VAL-GIN TRANSPORT: 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-GIN TRANSPORT
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+186%), from €711,268 to €2.0m
of which Trade receivables: +€784,905
- Deferred charges and accrued income -€109,099
no longer reported in 2025 (was €109,099)
- Tangible fixed assets -€99,908
down €99,908 (-26.1%), from €383,493 to €283,585
of which Leasing and similar rights: -€112,730
- Cash -€26,210
down €26,210 (-88.5%), from €29,603 to €3,393
mainly Receivables within one year (-€1.3m) and Net result for the year (-€625,162)
- Trade debts +€1.3m
up €1.3m (+78.3%), from €1.7m to €2.9m
- Profit (loss) carried forward -€625,162
down €625,162 (-57.8%), from -€1.1m to -€1.7m
- Tax, wage and social debts +€492,433
up €492,433 (+95.4%), from €516,142 to €1.0m
of which Remuneration and social security: +€450,204
- Debts after one year -€74,568
down €74,568 (-78.8%), from €94,597 to €20,029
- Turnover -€493,219
down €493,219 (-12.4%), from €4.0m to €3.5m
- Gross operating margin -€252,440
down €252,440 (-20.3%), from €1.2m to €991,084
- Purchases and services -€240,778
down €240,778 (-8.8%), from €2.7m to €2.5m
- Financial charges -€157,700
down €157,700 (-96.3%), from €163,761 to €6,061
- Staff costs -€116,106
down €116,106 (-8.5%), from €1.4m to €1.2m
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 | €1,274,247 | €2,366,765 | +€1.1m | +85.7% |
| Fixed assets | 21/28 | €424,277 | €327,831 | -€96,446 | -22.7% |
| Tangible fixed assets | 22/27 | €383,493 | €283,585 | -€99,908 | -26.1% |
| Plant, machinery and equipment | 23 | €11,247 | €9,322 | -€1,925 | -17.1% |
| Furniture and vehicles | 24 | €8,895 | €23,642 | +€14,747 | +166% |
| Leasing and similar rights | 25 | €363,351 | €250,621 | -€112,730 | -31.0% |
| Financial fixed assets | 28 | €40,784 | €44,246 | +€3,462 | +8.5% |
| Current assets | 29/58 | €849,970 | €2,038,934 | +€1.2m | +140% |
| Amounts receivable within one year | 40/41 | €711,268 | €2,035,541 | +€1.3m | +186% |
| Trade receivables | 40 | €568,824 | €1,353,729 | +€784,905 | +138% |
| Other amounts receivable | 41 | €142,444 | €681,812 | +€539,368 | +379% |
| Cash at bank and in hand | 54/58 | €29,603 | €3,393 | -€26,210 | -88.5% |
| Deferred charges and accrued income | 490/1 | €109,099 | - | -€109,099 | |
| Total equity and liabilities | 10/49 | €1,274,247 | €2,366,765 | +€1.1m | +85.7% |
| Equity | 10/15 | -€1,073,371 | -€1,698,533 | -€625,162 | -58.2% |
| Contributions | 10/11 | €8,124 | €8,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,081,495 | -€1,706,657 | -€625,162 | -57.8% |
| Amounts payable | 17/49 | €2,347,618 | €4,065,298 | +€1.7m | +73.2% |
| Amounts payable after more than one year | 17 | €94,597 | €20,029 | -€74,568 | -78.8% |
| Financial debts | 170/4 | €94,597 | €20,029 | -€74,568 | -78.8% |
| Amounts payable within one year | 42/48 | €2,253,021 | €4,045,269 | +€1.8m | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €83,441 | €72,730 | -€10,711 | -12.8% |
| Financial debts | 43 | - | €15,524 | +€15,524 | |
| Credit institutions | 430/8 | - | €15,524 | +€15,524 | |
| Trade debts | 44 | €1,653,438 | €2,948,440 | +€1.3m | +78.3% |
| Suppliers | 440/4 | €1,653,438 | €2,948,440 | +€1.3m | +78.3% |
| Taxes, remuneration and social security | 45 | €516,142 | €1,008,575 | +€492,433 | +95.4% |
| Taxes | 450/3 | €102,373 | €144,602 | +€42,229 | +41.3% |
| Remuneration and social security | 454/9 | €413,769 | €863,973 | +€450,204 | +109% |
| Turnover | 70 | €3,971,124 | €3,477,905 | -€493,219 | -12.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,727,600 | €2,486,822 | -€240,778 | -8.8% |
| Remuneration, social security and pensions | 62 | €1,361,369 | €1,245,263 | -€116,106 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,514 | €124,196 | +€8,682 | +7.5% |
| Other operating charges | 640/8 | €359,361 | €384,071 | +€24,710 | +6.9% |
| Gross operating margin | 9900 | €1,243,524 | €991,084 | -€252,440 | -20.3% |
| Operating profit (loss) | 9901 | -€592,720 | -€762,446 | -€169,726 | -28.6% |
| Financial income | 75/76B | €98,628 | €143,345 | +€44,717 | +45.3% |
| Recurring financial income | 75 | €5,720 | €129,110 | +€123,390 | +2,157% |
| Non-recurring financial income | 76B | €92,908 | €14,235 | -€78,673 | -84.7% |
| Financial charges | 65/66B | €163,761 | €6,061 | -€157,700 | -96.3% |
| Recurring financial charges | 65 | €163,761 | €6,061 | -€157,700 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | -€657,853 | -€625,162 | +€32,691 | +5.0% |
| Profit (loss) for the period | 9904 | -€657,853 | -€625,162 | +€32,691 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€657,853 | -€625,162 | +€32,691 | +5.0% |
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 1 November 2026 via checked.be.