CARGO VELO: 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.
CARGO VELO
Largest movements
- Receivables within one year +€53,337
up €53,337 (+46.7%), from €114,330 to €167,667
of which Trade receivables: +€53,820
- Financial fixed assets +€9,700
up €9,700 (+241%), from €4,017 to €13,717
- Intangible fixed assets -€5,667
down €5,667 (-27.7%), from €20,426 to €14,759
- Tangible fixed assets -€4,555
down €4,555 (-22.2%), from €20,488 to €15,932
of which Furniture and vehicles: -€4,476
- Deferred charges and accrued income -€2,642
down €2,642 (-34.5%), from €7,660 to €5,018
- Current portion of long-term debt +€337,751
up €337,751 (+195%), from €173,112 to €510,863
- Debts after one year -€240,048
down €240,048 (-100%), from €240,048 to €0
- Trade debts -€51,747
down €51,747 (-32.7%), from €158,145 to €106,399
- Accrued charges and deferred income +€7,162
new in 2025: €7,162
- Profit (loss) carried forward -€6,693
down €6,693 (-0.6%), from -€1.1m to -€1.1m
- Gross operating margin +€286,052
up €286,052 (+81.8%), from €349,674 to €635,727
- Staff costs -€12,568
down €12,568 (-2.0%), from €624,992 to €612,424
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 | €208,821 | €259,099 | +€50,277 | +24.1% |
| Fixed assets | 21/28 | €44,931 | €44,409 | -€522 | -1.2% |
| Intangible fixed assets | 21 | €20,426 | €14,759 | -€5,667 | -27.7% |
| Tangible fixed assets | 22/27 | €20,488 | €15,932 | -€4,555 | -22.2% |
| Plant, machinery and equipment | 23 | €119 | €40 | -€80 | -66.7% |
| Furniture and vehicles | 24 | €20,368 | €15,893 | -€4,476 | -22.0% |
| Financial fixed assets | 28 | €4,017 | €13,717 | +€9,700 | +241% |
| Current assets | 29/58 | €163,891 | €214,690 | +€50,799 | +31.0% |
| Amounts receivable within one year | 40/41 | €114,330 | €167,667 | +€53,337 | +46.7% |
| Trade receivables | 40 | €112,662 | €166,482 | +€53,820 | +47.8% |
| Other amounts receivable | 41 | €1,668 | €1,185 | -€483 | -28.9% |
| Cash at bank and in hand | 54/58 | €41,900 | €42,005 | +€105 | +0.3% |
| Deferred charges and accrued income | 490/1 | €7,660 | €5,018 | -€2,642 | -34.5% |
| Total equity and liabilities | 10/49 | €208,821 | €259,099 | +€50,277 | +24.1% |
| Equity | 10/15 | -€467,795 | -€474,488 | -€6,693 | -1.4% |
| Contributions | 10/11 | €673,990 | €673,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,141,785 | -€1,148,478 | -€6,693 | -0.6% |
| Amounts payable | 17/49 | €676,617 | €733,587 | +€56,970 | +8.4% |
| Amounts payable after more than one year | 17 | €240,048 | €0 | -€240,048 | -100% |
| Financial debts | 170/4 | €240,048 | €0 | -€240,048 | -100% |
| Amounts payable within one year | 42/48 | €436,569 | €726,425 | +€289,856 | +66.4% |
| Current portion of amounts payable after more than one year | 42 | €173,112 | €510,863 | +€337,751 | +195% |
| Financial debts | 43 | €4,474 | €10,587 | +€6,113 | +137% |
| Credit institutions | 430/8 | €4,474 | €4,125 | -€349 | -7.8% |
| Other loans | 439 | - | €6,462 | +€6,462 | |
| Trade debts | 44 | €158,145 | €106,399 | -€51,747 | -32.7% |
| Suppliers | 440/4 | €158,145 | €106,399 | -€51,747 | -32.7% |
| Taxes, remuneration and social security | 45 | €98,015 | €95,909 | -€2,106 | -2.1% |
| Taxes | 450/3 | €27,024 | €20,672 | -€6,352 | -23.5% |
| Remuneration and social security | 454/9 | €70,991 | €75,237 | +€4,246 | +6.0% |
| Other amounts payable | 47/48 | €2,823 | €2,667 | -€156 | -5.5% |
| Accrued charges and deferred income | 492/3 | - | €7,162 | +€7,162 | |
| Non-recurring operating income | 76A | - | €292,707 | +€292,707 | |
| Remuneration, social security and pensions | 62 | €624,992 | €612,424 | -€12,568 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,304 | €17,709 | -€4,595 | -20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,593 | €0 | -€1,593 | -100% |
| Other operating charges | 640/8 | €5,447 | €2,516 | -€2,931 | -53.8% |
| Gross operating margin | 9900 | €349,674 | €635,727 | +€286,052 | +81.8% |
| Operating profit (loss) | 9901 | -€304,661 | €3,078 | +€307,739 | |
| Financial income | 75/76B | €293 | €2,000 | +€1,707 | +583% |
| Recurring financial income | 75 | €293 | €2,000 | +€1,707 | +583% |
| Financial charges | 65/66B | €12,751 | €11,770 | -€981 | -7.7% |
| Recurring financial charges | 65 | €12,751 | €11,770 | -€981 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€317,119 | -€6,693 | +€310,426 | +97.9% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -46.7% |
| Profit (loss) for the period | 9904 | -€317,120 | -€6,693 | +€310,427 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€317,120 | -€6,693 | +€310,427 | +97.9% |
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.