VAL CERAMICS: 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.
VAL CERAMICS
Largest movements
- Stocks and contracts +€110,521
up €110,521 (+103%), from €107,594 to €218,114
- Cash -€30,546
down €30,546 (-72.7%), from €42,007 to €11,461
mainly Stocks and contracts (-€110,521) and Investment in fixed assets (net) (-€47,167)
- Tangible fixed assets +€29,607
up €29,607 (+78.2%), from €37,880 to €67,487
of which Furniture and vehicles: +€36,734
- Receivables within one year +€19,145
up €19,145 (+44.6%), from €42,894 to €62,039
- Trade debts +€56,691
up €56,691 (+1,667%), from €3,400 to €60,091
- Other debts +€52,012
up €52,012 (+779%), from €6,674 to €58,686
- Profit (loss) carried forward +€13,661
up €13,661, from -€1,137 to €12,523
- Tax, wage and social debts +€5,841
up €5,841 (+17.8%), from €32,871 to €38,712
of which Taxes: +€10,698
- Gross operating margin +€46,539
up €46,539 (+34.9%), from €133,330 to €179,869
- Staff costs +€12,515
up €12,515 (+10.7%), from €117,181 to €129,696
- Taxes +€7,258
up €7,258 (+220%), from €3,297 to €10,556
- Financial income +€6,149
up €6,149 (+1,420%), from €433 to €6,582
- Depreciation +€4,736
up €4,736 (+36.9%), from €12,825 to €17,560
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 | €231,807 | €360,012 | +€128,205 | +55.3% |
| Fixed assets | 21/28 | €37,880 | €67,487 | +€29,607 | +78.2% |
| Tangible fixed assets | 22/27 | €37,880 | €67,487 | +€29,607 | +78.2% |
| Plant, machinery and equipment | 23 | €22,949 | €15,822 | -€7,127 | -31.1% |
| Furniture and vehicles | 24 | €14,931 | €51,665 | +€36,734 | +246% |
| Current assets | 29/58 | €193,927 | €292,525 | +€98,598 | +50.8% |
| Stocks and contracts in progress | 3 | €107,594 | €218,114 | +€110,521 | +103% |
| Stocks | 30/36 | €107,594 | €218,114 | +€110,521 | +103% |
| Amounts receivable within one year | 40/41 | €42,894 | €62,039 | +€19,145 | +44.6% |
| Trade receivables | 40 | €42,894 | €62,039 | +€19,145 | +44.6% |
| Cash at bank and in hand | 54/58 | €42,007 | €11,461 | -€30,546 | -72.7% |
| Deferred charges and accrued income | 490/1 | €1,432 | €911 | -€521 | -36.4% |
| Total equity and liabilities | 10/49 | €231,807 | €360,012 | +€128,205 | +55.3% |
| Equity | 10/15 | €13,863 | €27,523 | +€13,661 | +98.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,137 | €12,523 | +€13,661 | |
| Amounts payable | 17/49 | €217,944 | €332,489 | +€114,544 | +52.6% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €142,944 | €257,489 | +€114,544 | +80.1% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €3,400 | €60,091 | +€56,691 | +1,667% |
| Suppliers | 440/4 | €3,400 | €60,091 | +€56,691 | +1,667% |
| Taxes, remuneration and social security | 45 | €32,871 | €38,712 | +€5,841 | +17.8% |
| Taxes | 450/3 | €16,645 | €27,343 | +€10,698 | +64.3% |
| Remuneration and social security | 454/9 | €16,226 | €11,369 | -€4,857 | -29.9% |
| Other amounts payable | 47/48 | €6,674 | €58,686 | +€52,012 | +779% |
| Remuneration, social security and pensions | 62 | €117,181 | €129,696 | +€12,515 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,825 | €17,560 | +€4,736 | +36.9% |
| Other operating charges | 640/8 | €1,166 | €1,349 | +€183 | +15.7% |
| Gross operating margin | 9900 | €133,330 | €179,869 | +€46,539 | +34.9% |
| Operating profit (loss) | 9901 | €2,159 | €31,263 | +€29,105 | +1,348% |
| Financial income | 75/76B | €433 | €6,582 | +€6,149 | +1,420% |
| Recurring financial income | 75 | €433 | €6,582 | +€6,149 | +1,420% |
| Financial charges | 65/66B | €10,958 | €13,629 | +€2,671 | +24.4% |
| Recurring financial charges | 65 | €10,958 | €13,629 | +€2,671 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,366 | €24,216 | +€32,583 | |
| Income taxes | 67/77 | €3,297 | €10,556 | +€7,258 | +220% |
| Profit (loss) for the period | 9904 | -€11,663 | €13,661 | +€25,324 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,663 | €13,661 | +€25,324 |
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 28 October 2026 via checked.be.