VELIPHAR: 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.
VELIPHAR
Largest movements
- Cash -€98,891
down €98,891 (-58.4%), from €169,474 to €70,583
mainly Contributions, distributions and other (-€198,200) and Other debts (-€17,749)
- Contributions -€115,200
down €115,200 (-85.2%), from €135,200 to €20,000
- Reserves +€30,700
up €30,700 (+8.0%), from €383,585 to €414,285
- Other debts -€17,749
down €17,749 (-5.3%), from €332,495 to €314,745
- Gross operating margin +€78,651
up €78,651 (+95.0%), from €82,780 to €161,431
- Taxes +€24,194
up €24,194 (+109%), from €22,200 to €46,393
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 | €893,776 | €787,313 | -€106,463 | -11.9% |
| Fixed assets | 21/28 | €716,000 | €716,000 | = | 0.0% |
| Financial fixed assets | 28 | €716,000 | €716,000 | = | 0.0% |
| Current assets | 29/58 | €177,776 | €71,313 | -€106,463 | -59.9% |
| Amounts receivable within one year | 40/41 | €8,286 | €730 | -€7,556 | -91.2% |
| Other amounts receivable | 41 | €8,286 | €730 | -€7,556 | -91.2% |
| Cash at bank and in hand | 54/58 | €169,474 | €70,583 | -€98,891 | -58.4% |
| Deferred charges and accrued income | 490/1 | €15 | - | -€15 | |
| Total equity and liabilities | 10/49 | €893,776 | €787,313 | -€106,463 | -11.9% |
| Equity | 10/15 | €525,046 | €440,546 | -€84,500 | -16.1% |
| Contributions | 10/11 | €135,200 | €20,000 | -€115,200 | -85.2% |
| Reserves | 13 | €383,585 | €414,285 | +€30,700 | +8.0% |
| Distributable reserves | 133 | €383,585 | €414,285 | +€30,700 | +8.0% |
| Profit (loss) carried forward | 14 | €6,261 | €6,261 | +€0 | 0.0% |
| Amounts payable | 17/49 | €368,730 | €346,767 | -€21,963 | -6.0% |
| Amounts payable within one year | 42/48 | €365,387 | €344,591 | -€20,796 | -5.7% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Credit institutions | 430/8 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €1,749 | €1,031 | -€718 | -41.0% |
| Suppliers | 440/4 | €1,749 | €1,031 | -€718 | -41.0% |
| Taxes, remuneration and social security | 45 | €16,143 | €13,815 | -€2,329 | -14.4% |
| Taxes | 450/3 | €13,389 | €10,543 | -€2,846 | -21.3% |
| Remuneration and social security | 454/9 | €2,754 | €3,271 | +€517 | +18.8% |
| Other amounts payable | 47/48 | €332,495 | €314,745 | -€17,749 | -5.3% |
| Accrued charges and deferred income | 492/3 | €3,343 | €2,176 | -€1,167 | -34.9% |
| Other operating charges | 640/8 | €132 | €459 | +€326 | +246% |
| Gross operating margin | 9900 | €82,780 | €161,431 | +€78,651 | +95.0% |
| Operating profit (loss) | 9901 | €82,648 | €160,973 | +€78,325 | +94.8% |
| Financial charges | 65/66B | €1,708 | €879 | -€829 | -48.5% |
| Recurring financial charges | 65 | €1,708 | €879 | -€829 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €80,940 | €160,094 | +€79,154 | +97.8% |
| Income taxes | 67/77 | €22,200 | €46,393 | +€24,194 | +109% |
| Profit (loss) for the period | 9904 | €58,740 | €113,700 | +€54,960 | +93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,740 | €113,700 | +€54,960 | +93.6% |
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 27 October 2026 via checked.be.