VELVET: 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.
VELVET
Largest movements
- Cash -€43,796
down €43,796 (-21.9%), from €199,679 to €155,883
mainly Contributions, distributions and other (-€164,998) and Receivables within one year (-€31,222)
- Receivables within one year +€31,222
up €31,222 (+353.4%), from €8,834 to €40,056
of which Trade receivables: +€33,135
- Profit (loss) carried forward -€165,694
down €165,694, from €164,998 to -€697
- Other debts +€145,054
up €145,054 (+947.0%), from €15,318 to €160,372
- Tax, wage and social debts +€10,624
up €10,624 (+36.4%), from €29,197 to €39,821
of which Remuneration and social security: +€14,763
- Trade debts -€4,486
down €4,486 (-41.4%), from €10,827 to €6,340
- Gross operating margin -€6,117
down €6,117 (-57.5%), from €10,631 to €4,514
- Taxes -€2,183
down €2,183 (-53.3%), from €4,096 to €1,913
- Other operating charges +€620
up €620 (+117.4%), from €528 to €1,148
- Financial charges -€163
down €163 (-40.2%), from €405 to €242
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 | €222,339 | €207,837 | -€14,502 | -6.5% |
| Fixed assets | 21/28 | €13,412 | €11,505 | -€1,907 | -14.2% |
| Tangible fixed assets | 22/27 | €13,412 | €11,505 | -€1,907 | -14.2% |
| Land and buildings | 22 | €13,095 | €11,505 | -€1,590 | -12.1% |
| Furniture and vehicles | 24 | €317 | - | -€317 | |
| Current assets | 29/58 | €208,927 | €196,332 | -€12,595 | -6.0% |
| Amounts receivable within one year | 40/41 | €8,834 | €40,056 | +€31,222 | +353.4% |
| Trade receivables | 40 | €1,815 | €34,950 | +€33,135 | +1825.6% |
| Other amounts receivable | 41 | €7,019 | €5,106 | -€1,913 | -27.3% |
| Cash at bank and in hand | 54/58 | €199,679 | €155,883 | -€43,796 | -21.9% |
| Deferred charges and accrued income | 490/1 | €414 | €393 | -€20 | -4.9% |
| Total equity and liabilities | 10/49 | €222,339 | €207,837 | -€14,502 | -6.5% |
| Equity | 10/15 | €166,998 | €1,303 | -€165,694 | -99.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,998 | -€697 | -€165,694 | |
| Amounts payable | 17/49 | €55,341 | €206,533 | +€151,192 | +273.2% |
| Amounts payable within one year | 42/48 | €55,341 | €206,533 | +€151,192 | +273.2% |
| Trade debts | 44 | €10,827 | €6,340 | -€4,486 | -41.4% |
| Suppliers | 440/4 | €10,827 | €6,340 | -€4,486 | -41.4% |
| Taxes, remuneration and social security | 45 | €29,197 | €39,821 | +€10,624 | +36.4% |
| Taxes | 450/3 | €10,117 | €5,978 | -€4,138 | -40.9% |
| Remuneration and social security | 454/9 | €19,081 | €33,843 | +€14,763 | +77.4% |
| Other amounts payable | 47/48 | €15,318 | €160,372 | +€145,054 | +947.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,984 | €1,907 | -€77 | -3.9% |
| Other operating charges | 640/8 | €528 | €1,148 | +€620 | +117.4% |
| Gross operating margin | 9900 | €10,631 | €4,514 | -€6,117 | -57.5% |
| Operating profit (loss) | 9901 | €8,119 | €1,459 | -€6,660 | -82.0% |
| Financial charges | 65/66B | €405 | €242 | -€163 | -40.2% |
| Recurring financial charges | 65 | €405 | €242 | -€163 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €7,714 | €1,216 | -€6,497 | -84.2% |
| Income taxes | 67/77 | €4,096 | €1,913 | -€2,183 | -53.3% |
| Profit (loss) for the period | 9904 | €3,618 | -€697 | -€4,314 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,618 | -€697 | -€4,314 |
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 6 October 2026 via checked.be.