VALENTIN: 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.
VALENTIN
Largest movements
- Tangible fixed assets -€17,444
down €17,444 (-29.2%), from €59,646 to €42,202
of which Other tangible fixed assets: -€13,684
- Cash -€12,266
down €12,266 (-20.5%), from €59,746 to €47,480
mainly Trade debts (-€15,528) and Receivables within one year (-€10,795)
- Receivables within one year +€10,795
up €10,795 (+25.1%), from €42,958 to €53,753
of which Other amounts receivable: +€27,685
- Deferred charges and accrued income -€2,655
down €2,655 (-87.0%), from €3,051 to €396
- Trade debts -€15,528
down €15,528 (-71.8%), from €21,617 to €6,089
- Other debts -€4,619
down €4,619 (-58.2%), from €7,933 to €3,314
- Turnover -€101,780
no longer reported in 2025 (was €101,780)
- Purchases and services -€80,779
no longer reported in 2025 (was €80,779)
- Gross operating margin -€5,611
down €5,611 (-26.7%), from €21,001 to €15,389
- Write-downs -€3,000
no longer reported in 2025 (was €3,000)
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 | €185,955 | €164,553 | -€21,402 | -11.5% |
| Fixed assets | 21/28 | €59,646 | €42,202 | -€17,444 | -29.2% |
| Tangible fixed assets | 22/27 | €59,646 | €42,202 | -€17,444 | -29.2% |
| Plant, machinery and equipment | 23 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Furniture and vehicles | 24 | €6,687 | €4,927 | -€1,760 | -26.3% |
| Other tangible fixed assets | 26 | €48,959 | €35,275 | -€13,684 | -28.0% |
| Current assets | 29/58 | €126,308 | €122,351 | -€3,958 | -3.1% |
| Stocks and contracts in progress | 3 | €20,553 | €20,721 | +€167 | +0.8% |
| Stocks | 30/36 | €20,553 | €20,721 | +€167 | +0.8% |
| Amounts receivable within one year | 40/41 | €42,958 | €53,753 | +€10,795 | +25.1% |
| Trade receivables | 40 | €27,140 | €10,250 | -€16,890 | -62.2% |
| Other amounts receivable | 41 | €15,819 | €43,504 | +€27,685 | +175.0% |
| Cash at bank and in hand | 54/58 | €59,746 | €47,480 | -€12,266 | -20.5% |
| Deferred charges and accrued income | 490/1 | €3,051 | €396 | -€2,655 | -87.0% |
| Total equity and liabilities | 10/49 | €185,955 | €164,553 | -€21,402 | -11.5% |
| Equity | 10/15 | €44,518 | €42,036 | -€2,482 | -5.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,029 | €14,047 | -€982 | -6.5% |
| Investment grants | 15 | €4,489 | €2,989 | -€1,500 | -33.4% |
| Amounts payable | 17/49 | €141,437 | €122,516 | -€18,921 | -13.4% |
| Amounts payable after more than one year | 17 | €109,328 | €109,328 | = | 0.0% |
| Other amounts payable | 178/9 | €109,328 | €109,328 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,109 | €13,189 | -€18,921 | -58.9% |
| Trade debts | 44 | €21,617 | €6,089 | -€15,528 | -71.8% |
| Suppliers | 440/4 | €21,617 | €6,089 | -€15,528 | -71.8% |
| Advances received on contracts in progress | 46 | €454 | €454 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,105 | €3,332 | +€1,227 | +58.3% |
| Taxes | 450/3 | €2,105 | €3,332 | +€1,227 | +58.3% |
| Other amounts payable | 47/48 | €7,933 | €3,314 | -€4,619 | -58.2% |
| Turnover | 70 | €101,780 | - | -€101,780 | |
| Goods, raw materials, services and sundry goods | 60/61 | €80,779 | - | -€80,779 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,692 | €17,444 | +€752 | +4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,000 | - | -€3,000 | |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €21,001 | €15,389 | -€5,611 | -26.7% |
| Operating profit (loss) | 9901 | €924 | -€2,442 | -€3,367 | |
| Financial income | 75/76B | €1,728 | €1,681 | -€47 | -2.7% |
| Recurring financial income | 75 | €1,728 | €1,681 | -€47 | -2.7% |
| Financial charges | 65/66B | €135 | €220 | +€86 | +63.8% |
| Recurring financial charges | 65 | €135 | €220 | +€86 | +63.8% |
| Profit (loss) for the period before taxes | 9903 | €2,518 | -€982 | -€3,499 | |
| Profit (loss) for the period | 9904 | €2,518 | -€982 | -€3,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,518 | -€982 | -€3,499 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.