VELGATRANS: 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.
VELGATRANS
Largest movements
- Tangible fixed assets +€25,955
up €25,955 (+14.2%), from €182,771 to €208,726
of which Furniture and vehicles: +€22,125
- Stocks and contracts +€17,500
up €17,500 (+700%), from €2,500 to €20,000
- Receivables after one year -€11,478
down €11,478 (-6.4%), from €178,240 to €166,762
- Reserves +€15,372
up €15,372 (+4.7%), from €324,887 to €340,259
- Debts after one year +€13,647
up €13,647 (+16.0%), from €85,120 to €98,767
- Trade debts +€5,563
new in 2025: €5,563
- Gross operating margin +€22,869
up €22,869 (+17.3%), from €132,422 to €155,291
- Depreciation +€14,868
up €14,868 (+26.5%), from €56,008 to €70,875
- Taxes +€3,385
up €3,385 (+33.8%), from €10,026 to €13,411
- Staff costs +€1,602
up €1,602 (+4.6%), from €34,550 to €36,152
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 | €491,440 | €526,924 | +€35,484 | +7.2% |
| Fixed assets | 21/28 | €183,041 | €208,861 | +€25,820 | +14.1% |
| Tangible fixed assets | 22/27 | €182,771 | €208,726 | +€25,955 | +14.2% |
| Land and buildings | 22 | €40,000 | €40,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €12,287 | €16,117 | +€3,830 | +31.2% |
| Furniture and vehicles | 24 | €130,484 | €152,610 | +€22,125 | +17.0% |
| Financial fixed assets | 28 | €270 | €135 | -€135 | -50.0% |
| Current assets | 29/58 | €308,399 | €318,063 | +€9,663 | +3.1% |
| Amounts receivable after more than one year | 29 | €178,240 | €166,762 | -€11,478 | -6.4% |
| Other amounts receivable | 291 | €178,240 | €166,762 | -€11,478 | -6.4% |
| Stocks and contracts in progress | 3 | €2,500 | €20,000 | +€17,500 | +700% |
| Stocks | 30/36 | €2,500 | €20,000 | +€17,500 | +700% |
| Amounts receivable within one year | 40/41 | €115,943 | €116,529 | +€587 | +0.5% |
| Trade receivables | 40 | €15,122 | €8,767 | -€6,355 | -42.0% |
| Other amounts receivable | 41 | €100,821 | €107,762 | +€6,942 | +6.9% |
| Cash at bank and in hand | 54/58 | €11,717 | €14,772 | +€3,055 | +26.1% |
| Total equity and liabilities | 10/49 | €491,440 | €526,924 | +€35,484 | +7.2% |
| Equity | 10/15 | €343,803 | €359,175 | +€15,372 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €324,887 | €340,259 | +€15,372 | +4.7% |
| Distributable reserves | 133 | €324,887 | €340,259 | +€15,372 | +4.7% |
| Profit (loss) carried forward | 14 | €317 | €317 | = | 0.0% |
| Amounts payable | 17/49 | €147,637 | €167,749 | +€20,112 | +13.6% |
| Amounts payable after more than one year | 17 | €85,120 | €98,767 | +€13,647 | +16.0% |
| Financial debts | 170/4 | €85,120 | €98,767 | +€13,647 | +16.0% |
| Amounts payable within one year | 42/48 | €62,517 | €68,982 | +€6,464 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €53,562 | €56,329 | +€2,767 | +5.2% |
| Trade debts | 44 | - | €5,563 | +€5,563 | |
| Suppliers | 440/4 | - | €5,563 | +€5,563 | |
| Taxes, remuneration and social security | 45 | €7,237 | €5,424 | -€1,813 | -25.1% |
| Taxes | 450/3 | €2,026 | €26 | -€2,000 | -98.7% |
| Remuneration and social security | 454/9 | €5,211 | €5,398 | +€187 | +3.6% |
| Other amounts payable | 47/48 | €1,718 | €1,666 | -€52 | -3.0% |
| Remuneration, social security and pensions | 62 | €34,550 | €36,152 | +€1,602 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,008 | €70,875 | +€14,868 | +26.5% |
| Other operating charges | 640/8 | €2,084 | €2,893 | +€809 | +38.8% |
| Gross operating margin | 9900 | €132,422 | €155,291 | +€22,869 | +17.3% |
| Operating profit (loss) | 9901 | €39,781 | €45,371 | +€5,591 | +14.1% |
| Financial income | 75/76B | €5,719 | €5,837 | +€117 | +2.0% |
| Recurring financial income | 75 | €5,719 | €5,837 | +€117 | +2.0% |
| Financial charges | 65/66B | €6,437 | €5,459 | -€978 | -15.2% |
| Recurring financial charges | 65 | €6,437 | €5,459 | -€978 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €39,063 | €45,749 | +€6,686 | +17.1% |
| Income taxes | 67/77 | €10,026 | €13,411 | +€3,385 | +33.8% |
| Profit (loss) for the period | 9904 | €29,037 | €32,338 | +€3,301 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,037 | €32,338 | +€3,301 | +11.4% |
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 29 October 2026 via checked.be.