VELICS: 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.
VELICS
Largest movements
- Cash +€82,830
up €82,830 (+74.1%), from €111,797 to €194,627
mainly Other debts (+€82,297) and Depreciation (+€41,758)
- Tangible fixed assets -€73,907
down €73,907 (-17.5%), from €422,489 to €348,583
of which Furniture and vehicles: -€37,047
- Receivables within one year -€17,952
down €17,952 (-53.3%), from €33,692 to €15,740
of which Trade receivables: -€9,336
- Other debts +€82,297
new in 2025: €82,297
- Reserves -€70,567
down €70,567 (-40.6%), from €173,654 to €103,088
of which Distributable reserves: -€70,567
- Debts after one year -€18,292
down €18,292 (-7.9%), from €230,239 to €211,947
- Current portion of long-term debt -€13,298
down €13,298 (-42.1%), from €31,590 to €18,292
- Tax, wage and social debts +€10,076
up €10,076 (+136.2%), from €7,399 to €17,474
- Gross operating margin +€9,154
up €9,154 (+14.2%), from €64,689 to €73,843
- Depreciation -€5,905
down €5,905 (-12.4%), from €47,663 to €41,758
- Taxes +€3,389
up €3,389 (+92.6%), from €3,662 to €7,051
- Other operating charges +€3,320
up €3,320 (+114.4%), from €2,903 to €6,223
- Financial charges -€943
down €943 (-15.4%), from €6,125 to €5,182
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.
Cash bridge derived
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 | €569,526 | €559,727 | -€9,798 | -1.7% |
| Fixed assets | 21/28 | €422,489 | €348,583 | -€73,907 | -17.5% |
| Tangible fixed assets | 22/27 | €422,489 | €348,583 | -€73,907 | -17.5% |
| Plant, machinery and equipment | 23 | €3,459 | €2,827 | -€631 | -18.3% |
| Furniture and vehicles | 24 | €51,412 | €14,366 | -€37,047 | -72.1% |
| Leasing and similar rights | 25 | €320,793 | €296,388 | -€24,405 | -7.6% |
| Other tangible fixed assets | 26 | €46,825 | €35,002 | -€11,823 | -25.2% |
| Current assets | 29/58 | €147,036 | €211,145 | +€64,108 | +43.6% |
| Amounts receivable within one year | 40/41 | €33,692 | €15,740 | -€17,952 | -53.3% |
| Trade receivables | 40 | €25,076 | €15,740 | -€9,336 | -37.2% |
| Other amounts receivable | 41 | €8,616 | €0 | -€8,616 | -100.0% |
| Cash at bank and in hand | 54/58 | €111,797 | €194,627 | +€82,830 | +74.1% |
| Deferred charges and accrued income | 490/1 | €1,547 | €778 | -€769 | -49.7% |
| Total equity and liabilities | 10/49 | €569,526 | €559,727 | -€9,798 | -1.7% |
| Equity | 10/15 | €292,397 | €221,989 | -€70,408 | -24.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €173,654 | €103,088 | -€70,567 | -40.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €171,794 | €101,228 | -€70,567 | -41.1% |
| Profit (loss) carried forward | 14 | €112,542 | €112,701 | +€158 | +0.1% |
| Amounts payable | 17/49 | €277,129 | €337,739 | +€60,610 | +21.9% |
| Amounts payable after more than one year | 17 | €230,239 | €211,947 | -€18,292 | -7.9% |
| Financial debts | 170/4 | €230,239 | €211,947 | -€18,292 | -7.9% |
| Amounts payable within one year | 42/48 | €41,139 | €120,227 | +€79,088 | +192.2% |
| Current portion of amounts payable after more than one year | 42 | €31,590 | €18,292 | -€13,298 | -42.1% |
| Trade debts | 44 | €2,150 | €2,164 | +€13 | +0.6% |
| Suppliers | 440/4 | €2,150 | €2,164 | +€13 | +0.6% |
| Taxes, remuneration and social security | 45 | €7,399 | €17,474 | +€10,076 | +136.2% |
| Taxes | 450/3 | €7,399 | €17,474 | +€10,076 | +136.2% |
| Other amounts payable | 47/48 | - | €82,297 | +€82,297 | |
| Accrued charges and deferred income | 492/3 | €5,751 | €5,564 | -€187 | -3.2% |
| Remuneration, social security and pensions | 62 | €97 | €82 | -€16 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,663 | €41,758 | -€5,905 | -12.4% |
| Other operating charges | 640/8 | €2,903 | €6,223 | +€3,320 | +114.4% |
| Gross operating margin | 9900 | €64,689 | €73,843 | +€9,154 | +14.2% |
| Operating profit (loss) | 9901 | €14,026 | €25,780 | +€11,755 | +83.8% |
| Financial income | 75/76B | €462 | €611 | +€149 | +32.3% |
| Recurring financial income | 75 | €462 | €611 | +€149 | +32.3% |
| Financial charges | 65/66B | €6,125 | €5,182 | -€943 | -15.4% |
| Recurring financial charges | 65 | €6,125 | €5,182 | -€943 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €8,363 | €21,209 | +€12,847 | +153.6% |
| Income taxes | 67/77 | €3,662 | €7,051 | +€3,389 | +92.6% |
| Profit (loss) for the period | 9904 | €4,701 | €14,158 | +€9,457 | +201.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,701 | €14,158 | +€9,457 | +201.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.