O' 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.
What changed
O' VELO
NACE 47.632, Retail sale of bicycles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€54,612
2024 · -€45,055-€9,557
Equity
€113,216
2024 · €167,828-€54,612
Cash
€12,036
2024 · €17,077-€5,041
Balance sheet total
€1.3m
2024 · €1.3m-€47,620
Largest movements
Assets
- Tangible fixed assets -€42,949
down €42,949 (-6.4%), from €668,709 to €625,760
of which Land and buildings: -€35,730
Equity and liabilities
- Reserves -€54,612
down €54,612 (-36.6%), from €149,228 to €94,616
of which Distributable reserves: -€54,612
- Trade debts +€26,531
up €26,531 (+32.0%), from €82,785 to €109,316
- Debts after one year -€13,814
down €13,814 (-1.7%), from €797,636 to €783,823
Income statement
- Staff costs +€9,038
up €9,038 (+13.2%), from €68,303 to €77,341
- Other operating charges +€3,314
up €3,314 (+37.3%), from €8,889 to €12,202
- Financial income +€2,488
up €2,488 (+46.4%), from €5,361 to €7,849
- Depreciation -€2,291
down €2,291 (-5.0%), from €46,066 to €43,775
- Financial charges +€1,412
up €1,412 (+5.7%), from €24,715 to €26,127
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.
Result 2024
-€45,055
Gross operating margin
-€572
Staff costs
-€9,038
Depreciation
+€2,291
Other operating charges
-€3,314
Financial income
+€2,488
Financial charges
-€1,412
Result 2025
-€54,612
raises the resultlowers the result
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.
From operations
+€7,202
Investment
€0
Financing
-€12,243
Cash 2024
€17,077
From operations (derived)
+€7,202
Net result for the year
-€54,612
Depreciation
+€43,775
Stocks and contracts
-€12,732
Receivables within one year
+€9,636
Deferred charges and accrued income
+€1,900
Trade debts
+€26,531
Tax, wage and social debts
-€9,645
Advances received
-€1,943
Other debts
+€4,434
Accrued charges and deferred income
-€142
Financing
-€12,243
Debts after one year
-€13,814
Current portion of long-term debt
+€1,571
Cash 2025
€12,036
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,320,604 | €1,272,984 | -€47,620 | -3.6% |
| Fixed assets | 21/28 | €670,249 | €626,474 | -€43,775 | -6.5% |
| Intangible fixed assets | 21 | €1,540 | €714 | -€826 | -53.6% |
| Tangible fixed assets | 22/27 | €668,709 | €625,760 | -€42,949 | -6.4% |
| Land and buildings | 22 | €652,677 | €616,947 | -€35,730 | -5.5% |
| Plant, machinery and equipment | 23 | €3,704 | €2,406 | -€1,298 | -35.1% |
| Furniture and vehicles | 24 | €12,329 | €6,407 | -€5,921 | -48.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €650,355 | €646,510 | -€3,845 | -0.6% |
| Stocks and contracts in progress | 3 | €599,563 | €612,295 | +€12,732 | +2.1% |
| Stocks | 30/36 | €599,563 | €612,295 | +€12,732 | +2.1% |
| Amounts receivable within one year | 40/41 | €26,572 | €16,936 | -€9,636 | -36.3% |
| Trade receivables | 40 | €23,100 | €16,033 | -€7,067 | -30.6% |
| Other amounts receivable | 41 | €3,472 | €903 | -€2,569 | -74.0% |
| Cash at bank and in hand | 54/58 | €17,077 | €12,036 | -€5,041 | -29.5% |
| Deferred charges and accrued income | 490/1 | €7,143 | €5,242 | -€1,900 | -26.6% |
| Total equity and liabilities | 10/49 | €1,320,604 | €1,272,984 | -€47,620 | -3.6% |
| Equity | 10/15 | €167,828 | €113,216 | -€54,612 | -32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,228 | €94,616 | -€54,612 | -36.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €6,630 | €6,630 | = | 0.0% |
| Distributable reserves | 133 | €142,598 | €87,986 | -€54,612 | -38.3% |
| Amounts payable | 17/49 | €1,152,776 | €1,159,768 | +€6,992 | +0.6% |
| Amounts payable after more than one year | 17 | €797,636 | €783,823 | -€13,814 | -1.7% |
| Financial debts | 170/4 | €797,636 | €783,823 | -€13,814 | -1.7% |
| Amounts payable within one year | 42/48 | €354,144 | €375,092 | +€20,947 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €76,567 | €78,138 | +€1,571 | +2.1% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €82,785 | €109,316 | +€26,531 | +32.0% |
| Suppliers | 440/4 | €82,785 | €109,316 | +€26,531 | +32.0% |
| Advances received on contracts in progress | 46 | €1,943 | €0 | -€1,943 | -100% |
| Taxes, remuneration and social security | 45 | €29,249 | €19,604 | -€9,645 | -33.0% |
| Taxes | 450/3 | €17,601 | €9,733 | -€7,868 | -44.7% |
| Remuneration and social security | 454/9 | €11,647 | €9,871 | -€1,776 | -15.3% |
| Other amounts payable | 47/48 | €63,600 | €68,034 | +€4,434 | +7.0% |
| Accrued charges and deferred income | 492/3 | €995 | €854 | -€142 | -14.3% |
| Remuneration, social security and pensions | 62 | €68,303 | €77,341 | +€9,038 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,066 | €43,775 | -€2,291 | -5.0% |
| Other operating charges | 640/8 | €8,889 | €12,202 | +€3,314 | +37.3% |
| Gross operating margin | 9900 | €97,557 | €96,985 | -€572 | -0.6% |
| Operating profit (loss) | 9901 | -€25,701 | -€36,334 | -€10,633 | -41.4% |
| Financial income | 75/76B | €5,361 | €7,849 | +€2,488 | +46.4% |
| Recurring financial income | 75 | €5,361 | €7,849 | +€2,488 | +46.4% |
| Financial charges | 65/66B | €24,715 | €26,127 | +€1,412 | +5.7% |
| Recurring financial charges | 65 | €24,715 | €26,127 | +€1,412 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€45,055 | -€54,612 | -€9,557 | -21.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€45,055 | -€54,612 | -€9,557 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,055 | -€54,612 | -€9,557 | -21.2% |
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 29 October 2026 via checked.be.