VELP&CO: 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.
VELP&CO
Largest movements
- Cash +€124,313
up €124,313 (+65.9%), from €188,497 to €312,809
mainly Net result for the year (+€160,746) and Depreciation (+€109,538)
- Tangible fixed assets -€90,527
down €90,527 (-33.8%), from €267,887 to €177,359
of which Plant, machinery and equipment: -€80,553
- Receivables within one year +€38,946
up €38,946 (+55.6%), from €70,089 to €109,035
of which Trade receivables: +€45,344
- Debts after one year -€95,077
down €95,077 (-32.8%), from €289,767 to €194,690
- Other debts +€88,611
up €88,611 (+10,919%), from €812 to €89,422
- Reserves +€36,097
up €36,097 (+29.0%), from €124,649 to €160,746
- Trade debts +€30,344
up €30,344 (+114%), from €26,613 to €56,956
- Tax, wage and social debts +€15,119
up €15,119 (+145%), from €10,403 to €25,523
- Gross operating margin +€43,781
up €43,781 (+15.3%), from €285,873 to €329,654
- Taxes +€19,082
up €19,082 (+52.9%), from €36,064 to €55,145
- Depreciation -€4,635
down €4,635 (-4.1%), from €114,173 to €109,538
- Other operating charges -€3,591
down €3,591 (-79.6%), from €4,510 to €919
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 | €533,403 | €608,466 | +€75,063 | +14.1% |
| Fixed assets | 21/28 | €268,247 | €177,720 | -€90,527 | -33.7% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -28.6% |
| Tangible fixed assets | 22/27 | €267,887 | €177,359 | -€90,527 | -33.8% |
| Plant, machinery and equipment | 23 | €187,934 | €107,381 | -€80,553 | -42.9% |
| Furniture and vehicles | 24 | €79,952 | €69,978 | -€9,974 | -12.5% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €265,156 | €430,746 | +€165,590 | +62.5% |
| Amounts receivable within one year | 40/41 | €70,089 | €109,035 | +€38,946 | +55.6% |
| Trade receivables | 40 | €63,680 | €109,025 | +€45,344 | +71.2% |
| Other amounts receivable | 41 | €6,409 | €10 | -€6,399 | -99.8% |
| Cash at bank and in hand | 54/58 | €188,497 | €312,809 | +€124,313 | +65.9% |
| Deferred charges and accrued income | 490/1 | €6,570 | €8,902 | +€2,332 | +35.5% |
| Total equity and liabilities | 10/49 | €533,403 | €608,466 | +€75,063 | +14.1% |
| Equity | 10/15 | €143,249 | €179,346 | +€36,097 | +25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,649 | €160,746 | +€36,097 | +29.0% |
| Distributable reserves | 133 | €124,649 | €160,746 | +€36,097 | +29.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €390,154 | €429,119 | +€38,965 | +10.0% |
| Amounts payable after more than one year | 17 | €289,767 | €194,690 | -€95,077 | -32.8% |
| Financial debts | 170/4 | €289,767 | €194,690 | -€95,077 | -32.8% |
| Amounts payable within one year | 42/48 | €100,387 | €233,845 | +€133,458 | +133% |
| Current portion of amounts payable after more than one year | 42 | €62,559 | €60,277 | -€2,282 | -3.6% |
| Financial debts | 43 | - | €1,667 | +€1,667 | |
| Credit institutions | 430/8 | - | €1,667 | +€1,667 | |
| Trade debts | 44 | €26,613 | €56,956 | +€30,344 | +114% |
| Suppliers | 440/4 | €26,613 | €56,956 | +€30,344 | +114% |
| Taxes, remuneration and social security | 45 | €10,403 | €25,523 | +€15,119 | +145% |
| Taxes | 450/3 | €10,403 | €25,523 | +€15,119 | +145% |
| Other amounts payable | 47/48 | €812 | €89,422 | +€88,611 | +10,919% |
| Accrued charges and deferred income | 492/3 | - | €584 | +€584 | |
| Non-recurring operating income | 76A | - | €1,292 | +€1,292 | |
| Remuneration, social security and pensions | 62 | - | €185 | +€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,173 | €109,538 | -€4,635 | -4.1% |
| Other operating charges | 640/8 | €4,510 | €919 | -€3,591 | -79.6% |
| Non-recurring operating charges | 66A | €606 | €177 | -€429 | -70.8% |
| Gross operating margin | 9900 | €285,873 | €329,654 | +€43,781 | +15.3% |
| Operating profit (loss) | 9901 | €166,584 | €218,835 | +€52,251 | +31.4% |
| Financial income | 75/76B | €1,023 | €2,135 | +€1,112 | +109% |
| Recurring financial income | 75 | €1,023 | €2,135 | +€1,112 | +109% |
| Financial charges | 65/66B | €7,122 | €5,079 | -€2,043 | -28.7% |
| Recurring financial charges | 65 | €7,122 | €5,079 | -€2,043 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €160,486 | €215,892 | +€55,406 | +34.5% |
| Income taxes | 67/77 | €36,064 | €55,145 | +€19,082 | +52.9% |
| Profit (loss) for the period | 9904 | €124,422 | €160,746 | +€36,324 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €124,422 | €160,746 | +€36,324 | +29.2% |
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.