VELOKE: 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.
VELOKE
Largest movements
- Cash +€125,251
up €125,251 (+201%), from €62,163 to €187,414
mainly Other debts (+€199,714) and Stocks and contracts (+€88,049)
- Stocks and contracts -€88,049
down €88,049 (-28.0%), from €314,150 to €226,100
- Tangible fixed assets -€8,865
down €8,865 (-2.5%), from €352,673 to €343,808
of which Land and buildings: -€5,130
- Other debts +€199,714
up €199,714 (+24,469%), from €816 to €200,530
- Reserves -€140,419
down €140,419 (-39.1%), from €358,687 to €218,268
- Debts after one year -€25,654
down €25,654 (-8.7%), from €296,073 to €270,419
- Trade debts -€17,863
down €17,863 (-34.7%), from €51,528 to €33,665
- Gross operating margin -€25,225
down €25,225 (-19.2%), from €131,584 to €106,359
- Staff costs -€9,593
down €9,593 (-93.9%), from €10,211 to €618
- Taxes -€2,831
down €2,831 (-14.6%), from €19,450 to €16,619
- Financial charges -€1,410
down €1,410 (-18.0%), from €7,849 to €6,439
- Depreciation +€1,348
up €1,348 (+7.0%), from €19,329 to €20,677
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 | €764,882 | €787,120 | +€22,238 | +2.9% |
| Fixed assets | 21/28 | €352,673 | €343,808 | -€8,865 | -2.5% |
| Tangible fixed assets | 22/27 | €352,673 | €343,808 | -€8,865 | -2.5% |
| Land and buildings | 22 | €343,935 | €338,805 | -€5,130 | -1.5% |
| Plant, machinery and equipment | 23 | €8,739 | €5,003 | -€3,735 | -42.7% |
| Current assets | 29/58 | €412,209 | €443,311 | +€31,103 | +7.5% |
| Stocks and contracts in progress | 3 | €314,150 | €226,100 | -€88,049 | -28.0% |
| Stocks | 30/36 | €314,150 | €226,100 | -€88,049 | -28.0% |
| Amounts receivable within one year | 40/41 | €28,972 | €22,115 | -€6,857 | -23.7% |
| Trade receivables | 40 | €26,721 | €13,872 | -€12,849 | -48.1% |
| Other amounts receivable | 41 | €2,251 | €8,242 | +€5,992 | +266% |
| Cash at bank and in hand | 54/58 | €62,163 | €187,414 | +€125,251 | +201% |
| Deferred charges and accrued income | 490/1 | €6,924 | €7,682 | +€758 | +10.9% |
| Total equity and liabilities | 10/49 | €764,882 | €787,120 | +€22,238 | +2.9% |
| Equity | 10/15 | €378,687 | €238,268 | -€140,419 | -37.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €358,687 | €218,268 | -€140,419 | -39.1% |
| Distributable reserves | 133 | €358,687 | €218,268 | -€140,419 | -39.1% |
| Amounts payable | 17/49 | €386,195 | €548,852 | +€162,657 | +42.1% |
| Amounts payable after more than one year | 17 | €296,073 | €270,419 | -€25,654 | -8.7% |
| Financial debts | 170/4 | €296,073 | €270,419 | -€25,654 | -8.7% |
| Amounts payable within one year | 42/48 | €90,122 | €278,432 | +€188,311 | +209% |
| Current portion of amounts payable after more than one year | 42 | €25,252 | €25,654 | +€402 | +1.6% |
| Trade debts | 44 | €51,528 | €33,665 | -€17,863 | -34.7% |
| Suppliers | 440/4 | €51,528 | €33,665 | -€17,863 | -34.7% |
| Taxes, remuneration and social security | 45 | €12,526 | €18,584 | +€6,059 | +48.4% |
| Taxes | 450/3 | €9,170 | €18,584 | +€9,414 | +103% |
| Remuneration and social security | 454/9 | €3,356 | - | -€3,356 | |
| Other amounts payable | 47/48 | €816 | €200,530 | +€199,714 | +24,469% |
| Remuneration, social security and pensions | 62 | €10,211 | €618 | -€9,593 | -93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,329 | €20,677 | +€1,348 | +7.0% |
| Other operating charges | 640/8 | €4,759 | €4,508 | -€251 | -5.3% |
| Gross operating margin | 9900 | €131,584 | €106,359 | -€25,225 | -19.2% |
| Operating profit (loss) | 9901 | €97,285 | €80,556 | -€16,729 | -17.2% |
| Financial income | 75/76B | €1,415 | €2,083 | +€669 | +47.3% |
| Recurring financial income | 75 | €1,415 | €2,083 | +€669 | +47.3% |
| Financial charges | 65/66B | €7,849 | €6,439 | -€1,410 | -18.0% |
| Recurring financial charges | 65 | €7,849 | €6,439 | -€1,410 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €90,851 | €76,200 | -€14,651 | -16.1% |
| Income taxes | 67/77 | €19,450 | €16,619 | -€2,831 | -14.6% |
| Profit (loss) for the period | 9904 | €71,401 | €59,581 | -€11,820 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €71,401 | €59,581 | -€11,820 | -16.6% |
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 14 October 2026 via checked.be.