HELLO VELO: what changed
Two fiscal 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.
HELLO VELO
Largest movements
- Stocks and contracts -€529,340
down €529,340 (-27.0%), from €2.0m to €1.4m
- Cash -€47,209
down €47,209 (-27.7%), from €170,516 to €123,307
mainly Other debts (-€590,000) and Accrued charges and deferred income (-€46,681)
- Receivables within one year +€34,094
up €34,094 (+15.9%), from €214,710 to €248,804
- Other debts -€590,000
down €590,000 (-28.1%), from €2.1m to €1.5m
- Tax, wage and social debts +€71,106
up €71,106 (+278.7%), from €25,512 to €96,619
of which Taxes: +€85,356
- Accrued charges and deferred income -€46,681
down €46,681 (-42.8%), from €109,046 to €62,365
- Gross operating margin +€138,335
up €138,335, from -€4,928 to €133,407
- Financial charges -€48,711
down €48,711 (-43.8%), from €111,232 to €62,521
of which Financial charges: -€48,843
- Staff costs -€46,183
down €46,183 (-53.6%), from €86,126 to €39,943
- Financial income -€3,598
down €3,598 (-30.8%), from €11,684 to €8,086
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.
Cash bridge derived
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 | €2,404,859 | €1,849,035 | -€555,824 | -23.1% |
| Formation expenses | 20 | €12,104 | €8,379 | -€3,726 | -30.8% |
| Fixed assets | 21/28 | €44,679 | €33,632 | -€11,047 | -24.7% |
| Intangible fixed assets | 21 | €17,645 | €13,314 | -€4,332 | -24.5% |
| Tangible fixed assets | 22/27 | €27,034 | €20,318 | -€6,716 | -24.8% |
| Furniture and vehicles | 24 | €17,328 | €11,789 | -€5,539 | -32.0% |
| Other tangible fixed assets | 26 | €9,706 | €8,529 | -€1,177 | -12.1% |
| Current assets | 29/58 | €2,348,076 | €1,807,024 | -€541,051 | -23.0% |
| Stocks and contracts in progress | 3 | €1,962,849 | €1,433,510 | -€529,340 | -27.0% |
| Stocks | 30/36 | €1,962,849 | €1,433,510 | -€529,340 | -27.0% |
| Amounts receivable within one year | 40/41 | €214,710 | €248,804 | +€34,094 | +15.9% |
| Trade receivables | 40 | €214,710 | €248,804 | +€34,094 | +15.9% |
| Cash at bank and in hand | 54/58 | €170,516 | €123,307 | -€47,209 | -27.7% |
| Deferred charges and accrued income | 490/1 | - | €1,404 | +€1,404 | |
| Total equity and liabilities | 10/49 | €2,404,859 | €1,849,035 | -€555,824 | -23.1% |
| Equity | 10/15 | €110,401 | €133,001 | +€22,599 | +20.5% |
| Contributions | 10/11 | €510,000 | €510,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€399,599 | -€376,999 | +€22,599 | +5.7% |
| Amounts payable | 17/49 | €2,294,458 | €1,716,034 | -€578,423 | -25.2% |
| Amounts payable within one year | 42/48 | €2,185,412 | €1,653,669 | -€531,743 | -24.3% |
| Trade debts | 44 | €59,900 | €47,051 | -€12,849 | -21.5% |
| Suppliers | 440/4 | €59,900 | €47,051 | -€12,849 | -21.5% |
| Taxes, remuneration and social security | 45 | €25,512 | €96,619 | +€71,106 | +278.7% |
| Taxes | 450/3 | €11,262 | €96,619 | +€85,356 | +757.9% |
| Remuneration and social security | 454/9 | €14,250 | - | -€14,250 | |
| Other amounts payable | 47/48 | €2,100,000 | €1,510,000 | -€590,000 | -28.1% |
| Accrued charges and deferred income | 492/3 | €109,046 | €62,365 | -€46,681 | -42.8% |
| Remuneration, social security and pensions | 62 | €86,126 | €39,943 | -€46,183 | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,257 | €14,773 | +€516 | +3.6% |
| Other operating charges | 640/8 | €1,031 | €1,328 | +€297 | +28.9% |
| Gross operating margin | 9900 | -€4,928 | €133,407 | +€138,335 | |
| Operating profit (loss) | 9901 | -€106,342 | €77,363 | +€183,705 | |
| Financial income | 75/76B | €11,684 | €8,086 | -€3,598 | -30.8% |
| Recurring financial income | 75 | €11,684 | €8,086 | -€3,598 | -30.8% |
| Financial charges | 65/66B | €111,232 | €62,521 | -€48,711 | -43.8% |
| Recurring financial charges | 65 | €111,232 | €62,389 | -€48,843 | -43.9% |
| Non-recurring financial charges | 66B | - | €132 | +€132 | |
| Profit (loss) for the period before taxes | 9903 | -€205,890 | €22,928 | +€228,818 | |
| Income taxes | 67/77 | €350 | €328 | -€22 | -6.2% |
| Profit (loss) for the period | 9904 | -€206,240 | €22,599 | +€228,839 | |
| Profit (loss) for the period to be appropriated | 9905 | -€206,240 | €22,599 | +€228,839 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.