VELOHUYS: 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.
VELOHUYS
Largest movements
- Stocks and contracts +€43,515
up €43,515 (+13.3%), from €328,320 to €371,835
- Tangible fixed assets -€17,605
down €17,605 (-6.7%), from €261,910 to €244,305
of which Land and buildings: -€18,753
- Receivables within one year -€9,567
down €9,567 (-5.0%), from €189,702 to €180,135
of which Trade receivables: -€14,524
- Debts after one year -€28,153
down €28,153 (-6.7%), from €422,238 to €394,085
- Accrued charges and deferred income +€21,270
up €21,270 (+82.5%), from €25,796 to €47,066
- Profit (loss) carried forward +€19,622
up €19,622 (+7.0%), from €278,478 to €298,100
- Gross operating margin -€31,443
down €31,443 (-22.8%), from €137,790 to €106,348
- Depreciation -€9,186
down €9,186 (-31.1%), from €29,569 to €20,382
- Taxes -€4,957
down €4,957 (-23.4%), from €21,212 to €16,254
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 | €882,325 | €900,264 | +€17,939 | +2.0% |
| Fixed assets | 21/28 | €262,015 | €244,410 | -€17,605 | -6.7% |
| Tangible fixed assets | 22/27 | €261,910 | €244,305 | -€17,605 | -6.7% |
| Land and buildings | 22 | €261,910 | €243,157 | -€18,753 | -7.2% |
| Plant, machinery and equipment | 23 | - | €1,148 | +€1,148 | |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €620,310 | €655,854 | +€35,544 | +5.7% |
| Stocks and contracts in progress | 3 | €328,320 | €371,835 | +€43,515 | +13.3% |
| Stocks | 30/36 | €328,320 | €371,835 | +€43,515 | +13.3% |
| Amounts receivable within one year | 40/41 | €189,702 | €180,135 | -€9,567 | -5.0% |
| Trade receivables | 40 | €180,913 | €166,389 | -€14,524 | -8.0% |
| Other amounts receivable | 41 | €8,788 | €13,746 | +€4,957 | +56.4% |
| Cash at bank and in hand | 54/58 | €102,288 | €103,884 | +€1,596 | +1.6% |
| Total equity and liabilities | 10/49 | €882,325 | €900,264 | +€17,939 | +2.0% |
| Equity | 10/15 | €298,938 | €318,560 | +€19,622 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278,478 | €298,100 | +€19,622 | +7.0% |
| Amounts payable | 17/49 | €583,386 | €581,704 | -€1,683 | -0.3% |
| Amounts payable after more than one year | 17 | €422,238 | €394,085 | -€28,153 | -6.7% |
| Financial debts | 170/4 | €422,238 | €394,085 | -€28,153 | -6.7% |
| Amounts payable within one year | 42/48 | €135,353 | €140,553 | +€5,200 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €27,658 | €28,153 | +€495 | +1.8% |
| Financial debts | 43 | €17,500 | €25,000 | +€7,500 | +42.9% |
| Credit institutions | 430/8 | €17,500 | €25,000 | +€7,500 | +42.9% |
| Trade debts | 44 | €6,120 | €849 | -€5,271 | -86.1% |
| Suppliers | 440/4 | €6,120 | €849 | -€5,271 | -86.1% |
| Taxes, remuneration and social security | 45 | €14,984 | €17,460 | +€2,476 | +16.5% |
| Taxes | 450/3 | €1,932 | €5,291 | +€3,359 | +174% |
| Remuneration and social security | 454/9 | €13,052 | €12,169 | -€883 | -6.8% |
| Other amounts payable | 47/48 | €69,091 | €69,091 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €25,796 | €47,066 | +€21,270 | +82.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,569 | €20,382 | -€9,186 | -31.1% |
| Other operating charges | 640/8 | €2,070 | €2,134 | +€64 | +3.1% |
| Gross operating margin | 9900 | €137,790 | €106,348 | -€31,443 | -22.8% |
| Operating profit (loss) | 9901 | €106,152 | €83,831 | -€22,321 | -21.0% |
| Financial income | 75/76B | €3,376 | €2,173 | -€1,203 | -35.6% |
| Recurring financial income | 75 | €3,376 | €2,173 | -€1,203 | -35.6% |
| Financial charges | 65/66B | €9,698 | €10,128 | +€429 | +4.4% |
| Recurring financial charges | 65 | €9,698 | €10,128 | +€429 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €99,830 | €75,876 | -€23,953 | -24.0% |
| Income taxes | 67/77 | €21,212 | €16,254 | -€4,957 | -23.4% |
| Profit (loss) for the period | 9904 | €78,618 | €59,622 | -€18,996 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,618 | €59,622 | -€18,996 | -24.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.