ValDéa Project: 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.
ValDéa Project
Largest movements
- Receivables within one year -€18,746
down €18,746 (-62.4%), from €30,042 to €11,296
of which Trade receivables: -€19,158
- Cash +€1,185
up €1,185 (+2.6%), from €44,990 to €46,175
mainly Receivables within one year (+€18,746) and Net result for the year (+€10,782)
- Tangible fixed assets -€1,073
down €1,073 (-36.2%), from €2,968 to €1,895
of which Furniture and vehicles: -€752
- Reserves -€13,193
down €13,193 (-45.5%), from €29,023 to €15,831
- Other debts -€6,500
down €6,500 (-22.0%), from €29,500 to €23,000
- Profit (loss) carried forward +€974
new in 2025: €974
- Gross operating margin -€14,287
down €14,287 (-46.7%), from €30,583 to €16,296
- Taxes -€1,355
down €1,355 (-27.0%), from €5,020 to €3,664
- Depreciation -€1,325
down €1,325 (-55.2%), from €2,398 to €1,073
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 | €78,169 | €59,488 | -€18,682 | -23.9% |
| Fixed assets | 21/28 | €2,968 | €1,895 | -€1,073 | -36.2% |
| Tangible fixed assets | 22/27 | €2,968 | €1,895 | -€1,073 | -36.2% |
| Furniture and vehicles | 24 | €752 | - | -€752 | |
| Other tangible fixed assets | 26 | €2,216 | €1,895 | -€321 | -14.5% |
| Current assets | 29/58 | €75,201 | €57,593 | -€17,608 | -23.4% |
| Amounts receivable within one year | 40/41 | €30,042 | €11,296 | -€18,746 | -62.4% |
| Trade receivables | 40 | €28,596 | €9,438 | -€19,158 | -67.0% |
| Other amounts receivable | 41 | €1,446 | €1,858 | +€412 | +28.5% |
| Cash at bank and in hand | 54/58 | €44,990 | €46,175 | +€1,185 | +2.6% |
| Deferred charges and accrued income | 490/1 | €170 | €122 | -€48 | -28.0% |
| Total equity and liabilities | 10/49 | €78,169 | €59,488 | -€18,682 | -23.9% |
| Equity | 10/15 | €47,623 | €35,405 | -€12,218 | -25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €29,023 | €15,831 | -€13,193 | -45.5% |
| Distributable reserves | 133 | €29,023 | €15,831 | -€13,193 | -45.5% |
| Profit (loss) carried forward | 14 | - | €974 | +€974 | |
| Amounts payable | 17/49 | €30,546 | €24,083 | -€6,463 | -21.2% |
| Amounts payable within one year | 42/48 | €30,480 | €24,083 | -€6,397 | -21.0% |
| Trade debts | 44 | €275 | €612 | +€337 | +122.4% |
| Suppliers | 440/4 | €275 | €612 | +€337 | +122.4% |
| Advances received on contracts in progress | 46 | €705 | - | -€705 | |
| Taxes, remuneration and social security | 45 | - | €471 | +€471 | |
| Taxes | 450/3 | - | €471 | +€471 | |
| Other amounts payable | 47/48 | €29,500 | €23,000 | -€6,500 | -22.0% |
| Accrued charges and deferred income | 492/3 | €66 | - | -€66 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €1,073 | -€1,325 | -55.2% |
| Other operating charges | 640/8 | €689 | €810 | +€120 | +17.4% |
| Gross operating margin | 9900 | €30,583 | €16,296 | -€14,287 | -46.7% |
| Operating profit (loss) | 9901 | €27,495 | €14,413 | -€13,082 | -47.6% |
| Financial income | 75/76B | €13 | €125 | +€111 | +841.2% |
| Recurring financial income | 75 | €13 | €125 | +€111 | +841.2% |
| Financial charges | 65/66B | €176 | €92 | -€85 | -47.9% |
| Recurring financial charges | 65 | €176 | €92 | -€85 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €27,332 | €14,446 | -€12,886 | -47.1% |
| Income taxes | 67/77 | €5,020 | €3,664 | -€1,355 | -27.0% |
| Profit (loss) for the period | 9904 | €22,312 | €10,782 | -€11,531 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,312 | €10,782 | -€11,531 | -51.7% |
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 5 October 2026 via checked.be.