Lars Veelaert: 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.
Lars Veelaert
Largest movements
- Receivables within one year +€9,500
up €9,500 (+54.0%), from €17,599 to €27,099
of which Other amounts receivable: +€8,099
- Tangible fixed assets -€5,276
down €5,276 (-40.3%), from €13,096 to €7,820
of which Furniture and vehicles: -€4,702
- Deferred charges and accrued income -€2,431
down €2,431 (-42.7%), from €5,694 to €3,263
- Receivables after one year -€1,283
down €1,283 (-3.0%), from €42,867 to €41,583
- Cash +€1,038
up €1,038 (+20.4%), from €5,093 to €6,131
mainly Net result for the year (+€13,151) and Depreciation (+€6,645)
- Profit (loss) carried forward +€13,151
up €13,151 (+42.9%), from -€30,681 to -€17,530
- Trade debts -€6,228
down €6,228 (-50.8%), from €12,249 to €6,021
- Other debts -€5,302
down €5,302 (-100%), from €5,302 to €0
- Gross operating margin +€45,751
up €45,751, from -€26,180 to €19,571
- Depreciation -€910
down €910 (-12.0%), from €7,554 to €6,645
- Financial income -€271
down €271 (-13.3%), from €2,034 to €1,762
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 | €84,349 | €85,896 | +€1,548 | +1.8% |
| Fixed assets | 21/28 | €13,096 | €7,820 | -€5,276 | -40.3% |
| Tangible fixed assets | 22/27 | €13,096 | €7,820 | -€5,276 | -40.3% |
| Plant, machinery and equipment | 23 | €1,926 | €1,549 | -€377 | -19.6% |
| Furniture and vehicles | 24 | €10,922 | €6,220 | -€4,702 | -43.0% |
| Other tangible fixed assets | 26 | €248 | €50 | -€198 | -79.7% |
| Current assets | 29/58 | €71,252 | €78,077 | +€6,824 | +9.6% |
| Amounts receivable after more than one year | 29 | €42,867 | €41,583 | -€1,283 | -3.0% |
| Other amounts receivable | 291 | €42,867 | €41,583 | -€1,283 | -3.0% |
| Amounts receivable within one year | 40/41 | €17,599 | €27,099 | +€9,500 | +54.0% |
| Trade receivables | 40 | €5,599 | €7,000 | +€1,401 | +25.0% |
| Other amounts receivable | 41 | €12,000 | €20,099 | +€8,099 | +67.5% |
| Cash at bank and in hand | 54/58 | €5,093 | €6,131 | +€1,038 | +20.4% |
| Deferred charges and accrued income | 490/1 | €5,694 | €3,263 | -€2,431 | -42.7% |
| Total equity and liabilities | 10/49 | €84,349 | €85,896 | +€1,548 | +1.8% |
| Equity | 10/15 | €61,519 | €74,670 | +€13,151 | +21.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €86,000 | €86,000 | = | 0.0% |
| Distributable reserves | 133 | €86,000 | €86,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,681 | -€17,530 | +€13,151 | +42.9% |
| Amounts payable | 17/49 | €22,829 | €11,226 | -€11,603 | -50.8% |
| Amounts payable within one year | 42/48 | €22,829 | €11,099 | -€11,731 | -51.4% |
| Trade debts | 44 | €12,249 | €6,021 | -€6,228 | -50.8% |
| Suppliers | 440/4 | €12,249 | €6,021 | -€6,228 | -50.8% |
| Taxes, remuneration and social security | 45 | €5,278 | €5,077 | -€201 | -3.8% |
| Taxes | 450/3 | €5,278 | €5,077 | -€201 | -3.8% |
| Other amounts payable | 47/48 | €5,302 | €0 | -€5,302 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €128 | +€128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,554 | €6,645 | -€910 | -12.0% |
| Other operating charges | 640/8 | €1,031 | €1,160 | +€129 | +12.5% |
| Gross operating margin | 9900 | -€26,180 | €19,571 | +€45,751 | |
| Operating profit (loss) | 9901 | -€34,765 | €11,767 | +€46,532 | |
| Financial income | 75/76B | €2,034 | €1,762 | -€271 | -13.3% |
| Recurring financial income | 75 | €2,034 | €1,762 | -€271 | -13.3% |
| Financial charges | 65/66B | €110 | €76 | -€34 | -30.6% |
| Recurring financial charges | 65 | €110 | €76 | -€34 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,841 | €13,453 | +€46,294 | |
| Income taxes | 67/77 | €284 | €301 | +€18 | +6.2% |
| Profit (loss) for the period | 9904 | -€33,125 | €13,151 | +€46,276 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,125 | €13,151 | +€46,276 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.