VALATECH: what changed
Two fiscal 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.
VALATECH
Largest movements
- Cash -€237,274
down €237,274 (-57.6%), from €412,116 to €174,842
mainly Current investments (-€219,626) and Tax, wage and social debts (-€62,049)
- Current investments +€219,626
up €219,626 (+45.3%), from €484,662 to €704,287
- Tangible fixed assets -€35,667
down €35,667 (-21.7%), from €164,271 to €128,604
of which Furniture and vehicles: -€33,022
- Receivables within one year -€28,891
down €28,891 (-48.2%), from €59,907 to €31,016
of which Trade receivables: -€40,880
- Tax, wage and social debts -€62,049
down €62,049 (-82.6%), from €75,150 to €13,102
of which Taxes: -€46,723
- Debts after one year -€25,000
down €25,000 (-35.4%), from €70,711 to €45,711
- Gross operating margin -€88,909
down €88,909 (-34.9%), from €255,066 to €166,157
- Taxes -€24,896
down €24,896 (-72.0%), from €34,570 to €9,673
- Staff costs -€24,005
down €24,005 (-17.8%), from €134,866 to €110,861
- Financial income -€5,541
down €5,541 (-45.3%), from €12,234 to €6,694
- Depreciation +€5,187
up €5,187 (+14.5%), from €35,736 to €40,923
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.
Cash bridge derived
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 | €1,168,192 | €1,084,563 | -€83,628 | -7.2% |
| Fixed assets | 21/28 | €164,291 | €128,624 | -€35,667 | -21.7% |
| Tangible fixed assets | 22/27 | €164,271 | €128,604 | -€35,667 | -21.7% |
| Plant, machinery and equipment | 23 | €13,830 | €12,002 | -€1,828 | -13.2% |
| Furniture and vehicles | 24 | €145,123 | €112,101 | -€33,022 | -22.8% |
| Other tangible fixed assets | 26 | €5,319 | €4,502 | -€817 | -15.4% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €1,003,901 | €955,939 | -€47,962 | -4.8% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,907 | €31,016 | -€28,891 | -48.2% |
| Trade receivables | 40 | €51,238 | €10,358 | -€40,880 | -79.8% |
| Other amounts receivable | 41 | €8,669 | €20,658 | +€11,988 | +138.3% |
| Current investments | 50/53 | €484,662 | €704,287 | +€219,626 | +45.3% |
| Cash at bank and in hand | 54/58 | €412,116 | €174,842 | -€237,274 | -57.6% |
| Deferred charges and accrued income | 490/1 | €12,217 | €10,794 | -€1,423 | -11.6% |
| Total equity and liabilities | 10/49 | €1,168,192 | €1,084,563 | -€83,628 | -7.2% |
| Equity | 10/15 | €1,008,537 | €1,014,365 | +€5,828 | +0.6% |
| Contributions | 10/11 | €12,608 | €12,608 | = | 0.0% |
| Reserves | 13 | €995,929 | €995,929 | = | 0.0% |
| Distributable reserves | 133 | €995,929 | €995,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €5,828 | +€5,828 | |
| Amounts payable | 17/49 | €159,655 | €70,198 | -€89,456 | -56.0% |
| Amounts payable after more than one year | 17 | €70,711 | €45,711 | -€25,000 | -35.4% |
| Financial debts | 170/4 | €70,711 | €45,711 | -€25,000 | -35.4% |
| Amounts payable within one year | 42/48 | €85,860 | €23,498 | -€62,362 | -72.6% |
| Trade debts | 44 | €7,900 | €6,853 | -€1,047 | -13.3% |
| Suppliers | 440/4 | €7,900 | €6,853 | -€1,047 | -13.3% |
| Taxes, remuneration and social security | 45 | €75,150 | €13,102 | -€62,049 | -82.6% |
| Taxes | 450/3 | €51,542 | €4,819 | -€46,723 | -90.7% |
| Remuneration and social security | 454/9 | €23,609 | €8,283 | -€15,326 | -64.9% |
| Other amounts payable | 47/48 | €2,809 | €3,543 | +€734 | +26.1% |
| Accrued charges and deferred income | 492/3 | €3,084 | €990 | -€2,094 | -67.9% |
| Remuneration, social security and pensions | 62 | €134,866 | €110,861 | -€24,005 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,736 | €40,923 | +€5,187 | +14.5% |
| Other operating charges | 640/8 | €2,553 | €2,779 | +€226 | +8.8% |
| Gross operating margin | 9900 | €255,066 | €166,157 | -€88,909 | -34.9% |
| Operating profit (loss) | 9901 | €81,911 | €11,593 | -€70,317 | -85.8% |
| Financial income | 75/76B | €12,234 | €6,694 | -€5,541 | -45.3% |
| Recurring financial income | 75 | €12,234 | €6,694 | -€5,541 | -45.3% |
| Financial charges | 65/66B | €2,388 | €2,786 | +€398 | +16.7% |
| Recurring financial charges | 65 | €2,388 | €2,786 | +€398 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €91,757 | €15,501 | -€76,256 | -83.1% |
| Income taxes | 67/77 | €34,570 | €9,673 | -€24,896 | -72.0% |
| Profit (loss) for the period | 9904 | €57,187 | €5,828 | -€51,359 | -89.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €57,187 | €5,828 | -€51,359 | -89.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.