ASINCO & VELLUT: 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.
ASINCO & VELLUT
Largest movements
- Current investments +€450,000
new in 2025: €450,000
- Cash -€123,722
down €123,722 (-60.9%), from €203,231 to €79,509
mainly Current investments (-€450,000) and Investment in fixed assets (net) (-€85,772)
- Tangible fixed assets -€19,887
down €19,887 (-2.3%), from €868,714 to €848,827
of which Land and buildings: -€23,632
- Reserves +€265,702
up €265,702 (+30.9%), from €859,967 to €1.1m
of which Tax-exempt reserves: +€255,104
- Tax, wage and social debts +€37,404
up €37,404 (+150%), from €25,000 to €62,404
of which Taxes: +€37,404
- Gross operating margin +€279,725
up €279,725 (+121%), from €231,595 to €511,320
- Taxes +€81,334
up €81,334 (+234%), from €34,820 to €116,154
- Depreciation -€8,350
down €8,350 (-7.3%), from €114,009 to €105,659
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 | €1,132,584 | €1,439,545 | +€306,961 | +27.1% |
| Fixed assets | 21/28 | €868,714 | €848,827 | -€19,887 | -2.3% |
| Tangible fixed assets | 22/27 | €868,714 | €848,827 | -€19,887 | -2.3% |
| Land and buildings | 22 | €856,002 | €832,370 | -€23,632 | -2.8% |
| Furniture and vehicles | 24 | €12,712 | €16,457 | +€3,745 | +29.5% |
| Current assets | 29/58 | €263,870 | €590,718 | +€326,848 | +124% |
| Amounts receivable within one year | 40/41 | €60,639 | €61,209 | +€570 | +0.9% |
| Trade receivables | 40 | €10,409 | €9,729 | -€680 | -6.5% |
| Other amounts receivable | 41 | €50,230 | €51,480 | +€1,250 | +2.5% |
| Current investments | 50/53 | - | €450,000 | +€450,000 | |
| Cash at bank and in hand | 54/58 | €203,231 | €79,509 | -€123,722 | -60.9% |
| Total equity and liabilities | 10/49 | €1,132,584 | €1,439,545 | +€306,961 | +27.1% |
| Equity | 10/15 | €1,071,940 | €1,337,642 | +€265,702 | +24.8% |
| Contributions | 10/11 | €211,973 | €211,973 | = | 0.0% |
| Capital | 10 | €211,973 | €211,973 | = | 0.0% |
| Issued capital | 100 | €211,973 | €211,973 | = | 0.0% |
| Reserves | 13 | €859,967 | €1,125,669 | +€265,702 | +30.9% |
| Non-distributable reserves | 130/1 | €10,599 | €21,197 | +€10,598 | +100.0% |
| Legal reserve | 130 | €10,599 | €21,197 | +€10,598 | +100.0% |
| Tax-exempt reserves | 132 | €170,566 | €425,670 | +€255,104 | +150% |
| Distributable reserves | 133 | €678,802 | €678,802 | = | 0.0% |
| Amounts payable | 17/49 | €60,644 | €101,903 | +€41,259 | +68.0% |
| Amounts payable within one year | 42/48 | €60,644 | €100,777 | +€40,133 | +66.2% |
| Current portion of amounts payable after more than one year | 42 | €35,489 | €38,191 | +€2,702 | +7.6% |
| Trade debts | 44 | €155 | €182 | +€27 | +17.4% |
| Suppliers | 440/4 | €155 | €182 | +€27 | +17.4% |
| Taxes, remuneration and social security | 45 | €25,000 | €62,404 | +€37,404 | +150% |
| Taxes | 450/3 | €5,000 | €42,404 | +€37,404 | +748% |
| Remuneration and social security | 454/9 | €20,000 | €20,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,126 | +€1,126 | |
| Non-recurring operating income | 76A | - | €293,207 | +€293,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,009 | €105,659 | -€8,350 | -7.3% |
| Other operating charges | 640/8 | €29,335 | €25,724 | -€3,611 | -12.3% |
| Gross operating margin | 9900 | €231,595 | €511,320 | +€279,725 | +121% |
| Operating profit (loss) | 9901 | €88,251 | €379,937 | +€291,686 | +331% |
| Financial income | 75/76B | - | €2,411 | +€2,411 | |
| Recurring financial income | 75 | - | €2,411 | +€2,411 | |
| Financial charges | 65/66B | €419 | €491 | +€72 | +17.2% |
| Recurring financial charges | 65 | €419 | €491 | +€72 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €87,832 | €381,857 | +€294,025 | +335% |
| Income taxes | 67/77 | €34,820 | €116,154 | +€81,334 | +234% |
| Profit (loss) for the period | 9904 | €53,012 | €265,703 | +€212,691 | +401% |
| Profit (loss) for the period to be appropriated | 9905 | €53,012 | €265,703 | +€212,691 | +401% |
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 30 October 2026 via checked.be.