VNO Elektro: 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.
VNO Elektro
Largest movements
- Tangible fixed assets +€333,065
up €333,065 (+1,221%), from €27,279 to €360,344
of which Land and buildings: +€342,354
- Cash -€107,175
down €107,175 (-53.9%), from €198,899 to €91,724
mainly Investment in fixed assets (net) (-€351,639) and Receivables within one year (-€95,822)
- Receivables within one year +€95,822
up €95,822 (+250%), from €38,265 to €134,087
of which Other amounts receivable: +€69,225
- Deferred charges and accrued income +€10,557
up €10,557 (+13,029%), from €81 to €10,638
- Debts after one year +€286,804
new in 2025: €286,804
- Reserves +€43,959
up €43,959 (+25.6%), from €171,482 to €215,441
- Tax, wage and social debts -€17,856
down €17,856 (-39.9%), from €44,741 to €26,885
- Current portion of long-term debt +€15,649
new in 2025: €15,649
- Trade debts +€6,183
up €6,183 (+708%), from €873 to €7,056
- Gross operating margin -€55,639
down €55,639 (-40.6%), from €137,144 to €81,504
- Taxes -€12,057
down €12,057 (-44.8%), from €26,885 to €14,828
- Depreciation +€6,956
up €6,956 (+76.3%), from €9,119 to €16,075
- Financial charges +€5,405
up €5,405 (+10,000%), from €54 to €5,459
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 | €264,524 | €599,294 | +€334,769 | +127% |
| Fixed assets | 21/28 | €27,280 | €362,845 | +€335,565 | +1,230% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -33.3% |
| Tangible fixed assets | 22/27 | €27,279 | €360,344 | +€333,065 | +1,221% |
| Land and buildings | 22 | - | €342,354 | +€342,354 | |
| Plant, machinery and equipment | 23 | €5,341 | €2,946 | -€2,394 | -44.8% |
| Furniture and vehicles | 24 | €21,939 | €15,044 | -€6,895 | -31.4% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €237,245 | €236,449 | -€795 | -0.3% |
| Amounts receivable within one year | 40/41 | €38,265 | €134,087 | +€95,822 | +250% |
| Trade receivables | 40 | €36,025 | €62,622 | +€26,597 | +73.8% |
| Other amounts receivable | 41 | €2,240 | €71,465 | +€69,225 | +3,090% |
| Cash at bank and in hand | 54/58 | €198,899 | €91,724 | -€107,175 | -53.9% |
| Deferred charges and accrued income | 490/1 | €81 | €10,638 | +€10,557 | +13,029% |
| Total equity and liabilities | 10/49 | €264,524 | €599,294 | +€334,769 | +127% |
| Equity | 10/15 | €181,482 | €225,441 | +€43,959 | +24.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €171,482 | €215,441 | +€43,959 | +25.6% |
| Distributable reserves | 133 | €171,482 | €215,441 | +€43,959 | +25.6% |
| Amounts payable | 17/49 | €83,042 | €373,853 | +€290,811 | +350% |
| Amounts payable after more than one year | 17 | - | €286,804 | +€286,804 | |
| Financial debts | 170/4 | - | €286,804 | +€286,804 | |
| Amounts payable within one year | 42/48 | €83,042 | €87,049 | +€4,007 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | - | €15,649 | +€15,649 | |
| Trade debts | 44 | €873 | €7,056 | +€6,183 | +708% |
| Suppliers | 440/4 | €873 | €7,056 | +€6,183 | +708% |
| Taxes, remuneration and social security | 45 | €44,741 | €26,885 | -€17,856 | -39.9% |
| Taxes | 450/3 | €44,741 | €26,885 | -€17,856 | -39.9% |
| Other amounts payable | 47/48 | €37,428 | €37,460 | +€32 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,119 | €16,075 | +€6,956 | +76.3% |
| Other operating charges | 640/8 | €844 | €1,185 | +€341 | +40.4% |
| Gross operating margin | 9900 | €137,144 | €81,504 | -€55,639 | -40.6% |
| Operating profit (loss) | 9901 | €127,181 | €64,245 | -€62,936 | -49.5% |
| Financial income | 75/76B | €23 | €0 | -€23 | -99.9% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -99.9% |
| Financial charges | 65/66B | €54 | €5,459 | +€5,405 | +10,000% |
| Recurring financial charges | 65 | €54 | €5,459 | +€5,405 | +10,000% |
| Profit (loss) for the period before taxes | 9903 | €127,150 | €58,786 | -€68,363 | -53.8% |
| Income taxes | 67/77 | €26,885 | €14,828 | -€12,057 | -44.8% |
| Profit (loss) for the period | 9904 | €100,265 | €43,959 | -€56,306 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €100,265 | €43,959 | -€56,306 | -56.2% |
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 25 October 2026 via checked.be.