Vélo & Co: 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.
Vélo & Co
Largest movements
- Stocks and contracts +€15,380
up €15,380 (+32.3%), from €47,600 to €62,980
- Receivables within one year +€8,866
up €8,866 (+625%), from €1,420 to €10,286
of which Trade receivables: +€8,878
- Cash -€8,294
down €8,294 (-43.6%), from €19,015 to €10,721
mainly Stocks and contracts (-€15,380) and Receivables within one year (-€8,866)
- Tangible fixed assets -€3,819
down €3,819 (-25.4%), from €15,055 to €11,236
of which Furniture and vehicles: -€2,150
- Financial fixed assets -€2,979
down €2,979 (-39.0%), from €7,629 to €4,650
- Advances received +€6,580
new in 2025: €6,580
- Trade debts +€3,329
up €3,329 (+126%), from €2,650 to €5,979
- Tax, wage and social debts -€3,088
down €3,088 (-53.3%), from €5,788 to €2,700
- Reserves +€2,213
up €2,213 (+4.4%), from €49,965 to €52,178
of which Distributable reserves: +€2,213
- Gross operating margin +€4,917
up €4,917 (+34.3%), from €14,336 to €19,253
- Staff costs +€3,312
up €3,312 (+102%), from €3,234 to €6,545
- Other operating charges +€1,561
up €1,561 (+157%), from €994 to €2,555
- Depreciation +€531
up €531 (+16.2%), from €3,288 to €3,819
- Taxes -€306
down €306 (-12.3%), from €2,487 to €2,182
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.
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 | €92,832 | €101,320 | +€8,487 | +9.1% |
| Fixed assets | 21/28 | €22,684 | €15,886 | -€6,798 | -30.0% |
| Tangible fixed assets | 22/27 | €15,055 | €11,236 | -€3,819 | -25.4% |
| Plant, machinery and equipment | 23 | €1,774 | €829 | -€944 | -53.2% |
| Furniture and vehicles | 24 | €5,689 | €3,539 | -€2,150 | -37.8% |
| Other tangible fixed assets | 26 | €7,593 | €6,868 | -€725 | -9.5% |
| Financial fixed assets | 28 | €7,629 | €4,650 | -€2,979 | -39.0% |
| Current assets | 29/58 | €70,148 | €85,433 | +€15,285 | +21.8% |
| Stocks and contracts in progress | 3 | €47,600 | €62,980 | +€15,380 | +32.3% |
| Stocks | 30/36 | €47,600 | €62,980 | +€15,380 | +32.3% |
| Amounts receivable within one year | 40/41 | €1,420 | €10,286 | +€8,866 | +625% |
| Trade receivables | 40 | €1,408 | €10,286 | +€8,878 | +631% |
| Other amounts receivable | 41 | €12 | - | -€12 | |
| Cash at bank and in hand | 54/58 | €19,015 | €10,721 | -€8,294 | -43.6% |
| Deferred charges and accrued income | 490/1 | €2,114 | €1,447 | -€668 | -31.6% |
| Total equity and liabilities | 10/49 | €92,832 | €101,320 | +€8,487 | +9.1% |
| Equity | 10/15 | €83,453 | €85,667 | +€2,213 | +2.7% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €49,965 | €52,178 | +€2,213 | +4.4% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Distributable reserves | 133 | €47,865 | €50,078 | +€2,213 | +4.6% |
| Profit (loss) carried forward | 14 | €12,489 | €12,489 | = | 0.0% |
| Amounts payable | 17/49 | €9,379 | €15,653 | +€6,274 | +66.9% |
| Amounts payable within one year | 42/48 | €9,379 | €15,653 | +€6,274 | +66.9% |
| Trade debts | 44 | €2,650 | €5,979 | +€3,329 | +126% |
| Suppliers | 440/4 | €2,650 | €5,979 | +€3,329 | +126% |
| Advances received on contracts in progress | 46 | - | €6,580 | +€6,580 | |
| Taxes, remuneration and social security | 45 | €5,788 | €2,700 | -€3,088 | -53.3% |
| Taxes | 450/3 | €5,788 | €2,700 | -€3,088 | -53.3% |
| Other amounts payable | 47/48 | €941 | €394 | -€547 | -58.2% |
| Remuneration, social security and pensions | 62 | €3,234 | €6,545 | +€3,312 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,288 | €3,819 | +€531 | +16.2% |
| Other operating charges | 640/8 | €994 | €2,555 | +€1,561 | +157% |
| Gross operating margin | 9900 | €14,336 | €19,253 | +€4,917 | +34.3% |
| Operating profit (loss) | 9901 | €6,820 | €6,333 | -€487 | -7.1% |
| Financial income | 75/76B | €280 | €137 | -€144 | -51.3% |
| Recurring financial income | 75 | €280 | €137 | -€144 | -51.3% |
| Financial charges | 65/66B | €2,059 | €2,075 | +€16 | +0.8% |
| Recurring financial charges | 65 | €2,059 | €2,075 | +€16 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €5,041 | €4,395 | -€646 | -12.8% |
| Income taxes | 67/77 | €2,487 | €2,182 | -€306 | -12.3% |
| Profit (loss) for the period | 9904 | €2,553 | €2,213 | -€340 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,553 | €2,213 | -€340 | -13.3% |
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 21 October 2026 via checked.be.