VELGO ENGINEERING: 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.
VELGO ENGINEERING
Largest movements
- Receivables within one year +€24,631
up €24,631 (+1,444%), from €1,706 to €26,337
of which Trade receivables: +€23,730
- Trade debts +€36,298
up €36,298 (+244%), from €14,858 to €51,156
- Other debts -€10,115
down €10,115 (-19.8%), from €51,129 to €41,014
- Reserves +€7,025
up €7,025 (+2.2%), from €325,257 to €332,282
of which Distributable reserves: +€7,025
- Tax, wage and social debts -€6,094
down €6,094 (-59.7%), from €10,207 to €4,113
of which Taxes: -€3,223
- Other operating charges +€7,272
up €7,272 (+512%), from €1,422 to €8,694
- Gross operating margin +€6,786
up €6,786 (+57.1%), from €11,893 to €18,679
- Taxes +€1,907
up €1,907 (+37.9%), from €5,034 to €6,941
- Financial income -€1,380
down €1,380 (-13.1%), from €10,540 to €9,160
- Financial charges -€1,365
down €1,365 (-27.4%), from €4,982 to €3,617
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 | €437,522 | €463,037 | +€25,514 | +5.8% |
| Fixed assets | 21/28 | €6,248 | €4,687 | -€1,562 | -25.0% |
| Tangible fixed assets | 22/27 | €6,248 | €4,687 | -€1,562 | -25.0% |
| Plant, machinery and equipment | 23 | €6,248 | €4,687 | -€1,562 | -25.0% |
| Current assets | 29/58 | €431,274 | €458,350 | +€27,076 | +6.3% |
| Amounts receivable within one year | 40/41 | €1,706 | €26,337 | +€24,631 | +1,444% |
| Trade receivables | 40 | €1,706 | €25,436 | +€23,730 | +1,391% |
| Other amounts receivable | 41 | - | €901 | +€901 | |
| Cash at bank and in hand | 54/58 | €424,697 | €427,026 | +€2,329 | +0.5% |
| Deferred charges and accrued income | 490/1 | €4,871 | €4,987 | +€116 | +2.4% |
| Total equity and liabilities | 10/49 | €437,522 | €463,037 | +€25,514 | +5.8% |
| Equity | 10/15 | €358,857 | €365,882 | +€7,025 | +2.0% |
| Contributions | 10/11 | €33,600 | €33,600 | = | 0.0% |
| Reserves | 13 | €325,257 | €332,282 | +€7,025 | +2.2% |
| Non-distributable reserves | 130/1 | €16,248 | €16,248 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,248 | €16,248 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,899 | €10,899 | = | 0.0% |
| Distributable reserves | 133 | €298,111 | €305,136 | +€7,025 | +2.4% |
| Amounts payable | 17/49 | €78,665 | €97,155 | +€18,489 | +23.5% |
| Amounts payable within one year | 42/48 | €76,194 | €96,283 | +€20,089 | +26.4% |
| Trade debts | 44 | €14,858 | €51,156 | +€36,298 | +244% |
| Suppliers | 440/4 | €14,858 | €51,156 | +€36,298 | +244% |
| Taxes, remuneration and social security | 45 | €10,207 | €4,113 | -€6,094 | -59.7% |
| Taxes | 450/3 | €7,336 | €4,113 | -€3,223 | -43.9% |
| Remuneration and social security | 454/9 | €2,870 | - | -€2,870 | |
| Other amounts payable | 47/48 | €51,129 | €41,014 | -€10,115 | -19.8% |
| Accrued charges and deferred income | 492/3 | €2,472 | €872 | -€1,600 | -64.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,927 | €1,562 | -€366 | -19.0% |
| Other operating charges | 640/8 | €1,422 | €8,694 | +€7,272 | +512% |
| Gross operating margin | 9900 | €11,893 | €18,679 | +€6,786 | +57.1% |
| Operating profit (loss) | 9901 | €8,544 | €8,423 | -€121 | -1.4% |
| Financial income | 75/76B | €10,540 | €9,160 | -€1,380 | -13.1% |
| Recurring financial income | 75 | €10,540 | €9,160 | -€1,380 | -13.1% |
| Financial charges | 65/66B | €4,982 | €3,617 | -€1,365 | -27.4% |
| Recurring financial charges | 65 | €4,982 | €3,617 | -€1,365 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €14,102 | €13,966 | -€136 | -1.0% |
| Income taxes | 67/77 | €5,034 | €6,941 | +€1,907 | +37.9% |
| Profit (loss) for the period | 9904 | €9,068 | €7,025 | -€2,043 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,068 | €7,025 | -€2,043 | -22.5% |
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.