Vellamo: 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.
Vellamo
Largest movements
- Receivables within one year +€23,133
up €23,133 (+194%), from €11,938 to €35,070
of which Trade receivables: +€23,128
- Cash -€21,606
down €21,606 (-92.8%), from €23,277 to €1,671
mainly Contributions, distributions and other (-€57,607) and Receivables within one year (-€23,133)
- Tangible fixed assets -€3,876
down €3,876 (-11.8%), from €32,900 to €29,025
- Other debts -€11,856
down €11,856 (-20.5%), from €57,850 to €45,994
- Tax, wage and social debts +€9,577
up €9,577 (+192%), from €5,000 to €14,578
- Gross operating margin +€4,192
up €4,192 (+5.5%), from €76,505 to €80,697
- Depreciation +€2,181
up €2,181 (+40.3%), from €5,413 to €7,594
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 | €68,294 | €66,375 | -€1,919 | -2.8% |
| Fixed assets | 21/28 | €32,900 | €29,025 | -€3,876 | -11.8% |
| Tangible fixed assets | 22/27 | €32,900 | €29,025 | -€3,876 | -11.8% |
| Furniture and vehicles | 24 | €32,900 | €29,025 | -€3,876 | -11.8% |
| Current assets | 29/58 | €35,394 | €37,351 | +€1,957 | +5.5% |
| Amounts receivable within one year | 40/41 | €11,938 | €35,070 | +€23,133 | +194% |
| Trade receivables | 40 | €11,938 | €35,066 | +€23,128 | +194% |
| Other amounts receivable | 41 | - | €4 | +€4 | |
| Cash at bank and in hand | 54/58 | €23,277 | €1,671 | -€21,606 | -92.8% |
| Deferred charges and accrued income | 490/1 | €179 | €610 | +€431 | +241% |
| Total equity and liabilities | 10/49 | €68,294 | €66,375 | -€1,919 | -2.8% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €63,294 | €61,375 | -€1,919 | -3.0% |
| Amounts payable within one year | 42/48 | €63,294 | €61,375 | -€1,919 | -3.0% |
| Financial debts | 43 | - | €69 | +€69 | |
| Credit institutions | 430/8 | - | €69 | +€69 | |
| Trade debts | 44 | €444 | €735 | +€290 | +65.3% |
| Suppliers | 440/4 | €444 | €735 | +€290 | +65.3% |
| Taxes, remuneration and social security | 45 | €5,000 | €14,578 | +€9,577 | +192% |
| Taxes | 450/3 | €5,000 | €14,578 | +€9,577 | +192% |
| Other amounts payable | 47/48 | €57,850 | €45,994 | -€11,856 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,413 | €7,594 | +€2,181 | +40.3% |
| Other operating charges | 640/8 | €182 | €170 | -€12 | -6.5% |
| Gross operating margin | 9900 | €76,505 | €80,697 | +€4,192 | +5.5% |
| Operating profit (loss) | 9901 | €70,911 | €72,933 | +€2,022 | +2.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €61 | €57 | -€4 | -6.0% |
| Recurring financial charges | 65 | €61 | €57 | -€4 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €70,850 | €72,876 | +€2,026 | +2.9% |
| Income taxes | 67/77 | €14,680 | €15,269 | +€589 | +4.0% |
| Profit (loss) for the period | 9904 | €56,170 | €57,607 | +€1,437 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,170 | €57,607 | +€1,437 | +2.6% |
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 13 October 2026 via checked.be.