GERT VALENT: 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.
GERT VALENT
Largest movements
- Receivables within one year -€17,987
down €17,987 (-20.9%), from €86,138 to €68,150
of which Trade receivables: -€9,812
- Cash +€11,549
up €11,549 (+29.7%), from €38,824 to €50,374
mainly Receivables within one year (+€17,987) and Net result for the year (+€16,340)
- Stocks and contracts -€5,122
down €5,122 (-20.6%), from €24,815 to €19,693
of which Contracts in progress: -€5,000
- Tangible fixed assets +€3,025
up €3,025 (+21.9%), from €13,830 to €16,855
of which Furniture and vehicles: +€3,995
- Other debts +€8,861
up €8,861 (+65.5%), from €13,530 to €22,391
- Trade debts -€8,090
down €8,090 (-21.7%), from €37,327 to €29,237
- Current portion of long-term debt -€6,467
no longer reported in 2025 (was €6,467)
- Tax, wage and social debts -€3,005
down €3,005 (-75.6%), from €3,974 to €969
- Gross operating margin +€18,730
up €18,730 (+104%), from €18,008 to €36,738
- Taxes +€4,758
up €4,758 (+122%), from €3,888 to €8,645
- Depreciation +€3,349
up €3,349 (+51.9%), from €6,448 to €9,797
- Financial charges -€1,684
down €1,684 (-73.4%), from €2,293 to €609
- Other operating charges +€515
up €515 (+49.3%), from €1,046 to €1,561
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 | €164,537 | €156,197 | -€8,340 | -5.1% |
| Fixed assets | 21/28 | €13,830 | €16,855 | +€3,025 | +21.9% |
| Tangible fixed assets | 22/27 | €13,830 | €16,855 | +€3,025 | +21.9% |
| Plant, machinery and equipment | 23 | €1,907 | €1,307 | -€600 | -31.5% |
| Furniture and vehicles | 24 | €9,915 | €13,910 | +€3,995 | +40.3% |
| Other tangible fixed assets | 26 | €2,009 | €1,638 | -€371 | -18.5% |
| Current assets | 29/58 | €150,707 | €139,342 | -€11,365 | -7.5% |
| Stocks and contracts in progress | 3 | €24,815 | €19,693 | -€5,122 | -20.6% |
| Stocks | 30/36 | €9,815 | €9,693 | -€122 | -1.2% |
| Contracts in progress | 37 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €86,138 | €68,150 | -€17,987 | -20.9% |
| Trade receivables | 40 | €76,255 | €66,443 | -€9,812 | -12.9% |
| Other amounts receivable | 41 | €9,883 | €1,707 | -€8,175 | -82.7% |
| Cash at bank and in hand | 54/58 | €38,824 | €50,374 | +€11,549 | +29.7% |
| Deferred charges and accrued income | 490/1 | €930 | €1,125 | +€195 | +21.0% |
| Total equity and liabilities | 10/49 | €164,537 | €156,197 | -€8,340 | -5.1% |
| Equity | 10/15 | €102,740 | €103,600 | +€860 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €96,540 | €97,400 | +€860 | +0.9% |
| Distributable reserves | 133 | €96,540 | €97,400 | +€860 | +0.9% |
| Amounts payable | 17/49 | €61,797 | €52,597 | -€9,200 | -14.9% |
| Amounts payable within one year | 42/48 | €61,297 | €52,597 | -€8,700 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €6,467 | - | -€6,467 | |
| Trade debts | 44 | €37,327 | €29,237 | -€8,090 | -21.7% |
| Suppliers | 440/4 | €37,327 | €29,237 | -€8,090 | -21.7% |
| Taxes, remuneration and social security | 45 | €3,974 | €969 | -€3,005 | -75.6% |
| Taxes | 450/3 | €3,974 | €969 | -€3,005 | -75.6% |
| Other amounts payable | 47/48 | €13,530 | €22,391 | +€8,861 | +65.5% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,448 | €9,797 | +€3,349 | +51.9% |
| Other operating charges | 640/8 | €1,046 | €1,561 | +€515 | +49.3% |
| Gross operating margin | 9900 | €18,008 | €36,738 | +€18,730 | +104% |
| Operating profit (loss) | 9901 | €10,514 | €25,380 | +€14,866 | +141% |
| Financial income | 75/76B | €282 | €215 | -€67 | -23.9% |
| Recurring financial income | 75 | €282 | €215 | -€67 | -23.9% |
| Financial charges | 65/66B | €2,293 | €609 | -€1,684 | -73.4% |
| Recurring financial charges | 65 | €2,293 | €609 | -€1,684 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | €8,503 | €24,986 | +€16,483 | +194% |
| Income taxes | 67/77 | €3,888 | €8,645 | +€4,758 | +122% |
| Profit (loss) for the period | 9904 | €4,615 | €16,340 | +€11,725 | +254% |
| Profit (loss) for the period to be appropriated | 9905 | €4,615 | €16,340 | +€11,725 | +254% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.