Valerian: 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.
Valerian
Largest movements
- Cash -€43,918
down €43,918 (-92.0%), from €47,730 to €3,812
mainly Tax, wage and social debts (-€29,610) and Net result for the year (-€14,194)
- Tangible fixed assets -€12,072
down €12,072 (-42.1%), from €28,649 to €16,577
of which Leasing and similar rights: -€10,927
- Tax, wage and social debts -€29,610
down €29,610 (-93.4%), from €31,710 to €2,100
- Profit (loss) carried forward -€14,194
new in 2025: -€14,194
- Current portion of long-term debt -€9,292
no longer reported in 2025 (was €9,292)
- Other debts -€3,641
down €3,641 (-6.9%), from €52,445 to €48,804
- Gross operating margin -€79,802
down €79,802 (-92.9%), from €85,943 to €6,141
- Taxes -€15,445
down €15,445 (-99.0%), from €15,597 to €152
- Financial charges -€9,934
down €9,934 (-73.3%), from €13,554 to €3,621
- Financial income -€6,779
no longer reported in 2025 (was €6,779)
- Other operating charges +€1,232
up €1,232 (+165.9%), from €742 to €1,974
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 | €308,143 | €252,301 | -€55,842 | -18.1% |
| Fixed assets | 21/28 | €28,649 | €16,577 | -€12,072 | -42.1% |
| Tangible fixed assets | 22/27 | €28,649 | €16,577 | -€12,072 | -42.1% |
| Furniture and vehicles | 24 | €4,070 | €5,084 | +€1,015 | +24.9% |
| Leasing and similar rights | 25 | €10,927 | - | -€10,927 | |
| Other tangible fixed assets | 26 | €13,652 | €11,493 | -€2,159 | -15.8% |
| Current assets | 29/58 | €279,495 | €235,724 | -€43,770 | -15.7% |
| Amounts receivable within one year | 40/41 | €193,461 | €193,461 | = | 0.0% |
| Trade receivables | 40 | €4,840 | €4,840 | = | 0.0% |
| Other amounts receivable | 41 | €188,621 | €188,621 | = | 0.0% |
| Current investments | 50/53 | €36,515 | €36,515 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,730 | €3,812 | -€43,918 | -92.0% |
| Deferred charges and accrued income | 490/1 | €1,788 | €1,936 | +€147 | +8.2% |
| Total equity and liabilities | 10/49 | €308,143 | €252,301 | -€55,842 | -18.1% |
| Equity | 10/15 | €212,305 | €198,112 | -€14,194 | -6.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €207,305 | €207,305 | = | 0.0% |
| Distributable reserves | 133 | €207,305 | €207,305 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€14,194 | -€14,194 | |
| Amounts payable | 17/49 | €95,838 | €54,190 | -€41,648 | -43.5% |
| Amounts payable within one year | 42/48 | €95,838 | €51,493 | -€44,345 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €9,292 | - | -€9,292 | |
| Trade debts | 44 | €2,391 | €588 | -€1,803 | -75.4% |
| Suppliers | 440/4 | €2,391 | €588 | -€1,803 | -75.4% |
| Taxes, remuneration and social security | 45 | €31,710 | €2,100 | -€29,610 | -93.4% |
| Taxes | 450/3 | €31,710 | €2,100 | -€29,610 | -93.4% |
| Other amounts payable | 47/48 | €52,445 | €48,804 | -€3,641 | -6.9% |
| Accrued charges and deferred income | 492/3 | - | €2,697 | +€2,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,409 | €14,588 | -€821 | -5.3% |
| Other operating charges | 640/8 | €742 | €1,974 | +€1,232 | +165.9% |
| Gross operating margin | 9900 | €85,943 | €6,141 | -€79,802 | -92.9% |
| Operating profit (loss) | 9901 | €69,791 | -€10,421 | -€80,212 | |
| Financial income | 75/76B | €6,779 | - | -€6,779 | |
| Recurring financial income | 75 | €6,779 | - | -€6,779 | |
| Financial charges | 65/66B | €13,554 | €3,621 | -€9,934 | -73.3% |
| Recurring financial charges | 65 | €13,554 | €3,621 | -€9,934 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €63,016 | -€14,042 | -€77,058 | |
| Income taxes | 67/77 | €15,597 | €152 | -€15,445 | -99.0% |
| Profit (loss) for the period | 9904 | €47,419 | -€14,194 | -€61,613 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,419 | -€14,194 | -€61,613 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.