VNH ELEC: 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.
VNH ELEC
Largest movements
- Receivables within one year +€15,946
up €15,946 (+343%), from €4,650 to €20,596
of which Trade receivables: +€13,789
- Tangible fixed assets +€9,029
up €9,029 (+80.0%), from €11,290 to €20,319
- Cash +€3,213
up €3,213 (+23.0%), from €13,954 to €17,167
mainly Trade debts (+€31,840) and Depreciation (+€4,971)
- Deferred charges and accrued income +€2,135
up €2,135 (+2,232%), from €96 to €2,230
- Trade debts +€31,840
up €31,840 (+178%), from €17,876 to €49,716
- Other debts -€6,594
down €6,594 (-99.6%), from €6,619 to €25
- Tax, wage and social debts +€2,362
new in 2025: €2,362
- Current portion of long-term debt +€1,682
new in 2025: €1,682
- Profit (loss) carried forward +€1,479
up €1,479 (+72.2%), from €2,048 to €3,527
- Turnover +€181,408
up €181,408 (+402%), from €45,102 to €226,510
- Purchases and services +€149,665
up €149,665 (+414%), from €36,116 to €185,781
- Gross operating margin +€31,743
up €31,743 (+353%), from €8,986 to €40,728
- Staff costs +€20,981
up €20,981 (+313%), from €6,694 to €27,675
- Taxes +€5,412
new in 2025: €5,412
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 | €29,990 | €60,312 | +€30,323 | +101% |
| Fixed assets | 21/28 | €11,290 | €20,319 | +€9,029 | +80.0% |
| Tangible fixed assets | 22/27 | €11,290 | €20,319 | +€9,029 | +80.0% |
| Furniture and vehicles | 24 | €11,290 | €20,319 | +€9,029 | +80.0% |
| Current assets | 29/58 | €18,700 | €39,994 | +€21,294 | +114% |
| Amounts receivable within one year | 40/41 | €4,650 | €20,596 | +€15,946 | +343% |
| Trade receivables | 40 | - | €13,789 | +€13,789 | |
| Other amounts receivable | 41 | €4,650 | €6,807 | +€2,157 | +46.4% |
| Cash at bank and in hand | 54/58 | €13,954 | €17,167 | +€3,213 | +23.0% |
| Deferred charges and accrued income | 490/1 | €96 | €2,230 | +€2,135 | +2,232% |
| Total equity and liabilities | 10/49 | €29,990 | €60,312 | +€30,323 | +101% |
| Equity | 10/15 | €5,048 | €6,527 | +€1,479 | +29.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,048 | €3,527 | +€1,479 | +72.2% |
| Amounts payable | 17/49 | €24,942 | €53,785 | +€28,844 | +116% |
| Amounts payable within one year | 42/48 | €24,495 | €53,785 | +€29,290 | +120% |
| Current portion of amounts payable after more than one year | 42 | - | €1,682 | +€1,682 | |
| Trade debts | 44 | €17,876 | €49,716 | +€31,840 | +178% |
| Suppliers | 440/4 | €17,876 | €49,716 | +€31,840 | +178% |
| Taxes, remuneration and social security | 45 | - | €2,362 | +€2,362 | |
| Remuneration and social security | 454/9 | - | €2,362 | +€2,362 | |
| Other amounts payable | 47/48 | €6,619 | €25 | -€6,594 | -99.6% |
| Accrued charges and deferred income | 492/3 | €446 | - | -€446 | |
| Turnover | 70 | €45,102 | €226,510 | +€181,408 | +402% |
| Goods, raw materials, services and sundry goods | 60/61 | €36,116 | €185,781 | +€149,665 | +414% |
| Remuneration, social security and pensions | 62 | €6,694 | €27,675 | +€20,981 | +313% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €4,971 | +€4,261 | +600% |
| Other operating charges | 640/8 | €32 | €1,029 | +€997 | +3,127% |
| Gross operating margin | 9900 | €8,986 | €40,728 | +€31,743 | +353% |
| Operating profit (loss) | 9901 | €1,549 | €7,054 | +€5,504 | +355% |
| Financial income | 75/76B | €512 | - | -€512 | |
| Recurring financial income | 75 | €512 | - | -€512 | |
| Financial charges | 65/66B | €13 | €162 | +€149 | +1,120% |
| Recurring financial charges | 65 | €13 | €162 | +€149 | +1,120% |
| Profit (loss) for the period before taxes | 9903 | €2,048 | €6,891 | +€4,844 | +237% |
| Income taxes | 67/77 | - | €5,412 | +€5,412 | |
| Profit (loss) for the period | 9904 | €2,048 | €1,479 | -€569 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,048 | €1,479 | -€569 | -27.8% |
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 28 October 2026 via checked.be.