VELT: 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.
VELT
Largest movements
- Tangible fixed assets -€10,059
down €10,059 (-8.8%), from €114,034 to €103,975
- Cash -€2,038
down €2,038 (-49.3%), from €4,132 to €2,094
mainly Debts after one year (-€7,000) and Other debts (-€4,693)
- Debts after one year -€7,000
down €7,000 (-7.4%), from €95,000 to €88,000
- Other debts -€4,693
down €4,693 (-74.6%), from €6,293 to €1,600
- Gross operating margin -€7,268
down €7,268 (-42.8%), from €16,962 to €9,694
- Other operating charges -€302
down €302 (-36.4%), from €830 to €528
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 | €118,166 | €106,069 | -€12,097 | -10.2% |
| Fixed assets | 21/28 | €114,034 | €103,975 | -€10,059 | -8.8% |
| Tangible fixed assets | 22/27 | €114,034 | €103,975 | -€10,059 | -8.8% |
| Land and buildings | 22 | €114,034 | €103,975 | -€10,059 | -8.8% |
| Current assets | 29/58 | €4,132 | €2,094 | -€2,038 | -49.3% |
| Cash at bank and in hand | 54/58 | €4,132 | €2,094 | -€2,038 | -49.3% |
| Total equity and liabilities | 10/49 | €118,166 | €106,069 | -€12,097 | -10.2% |
| Equity | 10/15 | €16,179 | €15,209 | -€971 | -6.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €11,766 | €11,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,766 | €11,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,136 | -€15,107 | -€971 | -6.9% |
| Amounts payable | 17/49 | €101,987 | €90,860 | -€11,127 | -10.9% |
| Amounts payable after more than one year | 17 | €95,000 | €88,000 | -€7,000 | -7.4% |
| Financial debts | 170/4 | €95,000 | €88,000 | -€7,000 | -7.4% |
| Amounts payable within one year | 42/48 | €6,357 | €2,195 | -€4,162 | -65.5% |
| Trade debts | 44 | €64 | €595 | +€532 | +833.3% |
| Suppliers | 440/4 | €64 | €595 | +€532 | +833.3% |
| Other amounts payable | 47/48 | €6,293 | €1,600 | -€4,693 | -74.6% |
| Accrued charges and deferred income | 492/3 | €630 | €665 | +€35 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,059 | €10,059 | +€0 | 0.0% |
| Other operating charges | 640/8 | €830 | €528 | -€302 | -36.4% |
| Gross operating margin | 9900 | €16,962 | €9,694 | -€7,268 | -42.8% |
| Operating profit (loss) | 9901 | €6,073 | -€893 | -€6,966 | |
| Financial charges | 65/66B | €78 | €78 | = | 0.0% |
| Recurring financial charges | 65 | €78 | €78 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €5,995 | -€971 | -€6,966 | |
| Profit (loss) for the period | 9904 | €5,995 | -€971 | -€6,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,995 | -€971 | -€6,966 |
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 28 September 2026 via checked.be.