VELVET STORE: what changed
VELVET STORE
Largest movements
- Tangible fixed assets -€196,790
down €196,790 (-55.8%), from €352,963 to €156,173
of which Land and buildings: -€164,461
- Receivables within one year +€95,074
up €95,074 (+19.0%), from €500,095 to €595,169
of which Other amounts receivable: +€96,848
- Cash +€86,920
up €86,920 (+817%), from €10,645 to €97,566
mainly Investment in fixed assets (net) (+€157,654) and Net result for the year (+€117,413)
- Stocks and contracts -€40,473
down €40,473 (-21.6%), from €186,970 to €146,496
- Reserves +€117,413
up €117,413 (+19.8%), from €592,069 to €709,483
- Debts after one year -€102,248
down €102,248 (-86.6%), from €118,015 to €15,767
- Short-term financial debts -€33,341
down €33,341 (-100%), from €33,341 to €0
- Current portion of long-term debt -€19,887
down €19,887 (-39.0%), from €51,005 to €31,117
- Trade debts -€17,939
down €17,939 (-20.1%), from €89,353 to €71,414
- Gross operating margin +€37,552
up €37,552 (+7.9%), from €476,812 to €514,365
- Depreciation -€18,093
down €18,093 (-31.6%), from €57,229 to €39,136
- Financial charges +€12,543
up €12,543 (+96.3%), from €13,026 to €25,569
- Taxes +€10,560
up €10,560 (+22.8%), from €46,303 to €56,863
- Staff costs +€6,478
up €6,478 (+2.2%), from €295,027 to €301,505
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,082,483 | €1,036,816 | -€45,667 | -4.2% |
| Fixed assets | 21/28 | €352,963 | €156,173 | -€196,790 | -55.8% |
| Tangible fixed assets | 22/27 | €352,963 | €156,173 | -€196,790 | -55.8% |
| Land and buildings | 22 | €164,461 | €0 | -€164,461 | -100% |
| Plant, machinery and equipment | 23 | €3,311 | €1,573 | -€1,738 | -52.5% |
| Furniture and vehicles | 24 | €7,022 | €9,171 | +€2,149 | +30.6% |
| Other tangible fixed assets | 26 | €178,169 | €143,871 | -€34,298 | -19.3% |
| Assets under construction and advance payments | 27 | - | €1,557 | +€1,557 | |
| Current assets | 29/58 | €729,520 | €880,643 | +€151,123 | +20.7% |
| Stocks and contracts in progress | 3 | €186,970 | €146,496 | -€40,473 | -21.6% |
| Stocks | 30/36 | €186,970 | €146,496 | -€40,473 | -21.6% |
| Amounts receivable within one year | 40/41 | €500,095 | €595,169 | +€95,074 | +19.0% |
| Trade receivables | 40 | €1,774 | €0 | -€1,774 | -100% |
| Other amounts receivable | 41 | €498,321 | €595,169 | +€96,848 | +19.4% |
| Cash at bank and in hand | 54/58 | €10,645 | €97,566 | +€86,920 | +817% |
| Deferred charges and accrued income | 490/1 | €31,810 | €41,412 | +€9,602 | +30.2% |
| Total equity and liabilities | 10/49 | €1,082,483 | €1,036,816 | -€45,667 | -4.2% |
| Equity | 10/15 | €604,469 | €721,883 | +€117,413 | +19.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €592,069 | €709,483 | +€117,413 | +19.8% |
| Distributable reserves | 133 | €592,069 | €709,483 | +€117,413 | +19.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €478,013 | €314,933 | -€163,080 | -34.1% |
| Amounts payable after more than one year | 17 | €118,015 | €15,767 | -€102,248 | -86.6% |
| Financial debts | 170/4 | €118,015 | €15,767 | -€102,248 | -86.6% |
| Amounts payable within one year | 42/48 | €359,797 | €295,022 | -€64,776 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €51,005 | €31,117 | -€19,887 | -39.0% |
| Financial debts | 43 | €33,341 | €0 | -€33,341 | -100% |
| Credit institutions | 430/8 | €33,341 | €0 | -€33,341 | -100% |
| Trade debts | 44 | €89,353 | €71,414 | -€17,939 | -20.1% |
| Suppliers | 440/4 | €89,353 | €71,414 | -€17,939 | -20.1% |
| Taxes, remuneration and social security | 45 | €186,099 | €192,491 | +€6,392 | +3.4% |
| Taxes | 450/3 | €145,006 | €143,527 | -€1,479 | -1.0% |
| Remuneration and social security | 454/9 | €41,093 | €48,964 | +€7,871 | +19.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €201 | €4,144 | +€3,943 | +1,965% |
| Non-recurring operating income | 76A | - | €145,539 | +€145,539 | |
| Remuneration, social security and pensions | 62 | €295,027 | €301,505 | +€6,478 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,229 | €39,136 | -€18,093 | -31.6% |
| Other operating charges | 640/8 | €2,948 | €6,378 | +€3,430 | +116% |
| Gross operating margin | 9900 | €476,812 | €514,365 | +€37,552 | +7.9% |
| Operating profit (loss) | 9901 | €121,609 | €167,346 | +€45,737 | +37.6% |
| Financial income | 75/76B | €30,529 | €32,499 | +€1,971 | +6.5% |
| Recurring financial income | 75 | €30,529 | €32,499 | +€1,971 | +6.5% |
| Financial charges | 65/66B | €13,026 | €25,569 | +€12,543 | +96.3% |
| Recurring financial charges | 65 | €13,026 | €25,569 | +€12,543 | +96.3% |
| Profit (loss) for the period before taxes | 9903 | €139,111 | €174,276 | +€35,165 | +25.3% |
| Income taxes | 67/77 | €46,303 | €56,863 | +€10,560 | +22.8% |
| Profit (loss) for the period | 9904 | €92,809 | €117,413 | +€24,605 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,809 | €117,413 | +€24,605 | +26.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.