H. VALIENTE: 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.
H. VALIENTE
Largest movements
- Tangible fixed assets -€8,333
no longer reported in 2025 (was €8,333)
- Receivables within one year +€2,843
up €2,843 (+6.8%), from €42,055 to €44,898
of which Other amounts receivable: +€4,937
- Cash -€1,486
down €1,486 (-10.8%), from €13,796 to €12,310
mainly Contributions, distributions and other (-€14,000) and Trade debts (-€5,078)
- Trade debts -€5,078
down €5,078 (-64.4%), from €7,880 to €2,802
- Other debts -€3,000
down €3,000 (-17.6%), from €17,000 to €14,000
- Tax, wage and social debts +€1,431
up €1,431 (+138.5%), from €1,033 to €2,464
of which Remuneration and social security: +€1,450
- Other operating charges -€15,053
down €15,053 (-98.4%), from €15,297 to €243
- Gross operating margin -€6,088
down €6,088 (-19.3%), from €31,605 to €25,517
- Financial charges -€1,944
down €1,944 (-93.2%), from €2,085 to €141
- Staff costs +€1,193
new in 2025: €1,193
- Taxes +€903
up €903 (+87.4%), from €1,033 to €1,936
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 | €64,205 | €57,228 | -€6,977 | -10.9% |
| Fixed assets | 21/28 | €8,333 | - | -€8,333 | |
| Tangible fixed assets | 22/27 | €8,333 | - | -€8,333 | |
| Furniture and vehicles | 24 | €8,333 | - | -€8,333 | |
| Current assets | 29/58 | €55,872 | €57,228 | +€1,356 | +2.4% |
| Amounts receivable within one year | 40/41 | €42,055 | €44,898 | +€2,843 | +6.8% |
| Trade receivables | 40 | €5,000 | €2,905 | -€2,095 | -41.9% |
| Other amounts receivable | 41 | €37,055 | €41,993 | +€4,937 | +13.3% |
| Cash at bank and in hand | 54/58 | €13,796 | €12,310 | -€1,486 | -10.8% |
| Deferred charges and accrued income | 490/1 | €20 | €20 | = | 0.0% |
| Total equity and liabilities | 10/49 | €64,205 | €57,228 | -€6,977 | -10.9% |
| Equity | 10/15 | €38,292 | €37,963 | -€330 | -0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,850 | €1,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,850 | €1,850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,850 | €1,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,242 | €29,913 | -€330 | -1.1% |
| Amounts payable | 17/49 | €25,913 | €19,266 | -€6,647 | -25.7% |
| Amounts payable within one year | 42/48 | €25,913 | €19,266 | -€6,647 | -25.7% |
| Trade debts | 44 | €7,880 | €2,802 | -€5,078 | -64.4% |
| Suppliers | 440/4 | €7,880 | €2,802 | -€5,078 | -64.4% |
| Taxes, remuneration and social security | 45 | €1,033 | €2,464 | +€1,431 | +138.5% |
| Taxes | 450/3 | €1,033 | €1,014 | -€19 | -1.9% |
| Remuneration and social security | 454/9 | - | €1,450 | +€1,450 | |
| Other amounts payable | 47/48 | €17,000 | €14,000 | -€3,000 | -17.6% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | - | €1,193 | +€1,193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,333 | €8,333 | +€0 | 0.0% |
| Other operating charges | 640/8 | €15,297 | €243 | -€15,053 | -98.4% |
| Gross operating margin | 9900 | €31,605 | €25,517 | -€6,088 | -19.3% |
| Operating profit (loss) | 9901 | €7,975 | €15,747 | +€7,772 | +97.5% |
| Financial charges | 65/66B | €2,085 | €141 | -€1,944 | -93.2% |
| Recurring financial charges | 65 | €2,085 | €141 | -€1,944 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €5,890 | €15,606 | +€9,716 | +165.0% |
| Income taxes | 67/77 | €1,033 | €1,936 | +€903 | +87.4% |
| Profit (loss) for the period | 9904 | €4,857 | €13,670 | +€8,813 | +181.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,857 | €13,670 | +€8,813 | +181.5% |
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.