Veltec: 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.
What changed
Veltec
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€39,031
2024 · -€893,040+€932,071
Equity
€717,205
2024 · €678,174+€39,031
Cash
€300,162
2024 · €585,435-€285,273
Balance sheet total
€4.8m
2024 · €4.8m+€62,075
Largest movements
Assets
- Stocks and contracts +€440,867
up €440,867 (+46.6%), from €945,654 to €1.4m
of which Contracts in progress: +€368,301
- Cash -€285,273
down €285,273 (-48.7%), from €585,435 to €300,162
mainly Stocks and contracts (-€440,867) and Investment in fixed assets (net) (-€194,925)
- Tangible fixed assets -€137,291
down €137,291 (-8.1%), from €1.7m to €1.6m
of which Plant, machinery and equipment: -€102,599
- Receivables within one year +€53,197
up €53,197 (+3.6%), from €1.5m to €1.5m
of which Trade receivables: +€52,548
Equity and liabilities
- Short-term financial debts +€338,206
up €338,206 (+56.4%), from €600,000 to €938,206
of which Other loans: +€338,206
- Trade debts -€126,996
down €126,996 (-12.9%), from €986,143 to €859,147
- Debts after one year -€103,440
down €103,440 (-6.9%), from €1.5m to €1.4m
- Tax, wage and social debts -€63,649
down €63,649 (-8.7%), from €734,779 to €671,130
of which Remuneration and social security: -€55,976
Income statement
- Gross operating margin +€954,376
up €954,376 (+32.0%), from €3.0m to €3.9m
- Staff costs -€89,868
down €89,868 (-2.7%), from €3.4m to €3.3m
- Provisions +€45,000
up €45,000, from €0 to €45,000
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.
Result 2024
-€893,040
Gross operating margin
+€954,376
Staff costs
+€89,868
Depreciation
-€8,219
Write-downs
-€21,949
Provisions
-€45,000
Other operating charges
-€23,668
Other operating items
+€2,548
Financial income
-€1,694
Financial charges
-€14,198
Taxes
+€7
Result 2025
€39,031
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€297,361
Investment
-€194,925
Financing
+€207,013
Cash 2024
€585,435
From operations (derived)
-€297,361
Net result for the year
+€39,031
Depreciation
+€335,546
Stocks and contracts
-€440,867
Receivables within one year
-€53,197
Deferred charges and accrued income
+€6,095
Provisions
+€45,000
Trade debts
-€126,996
Tax, wage and social debts
-€63,649
Accrued charges and deferred income
-€38,324
Investment (derived)
-€194,925
Investment in fixed assets (net)
-€194,925
Financing
+€207,013
Debts after one year
-€103,440
Current portion of long-term debt
-€27,753
Short-term financial debts
+€338,206
Cash 2025
€300,162
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,757,897 | €4,819,971 | +€62,075 | +1.3% |
| Fixed assets | 21/28 | €1,716,202 | €1,575,581 | -€140,621 | -8.2% |
| Intangible fixed assets | 21 | €11,940 | €8,490 | -€3,450 | -28.9% |
| Tangible fixed assets | 22/27 | €1,702,622 | €1,565,331 | -€137,291 | -8.1% |
| Land and buildings | 22 | €907,583 | €883,673 | -€23,909 | -2.6% |
| Plant, machinery and equipment | 23 | €469,403 | €366,804 | -€102,599 | -21.9% |
| Furniture and vehicles | 24 | €136,915 | €102,364 | -€34,551 | -25.2% |
| Leasing and similar rights | 25 | €188,721 | €212,490 | +€23,769 | +12.6% |
| Financial fixed assets | 28 | €1,640 | €1,760 | +€120 | +7.3% |
| Current assets | 29/58 | €3,041,695 | €3,244,391 | +€202,696 | +6.7% |
| Stocks and contracts in progress | 3 | €945,654 | €1,386,522 | +€440,867 | +46.6% |
| Stocks | 30/36 | €172,130 | €244,696 | +€72,566 | +42.2% |
| Contracts in progress | 37 | €773,524 | €1,141,825 | +€368,301 | +47.6% |
| Amounts receivable within one year | 40/41 | €1,491,778 | €1,544,974 | +€53,197 | +3.6% |
