VELO Consult: 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.
VELO Consult
Largest movements
- Current investments +€80,000
up €80,000 (+160%), from €50,000 to €130,000
- Cash -€26,094
down €26,094 (-21.5%), from €121,306 to €95,212
mainly Current investments (-€80,000) and Receivables after one year (-€19,170)
- Deferred charges and accrued income -€22,950
down €22,950 (-89.6%), from €25,613 to €2,663
- Receivables after one year +€19,170
up €19,170 (+117%), from €16,316 to €35,486
- Receivables within one year -€12,641
down €12,641 (-67.1%), from €18,853 to €6,212
of which Trade receivables: -€18,067
- Reserves +€37,026
up €37,026 (+18.0%), from €206,087 to €243,113
- Gross operating margin -€216,951
down €216,951 (-79.1%), from €274,390 to €57,438
- Taxes -€51,907
down €51,907 (-78.1%), from €66,481 to €14,574
- Financial charges +€3,488
up €3,488 (+417%), from €837 to €4,325
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 | €234,673 | €271,750 | +€37,077 | +15.8% |
| Fixed assets | 21/28 | €2,585 | €2,177 | -€408 | -15.8% |
| Tangible fixed assets | 22/27 | €2,585 | €2,177 | -€408 | -15.8% |
| Plant, machinery and equipment | 23 | €2,585 | €2,177 | -€408 | -15.8% |
| Current assets | 29/58 | €232,088 | €269,573 | +€37,485 | +16.2% |
| Amounts receivable after more than one year | 29 | €16,316 | €35,486 | +€19,170 | +117% |
| Other amounts receivable | 291 | €16,316 | €35,486 | +€19,170 | +117% |
| Amounts receivable within one year | 40/41 | €18,853 | €6,212 | -€12,641 | -67.1% |
| Trade receivables | 40 | €18,853 | €786 | -€18,067 | -95.8% |
| Other amounts receivable | 41 | - | €5,426 | +€5,426 | |
| Current investments | 50/53 | €50,000 | €130,000 | +€80,000 | +160% |
| Cash at bank and in hand | 54/58 | €121,306 | €95,212 | -€26,094 | -21.5% |
| Deferred charges and accrued income | 490/1 | €25,613 | €2,663 | -€22,950 | -89.6% |
| Total equity and liabilities | 10/49 | €234,673 | €271,750 | +€37,077 | +15.8% |
| Equity | 10/15 | €208,087 | €245,113 | +€37,026 | +17.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €206,087 | €243,113 | +€37,026 | +18.0% |
| Distributable reserves | 133 | €206,087 | €243,113 | +€37,026 | +18.0% |
| Amounts payable | 17/49 | €26,586 | €26,636 | +€51 | +0.2% |
| Amounts payable within one year | 42/48 | €25,740 | €25,987 | +€246 | +1.0% |
| Trade debts | 44 | €2,650 | €1,148 | -€1,502 | -56.7% |
| Suppliers | 440/4 | €2,650 | €1,148 | -€1,502 | -56.7% |
| Taxes, remuneration and social security | 45 | €23,090 | €24,839 | +€1,749 | +7.6% |
| Taxes | 450/3 | €23,090 | €24,839 | +€1,749 | +7.6% |
| Accrued charges and deferred income | 492/3 | €845 | €650 | -€196 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,281 | €1,564 | +€283 | +22.1% |
| Other operating charges | 640/8 | €178 | €983 | +€805 | +452% |
| Gross operating margin | 9900 | €274,390 | €57,438 | -€216,951 | -79.1% |
| Operating profit (loss) | 9901 | €272,930 | €54,891 | -€218,039 | -79.9% |
| Financial income | 75/76B | €475 | €1,034 | +€558 | +117% |
| Recurring financial income | 75 | €475 | €1,034 | +€558 | +117% |
| Financial charges | 65/66B | €837 | €4,325 | +€3,488 | +417% |
| Recurring financial charges | 65 | €837 | €4,325 | +€3,488 | +417% |
| Profit (loss) for the period before taxes | 9903 | €272,569 | €51,600 | -€220,969 | -81.1% |
| Income taxes | 67/77 | €66,481 | €14,574 | -€51,907 | -78.1% |
| Profit (loss) for the period | 9904 | €206,087 | €37,026 | -€169,062 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €206,087 | €37,026 | -€169,062 | -82.0% |
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 1 November 2026 via checked.be.