VALIDOR MANAGEMENT: 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.
VALIDOR MANAGEMENT
Largest movements
- Cash +€114,240
up €114,240 (+366%), from €31,205 to €145,445
mainly Net result for the year (+€105,782) and Depreciation (+€40,642)
- Tangible fixed assets -€33,495
down €33,495 (-10.6%), from €315,693 to €282,199
of which Furniture and vehicles: -€17,697
- Receivables within one year -€33,475
down €33,475 (-46.1%), from €72,572 to €39,097
of which Trade receivables: -€44,421
- Reserves +€75,613
up €75,613 (+21.1%), from €358,977 to €434,591
- Short-term financial debts -€26,352
down €26,352 (-74.3%), from €35,472 to €9,120
of which Other loans: -€30,000
- Debts after one year -€17,232
down €17,232 (-37.6%), from €45,805 to €28,573
- Tax, wage and social debts +€17,173
up €17,173 (+208%), from €8,241 to €25,414
- Trade debts -€11,294
down €11,294 (-63.6%), from €17,767 to €6,473
- Gross operating margin +€34,309
up €34,309 (+20.7%), from €165,941 to €200,250
- Taxes +€12,789
up €12,789 (+36.3%), from €35,198 to €47,987
- Financial charges -€11,083
down €11,083 (-74.8%), from €14,820 to €3,737
- Financial income -€4,756
down €4,756 (-95.3%), from €4,990 to €234
- Depreciation +€2,047
up €2,047 (+5.3%), from €38,595 to €40,642
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.
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 | €493,245 | €540,563 | +€47,319 | +9.6% |
| Fixed assets | 21/28 | €315,693 | €282,199 | -€33,495 | -10.6% |
| Tangible fixed assets | 22/27 | €315,693 | €282,199 | -€33,495 | -10.6% |
| Land and buildings | 22 | €179,053 | €171,518 | -€7,534 | -4.2% |
| Plant, machinery and equipment | 23 | €8,184 | €6,688 | -€1,497 | -18.3% |
| Furniture and vehicles | 24 | €81,549 | €63,851 | -€17,697 | -21.7% |
| Other tangible fixed assets | 26 | €46,908 | €40,141 | -€6,766 | -14.4% |
| Current assets | 29/58 | €177,552 | €258,365 | +€80,813 | +45.5% |
| Amounts receivable after more than one year | 29 | €71,000 | €71,000 | = | 0.0% |
| Other amounts receivable | 291 | €71,000 | €71,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,572 | €39,097 | -€33,475 | -46.1% |
| Trade receivables | 40 | €64,421 | €20,000 | -€44,421 | -69.0% |
| Other amounts receivable | 41 | €8,151 | €19,097 | +€10,946 | +134% |
| Cash at bank and in hand | 54/58 | €31,205 | €145,445 | +€114,240 | +366% |
| Deferred charges and accrued income | 490/1 | €2,774 | €2,823 | +€49 | +1.8% |
| Total equity and liabilities | 10/49 | €493,245 | €540,563 | +€47,319 | +9.6% |
| Equity | 10/15 | €365,177 | €440,791 | +€75,613 | +20.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €358,977 | €434,591 | +€75,613 | +21.1% |
| Distributable reserves | 133 | €358,977 | €434,591 | +€75,613 | +21.1% |
| Amounts payable | 17/49 | €128,068 | €99,773 | -€28,295 | -22.1% |
| Amounts payable after more than one year | 17 | €45,805 | €28,573 | -€17,232 | -37.6% |
| Financial debts | 170/4 | €45,805 | €28,573 | -€17,232 | -37.6% |
| Amounts payable within one year | 42/48 | €79,827 | €69,647 | -€10,179 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €16,629 | €17,232 | +€603 | +3.6% |
| Financial debts | 43 | €35,472 | €9,120 | -€26,352 | -74.3% |
| Credit institutions | 430/8 | €5,472 | €9,120 | +€3,648 | +66.7% |
| Other loans | 439 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €17,767 | €6,473 | -€11,294 | -63.6% |
| Suppliers | 440/4 | €17,767 | €6,473 | -€11,294 | -63.6% |
| Taxes, remuneration and social security | 45 | €8,241 | €25,414 | +€17,173 | +208% |
| Taxes | 450/3 | €8,241 | €25,414 | +€17,173 | +208% |
| Other amounts payable | 47/48 | €1,718 | €11,408 | +€9,690 | +564% |
| Accrued charges and deferred income | 492/3 | €2,435 | €1,552 | -€883 | -36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,595 | €40,642 | +€2,047 | +5.3% |
| Other operating charges | 640/8 | €3,448 | €2,338 | -€1,110 | -32.2% |
| Gross operating margin | 9900 | €165,941 | €200,250 | +€34,309 | +20.7% |
| Operating profit (loss) | 9901 | €123,898 | €157,271 | +€33,373 | +26.9% |
| Financial income | 75/76B | €4,990 | €234 | -€4,756 | -95.3% |
| Recurring financial income | 75 | €4,990 | €234 | -€4,756 | -95.3% |
| Financial charges | 65/66B | €14,820 | €3,737 | -€11,083 | -74.8% |
| Recurring financial charges | 65 | €14,820 | €3,737 | -€11,083 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | €114,069 | €153,768 | +€39,700 | +34.8% |
| Income taxes | 67/77 | €35,198 | €47,987 | +€12,789 | +36.3% |
| Profit (loss) for the period | 9904 | €78,871 | €105,782 | +€26,911 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,871 | €105,782 | +€26,911 | +34.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.