Val J: 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 J
Largest movements
- Tangible fixed assets +€6,543
up €6,543 (+34.0%), from €19,235 to €25,778
of which Furniture and vehicles: +€7,762
- Receivables within one year +€3,840
up €3,840 (+10.2%), from €37,728 to €41,568
of which Trade receivables: +€30,278
- Deferred charges and accrued income +€3,162
new in 2025: €3,162
- Formation expenses -€1,122
down €1,122 (-20.0%), from €5,608 to €4,486
- Contributions -€21,500
down €21,500 (-95.6%), from €22,500 to €1,000
- Other debts +€14,092
up €14,092 (+325%), from €4,331 to €18,423
- Debts after one year +€9,247
up €9,247 (+480%), from €1,928 to €11,174
- Profit (loss) carried forward +€5,819
up €5,819 (+822%), from €708 to €6,527
- Tax, wage and social debts +€4,523
up €4,523 (+16.2%), from €27,968 to €32,491
of which Remuneration and social security: +€11,535
- Staff costs +€11,306
up €11,306 (+9.9%), from €113,947 to €125,253
- Financial income +€2,963
up €2,963 (+250%), from €1,185 to €4,148
- Taxes +€2,288
up €2,288 (+1,335%), from €171 to €2,460
- Depreciation +€2,250
up €2,250 (+23.5%), from €9,569 to €11,819
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 | €84,048 | €96,953 | +€12,905 | +15.4% |
| Formation expenses | 20 | €5,608 | €4,486 | -€1,122 | -20.0% |
| Fixed assets | 21/28 | €19,459 | €25,778 | +€6,319 | +32.5% |
| Tangible fixed assets | 22/27 | €19,235 | €25,778 | +€6,543 | +34.0% |
| Plant, machinery and equipment | 23 | €2,667 | €1,448 | -€1,219 | -45.7% |
| Furniture and vehicles | 24 | €16,568 | €24,330 | +€7,762 | +46.9% |
| Financial fixed assets | 28 | €224 | €0 | -€224 | -100% |
| Current assets | 29/58 | €58,981 | €66,689 | +€7,708 | +13.1% |
| Stocks and contracts in progress | 3 | €11,583 | €11,565 | -€19 | -0.2% |
| Stocks | 30/36 | €11,583 | €11,565 | -€19 | -0.2% |
| Amounts receivable within one year | 40/41 | €37,728 | €41,568 | +€3,840 | +10.2% |
| Trade receivables | 40 | €2,811 | €33,089 | +€30,278 | +1,077% |
| Other amounts receivable | 41 | €34,917 | €8,479 | -€26,438 | -75.7% |
| Cash at bank and in hand | 54/58 | €9,670 | €10,393 | +€724 | +7.5% |
| Deferred charges and accrued income | 490/1 | - | €3,162 | +€3,162 | |
| Total equity and liabilities | 10/49 | €84,048 | €96,953 | +€12,905 | +15.4% |
| Equity | 10/15 | €25,458 | €9,777 | -€15,681 | -61.6% |
| Contributions | 10/11 | €22,500 | €1,000 | -€21,500 | -95.6% |
| Reserves | 13 | €2,250 | €2,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €708 | €6,527 | +€5,819 | +822% |
| Amounts payable | 17/49 | €58,590 | €87,176 | +€28,585 | +48.8% |
| Amounts payable after more than one year | 17 | €1,928 | €11,174 | +€9,247 | +480% |
| Financial debts | 170/4 | €1,928 | €11,174 | +€9,247 | +480% |
| Amounts payable within one year | 42/48 | €55,916 | €75,535 | +€19,619 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €7,914 | €5,006 | -€2,907 | -36.7% |
| Trade debts | 44 | €15,704 | €19,614 | +€3,910 | +24.9% |
| Suppliers | 440/4 | €15,704 | €19,614 | +€3,910 | +24.9% |
| Taxes, remuneration and social security | 45 | €27,968 | €32,491 | +€4,523 | +16.2% |
| Taxes | 450/3 | €16,326 | €9,314 | -€7,012 | -43.0% |
| Remuneration and social security | 454/9 | €11,642 | €23,177 | +€11,535 | +99.1% |
| Other amounts payable | 47/48 | €4,331 | €18,423 | +€14,092 | +325% |
| Accrued charges and deferred income | 492/3 | €747 | €467 | -€280 | -37.5% |
| Non-recurring operating income | 76A | €766 | €0 | -€766 | -100% |
| Remuneration, social security and pensions | 62 | €113,947 | €125,253 | +€11,306 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,569 | €11,819 | +€2,250 | +23.5% |
| Other operating charges | 640/8 | €1,532 | €2,044 | +€512 | +33.4% |
| Non-recurring operating charges | 66A | €0 | €158 | +€158 | |
| Gross operating margin | 9900 | €167,474 | €167,973 | +€499 | +0.3% |
| Operating profit (loss) | 9901 | €42,426 | €28,699 | -€13,727 | -32.4% |
| Financial income | 75/76B | €1,185 | €4,148 | +€2,963 | +250% |
| Recurring financial income | 75 | €1,185 | €4,148 | +€2,963 | +250% |
| Financial charges | 65/66B | €5,279 | €6,450 | +€1,171 | +22.2% |
| Recurring financial charges | 65 | €5,279 | €6,450 | +€1,171 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €38,332 | €26,397 | -€11,935 | -31.1% |
| Income taxes | 67/77 | €171 | €2,460 | +€2,288 | +1,335% |
| Profit (loss) for the period | 9904 | €38,160 | €23,937 | -€14,223 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,160 | €23,937 | -€14,223 | -37.3% |
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 25 October 2026 via checked.be.