B Valorisation: 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.
B Valorisation
Largest movements
- Receivables within one year -€336,812
down €336,812 (-83.8%), from €401,951 to €65,138
of which Other amounts receivable: -€339,084
- Tangible fixed assets +€18,893
up €18,893 (+5.7%), from €334,287 to €353,180
of which Land and buildings: +€15,209
- Financial fixed assets -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Other debts -€275,893
down €275,893 (-80.2%), from €344,122 to €68,229
- Reserves -€38,500
down €38,500 (-41.1%), from €93,686 to €55,186
- Debts after one year -€19,552
down €19,552 (-7.1%), from €274,917 to €255,365
of which Financial debts: -€19,552
- Gross operating margin -€385,128
down €385,128, from €368,834 to -€16,294
- Taxes -€86,976
down €86,976 (-100.0%), from €86,976 to €0
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 | €755,465 | €422,943 | -€332,522 | -44.0% |
| Fixed assets | 21/28 | €344,287 | €353,180 | +€8,893 | +2.6% |
| Tangible fixed assets | 22/27 | €334,287 | €353,180 | +€18,893 | +5.7% |
| Land and buildings | 22 | €331,002 | €346,211 | +€15,209 | +4.6% |
| Plant, machinery and equipment | 23 | €489 | €3,264 | +€2,775 | +567.9% |
| Furniture and vehicles | 24 | €2,796 | €3,705 | +€908 | +32.5% |
| Financial fixed assets | 28 | €10,000 | €0 | -€10,000 | -100.0% |
| Current assets | 29/58 | €411,178 | €69,763 | -€341,415 | -83.0% |
| Amounts receivable within one year | 40/41 | €401,951 | €65,138 | -€336,812 | -83.8% |
| Trade receivables | 40 | €5,914 | €8,186 | +€2,272 | +38.4% |
| Other amounts receivable | 41 | €396,036 | €56,952 | -€339,084 | -85.6% |
| Cash at bank and in hand | 54/58 | €8,227 | €4,625 | -€3,602 | -43.8% |
| Deferred charges and accrued income | 490/1 | €1,000 | €0 | -€1,000 | -100.0% |
| Total equity and liabilities | 10/49 | €755,465 | €422,943 | -€332,522 | -44.0% |
| Equity | 10/15 | €112,767 | €74,620 | -€38,147 | -33.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €93,686 | €55,186 | -€38,500 | -41.1% |
| Distributable reserves | 133 | €93,686 | €55,186 | -€38,500 | -41.1% |
| Profit (loss) carried forward | 14 | €489 | €842 | +€353 | +72.3% |
| Amounts payable | 17/49 | €642,698 | €348,323 | -€294,375 | -45.8% |
| Amounts payable after more than one year | 17 | €274,917 | €255,365 | -€19,552 | -7.1% |
| Financial debts | 170/4 | €273,717 | €254,165 | -€19,552 | -7.1% |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €367,781 | €92,958 | -€274,823 | -74.7% |
| Current portion of amounts payable after more than one year | 42 | €18,925 | €19,552 | +€627 | +3.3% |
| Trade debts | 44 | €3,683 | €4,325 | +€642 | +17.4% |
| Suppliers | 440/4 | €3,683 | €4,325 | +€642 | +17.4% |
| Taxes, remuneration and social security | 45 | €1,051 | €852 | -€199 | -19.0% |
| Taxes | 450/3 | €1,051 | €852 | -€199 | -19.0% |
| Other amounts payable | 47/48 | €344,122 | €68,229 | -€275,893 | -80.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,737 | €11,385 | +€2,648 | +30.3% |
| Other operating charges | 640/8 | €1,862 | €1,231 | -€631 | -33.9% |
| Gross operating margin | 9900 | €368,834 | -€16,294 | -€385,128 | |
| Operating profit (loss) | 9901 | €358,235 | -€28,909 | -€387,145 | |
| Financial income | 75/76B | €1,737 | €136 | -€1,600 | -92.1% |
| Recurring financial income | 75 | €1,737 | €136 | -€1,600 | -92.1% |
| Financial charges | 65/66B | €10,507 | €9,374 | -€1,134 | -10.8% |
| Recurring financial charges | 65 | €10,507 | €9,374 | -€1,134 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €349,465 | -€38,147 | -€387,611 | |
| Income taxes | 67/77 | €86,976 | €0 | -€86,976 | -100.0% |
| Profit (loss) for the period | 9904 | €262,489 | -€38,147 | -€300,635 | |
| Profit (loss) for the period to be appropriated | 9905 | €262,489 | -€38,147 | -€300,635 |
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 7 October 2026 via checked.be.