VELU - VINS: what changed
What changed
VELU - VINS
NACE 46.349, Wholesale of beverages, general range
filed annual accounts (NBB)
Net result for the year
€33,464
2025 · €42,959-€9,495
Equity
€2.2m
2025 · €2.1m+€31,078
Cash
€46,839
2025 · €174,989-€128,150
Balance sheet total
€2.7m
2025 · €2.9m-€190,338
Largest movements
Assets
- Cash -€128,150
down €128,150 (-73.2%), from €174,989 to €46,839
mainly Investment in fixed assets (net) (-€119,952) and Debts after one year (-€95,286)
- Receivables within one year -€114,073
down €114,073 (-12.6%), from €908,696 to €794,623
of which Trade receivables: -€91,872
- Tangible fixed assets +€43,693
up €43,693 (+3.7%), from €1.2m to €1.2m
of which Land and buildings: +€31,888
Equity and liabilities
- Debts after one year -€95,286
down €95,286 (-18.4%), from €516,955 to €421,669
- Current portion of long-term debt -€78,649
down €78,649 (-45.2%), from €173,935 to €95,286
Income statement
- Write-downs +€29,037
up €29,037 (+80.3%), from -€36,167 to -€7,130
- Other operating charges -€26,212
down €26,212 (-21.7%), from €120,700 to €94,488
- Gross operating margin -€11,668
down €11,668 (-4.6%), from €255,800 to €244,132
- Taxes -€6,801
down €6,801 (-22.3%), from €30,530 to €23,729
- Financial charges -€5,298
down €5,298 (-21.5%), from €24,649 to €19,351
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€42,959
Gross operating margin
-€11,668
Depreciation
+€3,142
Write-downs
-€29,037
Provisions
-€2,570
Other operating charges
+€26,212
Other operating items
-€6,722
Financial income
-€952
Financial charges
+€5,298
Taxes
+€6,801
Result 2026
€33,464
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€168,124
Investment
-€119,952
Financing
-€176,322
Cash 2025
€174,989
From operations (derived)
+€168,124
Net result for the year
+€33,464
Depreciation
+€76,260
Stocks and contracts
+€10,308
Receivables within one year
+€114,073
Deferred charges and accrued income
-€18,501
Trade debts
-€10,790
Tax, wage and social debts
-€27,442
Other debts
+€5,940
Accrued charges and deferred income
-€15,189
Investment (derived)
-€119,952
Investment in fixed assets (net)
-€119,952
Financing
-€176,322
Debts after one year
-€95,286
Current portion of long-term debt
-€78,649
Contributions, distributions and other
-€2,387
Cash 2026
€46,839
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,924,884 | €2,734,546 | -€190,338 | -6.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,769,526 | €1,813,218 | +€43,692 | +2.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,195,919 | €1,239,612 | +€43,693 | +3.7% |
| Land and buildings | 22 | €1,173,975 | €1,205,863 | +€31,888 | +2.7% |
| Plant, machinery and equipment | 23 | €6,123 | €4,151 | -€1,972 | -32.2% |
| Furniture and vehicles | 24 | €15,821 | €105 | -€15,716 | -99.3% |
| Assets under construction and advance payments | 27 | - | €29,493 | +€29,493 | |
| Financial fixed assets | 28 | €573,607 | €573,607 | -€0 | 0.0% |
| Current assets | 29/58 | €1,155,358 | €921,328 | -€234,030 | -20.3% |
| Stocks and contracts in progress | 3 | €62,418 | €52,110 | -€10,308 | -16.5% |
| Stocks | 30/36 | €62,418 | €52,110 | -€10,308 | -16.5% |
| Amounts receivable within one year | 40/41 | €908,696 | €794,623 | -€114,073 | -12.6% |
| Trade receivables | 40 | €885,516 | €793,644 | -€91,872 | -10.4% |
| Other amounts receivable | 41 | €23,180 | €979 | -€22,201 | -95.8% |
| Cash at bank and in hand | 54/58 | €174,989 | €46,839 | -€128,150 | -73.2% |
| Deferred charges and accrued income | 490/1 | €9,255 | €27,756 | +€18,501 | +200% |
| Total equity and liabilities | 10/49 | €2,924,884 | €2,734,546 | -€190,338 | -6.5% |
| Equity | 10/15 | €2,127,174 | €2,158,252 | +€31,078 | +1.5% |
| Contributions | 10/11 | €1,177,960 | €1,177,960 | = | 0.0% |
| Capital | 10 | €1,177,960 | €1,177,960 | = | 0.0% |
| Issued capital | 100 | €1,177,960 | €1,177,960 | = | 0.0% |
| Reserves | 13 | €293,315 | €318,575 | +€25,260 | +8.6% |
| Non-distributable reserves | 130/1 | €117,796 | €117,796 | = | 0.0% |
| Legal reserve | 130 | €117,796 | €117,796 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,315 | €49,575 | +€25,260 | +104% |
| Distributable reserves | 133 | €151,204 | €151,204 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €647,646 | €655,850 | +€8,204 | +1.3% |
| Investment grants | 15 | €8,253 | €5,867 | -€2,386 | -28.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €797,710 | €576,294 | -€221,416 | -27.8% |
| Amounts payable after more than one year | 17 | €516,955 | €421,669 | -€95,286 | -18.4% |
| Financial debts | 170/4 | €516,955 | €421,669 | -€95,286 | -18.4% |
| Amounts payable within one year | 42/48 | €261,455 | €150,515 | -€110,940 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €173,935 | €95,286 | -€78,649 | -45.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €32,688 | €21,898 | -€10,790 | -33.0% |
| Suppliers | 440/4 | €32,688 | €21,898 | -€10,790 | -33.0% |
| Taxes, remuneration and social security | 45 | €33,390 | €5,948 | -€27,442 | -82.2% |
| Taxes | 450/3 | €33,390 | €5,948 | -€27,442 | -82.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,442 | €27,382 | +€5,940 | +27.7% |
| Accrued charges and deferred income | 492/3 | €19,300 | €4,111 | -€15,189 | -78.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,402 | €76,260 | -€3,142 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€36,167 | -€7,130 | +€29,037 | +80.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,570 | - | +€2,570 | |
| Other operating charges | 640/8 | €120,700 | €94,488 | -€26,212 | -21.7% |
| Non-recurring operating charges | 66A | €144 | €6,866 | +€6,722 | +4,668% |
| Gross operating margin | 9900 | €255,800 | €244,132 | -€11,668 | -4.6% |
| Operating profit (loss) | 9901 | €94,291 | €73,649 | -€20,642 | -21.9% |
| Financial income | 75/76B | €3,847 | €2,895 | -€952 | -24.7% |
| Recurring financial income | 75 | €3,847 | €2,895 | -€952 | -24.7% |
| Financial charges | 65/66B | €24,649 | €19,351 | -€5,298 | -21.5% |
| Recurring financial charges | 65 | €24,649 | €19,351 | -€5,298 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €73,489 | €57,193 | -€16,296 | -22.2% |
| Income taxes | 67/77 | €30,530 | €23,729 | -€6,801 | -22.3% |
| Profit (loss) for the period | 9904 | €42,959 | €33,464 | -€9,495 | -22.1% |
| Transfer to tax-exempt reserves | 689 | - | €25,260 | +€25,260 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,959 | €8,204 | -€34,755 | -80.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.