Valerie Devos: 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.
Valerie Devos
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Deferred charges and accrued income -€9,340
no longer reported in 2025 (was €9,340)
- Cash +€4,449
up €4,449 (+6.6%), from €67,483 to €71,932
mainly Current investments (+€100,000) and Net result for the year (+€48,201)
- Tangible fixed assets -€2,046
down €2,046 (-18.6%), from €11,006 to €8,961
of which Furniture and vehicles: -€1,853
- Other debts -€102,113
down €102,113 (-67.6%), from €151,114 to €49,001
- Trade debts -€9,036
down €9,036 (-100.0%), from €9,036 to €0
- Tax, wage and social debts +€5,328
up €5,328 (+46.6%), from €11,434 to €16,762
- Gross operating margin +€4,267
up €4,267 (+7.3%), from €58,584 to €62,850
- Financial income -€2,393
down €2,393 (-78.4%), from €3,052 to €660
- Taxes +€702
up €702 (+5.9%), from €11,881 to €12,584
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 | €187,829 | €80,893 | -€106,936 | -56.9% |
| Fixed assets | 21/28 | €11,006 | €8,961 | -€2,046 | -18.6% |
| Tangible fixed assets | 22/27 | €11,006 | €8,961 | -€2,046 | -18.6% |
| Plant, machinery and equipment | 23 | €932 | €739 | -€193 | -20.7% |
| Furniture and vehicles | 24 | €10,074 | €8,221 | -€1,853 | -18.4% |
| Current assets | 29/58 | €176,822 | €71,932 | -€104,890 | -59.3% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €67,483 | €71,932 | +€4,449 | +6.6% |
| Deferred charges and accrued income | 490/1 | €9,340 | - | -€9,340 | |
| Total equity and liabilities | 10/49 | €187,829 | €80,893 | -€106,936 | -56.9% |
| Equity | 10/15 | €15,297 | €15,000 | -€297 | -1.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €297 | - | -€297 | |
| Distributable reserves | 133 | €297 | - | -€297 | |
| Amounts payable | 17/49 | €172,532 | €65,893 | -€106,639 | -61.8% |
| Amounts payable within one year | 42/48 | €171,584 | €65,764 | -€105,821 | -61.7% |
| Trade debts | 44 | €9,036 | €0 | -€9,036 | -100.0% |
| Suppliers | 440/4 | €9,036 | €0 | -€9,036 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,434 | €16,762 | +€5,328 | +46.6% |
| Taxes | 450/3 | €11,434 | €16,762 | +€5,328 | +46.6% |
| Other amounts payable | 47/48 | €151,114 | €49,001 | -€102,113 | -67.6% |
| Accrued charges and deferred income | 492/3 | €948 | €129 | -€819 | -86.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,307 | €2,046 | -€261 | -11.3% |
| Other operating charges | 640/8 | €594 | €632 | +€38 | +6.4% |
| Gross operating margin | 9900 | €58,584 | €62,850 | +€4,267 | +7.3% |
| Operating profit (loss) | 9901 | €55,683 | €60,172 | +€4,490 | +8.1% |
| Financial income | 75/76B | €3,052 | €660 | -€2,393 | -78.4% |
| Recurring financial income | 75 | €3,052 | €660 | -€2,393 | -78.4% |
| Financial charges | 65/66B | €610 | €48 | -€563 | -92.2% |
| Recurring financial charges | 65 | €610 | €48 | -€563 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €58,125 | €60,785 | +€2,660 | +4.6% |
| Income taxes | 67/77 | €11,881 | €12,584 | +€702 | +5.9% |
| Profit (loss) for the period | 9904 | €46,244 | €48,201 | +€1,957 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,244 | €48,201 | +€1,957 | +4.2% |
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 25 October 2026 via checked.be.