VEILICO: 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.
VEILICO
Largest movements
- Tangible fixed assets -€43,575
down €43,575 (-34.3%), from €126,918 to €83,343
of which Furniture and vehicles: -€41,323
- Intangible fixed assets +€33,391
new in 2025: €33,391
- Cash +€10,764
up €10,764 (+329.8%), from €3,264 to €14,028
mainly Depreciation (+€44,733) and Other debts (+€15,302)
- Receivables within one year -€9,091
down €9,091 (-11.7%), from €78,022 to €68,931
of which Other amounts receivable: -€10,376
- Financial fixed assets -€3,392
down €3,392 (-98.8%), from €3,432 to €40
- Reserves -€32,212
down €32,212 (-88.3%), from €36,467 to €4,255
- Other debts +€15,302
new in 2025: €15,302
- Current portion of long-term debt +€6,295
up €6,295 (+25.0%), from €25,172 to €31,467
- Trade debts -€4,726
down €4,726 (-22.8%), from €20,731 to €16,005
- Tax, wage and social debts +€4,508
up €4,508 (+5.7%), from €78,403 to €82,911
of which Remuneration and social security: +€11,176
- Staff costs -€70,175
down €70,175 (-27.1%), from €258,576 to €188,401
- Gross operating margin -€44,539
down €44,539 (-17.7%), from €251,495 to €206,955
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 | €215,374 | €201,046 | -€14,328 | -6.7% |
| Fixed assets | 21/28 | €130,350 | €116,775 | -€13,575 | -10.4% |
| Intangible fixed assets | 21 | - | €33,391 | +€33,391 | |
| Tangible fixed assets | 22/27 | €126,918 | €83,343 | -€43,575 | -34.3% |
| Furniture and vehicles | 24 | €115,453 | €74,129 | -€41,323 | -35.8% |
| Other tangible fixed assets | 26 | €11,465 | €9,214 | -€2,251 | -19.6% |
| Financial fixed assets | 28 | €3,432 | €40 | -€3,392 | -98.8% |
| Current assets | 29/58 | €85,024 | €84,271 | -€753 | -0.9% |
| Amounts receivable within one year | 40/41 | €78,022 | €68,931 | -€9,091 | -11.7% |
| Trade receivables | 40 | €51,701 | €52,985 | +€1,284 | +2.5% |
| Other amounts receivable | 41 | €26,321 | €15,946 | -€10,376 | -39.4% |
| Cash at bank and in hand | 54/58 | €3,264 | €14,028 | +€10,764 | +329.8% |
| Deferred charges and accrued income | 490/1 | €3,737 | €1,312 | -€2,425 | -64.9% |
| Total equity and liabilities | 10/49 | €215,374 | €201,046 | -€14,328 | -6.7% |
| Equity | 10/15 | €42,667 | €10,455 | -€32,212 | -75.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,467 | €4,255 | -€32,212 | -88.3% |
| Distributable reserves | 133 | €36,467 | €4,255 | -€32,212 | -88.3% |
| Amounts payable | 17/49 | €172,707 | €190,591 | +€17,884 | +10.4% |
| Amounts payable after more than one year | 17 | €48,146 | €44,722 | -€3,424 | -7.1% |
| Financial debts | 170/4 | €48,146 | €44,722 | -€3,424 | -7.1% |
| Amounts payable within one year | 42/48 | €124,562 | €145,870 | +€21,308 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €25,172 | €31,467 | +€6,295 | +25.0% |
| Financial debts | 43 | €135 | €65 | -€70 | -51.7% |
| Credit institutions | 430/8 | €135 | €65 | -€70 | -51.7% |
| Trade debts | 44 | €20,731 | €16,005 | -€4,726 | -22.8% |
| Suppliers | 440/4 | €20,731 | €16,005 | -€4,726 | -22.8% |
| Advances received on contracts in progress | 46 | €121 | €121 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €78,403 | €82,911 | +€4,508 | +5.7% |
| Taxes | 450/3 | €21,641 | €14,973 | -€6,668 | -30.8% |
| Remuneration and social security | 454/9 | €56,762 | €67,938 | +€11,176 | +19.7% |
| Other amounts payable | 47/48 | - | €15,302 | +€15,302 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €258,576 | €188,401 | -€70,175 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,078 | €44,733 | -€345 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €921 | €2,446 | +€1,525 | +165.5% |
| Gross operating margin | 9900 | €251,495 | €206,955 | -€44,539 | -17.7% |
| Operating profit (loss) | 9901 | -€53,081 | -€28,625 | +€24,457 | +46.1% |
| Financial income | 75/76B | €779 | €401 | -€378 | -48.5% |
| Recurring financial income | 75 | €779 | €401 | -€378 | -48.5% |
| Financial charges | 65/66B | €4,053 | €3,989 | -€65 | -1.6% |
| Recurring financial charges | 65 | €4,053 | €3,989 | -€65 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€56,355 | -€32,212 | +€24,143 | +42.8% |
| Profit (loss) for the period | 9904 | -€56,355 | -€32,212 | +€24,143 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,355 | -€32,212 | +€24,143 | +42.8% |
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.