VELEC: 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
VELEC
NACE 27.120, Manufacture of electrical equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,226
2024 · -€2,195+€4,421
Equity
€6.1m
2024 · €6.1m+€2,226
Cash
€13,358
2024 · €10,157+€3,202
Balance sheet total
€9.4m
2024 · €9.4m+€21,248
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover -€90,848
down €90,848 (-11.9%), from €760,333 to €669,485
- Services and other goods -€79,820
down €79,820 (-47.0%), from €169,946 to €90,127
- Staff costs -€17,119
down €17,119 (-3.2%), from €543,117 to €525,998
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
-€2,195
Turnover
-€90,848
Other operating income
-€795
Services and other goods
+€79,820
Staff costs
+€17,119
Depreciation
-€143
Other operating charges
+€750
Other operating items
-€100
Financial charges
-€263
Taxes
-€1,118
Result 2025
€2,226
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
+€7,579
Investment
-€4,377
Financing
€0
Cash 2024
€10,157
From operations (derived)
+€7,579
Net result for the year
+€2,226
Depreciation
+€11,062
Receivables within one year
-€24,048
Deferred charges and accrued income
-€684
Trade debts
-€3,561
Tax, wage and social debts
-€6,563
Other debts
+€30,071
Accrued charges and deferred income
-€925
Investment (derived)
-€4,377
Investment in fixed assets (net)
-€4,377
Cash 2025
€13,358
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,358,137 | €9,379,385 | +€21,248 | +0.2% |
| Fixed assets | 21/28 | €9,336,218 | €9,329,533 | -€6,685 | -0.1% |
| Intangible fixed assets | 21 | €329 | €210 | -€120 | -36.4% |
| Tangible fixed assets | 22/27 | €26,332 | €19,767 | -€6,565 | -24.9% |
| Plant, machinery and equipment | 23 | €15,866 | €10,319 | -€5,547 | -35.0% |
| Furniture and vehicles | 24 | €10,466 | €9,448 | -€1,018 | -9.7% |
| Financial fixed assets | 28 | €9,309,556 | €9,309,556 | = | 0.0% |
| Affiliated companies | 280/1 | €9,309,556 | €9,309,556 | = | 0.0% |
| Participating interests | 280 | €9,309,556 | €9,309,556 | = | 0.0% |
| Current assets | 29/58 | €21,919 | €49,852 | +€27,933 | +127% |
| Amounts receivable within one year | 40/41 | €11,762 | €35,810 | +€24,048 | +204% |
| Trade receivables | 40 | €795 | €29,993 | +€29,198 | +3,673% |
| Other amounts receivable | 41 | €10,967 | €5,817 | -€5,150 | -47.0% |
| Cash at bank and in hand | 54/58 | €10,157 | €13,358 | +€3,202 | +31.5% |
| Deferred charges and accrued income | 490/1 | - | €684 | +€684 | |
| Total equity and liabilities | 10/49 | €9,358,137 | €9,379,385 | +€21,248 | +0.2% |
| Equity | 10/15 | €6,067,987 | €6,070,213 | +€2,226 | 0.0% |
| Contributions | 10/11 | €3,168,591 | €3,168,591 | = | 0.0% |
| Reserves | 13 | €419,868 | €419,868 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,868 | €19,868 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,868 | €19,868 | = | 0.0% |
| Distributable reserves | 133 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,479,528 | €2,481,754 | +€2,226 | +0.1% |
| Amounts payable | 17/49 | €3,290,150 | €3,309,172 | +€19,022 | +0.6% |
| Amounts payable after more than one year | 17 | €2,950,000 | €2,950,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,950,000 | €2,950,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €339,050 | €358,997 | +€19,947 | +5.9% |
| Trade debts | 44 | €204,873 | €201,312 | -€3,561 | -1.7% |
| Suppliers | 440/4 | €204,873 | €201,312 | -€3,561 | -1.7% |
| Taxes, remuneration and social security | 45 | €77,057 | €70,494 | -€6,563 | -8.5% |
| Taxes | 450/3 | €20,520 | €21,042 | +€522 | +2.5% |
| Remuneration and social security | 454/9 | €56,537 | €49,452 | -€7,084 | -12.5% |
| Other amounts payable | 47/48 | €57,120 | €87,191 | +€30,071 | +52.6% |
| Accrued charges and deferred income | 492/3 | €1,100 | €175 | -€925 | -84.1% |
| Operating income | 70/76A | €761,128 | €669,485 | -€91,643 | -12.0% |
| Turnover | 70 | €760,333 | €669,485 | -€90,848 | -11.9% |
| Other operating income | 74 | €795 | - | -€795 | |
| Operating charges | 60/66A | €726,289 | €628,844 | -€97,445 | -13.4% |
| Services and other goods | 61 | €169,946 | €90,127 | -€79,820 | -47.0% |
| Remuneration, social security and pensions | 62 | €543,117 | €525,998 | -€17,119 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,919 | €11,062 | +€143 | +1.3% |
| Other operating charges | 640/8 | €2,307 | €1,557 | -€750 | -32.5% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Operating profit (loss) | 9901 | €34,838 | €40,640 | +€5,802 | +16.7% |
| Financial charges | 65/66B | €33,001 | €33,264 | +€263 | +0.8% |
| Recurring financial charges | 65 | €33,001 | €33,264 | +€263 | +0.8% |
| Debt charges | 650 | €31,797 | €32,039 | +€241 | +0.8% |
| Other financial charges | 652/9 | €1,204 | €1,225 | +€22 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €1,837 | €7,376 | +€5,539 | +301% |
| Income taxes | 67/77 | €4,033 | €5,150 | +€1,118 | +27.7% |
| Taxes | 670/3 | €4,033 | €5,150 | +€1,118 | +27.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€2,195 | €2,226 | +€4,421 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,195 | €2,226 | +€4,421 |
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 20 October 2026 via checked.be.