VELORA: 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.
VELORA
Largest movements
- Cash +€156,884
up €156,884 (+2522.7%), from €6,219 to €163,103
mainly Net result for the year (+€144,507) and Tax, wage and social debts (+€13,445)
- Tangible fixed assets +€11,330
up €11,330 (+35.6%), from €31,787 to €43,117
of which Leasing and similar rights: +€9,314
- Deferred charges and accrued income -€8,612
down €8,612 (-31.7%), from €27,165 to €18,554
- Profit (loss) carried forward +€144,507
up €144,507 (+863.2%), from €16,742 to €161,249
- Tax, wage and social debts +€13,445
up €13,445 (+305.7%), from €4,397 to €17,842
of which Taxes: +€10,905
- Other debts -€9,843
down €9,843 (-96.1%), from €10,240 to €397
- Current portion of long-term debt +€5,612
up €5,612 (+101.0%), from €5,554 to €11,166
- Debts after one year +€4,173
up €4,173 (+17.3%), from €24,146 to €28,319
- Gross operating margin +€173,114
up €173,114 (+663.5%), from €26,091 to €199,205
- Taxes +€38,105
up €38,105 (+866.6%), from €4,397 to €42,503
- Depreciation +€4,493
up €4,493 (+107.8%), from €4,169 to €8,662
- Financial charges +€2,256
up €2,256 (+460.7%), from €490 to €2,746
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 | €65,171 | €224,774 | +€159,603 | +244.9% |
| Fixed assets | 21/28 | €31,787 | €43,117 | +€11,330 | +35.6% |
| Tangible fixed assets | 22/27 | €31,787 | €43,117 | +€11,330 | +35.6% |
| Furniture and vehicles | 24 | €2,964 | €4,980 | +€2,017 | +68.0% |
| Leasing and similar rights | 25 | €28,824 | €38,137 | +€9,314 | +32.3% |
| Current assets | 29/58 | €33,384 | €181,657 | +€148,273 | +444.1% |
| Cash at bank and in hand | 54/58 | €6,219 | €163,103 | +€156,884 | +2522.7% |
| Deferred charges and accrued income | 490/1 | €27,165 | €18,554 | -€8,612 | -31.7% |
| Total equity and liabilities | 10/49 | €65,171 | €224,774 | +€159,603 | +244.9% |
| Equity | 10/15 | €20,242 | €164,749 | +€144,507 | +713.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,742 | €161,249 | +€144,507 | +863.2% |
| Amounts payable | 17/49 | €44,930 | €60,026 | +€15,096 | +33.6% |
| Amounts payable after more than one year | 17 | €24,146 | €28,319 | +€4,173 | +17.3% |
| Financial debts | 170/4 | €24,146 | €28,319 | +€4,173 | +17.3% |
| Amounts payable within one year | 42/48 | €20,784 | €31,706 | +€10,923 | +52.6% |
| Current portion of amounts payable after more than one year | 42 | €5,554 | €11,166 | +€5,612 | +101.0% |
| Trade debts | 44 | €592 | €2,301 | +€1,709 | +288.5% |
| Suppliers | 440/4 | €592 | €2,301 | +€1,709 | +288.5% |
| Taxes, remuneration and social security | 45 | €4,397 | €17,842 | +€13,445 | +305.7% |
| Taxes | 450/3 | €4,397 | €15,303 | +€10,905 | +248.0% |
| Remuneration and social security | 454/9 | - | €2,539 | +€2,539 | |
| Other amounts payable | 47/48 | €10,240 | €397 | -€9,843 | -96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,169 | €8,662 | +€4,493 | +107.8% |
| Other operating charges | 640/8 | €293 | €787 | +€494 | +168.3% |
| Gross operating margin | 9900 | €26,091 | €199,205 | +€173,114 | +663.5% |
| Operating profit (loss) | 9901 | €21,629 | €189,756 | +€168,127 | +777.3% |
| Financial charges | 65/66B | €490 | €2,746 | +€2,256 | +460.7% |
| Recurring financial charges | 65 | €490 | €2,746 | +€2,256 | +460.7% |
| Profit (loss) for the period before taxes | 9903 | €21,139 | €187,010 | +€165,871 | +784.7% |
| Income taxes | 67/77 | €4,397 | €42,503 | +€38,105 | +866.6% |
| Profit (loss) for the period | 9904 | €16,742 | €144,507 | +€127,766 | +763.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,742 | €144,507 | +€127,766 | +763.2% |
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 8 October 2026 via checked.be.