VELTISTO: 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.
VELTISTO
Largest movements
- Cash +€52,596
up €52,596 (+12.0%), from €437,695 to €490,291
mainly Net result for the year (+€45,498) and Depreciation (+€8,575)
- Tangible fixed assets -€8,576
down €8,576 (-41.7%), from €20,561 to €11,985
of which Furniture and vehicles: -€8,082
- Reserves +€45,498
up €45,498 (+8.2%), from €555,838 to €601,336
of which Distributable reserves: +€45,498
- Gross operating margin -€6,009
down €6,009 (-7.5%), from €80,081 to €74,072
- Taxes -€4,818
down €4,818 (-19.5%), from €24,695 to €19,877
- Financial income +€903
up €903 (+159.0%), from €568 to €1,471
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €621,635 | €662,605 | +€40,970 | +6.6% |
| Fixed assets | 21/28 | €170,581 | €162,005 | -€8,576 | -5.0% |
| Tangible fixed assets | 22/27 | €20,561 | €11,985 | -€8,576 | -41.7% |
| Land and buildings | 22 | €256 | €256 | -€0 | -0.1% |
| Plant, machinery and equipment | 23 | €987 | €493 | -€494 | -50.0% |
| Furniture and vehicles | 24 | €19,318 | €11,236 | -€8,082 | -41.8% |
| Financial fixed assets | 28 | €150,020 | €150,020 | = | 0.0% |
| Current assets | 29/58 | €451,054 | €500,600 | +€49,546 | +11.0% |
| Amounts receivable within one year | 40/41 | €13,359 | €10,309 | -€3,050 | -22.8% |
| Trade receivables | 40 | €13,359 | €10,164 | -€3,195 | -23.9% |
| Other amounts receivable | 41 | - | €146 | +€146 | |
| Cash at bank and in hand | 54/58 | €437,695 | €490,291 | +€52,596 | +12.0% |
| Total equity and liabilities | 10/49 | €621,635 | €662,605 | +€40,970 | +6.6% |
| Equity | 10/15 | €548,309 | €593,807 | +€45,498 | +8.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €20,460 | - | -€20,460 | |
| Issued capital | 100 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €555,838 | €601,336 | +€45,498 | +8.2% |
| Tax-exempt reserves | 132 | €11,875 | €11,875 | = | 0.0% |
| Distributable reserves | 133 | €543,963 | €589,461 | +€45,498 | +8.4% |
| Profit (loss) carried forward | 14 | -€27,989 | -€27,989 | -€0 | 0.0% |
| Amounts payable | 17/49 | €73,326 | €68,799 | -€4,527 | -6.2% |
| Amounts payable after more than one year | 17 | €9,241 | €3,104 | -€6,137 | -66.4% |
| Financial debts | 170/4 | €9,241 | €3,104 | -€6,137 | -66.4% |
| Amounts payable within one year | 42/48 | €64,085 | €65,695 | +€1,610 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €6,044 | €6,235 | +€191 | +3.2% |
| Trade debts | 44 | €355 | €3,271 | +€2,916 | +821.5% |
| Suppliers | 440/4 | €355 | €3,271 | +€2,916 | +821.5% |
| Taxes, remuneration and social security | 45 | €10,301 | €13,246 | +€2,945 | +28.6% |
| Taxes | 450/3 | €7,866 | €10,733 | +€2,867 | +36.5% |
| Remuneration and social security | 454/9 | €2,435 | €2,513 | +€78 | +3.2% |
| Other amounts payable | 47/48 | €47,385 | €42,943 | -€4,442 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,232 | €8,575 | -€657 | -7.1% |
| Other operating charges | 640/8 | €948 | €593 | -€355 | -37.4% |
| Gross operating margin | 9900 | €80,081 | €74,072 | -€6,009 | -7.5% |
| Operating profit (loss) | 9901 | €69,901 | €64,903 | -€4,998 | -7.1% |
| Financial income | 75/76B | €568 | €1,471 | +€903 | +159.0% |
| Recurring financial income | 75 | €568 | €1,471 | +€903 | +159.0% |
| Financial charges | 65/66B | €854 | €999 | +€145 | +16.9% |
| Recurring financial charges | 65 | €854 | €999 | +€145 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €69,615 | €65,376 | -€4,239 | -6.1% |
| Income taxes | 67/77 | €24,695 | €19,877 | -€4,818 | -19.5% |
| Profit (loss) for the period | 9904 | €44,920 | €45,498 | +€578 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,920 | €45,498 | +€578 | +1.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.