VELD & DUIN: 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
VELD & DUIN
NACE 55.300, Accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€553,117
2024 · €338,542+€214,575
Equity
€2.9m
2024 · €2.3m+€548,817
Cash
€134,726
2024 · €49,608+€85,118
Balance sheet total
€3.4m
2024 · €2.8m+€560,318
Largest movements
Assets
- Current investments +€496,000
up €496,000 (+72.6%), from €682,792 to €1.2m
- Cash +€85,118
up €85,118 (+172%), from €49,608 to €134,726
mainly Net result for the year (+€553,117) and Depreciation (+€111,046)
Equity and liabilities
- Reserves +€553,117
up €553,117 (+25.7%), from €2.2m to €2.7m
of which Distributable reserves: +€308,075
- Provisions +€81,681
new in 2025: €81,681
- Debts after one year -€48,600
down €48,600 (-15.2%), from €318,861 to €270,262
of which Financial debts: -€43,305
Income statement
- Gross operating margin +€265,852
up €265,852 (+34.4%), from €771,965 to €1.0m
- Taxes -€26,134
down €26,134 (-17.6%), from €148,511 to €122,377
- Staff costs -€23,891
down €23,891 (-31.0%), from €77,069 to €53,178
- Financial income -€23,686
down €23,686 (-39.4%), from €60,158 to €36,473
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
€338,542
Gross operating margin
+€265,852
Staff costs
+€23,891
Depreciation
+€4,430
Other operating charges
-€4,898
Financial income
-€23,686
Financial charges
+€4,533
Taxes
+€26,134
Deferred taxes and other
-€81,681
Result 2025
€553,117
raises the resultlowers the resultnot broken down further in the accounts
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
+€752,381
Investment
-€603,628
Financing
-€63,635
Cash 2024
€49,608
From operations (derived)
+€752,381
Net result for the year
+€553,117
Depreciation
+€111,046
Smaller working-capital items
-€324
Receivables within one year
+€17,376
Provisions
+€81,681
Trade debts
-€1,854
Tax, wage and social debts
-€8,661
Investment (derived)
-€603,628
Investment in fixed assets (net)
-€107,628
Current investments
-€496,000
Financing
-€63,635
Debts after one year
-€48,600
Current portion of long-term debt
-€10,736
Contributions, distributions and other
-€4,300
Cash 2025
€134,726
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,832,302 | €3,392,621 | +€560,318 | +19.8% |
| Fixed assets | 21/28 | €2,053,577 | €2,050,159 | -€3,418 | -0.2% |
| Tangible fixed assets | 22/27 | €2,053,427 | €2,050,009 | -€3,418 | -0.2% |
| Land and buildings | 22 | €1,468,538 | €1,518,616 | +€50,078 | +3.4% |
| Plant, machinery and equipment | 23 | €579,574 | €527,412 | -€52,162 | -9.0% |
| Furniture and vehicles | 24 | €5,315 | €3,981 | -€1,334 | -25.1% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €778,726 | €1,342,461 | +€563,736 | +72.4% |
| Stocks and contracts in progress | 3 | €1,580 | €474 | -€1,106 | -70.0% |
| Stocks | 30/36 | €1,580 | €474 | -€1,106 | -70.0% |
| Amounts receivable within one year | 40/41 | €34,380 | €17,003 | -€17,376 | -50.5% |
| Trade receivables | 40 | €29,047 | €13,618 | -€15,429 | -53.1% |
| Other amounts receivable | 41 | €5,333 | €3,385 | -€1,947 | -36.5% |
| Current investments | 50/53 | €682,792 | €1,178,792 | +€496,000 | +72.6% |
| Cash at bank and in hand | 54/58 | €49,608 | €134,726 | +€85,118 | +172% |
| Deferred charges and accrued income | 490/1 | €10,366 | €11,467 | +€1,100 | +10.6% |
