IMPACT VALLEY: what changed
IMPACT VALLEY
Largest movements
- Cash -€30,035
down €30,035 (-89.3%), from €33,634 to €3,599
mainly Trade debts (-€84,745) and Debts after one year (-€32,879)
- Intangible fixed assets +€14,262
new in 2025: €14,262
- Deferred charges and accrued income -€4,511
no longer reported in 2025 (was €4,511)
- Tangible fixed assets -€3,305
down €3,305 (-33.1%), from €9,982 to €6,677
of which Other tangible fixed assets: -€1,750
- Receivables within one year -€2,815
down €2,815 (-5.5%), from €51,527 to €48,712
of which Other amounts receivable: -€4,863
- Trade debts -€84,745
down €84,745 (-69.6%), from €121,744 to €36,999
- Contributions +€69,300
up €69,300 (+86.2%), from €80,354 to €149,654
- Profit (loss) carried forward +€54,761
up €54,761 (+21.6%), from -€253,623 to -€198,863
- Debts after one year -€32,879
down €32,879 (-44.8%), from €73,394 to €40,515
of which Financial debts: -€20,258
- Tax, wage and social debts -€26,806
down €26,806 (-71.7%), from €37,391 to €10,585
of which Remuneration and social security: -€13,776
- Gross operating margin +€114,386
up €114,386, from -€22,262 to €92,125
- Staff costs -€23,307
down €23,307 (-42.3%), from €55,135 to €31,828
- Write-downs +€4,111
no longer reported in 2025 (was -€4,111)
- Depreciation -€3,811
down €3,811 (-45.6%), from €8,354 to €4,542
- Other operating charges -€3,407
down €3,407 (-82.9%), from €4,111 to €704
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,419 | €74,015 | -€26,404 | -26.3% |
| Fixed assets | 21/28 | €9,982 | €20,939 | +€10,958 | +110% |
| Intangible fixed assets | 21 | - | €14,262 | +€14,262 | |
| Tangible fixed assets | 22/27 | €9,982 | €6,677 | -€3,305 | -33.1% |
| Furniture and vehicles | 24 | €2,584 | €1,029 | -€1,555 | -60.2% |
| Other tangible fixed assets | 26 | €7,398 | €5,648 | -€1,750 | -23.7% |
| Current assets | 29/58 | €90,437 | €53,076 | -€37,361 | -41.3% |
| Amounts receivable within one year | 40/41 | €51,527 | €48,712 | -€2,815 | -5.5% |
| Trade receivables | 40 | €40,929 | €42,977 | +€2,048 | +5.0% |
| Other amounts receivable | 41 | €10,598 | €5,735 | -€4,863 | -45.9% |
| Current investments | 50/53 | €765 | €765 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,634 | €3,599 | -€30,035 | -89.3% |
| Deferred charges and accrued income | 490/1 | €4,511 | - | -€4,511 | |
| Total equity and liabilities | 10/49 | €100,419 | €74,015 | -€26,404 | -26.3% |
| Equity | 10/15 | -€173,269 | -€49,209 | +€124,061 | +71.6% |
| Contributions | 10/11 | €80,354 | €149,654 | +€69,300 | +86.2% |
| Contributions outside capital | 11 | €80,354 | - | -€80,354 | |
| Other | 1109/19 | €80,354 | - | -€80,354 | |
| Profit (loss) carried forward | 14 | -€253,623 | -€198,863 | +€54,761 | +21.6% |
| Amounts payable | 17/49 | €273,689 | €123,224 | -€150,464 | -55.0% |
| Amounts payable after more than one year | 17 | €73,394 | €40,515 | -€32,879 | -44.8% |
| Financial debts | 170/4 | €47,900 | €27,642 | -€20,258 | -42.3% |
| Other amounts payable | 178/9 | €25,495 | €12,873 | -€12,621 | -49.5% |
| Amounts payable within one year | 42/48 | €200,294 | €82,629 | -€117,665 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €27,178 | €20,258 | -€6,921 | -25.5% |
| Financial debts | 43 | - | €951 | +€951 | |
| Credit institutions | 430/8 | - | €951 | +€951 | |
| Trade debts | 44 | €121,744 | €36,999 | -€84,745 | -69.6% |
| Suppliers | 440/4 | €121,744 | €36,999 | -€84,745 | -69.6% |
| Taxes, remuneration and social security | 45 | €37,391 | €10,585 | -€26,806 | -71.7% |
| Taxes | 450/3 | €14,921 | €1,892 | -€13,029 | -87.3% |
| Remuneration and social security | 454/9 | €22,470 | €8,694 | -€13,776 | -61.3% |
| Other amounts payable | 47/48 | €13,982 | €13,836 | -€146 | -1.0% |
| Accrued charges and deferred income | 492/3 | - | €80 | +€80 | |
| Remuneration, social security and pensions | 62 | €55,135 | €31,828 | -€23,307 | -42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,354 | €4,542 | -€3,811 | -45.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,111 | - | +€4,111 | |
| Other operating charges | 640/8 | €4,111 | €704 | -€3,407 | -82.9% |
| Non-recurring operating charges | 66A | €4,162 | - | -€4,162 | |
| Gross operating margin | 9900 | -€22,262 | €92,125 | +€114,386 | |
| Operating profit (loss) | 9901 | -€89,913 | €55,050 | +€144,963 | |
| Financial income | 75/76B | €254 | €1,894 | +€1,640 | +645% |
| Recurring financial income | 75 | €254 | €1,894 | +€1,640 | +645% |
| Financial charges | 65/66B | €3,613 | €2,183 | -€1,430 | -39.6% |
| Recurring financial charges | 65 | €3,613 | €2,183 | -€1,430 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | -€93,272 | €54,761 | +€148,033 | |
| Profit (loss) for the period | 9904 | -€93,272 | €54,761 | +€148,033 | |
| Profit (loss) for the period to be appropriated | 9905 | -€93,272 | €54,761 | +€148,033 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.