VALENTIN SPRINGAL: 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 SPRINGAL
Largest movements
- Cash +€82,571
up €82,571 (+87.6%), from €94,245 to €176,816
mainly Other debts (+€120,020) and Depreciation (+€78,803)
- Receivables within one year +€41,592
up €41,592 (+3028.0%), from €1,374 to €42,965
of which Trade receivables: +€42,965
- Tangible fixed assets +€34,049
up €34,049 (+18.5%), from €183,678 to €217,728
of which Furniture and vehicles: +€31,345
- Deferred charges and accrued income -€14,400
no longer reported in 2025 (was €14,400)
- Other debts +€120,020
up €120,020 (+204.3%), from €58,734 to €178,755
- Reserves -€63,092
down €63,092 (-36.6%), from €172,549 to €109,457
of which Distributable reserves: -€63,092
- Debts after one year +€38,696
up €38,696 (+77.4%), from €50,000 to €88,696
- Tax, wage and social debts +€32,164
up €32,164 (+731.2%), from €4,399 to €36,563
of which Taxes: +€31,575
- Current portion of long-term debt +€17,015
new in 2025: €17,015
- Gross operating margin +€97,366
up €97,366 (+137.3%), from €70,923 to €168,289
- Depreciation +€23,391
up €23,391 (+42.2%), from €55,412 to €78,803
- Taxes +€14,382
up €14,382 (+5172.9%), from €278 to €14,660
- Staff costs -€2,712
down €2,712 (-24.3%), from €11,174 to €8,462
- Financial charges +€2,518
up €2,518 (+224.0%), from €1,124 to €3,642
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 | €295,218 | €439,029 | +€143,812 | +48.7% |
| Fixed assets | 21/28 | €185,199 | €219,248 | +€34,049 | +18.4% |
| Tangible fixed assets | 22/27 | €183,678 | €217,728 | +€34,049 | +18.5% |
| Land and buildings | 22 | €35,167 | €30,746 | -€4,421 | -12.6% |
| Plant, machinery and equipment | 23 | €82,274 | €89,400 | +€7,126 | +8.7% |
| Furniture and vehicles | 24 | €66,237 | €97,581 | +€31,345 | +47.3% |
| Financial fixed assets | 28 | €1,521 | €1,521 | = | 0.0% |
| Current assets | 29/58 | €110,019 | €219,781 | +€109,762 | +99.8% |
| Amounts receivable within one year | 40/41 | €1,374 | €42,965 | +€41,592 | +3028.0% |
| Trade receivables | 40 | - | €42,965 | +€42,965 | |
| Other amounts receivable | 41 | €1,374 | - | -€1,374 | |
| Cash at bank and in hand | 54/58 | €94,245 | €176,816 | +€82,571 | +87.6% |
| Deferred charges and accrued income | 490/1 | €14,400 | - | -€14,400 | |
| Total equity and liabilities | 10/49 | €295,218 | €439,029 | +€143,812 | +48.7% |
| Equity | 10/15 | €177,653 | €114,560 | -€63,092 | -35.5% |
| Contributions | 10/11 | €42,000 | €42,000 | = | 0.0% |
| Reserves | 13 | €172,549 | €109,457 | -€63,092 | -36.6% |
| Tax-exempt reserves | 132 | €26,931 | €26,931 | = | 0.0% |
| Distributable reserves | 133 | €145,618 | €82,526 | -€63,092 | -43.3% |
| Profit (loss) carried forward | 14 | -€36,897 | -€36,897 | = | 0.0% |
| Amounts payable | 17/49 | €117,565 | €324,469 | +€206,904 | +176.0% |
| Amounts payable after more than one year | 17 | €50,000 | €88,696 | +€38,696 | +77.4% |
| Financial debts | 170/4 | €50,000 | €88,696 | +€38,696 | +77.4% |
| Amounts payable within one year | 42/48 | €67,565 | €235,773 | +€168,208 | +249.0% |
| Current portion of amounts payable after more than one year | 42 | - | €17,015 | +€17,015 | |
| Trade debts | 44 | €4,432 | €1,230 | -€3,202 | -72.2% |
| Suppliers | 440/4 | €4,432 | €1,230 | -€3,202 | -72.2% |
| Advances received on contracts in progress | 46 | - | €2,211 | +€2,211 | |
| Taxes, remuneration and social security | 45 | €4,399 | €36,563 | +€32,164 | +731.2% |
| Taxes | 450/3 | €878 | €32,453 | +€31,575 | +3596.1% |
| Remuneration and social security | 454/9 | €3,521 | €4,110 | +€589 | +16.7% |
| Other amounts payable | 47/48 | €58,734 | €178,755 | +€120,020 | +204.3% |
| Remuneration, social security and pensions | 62 | €11,174 | €8,462 | -€2,712 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,412 | €78,803 | +€23,391 | +42.2% |
| Other operating charges | 640/8 | €3,049 | €3,815 | +€766 | +25.1% |
| Gross operating margin | 9900 | €70,923 | €168,289 | +€97,366 | +137.3% |
| Operating profit (loss) | 9901 | €1,287 | €77,209 | +€75,922 | +5897.8% |
| Financial income | 75/76B | €1,029 | - | -€1,029 | |
| Recurring financial income | 75 | €1,029 | - | -€1,029 | |
| Financial charges | 65/66B | €1,124 | €3,642 | +€2,518 | +224.0% |
| Recurring financial charges | 65 | €1,124 | €3,642 | +€2,518 | +224.0% |
| Profit (loss) for the period before taxes | 9903 | €1,193 | €73,568 | +€72,375 | +6068.1% |
| Income taxes | 67/77 | €278 | €14,660 | +€14,382 | +5172.9% |
| Profit (loss) for the period | 9904 | €915 | €58,908 | +€57,993 | +6340.2% |
| Profit (loss) for the period to be appropriated | 9905 | €915 | €58,908 | +€57,993 | +6340.2% |
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 30 September 2026 via checked.be.