VELASQUEZ VERONICA: 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.
VELASQUEZ VERONICA
Largest movements
- Cash +€74,311
up €74,311 (+19.4%), from €382,749 to €457,060
mainly Net result for the year (+€84,990) and Depreciation (+€12,587)
- Receivables within one year +€14,367
up €14,367 (+521%), from €2,760 to €17,126
- Reserves +€50,000
up €50,000 (+34.0%), from €146,860 to €196,860
of which Distributable reserves: +€50,000
- Profit (loss) carried forward +€30,615
up €30,615 (+12.7%), from €241,228 to €271,843
- Tax, wage and social debts +€8,167
up €8,167 (+104%), from €7,839 to €16,007
of which Taxes: +€8,009
- Gross operating margin +€24,864
up €24,864 (+17.4%), from €143,299 to €168,163
- Taxes +€9,697
up €9,697 (+48.5%), from €20,000 to €29,697
- Depreciation -€7,999
down €7,999 (-38.9%), from €20,586 to €12,587
- Staff costs +€4,566
up €4,566 (+12.7%), from €35,930 to €40,496
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 | €423,659 | €511,487 | +€87,828 | +20.7% |
| Fixed assets | 21/28 | €37,743 | €33,651 | -€4,092 | -10.8% |
| Tangible fixed assets | 22/27 | €37,743 | €33,651 | -€4,092 | -10.8% |
| Plant, machinery and equipment | 23 | €23,400 | €21,776 | -€1,625 | -6.9% |
| Furniture and vehicles | 24 | €4,117 | €2,166 | -€1,951 | -47.4% |
| Other tangible fixed assets | 26 | €10,225 | €9,709 | -€517 | -5.1% |
| Current assets | 29/58 | €385,916 | €477,837 | +€91,921 | +23.8% |
| Amounts receivable within one year | 40/41 | €2,760 | €17,126 | +€14,367 | +521% |
| Trade receivables | 40 | €2,760 | €17,126 | +€14,367 | +521% |
| Cash at bank and in hand | 54/58 | €382,749 | €457,060 | +€74,311 | +19.4% |
| Deferred charges and accrued income | 490/1 | €407 | €3,650 | +€3,243 | +796% |
| Total equity and liabilities | 10/49 | €423,659 | €511,487 | +€87,828 | +20.7% |
| Equity | 10/15 | €406,688 | €487,303 | +€80,615 | +19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,860 | €196,860 | +€50,000 | +34.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €145,000 | €195,000 | +€50,000 | +34.5% |
| Profit (loss) carried forward | 14 | €241,228 | €271,843 | +€30,615 | +12.7% |
| Amounts payable | 17/49 | €16,971 | €24,184 | +€7,213 | +42.5% |
| Amounts payable within one year | 42/48 | €16,971 | €24,184 | +€7,213 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €2,253 | - | -€2,253 | |
| Trade debts | 44 | €5,940 | €8,003 | +€2,063 | +34.7% |
| Suppliers | 440/4 | €5,940 | €8,003 | +€2,063 | +34.7% |
| Taxes, remuneration and social security | 45 | €7,839 | €16,007 | +€8,167 | +104% |
| Taxes | 450/3 | €3,000 | €11,009 | +€8,009 | +267% |
| Remuneration and social security | 454/9 | €4,839 | €4,997 | +€158 | +3.3% |
| Other amounts payable | 47/48 | €938 | €174 | -€764 | -81.5% |
| Remuneration, social security and pensions | 62 | €35,930 | €40,496 | +€4,566 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,586 | €12,587 | -€7,999 | -38.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €143,299 | €168,163 | +€24,864 | +17.4% |
| Operating profit (loss) | 9901 | €86,396 | €114,680 | +€28,284 | +32.7% |
| Financial income | 75/76B | €4 | €304 | +€300 | +8,573% |
| Recurring financial income | 75 | €4 | €304 | +€300 | +8,573% |
| Financial charges | 65/66B | €702 | €297 | -€405 | -57.7% |
| Recurring financial charges | 65 | €702 | €297 | -€405 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €85,697 | €114,687 | +€28,989 | +33.8% |
| Income taxes | 67/77 | €20,000 | €29,697 | +€9,697 | +48.5% |
| Profit (loss) for the period | 9904 | €65,697 | €84,990 | +€19,292 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,697 | €84,990 | +€19,292 | +29.4% |
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 24 October 2026 via checked.be.