DE VALK: 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 VALK
Largest movements
- Cash -€54,315
down €54,315 (-79.3%), from €68,495 to €14,180
mainly Other debts (-€68,416) and Investment in fixed assets (net) (-€10,611)
- Tangible fixed assets -€9,395
down €9,395 (-5.4%), from €174,644 to €165,249
of which Furniture and vehicles: -€13,883
- Receivables within one year +€4,116
up €4,116 (+62.1%), from €6,631 to €10,747
of which Trade receivables: +€10,747
- Other debts -€68,416
down €68,416 (-60.8%), from €112,496 to €44,080
- Reserves +€21,664
up €21,664 (+30.8%), from €70,250 to €91,913
- Debts after one year -€9,449
down €9,449 (-43.5%), from €21,725 to €12,276
- Trade debts -€3,479
down €3,479 (-65.3%), from €5,330 to €1,852
- Gross operating margin -€32,755
down €32,755 (-37.6%), from €87,056 to €54,301
- Taxes -€7,014
down €7,014 (-52.5%), from €13,369 to €6,354
- Financial charges +€1,447
up €1,447 (+39.3%), from €3,681 to €5,128
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 | €250,667 | €190,609 | -€60,058 | -24.0% |
| Fixed assets | 21/28 | €174,644 | €165,249 | -€9,395 | -5.4% |
| Tangible fixed assets | 22/27 | €174,644 | €165,249 | -€9,395 | -5.4% |
| Land and buildings | 22 | €128,782 | €133,271 | +€4,489 | +3.5% |
| Furniture and vehicles | 24 | €45,861 | €31,978 | -€13,883 | -30.3% |
| Current assets | 29/58 | €76,023 | €25,360 | -€50,663 | -66.6% |
| Amounts receivable within one year | 40/41 | €6,631 | €10,747 | +€4,116 | +62.1% |
| Trade receivables | 40 | €0 | €10,747 | +€10,747 | |
| Other amounts receivable | 41 | €6,631 | €0 | -€6,631 | -100.0% |
| Cash at bank and in hand | 54/58 | €68,495 | €14,180 | -€54,315 | -79.3% |
| Deferred charges and accrued income | 490/1 | €897 | €433 | -€464 | -51.7% |
| Total equity and liabilities | 10/49 | €250,667 | €190,609 | -€60,058 | -24.0% |
| Equity | 10/15 | €88,850 | €110,513 | +€21,664 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,250 | €91,913 | +€21,664 | +30.8% |
| Distributable reserves | 133 | €70,250 | €91,913 | +€21,664 | +30.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €161,817 | €80,096 | -€81,721 | -50.5% |
| Amounts payable after more than one year | 17 | €21,725 | €12,276 | -€9,449 | -43.5% |
| Financial debts | 170/4 | €21,725 | €12,276 | -€9,449 | -43.5% |
| Amounts payable within one year | 42/48 | €137,702 | €63,769 | -€73,933 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €9,130 | €9,449 | +€319 | +3.5% |
| Trade debts | 44 | €5,330 | €1,852 | -€3,479 | -65.3% |
| Suppliers | 440/4 | €5,330 | €1,852 | -€3,479 | -65.3% |
| Taxes, remuneration and social security | 45 | €10,746 | €8,388 | -€2,358 | -21.9% |
| Taxes | 450/3 | €10,746 | €8,388 | -€2,358 | -21.9% |
| Other amounts payable | 47/48 | €112,496 | €44,080 | -€68,416 | -60.8% |
| Accrued charges and deferred income | 492/3 | €2,390 | €4,051 | +€1,661 | +69.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,123 | €20,006 | -€117 | -0.6% |
| Other operating charges | 640/8 | €1,138 | €1,150 | +€12 | +1.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,056 | €54,301 | -€32,755 | -37.6% |
| Operating profit (loss) | 9901 | €65,795 | €33,145 | -€32,650 | -49.6% |
| Financial income | 75/76B | €12 | €1 | -€11 | -95.0% |
| Recurring financial income | 75 | €12 | €1 | -€11 | -95.0% |
| Financial charges | 65/66B | €3,681 | €5,128 | +€1,447 | +39.3% |
| Recurring financial charges | 65 | €3,681 | €5,128 | +€1,447 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €62,126 | €28,018 | -€34,108 | -54.9% |
| Income taxes | 67/77 | €13,369 | €6,354 | -€7,014 | -52.5% |
| Profit (loss) for the period | 9904 | €48,758 | €21,664 | -€27,094 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,758 | €21,664 | -€27,094 | -55.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.