€128,057 | +54.7% |
| Operating profit (loss) | 9901 | €89,944 | €202,137 | +€112,193 | +125% |
| Financial income | 75/76B | €6,277 | €9,153 | +€2,876 | +45.8% |
| Recurring financial income | 75 | €6,277 | €9,153 | +€2,876 | +45.8% |
| Financial charges | 65/66B | €3,401 | €6,076 | +€2,674 | +78.6% |
| Recurring financial charges | 65 | €3,401 | €6,076 | +€2,674 | +78.6% |
| Profit (loss) for the period before taxes | 9903 | €92,819 | €205,215 | +€112,395 | +121% |
| Income taxes | 67/77 | €35,729 | €66,426 | +€30,697 | +85.9% |
| Profit (loss) for the period | 9904 | €57,090 | €138,788 | +€81,698 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €57,090 | €138,788 | +€81,698 | +143% |
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 27 October 2026 via checked.be.