AL VEL: 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.
AL VEL
Largest movements
- Tangible fixed assets +€34,647
up €34,647 (+1,244%), from €2,786 to €37,433
of which Furniture and vehicles: +€34,748
- Cash -€12,307
down €12,307 (-69.6%), from €17,691 to €5,384
mainly Investment in fixed assets (net) (-€34,748) and Tax, wage and social debts (-€4,876)
- Receivables within one year +€1,721
up €1,721 (+98.6%), from €1,746 to €3,467
- Deferred charges and accrued income -€1,170
down €1,170 (-81.3%), from €1,440 to €270
- Stocks and contracts +€1,165
up €1,165 (+4.2%), from €27,837 to €29,002
- Debts after one year +€22,013
new in 2025: €22,013
- Current portion of long-term debt +€6,069
new in 2025: €6,069
- Tax, wage and social debts -€4,876
down €4,876 (-55.8%), from €8,740 to €3,864
of which Taxes: -€5,109
- Reserves +€4,130
up €4,130 (+87.3%), from €4,730 to €8,860
of which Distributable reserves: +€4,130
- Trade debts -€2,701
down €2,701 (-8.7%), from €31,022 to €28,321
- Gross operating margin -€8,124
down €8,124 (-45.5%), from €17,862 to €9,738
- Taxes -€2,246
down €2,246 (-64.4%), from €3,489 to €1,243
- Staff costs +€1,817
new in 2025: €1,817
- Financial charges +€782
up €782 (+146%), from €537 to €1,319
- Other operating charges -€523
down €523 (-36.7%), from €1,427 to €904
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 | €51,500 | €75,556 | +€24,056 | +46.7% |
| Fixed assets | 21/28 | €2,786 | €37,433 | +€34,647 | +1,244% |
| Tangible fixed assets | 22/27 | €2,786 | €37,433 | +€34,647 | +1,244% |
| Furniture and vehicles | 24 | - | €34,748 | +€34,748 | |
| Other tangible fixed assets | 26 | €2,786 | €2,685 | -€101 | -3.6% |
| Current assets | 29/58 | €48,714 | €38,123 | -€10,591 | -21.7% |
| Stocks and contracts in progress | 3 | €27,837 | €29,002 | +€1,165 | +4.2% |
| Stocks | 30/36 | €27,837 | €29,002 | +€1,165 | +4.2% |
| Amounts receivable within one year | 40/41 | €1,746 | €3,467 | +€1,721 | +98.6% |
| Other amounts receivable | 41 | €1,746 | €3,467 | +€1,721 | +98.6% |
| Cash at bank and in hand | 54/58 | €17,691 | €5,384 | -€12,307 | -69.6% |
| Deferred charges and accrued income | 490/1 | €1,440 | €270 | -€1,170 | -81.3% |
| Total equity and liabilities | 10/49 | €51,500 | €75,556 | +€24,056 | +46.7% |
| Equity | 10/15 | €10,930 | €15,289 | +€4,359 | +39.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,730 | €8,860 | +€4,130 | +87.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,870 | €7,000 | +€4,130 | +144% |
| Profit (loss) carried forward | 14 | - | €229 | +€229 | |
| Amounts payable | 17/49 | €40,570 | €60,267 | +€19,697 | +48.6% |
| Amounts payable after more than one year | 17 | - | €22,013 | +€22,013 | |
| Financial debts | 170/4 | - | €22,013 | +€22,013 | |
| Amounts payable within one year | 42/48 | €39,907 | €38,254 | -€1,653 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,069 | +€6,069 | |
| Trade debts | 44 | €31,022 | €28,321 | -€2,701 | -8.7% |
| Suppliers | 440/4 | €31,022 | €28,321 | -€2,701 | -8.7% |
| Taxes, remuneration and social security | 45 | €8,740 | €3,864 | -€4,876 | -55.8% |
| Taxes | 450/3 | €8,740 | €3,631 | -€5,109 | -58.5% |
| Remuneration and social security | 454/9 | - | €233 | +€233 | |
| Other amounts payable | 47/48 | €145 | - | -€145 | |
| Accrued charges and deferred income | 492/3 | €663 | - | -€663 | |
| Non-recurring operating income | 76A | €1,200 | - | -€1,200 | |
| Remuneration, social security and pensions | 62 | - | €1,817 | +€1,817 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404 | €101 | -€303 | -75.0% |
| Other operating charges | 640/8 | €1,427 | €904 | -€523 | -36.7% |
| Gross operating margin | 9900 | €17,862 | €9,738 | -€8,124 | -45.5% |
| Operating profit (loss) | 9901 | €16,031 | €6,916 | -€9,115 | -56.9% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €537 | €1,319 | +€782 | +146% |
| Recurring financial charges | 65 | €537 | €1,319 | +€782 | +146% |
| Profit (loss) for the period before taxes | 9903 | €15,494 | €5,602 | -€9,892 | -63.8% |
| Income taxes | 67/77 | €3,489 | €1,243 | -€2,246 | -64.4% |
| Profit (loss) for the period | 9904 | €12,005 | €4,359 | -€7,646 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,005 | €4,359 | -€7,646 | -63.7% |
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 23 October 2026 via checked.be.