VELLE N.: 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.
VELLE N.
Largest movements
- Receivables after one year -€11,079
down €11,079 (-34.3%), from €32,337 to €21,258
- Tangible fixed assets -€1,230
down €1,230 (-25.3%), from €4,866 to €3,636
of which Furniture and vehicles: -€802
- Cash -€544
down €544 (-62.3%), from €873 to €329
mainly Contributions, distributions and other (-€10,000) and Trade debts (-€1,291)
- Receivables within one year +€418
new in 2025: €418
- Reserves -€10,877
down €10,877 (-55.1%), from €19,734 to €8,857
of which Distributable reserves: -€10,877
- Trade debts -€1,291
no longer reported in 2025 (was €1,291)
- Tax, wage and social debts -€490
down €490 (-57.4%), from €854 to €363
- Gross operating margin -€3,120
down €3,120 (-63.7%), from €4,895 to €1,775
- Taxes -€974
down €974 (-66.9%), from €1,456 to €482
- Depreciation +€767
up €767 (+165.8%), from €463 to €1,230
- Other operating charges -€121
down €121 (-13.6%), from €889 to €768
- Financial charges +€96
up €96 (+123.2%), from €78 to €173
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 | €38,076 | €25,641 | -€12,434 | -32.7% |
| Fixed assets | 21/28 | €4,866 | €3,636 | -€1,230 | -25.3% |
| Tangible fixed assets | 22/27 | €4,866 | €3,636 | -€1,230 | -25.3% |
| Plant, machinery and equipment | 23 | €891 | €463 | -€428 | -48.0% |
| Furniture and vehicles | 24 | €3,975 | €3,173 | -€802 | -20.2% |
| Current assets | 29/58 | €33,210 | €22,005 | -€11,205 | -33.7% |
| Amounts receivable after more than one year | 29 | €32,337 | €21,258 | -€11,079 | -34.3% |
| Other amounts receivable | 291 | €32,337 | €21,258 | -€11,079 | -34.3% |
| Amounts receivable within one year | 40/41 | - | €418 | +€418 | |
| Other amounts receivable | 41 | - | €418 | +€418 | |
| Cash at bank and in hand | 54/58 | €873 | €329 | -€544 | -62.3% |
| Total equity and liabilities | 10/49 | €38,076 | €25,641 | -€12,434 | -32.7% |
| Equity | 10/15 | €25,931 | €15,054 | -€10,877 | -41.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €19,734 | €8,857 | -€10,877 | -55.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,049 | €2,049 | = | 0.0% |
| Distributable reserves | 133 | €15,826 | €4,948 | -€10,877 | -68.7% |
| Amounts payable | 17/49 | €12,144 | €10,587 | -€1,557 | -12.8% |
| Amounts payable within one year | 42/48 | €12,144 | €10,587 | -€1,557 | -12.8% |
| Financial debts | 43 | - | €224 | +€224 | |
| Credit institutions | 430/8 | - | €224 | +€224 | |
| Trade debts | 44 | €1,291 | - | -€1,291 | |
| Suppliers | 440/4 | €1,291 | - | -€1,291 | |
| Taxes, remuneration and social security | 45 | €854 | €363 | -€490 | -57.4% |
| Taxes | 450/3 | €854 | €363 | -€490 | -57.4% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €463 | €1,230 | +€767 | +165.8% |
| Other operating charges | 640/8 | €889 | €768 | -€121 | -13.6% |
| Gross operating margin | 9900 | €4,895 | €1,775 | -€3,120 | -63.7% |
| Operating profit (loss) | 9901 | €3,543 | -€222 | -€3,766 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €78 | €173 | +€96 | +123.2% |
| Recurring financial charges | 65 | €78 | €173 | +€96 | +123.2% |
| Profit (loss) for the period before taxes | 9903 | €3,466 | -€395 | -€3,861 | |
| Income taxes | 67/77 | €1,456 | €482 | -€974 | -66.9% |
| Profit (loss) for the period | 9904 | €2,010 | -€877 | -€2,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,010 | -€877 | -€2,887 |
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 11 October 2026 via checked.be.