VELOZOPHIE: 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.
VELOZOPHIE
Largest movements
- Stocks and contracts +€38,522
up €38,522 (+8.0%), from €478,803 to €517,325
- Receivables within one year +€10,101
up €10,101 (+41.0%), from €24,632 to €34,733
of which Other amounts receivable: +€5,776
- Trade debts +€60,845
up €60,845 (+71.5%), from €85,069 to €145,914
- Short-term financial debts +€45,000
up €45,000 (+47.4%), from €95,000 to €140,000
- Other debts -€29,872
down €29,872 (-31.4%), from €95,001 to €65,129
- Tax, wage and social debts -€16,569
down €16,569 (-29.1%), from €56,854 to €40,285
of which Taxes: -€9,546
- Current portion of long-term debt -€10,477
down €10,477 (-57.5%), from €18,236 to €7,759
- Staff costs +€36,768
up €36,768 (+19.0%), from €193,651 to €230,419
- Gross operating margin +€35,352
up €35,352 (+15.8%), from €223,364 to €258,716
- Taxes +€6,426
up €6,426 (+292%), from €2,200 to €8,626
- Other operating charges +€4,148
up €4,148 (+672%), from €617 to €4,765
- Financial charges -€3,582
down €3,582 (-28.9%), from €12,404 to €8,822
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 | €538,496 | €587,589 | +€49,093 | +9.1% |
| Fixed assets | 21/28 | €3,264 | €4,710 | +€1,446 | +44.3% |
| Tangible fixed assets | 22/27 | €3,264 | €4,710 | +€1,446 | +44.3% |
| Plant, machinery and equipment | 23 | €3,264 | €4,710 | +€1,446 | +44.3% |
| Current assets | 29/58 | €535,232 | €582,879 | +€47,647 | +8.9% |
| Stocks and contracts in progress | 3 | €478,803 | €517,325 | +€38,522 | +8.0% |
| Stocks | 30/36 | €478,803 | €517,325 | +€38,522 | +8.0% |
| Amounts receivable within one year | 40/41 | €24,632 | €34,733 | +€10,101 | +41.0% |
| Trade receivables | 40 | €19,632 | €23,957 | +€4,325 | +22.0% |
| Other amounts receivable | 41 | €5,000 | €10,776 | +€5,776 | +116% |
| Cash at bank and in hand | 54/58 | €17,117 | €19,613 | +€2,496 | +14.6% |
| Deferred charges and accrued income | 490/1 | €14,681 | €11,208 | -€3,473 | -23.7% |
| Total equity and liabilities | 10/49 | €538,496 | €587,589 | +€49,093 | +9.1% |
| Equity | 10/15 | €185,972 | €188,502 | +€2,530 | +1.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,972 | €113,502 | +€2,530 | +2.3% |
| Amounts payable | 17/49 | €352,524 | €399,087 | +€46,563 | +13.2% |
| Amounts payable after more than one year | 17 | €2,364 | - | -€2,364 | |
| Financial debts | 170/4 | €2,364 | - | -€2,364 | |
| Amounts payable within one year | 42/48 | €350,160 | €399,087 | +€48,927 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €18,236 | €7,759 | -€10,477 | -57.5% |
| Financial debts | 43 | €95,000 | €140,000 | +€45,000 | +47.4% |
| Credit institutions | 430/8 | €95,000 | €140,000 | +€45,000 | +47.4% |
| Trade debts | 44 | €85,069 | €145,914 | +€60,845 | +71.5% |
| Suppliers | 440/4 | €85,069 | €145,914 | +€60,845 | +71.5% |
| Taxes, remuneration and social security | 45 | €56,854 | €40,285 | -€16,569 | -29.1% |
| Taxes | 450/3 | €27,602 | €18,056 | -€9,546 | -34.6% |
| Remuneration and social security | 454/9 | €29,252 | €22,229 | -€7,023 | -24.0% |
| Other amounts payable | 47/48 | €95,001 | €65,129 | -€29,872 | -31.4% |
| Remuneration, social security and pensions | 62 | €193,651 | €230,419 | +€36,768 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,484 | €3,554 | +€2,070 | +139% |
| Other operating charges | 640/8 | €617 | €4,765 | +€4,148 | +672% |
| Gross operating margin | 9900 | €223,364 | €258,716 | +€35,352 | +15.8% |
| Operating profit (loss) | 9901 | €27,613 | €19,978 | -€7,635 | -27.6% |
| Financial charges | 65/66B | €12,404 | €8,822 | -€3,582 | -28.9% |
| Recurring financial charges | 65 | €12,404 | €8,822 | -€3,582 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €15,208 | €11,156 | -€4,052 | -26.6% |
| Income taxes | 67/77 | €2,200 | €8,626 | +€6,426 | +292% |
| Profit (loss) for the period | 9904 | €13,008 | €2,530 | -€10,478 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,008 | €2,530 | -€10,478 | -80.6% |
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 27 October 2026 via checked.be.