Vélolo: 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.
Vélolo
Largest movements
- Cash +€100,808
up €100,808 (+379.3%), from €26,577 to €127,384
- Stocks and contracts +€20,272
up €20,272 (+2.7%), from €738,214 to €758,486
- Tangible fixed assets -€18,561
down €18,561 (-7.8%), from €238,397 to €219,835
of which Land and buildings: -€146,826
- Debts after one year +€398,277
up €398,277 (+169.1%), from €235,572 to €633,849
- Profit (loss) carried forward -€313,569
down €313,569 (-287.0%), from -€109,250 to -€422,818
- Other debts -€298,587
down €298,587 (-98.8%), from €302,271 to €3,684
- Contributions +€150,000
up €150,000 (+100.0%), from €150,000 to €300,000
- Trade debts +€72,323
up €72,323 (+45.1%), from €160,527 to €232,851
- Staff costs +€204,009
up €204,009 (+198.2%), from €102,935 to €306,943
- Gross operating margin +€62,953
up €62,953 (+129.1%), from €48,772 to €111,725
- Depreciation +€29,723
up €29,723 (+75.2%), from €39,524 to €69,246
- Financial charges +€24,724
up €24,724 (+84.8%), from €29,158 to €53,882
- Financial income -€8,971
down €8,971 (-61.4%), from €14,613 to €5,642
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,066,736 | €1,175,418 | +€108,682 | +10.2% |
| Formation expenses | 20 | €10,692 | €5,442 | -€5,250 | -49.1% |
| Fixed assets | 21/28 | €246,838 | €225,293 | -€21,545 | -8.7% |
| Intangible fixed assets | 21 | €8,441 | €5,457 | -€2,984 | -35.3% |
| Tangible fixed assets | 22/27 | €238,397 | €219,835 | -€18,561 | -7.8% |
| Land and buildings | 22 | €146,826 | €0 | -€146,826 | -100.0% |
| Plant, machinery and equipment | 23 | €76,422 | €48,475 | -€27,948 | -36.6% |
| Furniture and vehicles | 24 | €15,149 | €48,001 | +€32,853 | +216.9% |
| Other tangible fixed assets | 26 | - | €123,360 | +€123,360 | |
| Current assets | 29/58 | €809,206 | €944,683 | +€135,477 | +16.7% |
| Stocks and contracts in progress | 3 | €738,214 | €758,486 | +€20,272 | +2.7% |
| Stocks | 30/36 | €738,214 | €758,486 | +€20,272 | +2.7% |
| Amounts receivable within one year | 40/41 | €41,883 | €53,157 | +€11,274 | +26.9% |
| Trade receivables | 40 | €41,526 | €52,777 | +€11,251 | +27.1% |
| Other amounts receivable | 41 | €357 | €380 | +€23 | +6.4% |
| Cash at bank and in hand | 54/58 | €26,577 | €127,384 | +€100,808 | +379.3% |
| Deferred charges and accrued income | 490/1 | €2,533 | €5,656 | +€3,123 | +123.3% |
| Total equity and liabilities | 10/49 | €1,066,736 | €1,175,418 | +€108,682 | +10.2% |
| Equity | 10/15 | €40,750 | -€122,818 | -€163,569 | |
| Contributions | 10/11 | €150,000 | €300,000 | +€150,000 | +100.0% |
| Profit (loss) carried forward | 14 | -€109,250 | -€422,818 | -€313,569 | -287.0% |
| Amounts payable | 17/49 | €1,025,986 | €1,298,236 | +€272,251 | +26.5% |
| Amounts payable after more than one year | 17 | €235,572 | €633,849 | +€398,277 | +169.1% |
| Financial debts | 170/4 | €235,572 | €633,849 | +€398,277 | +169.1% |
| Amounts payable within one year | 42/48 | €790,414 | €660,778 | -€129,636 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €39,141 | €48,787 | +€9,646 | +24.6% |
| Financial debts | 43 | €260,000 | €300,000 | +€40,000 | +15.4% |
| Credit institutions | 430/8 | €260,000 | €300,000 | +€40,000 | +15.4% |
| Trade debts | 44 | €160,527 | €232,851 | +€72,323 | +45.1% |
| Suppliers | 440/4 | €160,527 | €232,851 | +€72,323 | +45.1% |
| Advances received on contracts in progress | 46 | - | €510 | +€510 | |
| Taxes, remuneration and social security | 45 | €28,475 | €74,947 | +€46,472 | +163.2% |
| Taxes | 450/3 | €5,006 | €45,655 | +€40,649 | +812.0% |
| Remuneration and social security | 454/9 | €23,468 | €29,291 | +€5,823 | +24.8% |
| Other amounts payable | 47/48 | €302,271 | €3,684 | -€298,587 | -98.8% |
| Accrued charges and deferred income | 492/3 | - | €3,610 | +€3,610 | |
| Non-recurring operating income | 76A | - | €221 | +€221 | |
| Remuneration, social security and pensions | 62 | €102,935 | €306,943 | +€204,009 | +198.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,524 | €69,246 | +€29,723 | +75.2% |
| Other operating charges | 640/8 | €1,018 | €863 | -€154 | -15.2% |
| Gross operating margin | 9900 | €48,772 | €111,725 | +€62,953 | +129.1% |
| Operating profit (loss) | 9901 | -€94,704 | -€265,328 | -€170,624 | -180.2% |
| Financial income | 75/76B | €14,613 | €5,642 | -€8,971 | -61.4% |
| Recurring financial income | 75 | €14,613 | €5,642 | -€8,971 | -61.4% |
| Financial charges | 65/66B | €29,158 | €53,882 | +€24,724 | +84.8% |
| Recurring financial charges | 65 | €29,158 | €53,882 | +€24,724 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | -€109,250 | -€313,569 | -€204,319 | -187.0% |
| Profit (loss) for the period | 9904 | -€109,250 | -€313,569 | -€204,319 | -187.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€109,250 | -€313,569 | -€204,319 | -187.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.