VELOFINESSE: what changed
Two fiscal 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.
VELOFINESSE
Largest movements
- Cash +€20,335
up €20,335 (+123.3%), from €16,496 to €36,831
mainly Net result for the year (+€19,851) and Current portion of long-term debt (+€12,274)
- Tangible fixed assets -€10,965
down €10,965 (-70.6%), from €15,524 to €4,559
of which Furniture and vehicles: -€6,607
- Receivables within one year +€6,565
up €6,565 (+14.9%), from €44,082 to €50,646
of which Trade receivables: +€5,891
- Stocks and contracts +€4,538
up €4,538 (+10.7%), from €42,564 to €47,102
- Deferred charges and accrued income +€2,032
up €2,032 (+419.7%), from €484 to €2,516
- Profit (loss) carried forward +€19,851
up €19,851 (+67.8%), from €29,277 to €49,128
- Current portion of long-term debt +€12,274
new in 2025: €12,274
- Debts after one year -€12,193
down €12,193 (-45.1%), from €27,041 to €14,848
- Trade debts -€9,875
down €9,875 (-71.0%), from €13,902 to €4,027
- Tax, wage and social debts +€8,501
up €8,501 (+83.8%), from €10,148 to €18,649
of which Taxes: +€11,998
- Financial charges -€67,950
down €67,950 (-98.2%), from €69,170 to €1,220
- Gross operating margin -€55,893
down €55,893 (-58.5%), from €95,514 to €39,621
- Depreciation -€11,448
down €11,448 (-51.1%), from €22,413 to €10,965
- Taxes +€5,219
up €5,219 (+426.5%), from €1,224 to €6,443
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 | €119,450 | €141,956 | +€22,505 | +18.8% |
| Fixed assets | 21/28 | €15,824 | €4,859 | -€10,965 | -69.3% |
| Tangible fixed assets | 22/27 | €15,524 | €4,559 | -€10,965 | -70.6% |
| Plant, machinery and equipment | 23 | €8,917 | €4,559 | -€4,357 | -48.9% |
| Furniture and vehicles | 24 | €6,607 | €0 | -€6,607 | -100.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €103,626 | €137,096 | +€33,470 | +32.3% |
| Stocks and contracts in progress | 3 | €42,564 | €47,102 | +€4,538 | +10.7% |
| Stocks | 30/36 | €42,564 | €47,102 | +€4,538 | +10.7% |
| Amounts receivable within one year | 40/41 | €44,082 | €50,646 | +€6,565 | +14.9% |
| Trade receivables | 40 | €44,082 | €49,973 | +€5,891 | +13.4% |
| Other amounts receivable | 41 | - | €674 | +€674 | |
| Cash at bank and in hand | 54/58 | €16,496 | €36,831 | +€20,335 | +123.3% |
| Deferred charges and accrued income | 490/1 | €484 | €2,516 | +€2,032 | +419.7% |
| Total equity and liabilities | 10/49 | €119,450 | €141,956 | +€22,505 | +18.8% |
| Equity | 10/15 | €41,677 | €61,528 | +€19,851 | +47.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,277 | €49,128 | +€19,851 | +67.8% |
| Amounts payable | 17/49 | €77,773 | €80,428 | +€2,655 | +3.4% |
| Amounts payable after more than one year | 17 | €27,041 | €14,848 | -€12,193 | -45.1% |
| Financial debts | 170/4 | €27,041 | €14,848 | -€12,193 | -45.1% |
| Amounts payable within one year | 42/48 | €49,232 | €64,080 | +€14,848 | +30.2% |
| Current portion of amounts payable after more than one year | 42 | - | €12,274 | +€12,274 | |
| Trade debts | 44 | €13,902 | €4,027 | -€9,875 | -71.0% |
| Suppliers | 440/4 | €13,902 | €4,027 | -€9,875 | -71.0% |
| Taxes, remuneration and social security | 45 | €10,148 | €18,649 | +€8,501 | +83.8% |
| Taxes | 450/3 | €6,650 | €18,649 | +€11,998 | +180.4% |
| Remuneration and social security | 454/9 | €3,498 | €0 | -€3,498 | -100.0% |
| Other amounts payable | 47/48 | €25,183 | €29,130 | +€3,948 | +15.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €14,463 | +€14,463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,413 | €10,965 | -€11,448 | -51.1% |
| Other operating charges | 640/8 | €437 | €1,299 | +€862 | +197.0% |
| Gross operating margin | 9900 | €95,514 | €39,621 | -€55,893 | -58.5% |
| Operating profit (loss) | 9901 | €72,664 | €27,358 | -€45,307 | -62.4% |
| Financial income | 75/76B | €254 | €156 | -€98 | -38.5% |
| Recurring financial income | 75 | €254 | €156 | -€98 | -38.5% |
| Financial charges | 65/66B | €69,170 | €1,220 | -€67,950 | -98.2% |
| Recurring financial charges | 65 | €69,170 | €1,220 | -€67,950 | -98.2% |
| Profit (loss) for the period before taxes | 9903 | €3,749 | €26,294 | +€22,545 | +601.4% |
| Income taxes | 67/77 | €1,224 | €6,443 | +€5,219 | +426.5% |
| Profit (loss) for the period | 9904 | €2,525 | €19,851 | +€17,326 | +686.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,525 | €19,851 | +€17,326 | +686.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.