Van Velthoven Management: 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.
Van Velthoven Management
Largest movements
- Cash -€24,438
down €24,438 (-53.7%), from €45,469 to €21,032
mainly Contributions, distributions and other (-€24,710) and Other debts (-€12,663)
- Receivables within one year +€9,745
up €9,745 (+1,022%), from €953 to €10,699
- Tangible fixed assets -€1,652
down €1,652 (-27.1%), from €6,090 to €4,438
- Other debts -€12,663
down €12,663 (-99.4%), from €12,739 to €76
- Reserves -€10,204
down €10,204 (-75.4%), from €13,540 to €3,336
- Trade debts +€8,617
up €8,617 (+464%), from €1,858 to €10,475
- Tax, wage and social debts -€2,095
down €2,095 (-9.8%), from €21,376 to €19,281
- Gross operating margin -€14,066
down €14,066 (-35.5%), from €39,614 to €25,548
- Taxes -€1,371
down €1,371 (-17.3%), from €7,912 to €6,541
- Depreciation +€1,123
up €1,123 (+69.0%), from €1,628 to €2,751
- Other operating charges +€797
up €797 (+140%), from €570 to €1,367
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 | €52,513 | €36,168 | -€16,344 | -31.1% |
| Fixed assets | 21/28 | €6,090 | €4,438 | -€1,652 | -27.1% |
| Tangible fixed assets | 22/27 | €6,090 | €4,438 | -€1,652 | -27.1% |
| Furniture and vehicles | 24 | €6,090 | €4,438 | -€1,652 | -27.1% |
| Current assets | 29/58 | €46,423 | €31,730 | -€14,692 | -31.6% |
| Amounts receivable within one year | 40/41 | €953 | €10,699 | +€9,745 | +1,022% |
| Trade receivables | 40 | €953 | €10,699 | +€9,745 | +1,022% |
| Cash at bank and in hand | 54/58 | €45,469 | €21,032 | -€24,438 | -53.7% |
| Total equity and liabilities | 10/49 | €52,513 | €36,168 | -€16,344 | -31.1% |
| Equity | 10/15 | €16,540 | €6,336 | -€10,204 | -61.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,540 | €3,336 | -€10,204 | -75.4% |
| Distributable reserves | 133 | €13,540 | €3,336 | -€10,204 | -75.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,973 | €29,832 | -€6,141 | -17.1% |
| Amounts payable within one year | 42/48 | €35,973 | €29,832 | -€6,141 | -17.1% |
| Trade debts | 44 | €1,858 | €10,475 | +€8,617 | +464% |
| Suppliers | 440/4 | €1,858 | €10,475 | +€8,617 | +464% |
| Taxes, remuneration and social security | 45 | €21,376 | €19,281 | -€2,095 | -9.8% |
| Taxes | 450/3 | €21,376 | €19,281 | -€2,095 | -9.8% |
| Other amounts payable | 47/48 | €12,739 | €76 | -€12,663 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,628 | €2,751 | +€1,123 | +69.0% |
| Other operating charges | 640/8 | €570 | €1,367 | +€797 | +140% |
| Gross operating margin | 9900 | €39,614 | €25,548 | -€14,066 | -35.5% |
| Operating profit (loss) | 9901 | €37,417 | €21,430 | -€15,986 | -42.7% |
| Financial income | 75/76B | €359 | €1 | -€358 | -99.8% |
| Recurring financial income | 75 | €359 | €1 | -€358 | -99.8% |
| Financial charges | 65/66B | €232 | €383 | +€151 | +65.1% |
| Recurring financial charges | 65 | €232 | €383 | +€151 | +65.1% |
| Profit (loss) for the period before taxes | 9903 | €37,543 | €21,048 | -€16,496 | -43.9% |
| Income taxes | 67/77 | €7,912 | €6,541 | -€1,371 | -17.3% |
| Profit (loss) for the period | 9904 | €29,631 | €14,506 | -€15,125 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,631 | €14,506 | -€15,125 | -51.0% |
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 1 November 2026 via checked.be.