VALIDEL: 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.
VALIDEL
Largest movements
- Tangible fixed assets -€38,932
down €38,932 (-3.5%), from €1.1m to €1.1m
of which Land and buildings: -€36,827
- Cash +€19,737
up €19,737 (+67.3%), from €29,309 to €49,045
mainly Depreciation (+€38,932) and Other debts (+€1,308)
- Debts after one year -€13,356
down €13,356 (-5.2%), from €259,216 to €245,859
- Gross operating margin +€4,928
up €4,928 (+13.5%), from €36,450 to €41,379
- Financial charges +€2,309
up €2,309 (+46.9%), from €4,927 to €7,236
of which Non-recurring financial charges: +€2,298
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 | €1,146,231 | €1,127,116 | -€19,115 | -1.7% |
| Fixed assets | 21/28 | €1,115,552 | €1,076,620 | -€38,932 | -3.5% |
| Tangible fixed assets | 22/27 | €1,115,552 | €1,076,620 | -€38,932 | -3.5% |
| Land and buildings | 22 | €1,106,558 | €1,069,731 | -€36,827 | -3.3% |
| Plant, machinery and equipment | 23 | €8,993 | €6,888 | -€2,105 | -23.4% |
| Current assets | 29/58 | €30,679 | €50,496 | +€19,817 | +64.6% |
| Cash at bank and in hand | 54/58 | €29,309 | €49,045 | +€19,737 | +67.3% |
| Deferred charges and accrued income | 490/1 | €1,370 | €1,451 | +€80 | +5.9% |
| Total equity and liabilities | 10/49 | €1,146,231 | €1,127,116 | -€19,115 | -1.7% |
| Equity | 10/15 | €653,420 | €647,632 | -€5,789 | -0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €494,676 | €494,676 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,544 | €84,756 | -€5,789 | -6.4% |
| Amounts payable | 17/49 | €492,811 | €479,484 | -€13,327 | -2.7% |
| Amounts payable after more than one year | 17 | €259,216 | €245,859 | -€13,356 | -5.2% |
| Financial debts | 170/4 | €259,216 | €245,859 | -€13,356 | -5.2% |
| Amounts payable within one year | 42/48 | €233,595 | €233,625 | +€30 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €13,124 | €13,356 | +€232 | +1.8% |
| Trade debts | 44 | €3,652 | €2,142 | -€1,511 | -41.4% |
| Suppliers | 440/4 | €3,652 | €2,142 | -€1,511 | -41.4% |
| Other amounts payable | 47/48 | €216,818 | €218,127 | +€1,308 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,766 | €38,932 | +€167 | +0.4% |
| Other operating charges | 640/8 | €1,082 | €998 | -€83 | -7.7% |
| Gross operating margin | 9900 | €36,450 | €41,379 | +€4,928 | +13.5% |
| Operating profit (loss) | 9901 | -€3,397 | €1,448 | +€4,845 | |
| Financial charges | 65/66B | €4,927 | €7,236 | +€2,309 | +46.9% |
| Recurring financial charges | 65 | €4,927 | €4,938 | +€11 | +0.2% |
| Non-recurring financial charges | 66B | - | €2,298 | +€2,298 | |
| Profit (loss) for the period before taxes | 9903 | -€8,324 | -€5,789 | +€2,536 | +30.5% |
| Profit (loss) for the period | 9904 | -€8,324 | -€5,789 | +€2,536 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,324 | -€5,789 | +€2,536 | +30.5% |
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 7 October 2026 via checked.be.