DE VALDOZENDE: what changed
Two financial 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.
DE VALDOZENDE
Largest movements
- Cash +€51,166
up €51,166 (+99.6%), from €51,395 to €102,561
mainly Other debts (+€75,093) and Depreciation (+€39,036)
- Financial fixed assets -€50,325
down €50,325 (-18.2%), from €276,825 to €226,500
- Current investments +€40,000
new in 2025: €40,000
- Tangible fixed assets -€18,211
down €18,211 (-3.6%), from €506,589 to €488,378
of which Land and buildings: -€23,129
- Other debts +€75,093
up €75,093 (+26.5%), from €283,440 to €358,533
- Debts after one year -€61,383
down €61,383 (-14.6%), from €419,176 to €357,793
of which Financial debts: -€50,583
- Profit (loss) carried forward +€10,636
up €10,636 (+6.0%), from €178,122 to €188,758
- Gross operating margin -€11,913
down €11,913 (-12.5%), from €95,467 to €83,554
- Financial charges -€6,850
down €6,850 (-15.3%), from €44,729 to €37,879
- Depreciation -€5,021
down €5,021 (-11.4%), from €44,057 to €39,036
- Provisions +€3,200
up €3,200 (+22.9%), from -€14,000 to -€10,800
- Financial income +€2,905
up €2,905 (+293%), from €993 to €3,898
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.
Derived cash bridge
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 | €997,800 | €1,012,507 | +€14,707 | +1.5% |
| Fixed assets | 21/28 | €783,414 | €714,878 | -€68,536 | -8.7% |
| Tangible fixed assets | 22/27 | €506,589 | €488,378 | -€18,211 | -3.6% |
| Land and buildings | 22 | €363,951 | €340,822 | -€23,129 | -6.4% |
| Plant, machinery and equipment | 23 | €127,638 | €132,556 | +€4,918 | +3.9% |
| Furniture and vehicles | 24 | €15,000 | €15,000 | = | 0.0% |
| Financial fixed assets | 28 | €276,825 | €226,500 | -€50,325 | -18.2% |
| Current assets | 29/58 | €214,386 | €297,629 | +€83,243 | +38.8% |
| Amounts receivable within one year | 40/41 | €160,487 | €150,412 | -€10,075 | -6.3% |
| Trade receivables | 40 | €65,026 | €65,026 | = | 0.0% |
| Other amounts receivable | 41 | €95,461 | €85,386 | -€10,075 | -10.6% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €51,395 | €102,561 | +€51,166 | +99.6% |
| Deferred charges and accrued income | 490/1 | €2,504 | €4,656 | +€2,152 | +85.9% |
| Total equity and liabilities | 10/49 | €997,800 | €1,012,507 | +€14,707 | +1.5% |
| Equity | 10/15 | €199,847 | €208,133 | +€8,286 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,525 | €13,175 | -€2,350 | -15.1% |
| Tax-exempt reserves | 132 | €13,525 | €11,175 | -€2,350 | -17.4% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,122 | €188,758 | +€10,636 | +6.0% |
| Provisions and deferred taxes | 16 | €33,977 | €25,321 | -€8,656 | -25.5% |
| Provisions for liabilities and charges | 160/5 | €27,215 | €19,733 | -€7,482 | -27.5% |
| Environmental obligations | 163 | €27,215 | €19,733 | -€7,482 | -27.5% |
| Deferred taxes | 168 | €6,762 | €5,588 | -€1,174 | -17.4% |
| Amounts payable | 17/49 | €763,976 | €779,053 | +€15,077 | +2.0% |
| Amounts payable after more than one year | 17 | €419,176 | €357,793 | -€61,383 | -14.6% |
| Financial debts | 170/4 | €408,376 | €357,793 | -€50,583 | -12.4% |
| Other amounts payable | 178/9 | €10,800 | - | -€10,800 | |
| Amounts payable within one year | 42/48 | €344,800 | €420,070 | +€75,270 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €52,726 | €50,135 | -€2,591 | -4.9% |
| Trade debts | 44 | €396 | €1,747 | +€1,351 | +341% |
| Suppliers | 440/4 | €396 | €1,747 | +€1,351 | +341% |
| Advances received on contracts in progress | 46 | €6,020 | €7,460 | +€1,440 | +23.9% |
| Taxes, remuneration and social security | 45 | €2,218 | €2,195 | -€23 | -1.0% |
| Taxes | 450/3 | €2,218 | €2,195 | -€23 | -1.0% |
| Other amounts payable | 47/48 | €283,440 | €358,533 | +€75,093 | +26.5% |
| Accrued charges and deferred income | 492/3 | - | €1,190 | +€1,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,057 | €39,036 | -€5,021 | -11.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€14,000 | -€10,800 | +€3,200 | +22.9% |
| Other operating charges | 640/8 | €8,915 | €9,226 | +€311 | +3.5% |
| Non-recurring operating charges | 66A | €89 | - | -€89 | |
| Gross operating margin | 9900 | €95,467 | €83,554 | -€11,913 | -12.5% |
| Operating profit (loss) | 9901 | €56,406 | €46,092 | -€10,314 | -18.3% |
| Financial income | 75/76B | €993 | €3,898 | +€2,905 | +293% |
| Recurring financial income | 75 | €993 | €3,898 | +€2,905 | +293% |
| Financial charges | 65/66B | €44,729 | €37,879 | -€6,850 | -15.3% |
| Recurring financial charges | 65 | €44,729 | €37,879 | -€6,850 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €12,670 | €12,111 | -€559 | -4.4% |
| Transfer from deferred taxes | 780 | €5,099 | €3,524 | -€1,575 | -30.9% |
| Income taxes | 67/77 | €3,820 | €4,999 | +€1,179 | +30.9% |
| Profit (loss) for the period | 9904 | €13,949 | €10,636 | -€3,313 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,949 | €10,636 | -€3,313 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.