VELDKIP: 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.
VELDKIP
Largest movements
- Receivables within one year +€189,405
up €189,405 (+106.1%), from €178,455 to €367,860
of which Trade receivables: +€128,534
- Tangible fixed assets -€71,772
down €71,772 (-10.6%), from €676,708 to €604,935
of which Plant, machinery and equipment: -€39,955
- Cash +€31,138
up €31,138 (+213.8%), from €14,562 to €45,700
mainly Net result for the year (+€121,685) and Debts after one year (+€102,108)
- Reserves +€121,685
up €121,685 (+52.9%), from €230,117 to €351,801
of which Distributable reserves: +€121,685
- Debts after one year +€102,108
up €102,108 (+27.6%), from €370,232 to €472,340
- Current portion of long-term debt -€76,844
down €76,844 (-100.0%), from €76,844 to €0
- Gross operating margin +€116,529
up €116,529 (+48.9%), from €238,228 to €354,756
- Taxes +€25,785
up €25,785 (+169.3%), from €15,232 to €41,017
- Staff costs +€9,414
up €9,414 (+11.8%), from €80,113 to €89,527
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €873,703 | €1,022,645 | +€148,942 | +17.0% |
| Fixed assets | 21/28 | €676,708 | €604,935 | -€71,772 | -10.6% |
| Tangible fixed assets | 22/27 | €676,708 | €604,935 | -€71,772 | -10.6% |
| Land and buildings | 22 | €503,219 | €476,217 | -€27,003 | -5.4% |
| Plant, machinery and equipment | 23 | €158,881 | €118,926 | -€39,955 | -25.1% |
| Furniture and vehicles | 24 | €14,607 | €9,793 | -€4,814 | -33.0% |
| Current assets | 29/58 | €196,996 | €417,710 | +€220,715 | +112.0% |
| Amounts receivable within one year | 40/41 | €178,455 | €367,860 | +€189,405 | +106.1% |
| Trade receivables | 40 | €171,309 | €299,844 | +€128,534 | +75.0% |
| Other amounts receivable | 41 | €7,146 | €68,017 | +€60,871 | +851.8% |
| Cash at bank and in hand | 54/58 | €14,562 | €45,700 | +€31,138 | +213.8% |
| Deferred charges and accrued income | 490/1 | €3,979 | €4,150 | +€171 | +4.3% |
| Total equity and liabilities | 10/49 | €873,703 | €1,022,645 | +€148,942 | +17.0% |
| Equity | 10/15 | €307,762 | €429,447 | +€121,685 | +39.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €15,646 | €15,646 | = | 0.0% |
| Reserves | 13 | €230,117 | €351,801 | +€121,685 | +52.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €223,917 | €345,601 | +€121,685 | +54.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €565,941 | €593,199 | +€27,258 | +4.8% |
| Amounts payable after more than one year | 17 | €370,232 | €472,340 | +€102,108 | +27.6% |
| Financial debts | 170/4 | €370,232 | €472,340 | +€102,108 | +27.6% |
| Amounts payable within one year | 42/48 | €192,329 | €117,081 | -€75,249 | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €76,844 | €0 | -€76,844 | -100.0% |
| Trade debts | 44 | €97,647 | €97,933 | +€286 | +0.3% |
| Suppliers | 440/4 | €97,647 | €97,933 | +€286 | +0.3% |
| Taxes, remuneration and social security | 45 | €17,839 | €19,148 | +€1,309 | +7.3% |
| Taxes | 450/3 | €1,244 | €1,048 | -€196 | -15.8% |
| Remuneration and social security | 454/9 | €16,595 | €18,100 | +€1,505 | +9.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,379 | €3,778 | +€398 | +11.8% |
| Non-recurring operating income | 76A | €20,182 | €0 | -€20,182 | -100.0% |
| Remuneration, social security and pensions | 62 | €80,113 | €89,527 | +€9,414 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,033 | €71,772 | -€261 | -0.4% |
| Other operating charges | 640/8 | €10,081 | €10,784 | +€703 | +7.0% |
| Gross operating margin | 9900 | €238,228 | €354,756 | +€116,529 | +48.9% |
| Operating profit (loss) | 9901 | €76,001 | €182,673 | +€106,672 | +140.4% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €16,522 | €19,985 | +€3,462 | +21.0% |
| Recurring financial charges | 65 | €16,522 | €19,985 | +€3,462 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €59,479 | €162,702 | +€103,223 | +173.5% |
| Income taxes | 67/77 | €15,232 | €41,017 | +€25,785 | +169.3% |
| Profit (loss) for the period | 9904 | €44,247 | €121,685 | +€77,438 | +175.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,247 | €121,685 | +€77,438 | +175.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.