VELINCK: 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.
VELINCK
Largest movements
- Cash -€146,840
down €146,840 (-93.8%), from €156,588 to €9,748
mainly Contributions, distributions and other (-€220,000) and Other debts (-€80,000)
- Deferred charges and accrued income +€17,271
up €17,271 (+20,052%), from €86 to €17,357
- Receivables within one year +€10,360
up €10,360 (+3.0%), from €349,966 to €360,326
of which Trade receivables: +€57,397
- Tangible fixed assets +€8,248
up €8,248 (+369%), from €2,237 to €10,485
- Other debts -€80,000
down €80,000 (-26.7%), from €300,000 to €220,000
- Tax, wage and social debts -€39,354
down €39,354 (-29.7%), from €132,363 to €93,009
- Reserves +€7,827
up €7,827 (+66.8%), from €11,719 to €19,546
of which Distributable reserves: +€7,827
- Gross operating margin -€107,181
down €107,181 (-26.3%), from €407,585 to €300,403
- Taxes -€26,497
down €26,497 (-23.5%), from €112,969 to €86,472
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 | €508,878 | €397,917 | -€110,961 | -21.8% |
| Fixed assets | 21/28 | €2,237 | €10,485 | +€8,248 | +369% |
| Tangible fixed assets | 22/27 | €2,237 | €10,485 | +€8,248 | +369% |
| Furniture and vehicles | 24 | €2,237 | €10,485 | +€8,248 | +369% |
| Current assets | 29/58 | €506,640 | €387,432 | -€119,209 | -23.5% |
| Amounts receivable within one year | 40/41 | €349,966 | €360,326 | +€10,360 | +3.0% |
| Trade receivables | 40 | €52,716 | €110,112 | +€57,397 | +109% |
| Other amounts receivable | 41 | €297,251 | €250,214 | -€47,037 | -15.8% |
| Cash at bank and in hand | 54/58 | €156,588 | €9,748 | -€146,840 | -93.8% |
| Deferred charges and accrued income | 490/1 | €86 | €17,357 | +€17,271 | +20,052% |
| Total equity and liabilities | 10/49 | €508,878 | €397,917 | -€110,961 | -21.8% |
| Equity | 10/15 | €73,719 | €81,546 | +€7,827 | +10.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €11,719 | €19,546 | +€7,827 | +66.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €5,519 | €13,346 | +€7,827 | +142% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €435,159 | €316,371 | -€118,787 | -27.3% |
| Amounts payable within one year | 42/48 | €435,159 | €316,371 | -€118,787 | -27.3% |
| Trade debts | 44 | €2,795 | €3,362 | +€567 | +20.3% |
| Suppliers | 440/4 | €2,795 | €3,362 | +€567 | +20.3% |
| Taxes, remuneration and social security | 45 | €132,363 | €93,009 | -€39,354 | -29.7% |
| Taxes | 450/3 | €132,363 | €93,009 | -€39,354 | -29.7% |
| Other amounts payable | 47/48 | €300,000 | €220,000 | -€80,000 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €1,145 | +€933 | +440% |
| Other operating charges | 640/8 | €826 | €734 | -€92 | -11.2% |
| Gross operating margin | 9900 | €407,585 | €300,403 | -€107,181 | -26.3% |
| Operating profit (loss) | 9901 | €406,547 | €298,525 | -€108,022 | -26.6% |
| Financial income | 75/76B | €14,508 | €16,170 | +€1,662 | +11.5% |
| Recurring financial income | 75 | €14,508 | €16,170 | +€1,662 | +11.5% |
| Financial charges | 65/66B | €569 | €396 | -€172 | -30.3% |
| Recurring financial charges | 65 | €569 | €396 | -€172 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €420,487 | €314,299 | -€106,188 | -25.3% |
| Income taxes | 67/77 | €112,969 | €86,472 | -€26,497 | -23.5% |
| Profit (loss) for the period | 9904 | €307,517 | €227,827 | -€79,691 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €307,517 | €227,827 | -€79,691 | -25.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.