| Trade receivables | 40 | €1,487,484 | €1,540,033 | +€52,548 | +3.5% |
| Other amounts receivable | 41 | €4,293 | €4,942 | +€648 | +15.1% |
| Cash at bank and in hand | 54/58 | €585,435 | €300,162 | -€285,273 | -48.7% |
| Deferred charges and accrued income | 490/1 | €18,828 | €12,733 | -€6,095 | -32.4% |
| Total equity and liabilities | 10/49 | €4,757,897 | €4,819,971 | +€62,075 | +1.3% |
| Equity | 10/15 | €678,174 | €717,205 | +€39,031 | +5.8% |
| Contributions | 10/11 | €1,325,000 | €1,325,000 | = | 0.0% |
| Capital | 10 | €1,325,000 | €1,325,000 | = | 0.0% |
| Issued capital | 100 | €1,325,000 | €1,325,000 | = | 0.0% |
| Reserves | 13 | €113,750 | €113,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €113,750 | €113,750 | = | 0.0% |
| Legal reserve | 130 | €113,750 | €113,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€760,576 | -€721,545 | +€39,031 | +5.1% |
| Provisions and deferred taxes | 16 | - | €45,000 | +€45,000 | |
| Provisions for liabilities and charges | 160/5 | - | €45,000 | +€45,000 | |
| Other liabilities and charges | 164/5 | - | €45,000 | +€45,000 | |
| Amounts payable | 17/49 | €4,079,723 | €4,057,767 | -€21,956 | -0.5% |
| Amounts payable after more than one year | 17 | €1,497,928 | €1,394,489 | -€103,440 | -6.9% |
| Financial debts | 170/4 | €1,497,928 | €1,394,489 | -€103,440 | -6.9% |
| Amounts payable within one year | 42/48 | €2,539,953 | €2,659,761 | +€119,808 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €218,729 | €190,976 | -€27,753 | -12.7% |
| Financial debts | 43 | €600,000 | €938,206 | +€338,206 | +56.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €600,000 | €938,206 | +€338,206 | +56.4% |
| Trade debts | 44 | €986,143 | €859,147 | -€126,996 | -12.9% |
| Suppliers | 440/4 | €986,143 | €859,147 | -€126,996 | -12.9% |
| Advances received on contracts in progress | 46 | €302 | €302 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €734,779 | €671,130 | -€63,649 | -8.7% |
| Taxes | 450/3 | €149,246 | €141,572 | -€7,673 | -5.1% |
| Remuneration and social security | 454/9 | €585,534 | €529,558 | -€55,976 | -9.6% |
| Accrued charges and deferred income | 492/3 | €41,841 | €3,517 | -€38,324 | -91.6% |
| Non-recurring operating income | 76A | €15,925 | €3,426 | -€12,498 | -78.5% |
| Remuneration, social security and pensions | 62 | €3,378,479 | €3,288,611 | -€89,868 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,327 | €335,546 | +€8,219 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €21,949 | +€21,949 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €45,000 | +€45,000 | |
| Other operating charges | 640/8 | €37,897 | €61,565 | +€23,668 | +62.5% |
| Non-recurring operating charges | 66A | €5,576 | €3,027 | -€2,548 | -45.7% |
| Gross operating margin | 9900 | €2,978,878 | €3,933,254 | +€954,376 | +32.0% |
| Operating profit (loss) | 9901 | -€770,401 | €177,555 | +€947,956 | |
| Financial income | 75/76B | €2,813 | €1,119 | -€1,694 | -60.2% |
| Recurring financial income | 75 | €2,813 | €1,119 | -€1,694 | -60.2% |
| Financial charges | 65/66B | €124,618 | €138,816 | +€14,198 | +11.4% |
| Recurring financial charges | 65 | €124,618 | €138,816 | +€14,198 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | -€892,206 | €39,858 | +€932,064 | |
| Income taxes | 67/77 | €834 | €827 | -€7 | -0.8% |
| Profit (loss) for the period | 9904 | -€893,040 | €39,031 | +€932,071 | |
| Profit (loss) for the period to be appropriated | 9905 | -€893,040 | €39,031 | +€932,071 |
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 14 October 2026 via checked.be.