VELIBRO: 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.
VELIBRO
Largest movements
- Tangible fixed assets -€15,420
down €15,420 (-4.1%), from €378,850 to €363,430
- Receivables within one year +€11,840
up €11,840 (+16.0%), from €74,019 to €85,859
of which Other amounts receivable: +€9,188
- Cash +€10,420
up €10,420 (+267%), from €3,907 to €14,327
mainly Depreciation (+€15,420) and Net result for the year (+€10,326)
- Reserves +€10,326
up €10,326 (+8.8%), from €117,253 to €127,579
of which Distributable reserves: +€15,843
- Tax, wage and social debts +€6,000
up €6,000 (+186%), from €3,220 to €9,220
- Other debts -€5,638
down €5,638 (-3.6%), from €154,957 to €149,320
- Gross operating margin +€23,392
up €23,392 (+207%), from €11,277 to €34,669
- Taxes +€7,448
up €7,448 (+1,263%), from €590 to €8,037
- Depreciation +€889
up €889 (+6.1%), from €14,531 to €15,420
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 | €462,076 | €470,213 | +€8,137 | +1.8% |
| Fixed assets | 21/28 | €378,850 | €363,430 | -€15,420 | -4.1% |
| Tangible fixed assets | 22/27 | €378,850 | €363,430 | -€15,420 | -4.1% |
| Land and buildings | 22 | €378,850 | €363,430 | -€15,420 | -4.1% |
| Current assets | 29/58 | €83,226 | €106,783 | +€23,556 | +28.3% |
| Amounts receivable within one year | 40/41 | €74,019 | €85,859 | +€11,840 | +16.0% |
| Trade receivables | 40 | - | €2,652 | +€2,652 | |
| Other amounts receivable | 41 | €74,019 | €83,207 | +€9,188 | +12.4% |
| Cash at bank and in hand | 54/58 | €3,907 | €14,327 | +€10,420 | +267% |
| Deferred charges and accrued income | 490/1 | €5,300 | €6,597 | +€1,297 | +24.5% |
| Total equity and liabilities | 10/49 | €462,076 | €470,213 | +€8,137 | +1.8% |
| Equity | 10/15 | €267,506 | €277,832 | +€10,326 | +3.9% |
| Contributions | 10/11 | €116,692 | €116,692 | = | 0.0% |
| Reserves | 13 | €117,253 | €127,579 | +€10,326 | +8.8% |
| Tax-exempt reserves | 132 | €99,715 | €94,198 | -€5,517 | -5.5% |
| Distributable reserves | 133 | €17,538 | €33,381 | +€15,843 | +90.3% |
| Profit (loss) carried forward | 14 | €33,561 | €33,561 | = | 0.0% |
| Provisions and deferred taxes | 16 | €33,238 | €31,399 | -€1,839 | -5.5% |
| Deferred taxes | 168 | €33,238 | €31,399 | -€1,839 | -5.5% |
| Amounts payable | 17/49 | €161,331 | €160,981 | -€350 | -0.2% |
| Amounts payable after more than one year | 17 | - | €1,200 | +€1,200 | |
| Other amounts payable | 178/9 | - | €1,200 | +€1,200 | |
| Amounts payable within one year | 42/48 | €161,331 | €159,675 | -€1,656 | -1.0% |
| Trade debts | 44 | €3,154 | €1,136 | -€2,018 | -64.0% |
| Suppliers | 440/4 | €3,154 | €1,136 | -€2,018 | -64.0% |
| Taxes, remuneration and social security | 45 | €3,220 | €9,220 | +€6,000 | +186% |
| Taxes | 450/3 | €3,220 | €9,220 | +€6,000 | +186% |
| Other amounts payable | 47/48 | €154,957 | €149,320 | -€5,638 | -3.6% |
| Accrued charges and deferred income | 492/3 | €0 | €106 | +€106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,531 | €15,420 | +€889 | +6.1% |
| Other operating charges | 640/8 | €2,742 | €2,762 | +€20 | +0.7% |
| Gross operating margin | 9900 | €11,277 | €34,669 | +€23,392 | +207% |
| Operating profit (loss) | 9901 | -€5,996 | €16,488 | +€22,483 | |
| Financial income | 75/76B | €100 | €101 | +€1 | +0.9% |
| Recurring financial income | 75 | €100 | €101 | +€1 | +0.9% |
| Financial charges | 65/66B | €50 | €65 | +€15 | +29.6% |
| Recurring financial charges | 65 | €50 | €65 | +€15 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,946 | €16,524 | +€22,470 | |
| Transfer from deferred taxes | 780 | €1,839 | €1,839 | = | 0.0% |
| Income taxes | 67/77 | €590 | €8,037 | +€7,448 | +1,263% |
| Profit (loss) for the period | 9904 | -€4,696 | €10,326 | +€15,022 | |
| Transfer from tax-exempt reserves | 789 | €5,517 | €5,517 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €821 | €15,843 | +€15,022 | +1,829% |
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 28 October 2026 via checked.be.