IMMO VELAINE: what changed
IMMO VELAINE
Largest movements
- Receivables within one year +€19,130
new in 2025: €19,130
- Tangible fixed assets -€16,224
down €16,224 (-5.6%), from €288,505 to €272,281
of which Plant, machinery and equipment: -€10,722
- Cash -€11,607
down €11,607 (-43.3%), from €26,830 to €15,223
mainly Receivables within one year (-€19,130) and Debts after one year (-€16,061)
- Debts after one year -€16,061
down €16,061 (-14.6%), from €109,822 to €93,761
- Reserves +€14,337
up €14,337 (+14.6%), from €98,163 to €112,500
of which Distributable reserves: +€16,000
- Other debts -€12,264
down €12,264 (-23.7%), from €51,715 to €39,451
- Tax, wage and social debts +€8,043
up €8,043 (+167%), from €4,821 to €12,864
- Gross operating margin +€10,527
up €10,527 (+24.6%), from €42,772 to €53,299
- Other operating charges +€3,919
up €3,919 (+3,266%), from €120 to €4,039
- Taxes +€3,222
up €3,222 (+66.8%), from €4,821 to €8,043
- Financial charges -€2,268
down €2,268 (-89.0%), from €2,548 to €279
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €315,335 | €306,634 | -€8,701 | -2.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €288,505 | €272,281 | -€16,224 | -5.6% |
| Tangible fixed assets | 22/27 | €288,505 | €272,281 | -€16,224 | -5.6% |
| Land and buildings | 22 | €95,166 | €89,665 | -€5,502 | -5.8% |
| Plant, machinery and equipment | 23 | €193,338 | €182,616 | -€10,722 | -5.5% |
| Current assets | 29/58 | €26,830 | €34,353 | +€7,523 | +28.0% |
| Amounts receivable within one year | 40/41 | - | €19,130 | +€19,130 | |
| Other amounts receivable | 41 | - | €19,130 | +€19,130 | |
| Cash at bank and in hand | 54/58 | €26,830 | €15,223 | -€11,607 | -43.3% |
| Total equity and liabilities | 10/49 | €315,335 | €306,634 | -€8,701 | -2.8% |
| Equity | 10/15 | €129,710 | €144,146 | +€14,436 | +11.1% |
| Contributions | 10/11 | €8,050 | €8,050 | = | 0.0% |
| Reserves | 13 | €98,163 | €112,500 | +€14,337 | +14.6% |
| Tax-exempt reserves | 132 | €18,073 | €16,410 | -€1,663 | -9.2% |
| Distributable reserves | 133 | €80,090 | €96,090 | +€16,000 | +20.0% |
| Profit (loss) carried forward | 14 | €23,497 | €23,595 | +€99 | +0.4% |
| Provisions and deferred taxes | 16 | €3,473 | €2,357 | -€1,116 | -32.1% |
| Deferred taxes | 168 | €3,473 | €2,357 | -€1,116 | -32.1% |
| Amounts payable | 17/49 | €182,152 | €160,131 | -€22,021 | -12.1% |
| Amounts payable after more than one year | 17 | €109,822 | €93,761 | -€16,061 | -14.6% |
| Financial debts | 170/4 | €109,822 | €93,761 | -€16,061 | -14.6% |
| Amounts payable within one year | 42/48 | €72,330 | €66,371 | -€5,960 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €15,794 | €14,056 | -€1,739 | -11.0% |
| Taxes, remuneration and social security | 45 | €4,821 | €12,864 | +€8,043 | +167% |
| Taxes | 450/3 | €4,821 | €12,864 | +€8,043 | +167% |
| Other amounts payable | 47/48 | €51,715 | €39,451 | -€12,264 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,223 | €27,618 | +€395 | +1.5% |
| Other operating charges | 640/8 | €120 | €4,039 | +€3,919 | +3,266% |
| Gross operating margin | 9900 | €42,772 | €53,299 | +€10,527 | +24.6% |
| Operating profit (loss) | 9901 | €15,429 | €21,641 | +€6,212 | +40.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,548 | €279 | -€2,268 | -89.0% |
| Recurring financial charges | 65 | €2,548 | €279 | -€2,268 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €12,882 | €21,362 | +€8,481 | +65.8% |
| Transfer from deferred taxes | 780 | €372 | €1,116 | +€744 | +200% |
| Income taxes | 67/77 | €4,821 | €8,043 | +€3,222 | +66.8% |
| Profit (loss) for the period | 9904 | €8,433 | €14,436 | +€6,003 | +71.2% |
| Transfer from tax-exempt reserves | 789 | €554 | €1,663 | +€1,108 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €8,987 | €16,099 | +€7,112 | +79.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.