VALDI 65: 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.
VALDI 65
Largest movements
- Receivables within one year +€26,295
up €26,295 (+222%), from €11,857 to €38,152
of which Trade receivables: +€20,736
- Tangible fixed assets -€23,504
down €23,504 (-66.8%), from €35,202 to €11,698
of which Leasing and similar rights: -€21,016
- Cash -€14,268
down €14,268 (-68.1%), from €20,945 to €6,677
mainly Receivables within one year (-€26,295) and Contributions, distributions and other (-€18,000)
- Trade debts +€20,995
up €20,995 (+196%), from €10,704 to €31,700
- Debts after one year -€14,403
down €14,403 (-89.6%), from €16,072 to €1,669
- Current portion of long-term debt -€7,177
down €7,177 (-46.6%), from €15,414 to €8,237
- Reserves -€7,002
no longer reported in 2025 (was €7,002)
- Profit (loss) carried forward -€1,809
down €1,809 (-78.9%), from €2,293 to €484
- Staff costs +€28,717
up €28,717 (+70.3%), from €40,826 to €69,542
- Gross operating margin +€26,322
up €26,322 (+26.8%), from €98,196 to €124,518
- Depreciation -€6,784
down €6,784 (-48.2%), from €14,089 to €7,304
- Taxes -€5,496
down €5,496 (-57.0%), from €9,636 to €4,140
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 | €74,586 | €63,030 | -€11,556 | -15.5% |
| Fixed assets | 21/28 | €35,285 | €11,781 | -€23,504 | -66.6% |
| Tangible fixed assets | 22/27 | €35,202 | €11,698 | -€23,504 | -66.8% |
| Plant, machinery and equipment | 23 | €7,129 | €5,041 | -€2,088 | -29.3% |
| Leasing and similar rights | 25 | €27,117 | €6,101 | -€21,016 | -77.5% |
| Other tangible fixed assets | 26 | €957 | €557 | -€400 | -41.8% |
| Financial fixed assets | 28 | €83 | €83 | = | 0.0% |
| Current assets | 29/58 | €39,301 | €51,249 | +€11,948 | +30.4% |
| Stocks and contracts in progress | 3 | €4,746 | €4,546 | -€200 | -4.2% |
| Stocks | 30/36 | €4,746 | €4,546 | -€200 | -4.2% |
| Amounts receivable within one year | 40/41 | €11,857 | €38,152 | +€26,295 | +222% |
| Trade receivables | 40 | €356 | €21,092 | +€20,736 | +5,826% |
| Other amounts receivable | 41 | €11,501 | €17,061 | +€5,560 | +48.3% |
| Cash at bank and in hand | 54/58 | €20,945 | €6,677 | -€14,268 | -68.1% |
| Deferred charges and accrued income | 490/1 | €1,753 | €1,874 | +€121 | +6.9% |
| Total equity and liabilities | 10/49 | €74,586 | €63,030 | -€11,556 | -15.5% |
| Equity | 10/15 | €15,495 | €6,684 | -€8,810 | -56.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,002 | - | -€7,002 | |
| Tax-exempt reserves | 132 | €7,002 | - | -€7,002 | |
| Profit (loss) carried forward | 14 | €2,293 | €484 | -€1,809 | -78.9% |
| Provisions and deferred taxes | 16 | €1,750 | - | -€1,750 | |
| Deferred taxes | 168 | €1,750 | - | -€1,750 | |
| Amounts payable | 17/49 | €57,341 | €56,346 | -€995 | -1.7% |
| Amounts payable after more than one year | 17 | €16,072 | €1,669 | -€14,403 | -89.6% |
| Financial debts | 170/4 | €16,072 | €1,669 | -€14,403 | -89.6% |
| Amounts payable within one year | 42/48 | €41,269 | €54,677 | +€13,407 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €15,414 | €8,237 | -€7,177 | -46.6% |
| Financial debts | 43 | €737 | - | -€737 | |
| Credit institutions | 430/8 | €737 | - | -€737 | |
| Trade debts | 44 | €10,704 | €31,700 | +€20,995 | +196% |
| Suppliers | 440/4 | €10,704 | €31,700 | +€20,995 | +196% |
| Taxes, remuneration and social security | 45 | €14,414 | €14,740 | +€326 | +2.3% |
| Taxes | 450/3 | €10,649 | €7,026 | -€3,623 | -34.0% |
| Remuneration and social security | 454/9 | €3,765 | €7,714 | +€3,948 | +105% |
| Non-recurring operating income | 76A | €3,654 | €28,794 | +€25,140 | +688% |
| Remuneration, social security and pensions | 62 | €40,826 | €69,542 | +€28,717 | +70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,089 | €7,304 | -€6,784 | -48.2% |
| Other operating charges | 640/8 | €1,043 | €1,071 | +€28 | +2.7% |
| Non-recurring operating charges | 66A | €4,682 | €32,187 | +€27,505 | +587% |
| Gross operating margin | 9900 | €98,196 | €124,518 | +€26,322 | +26.8% |
| Operating profit (loss) | 9901 | €37,556 | €14,413 | -€23,144 | -61.6% |
| Financial income | 75/76B | €42 | €53 | +€11 | +26.8% |
| Recurring financial income | 75 | €42 | €53 | +€11 | +26.8% |
| Financial charges | 65/66B | €2,444 | €2,886 | +€442 | +18.1% |
| Recurring financial charges | 65 | €2,444 | €2,886 | +€442 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €35,154 | €11,579 | -€23,575 | -67.1% |
| Transfer from deferred taxes | 780 | €744 | €1,750 | +€1,007 | +135% |
| Income taxes | 67/77 | €9,636 | €4,140 | -€5,496 | -57.0% |
| Profit (loss) for the period | 9904 | €26,262 | €9,190 | -€17,072 | -65.0% |
| Transfer from tax-exempt reserves | 789 | €2,975 | €7,002 | +€4,027 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €29,237 | €16,191 | -€13,045 | -44.6% |
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 14 October 2026 via checked.be.