| Total equity and liabilities | 10/49 | €2,832,302 | €3,392,621 | +€560,318 | +19.8% |
| Equity | 10/15 | €2,342,859 | €2,891,677 | +€548,817 | +23.4% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Capital | 10 | €165,000 | €165,000 | = | 0.0% |
| Issued capital | 100 | €165,000 | €165,000 | = | 0.0% |
| Reserves | 13 | €2,152,747 | €2,705,865 | +€553,117 | +25.7% |
| Non-distributable reserves | 130/1 | €19,000 | €19,000 | = | 0.0% |
| Legal reserve | 130 | €19,000 | €19,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €245,042 | +€245,042 | |
| Distributable reserves | 133 | €2,133,747 | €2,441,823 | +€308,075 | +14.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | €25,112 | €20,812 | -€4,300 | -17.1% |
| Provisions and deferred taxes | 16 | - | €81,681 | +€81,681 | |
| Deferred taxes | 168 | - | €81,681 | +€81,681 | |
| Amounts payable | 17/49 | €489,443 | €419,263 | -€70,180 | -14.3% |
| Amounts payable after more than one year | 17 | €318,861 | €270,262 | -€48,600 | -15.2% |
| Financial debts | 170/4 | €43,305 | €0 | -€43,305 | -100% |
| Other amounts payable | 178/9 | €275,556 | €270,262 | -€5,295 | -1.9% |
| Amounts payable within one year | 42/48 | €115,034 | €94,633 | -€20,401 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €54,041 | €43,305 | -€10,736 | -19.9% |
| Trade debts | 44 | €30,583 | €28,729 | -€1,854 | -6.1% |
| Suppliers | 440/4 | €30,583 | €28,729 | -€1,854 | -6.1% |
| Advances received on contracts in progress | 46 | €0 | €850 | +€850 | |
| Taxes, remuneration and social security | 45 | €30,410 | €21,749 | -€8,661 | -28.5% |
| Taxes | 450/3 | €26,981 | €18,507 | -€8,475 | -31.4% |
| Remuneration and social security | 454/9 | €3,429 | €3,242 | -€186 | -5.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €55,547 | €54,368 | -€1,179 | -2.1% |
| Non-recurring operating income | 76A | €2,000 | €331,550 | +€329,550 | +16,478% |
| Remuneration, social security and pensions | 62 | €77,069 | €53,178 | -€23,891 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,476 | €111,046 | -€4,430 | -3.8% |
| Other operating charges | 640/8 | €127,203 | €132,101 | +€4,898 | +3.9% |
| Gross operating margin | 9900 | €771,965 | €1,037,817 | +€265,852 | +34.4% |
| Operating profit (loss) | 9901 | €452,217 | €741,492 | +€289,275 | +64.0% |
| Financial income | 75/76B | €60,158 | €36,473 | -€23,686 | -39.4% |
| Recurring financial income | 75 | €60,158 | €36,473 | -€23,686 | -39.4% |
| Financial charges | 65/66B | €25,322 | €20,789 | -€4,533 | -17.9% |
| Recurring financial charges | 65 | €25,322 | €20,789 | -€4,533 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €487,053 | €757,175 | +€270,122 | +55.5% |
| Transfer from deferred taxes | 780 | - | €1,207 | +€1,207 | |
| Transfer to deferred taxes | 680 | - | €82,888 | +€82,888 | |
| Income taxes | 67/77 | €148,511 | €122,377 | -€26,134 | -17.6% |
| Profit (loss) for the period | 9904 | €338,542 | €553,117 | +€214,575 | +63.4% |
| Transfer from tax-exempt reserves | 789 | - | €3,620 | +€3,620 | |
| Transfer to tax-exempt reserves | 689 | - | €248,663 | +€248,663 | |
| Profit (loss) for the period to be appropriated | 9905 | €338,542 | €308,075 | -€30,467 | -9.0% |
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 22 October 2026 via checked.be.