VAL NOTRE DAME HYDRO: 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 NOTRE DAME HYDRO
Largest movements
- Tangible fixed assets -€23,054
down €23,054 (-12.6%), from €183,630 to €160,575
- Cash +€16,898
up €16,898 (+149%), from €11,326 to €28,224
mainly Other debts (+€28,900) and Depreciation (+€28,059)
- Receivables within one year -€6,296
down €6,296 (-32.0%), from €19,698 to €13,402
of which Trade receivables: -€6,296
- Other debts +€28,900
up €28,900 (+18.1%), from €159,733 to €188,633
- Debts after one year -€16,296
down €16,296 (-9.2%), from €177,829 to €161,533
- Trade debts -€11,982
down €11,982 (-72.6%), from €16,499 to €4,517
- Investment grants -€8,996
down €8,996 (-19.0%), from €47,380 to €38,384
- Profit (loss) carried forward -€3,329
down €3,329 (-1.5%), from -€224,073 to -€227,402
- Gross operating margin -€5,366
down €5,366 (-18.9%), from €28,438 to €23,071
- Financial charges -€1,052
down €1,052 (-13.2%), from €7,958 to €6,907
- Depreciation -€786
down €786 (-2.7%), from €28,845 to €28,059
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 | €214,653 | €202,201 | -€12,452 | -5.8% |
| Fixed assets | 21/28 | €183,630 | €160,575 | -€23,054 | -12.6% |
| Tangible fixed assets | 22/27 | €183,630 | €160,575 | -€23,054 | -12.6% |
| Plant, machinery and equipment | 23 | €183,630 | €160,575 | -€23,054 | -12.6% |
| Current assets | 29/58 | €31,024 | €41,626 | +€10,602 | +34.2% |
| Amounts receivable within one year | 40/41 | €19,698 | €13,402 | -€6,296 | -32.0% |
| Trade receivables | 40 | €19,698 | €13,402 | -€6,296 | -32.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €11,326 | €28,224 | +€16,898 | +149% |
| Total equity and liabilities | 10/49 | €214,653 | €202,201 | -€12,452 | -5.8% |
| Equity | 10/15 | -€158,093 | -€170,418 | -€12,325 | -7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,073 | -€227,402 | -€3,329 | -1.5% |
| Investment grants | 15 | €47,380 | €38,384 | -€8,996 | -19.0% |
| Amounts payable | 17/49 | €372,746 | €372,619 | -€128 | 0.0% |
| Amounts payable after more than one year | 17 | €177,829 | €161,533 | -€16,296 | -9.2% |
| Financial debts | 170/4 | €177,829 | €161,533 | -€16,296 | -9.2% |
| Amounts payable within one year | 42/48 | €193,020 | €211,086 | +€18,066 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €15,429 | €17,614 | +€2,185 | +14.2% |
| Trade debts | 44 | €16,499 | €4,517 | -€11,982 | -72.6% |
| Suppliers | 440/4 | €16,499 | €4,517 | -€11,982 | -72.6% |
| Taxes, remuneration and social security | 45 | €1,358 | €321 | -€1,037 | -76.4% |
| Taxes | 450/3 | €1,358 | €321 | -€1,037 | -76.4% |
| Other amounts payable | 47/48 | €159,733 | €188,633 | +€28,900 | +18.1% |
| Accrued charges and deferred income | 492/3 | €1,898 | €0 | -€1,898 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,845 | €28,059 | -€786 | -2.7% |
| Other operating charges | 640/8 | €387 | €430 | +€42 | +11.0% |
| Gross operating margin | 9900 | €28,438 | €23,071 | -€5,366 | -18.9% |
| Operating profit (loss) | 9901 | -€794 | -€5,418 | -€4,623 | -582% |
| Financial income | 75/76B | €8,996 | €8,996 | = | 0.0% |
| Recurring financial income | 75 | €8,996 | €8,996 | = | 0.0% |
| Financial charges | 65/66B | €7,958 | €6,907 | -€1,052 | -13.2% |
| Recurring financial charges | 65 | €7,958 | €6,907 | -€1,052 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €243 | -€3,329 | -€3,572 | |
| Profit (loss) for the period | 9904 | €243 | -€3,329 | -€3,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €243 | -€3,329 | -€3,572 |
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 29 October 2026 via checked.be.