VALIDUS: 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.
VALIDUS
Largest movements
- Receivables within one year -€68,206
down €68,206 (-82.5%), from €82,702 to €14,496
of which Trade receivables: -€40,932
- Cash -€31,206
down €31,206 (-48.1%), from €64,924 to €33,718
mainly Trade debts (-€38,504) and Provisions (-€22,500)
- Trade debts -€38,504
down €38,504 (-85.7%), from €44,926 to €6,422
- Provisions -€22,500
down €22,500 (-100%), from €22,500 to €0
- Debts after one year -€14,717
down €14,717 (-31.4%), from €46,897 to €32,180
- Advances received -€13,310
down €13,310 (-100%), from €13,310 to €0
- Tax, wage and social debts -€12,533
down €12,533 (-73.7%), from €17,005 to €4,471
- Financial charges -€3,323
down €3,323 (-19.2%), from €17,298 to €13,975
- Depreciation +€2,216
up €2,216 (+20.2%), from €10,975 to €13,191
- Taxes -€1,777
down €1,777 (-100%), from €1,777 to €0
- Financial income -€1,388
down €1,388 (-72.2%), from €1,921 to €533
- Other operating charges +€910
up €910 (+71.1%), from €1,281 to €2,191
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 | €289,308 | €188,267 | -€101,040 | -34.9% |
| Fixed assets | 21/28 | €140,842 | €138,690 | -€2,152 | -1.5% |
| Tangible fixed assets | 22/27 | €140,842 | €138,690 | -€2,152 | -1.5% |
| Land and buildings | 22 | €123,103 | €115,603 | -€7,500 | -6.1% |
| Furniture and vehicles | 24 | €2,862 | €10,644 | +€7,782 | +272% |
| Other tangible fixed assets | 26 | €14,877 | €12,443 | -€2,434 | -16.4% |
| Current assets | 29/58 | €148,466 | €49,578 | -€98,888 | -66.6% |
| Amounts receivable within one year | 40/41 | €82,702 | €14,496 | -€68,206 | -82.5% |
| Trade receivables | 40 | €52,796 | €11,864 | -€40,932 | -77.5% |
| Other amounts receivable | 41 | €29,906 | €2,632 | -€27,274 | -91.2% |
| Cash at bank and in hand | 54/58 | €64,924 | €33,718 | -€31,206 | -48.1% |
| Deferred charges and accrued income | 490/1 | €840 | €1,363 | +€523 | +62.3% |
| Total equity and liabilities | 10/49 | €289,308 | €188,267 | -€101,040 | -34.9% |
| Equity | 10/15 | €117,917 | €119,345 | +€1,428 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €62,412 | €62,412 | = | 0.0% |
| Distributable reserves | 133 | €62,412 | €62,412 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,905 | €38,333 | +€1,428 | +3.9% |
| Provisions and deferred taxes | 16 | €22,500 | €0 | -€22,500 | -100% |
| Provisions for liabilities and charges | 160/5 | €22,500 | €0 | -€22,500 | -100% |
| Other liabilities and charges | 164/5 | €22,500 | €0 | -€22,500 | -100% |
| Amounts payable | 17/49 | €148,891 | €68,922 | -€79,969 | -53.7% |
| Amounts payable after more than one year | 17 | €46,897 | €32,180 | -€14,717 | -31.4% |
| Financial debts | 170/4 | €46,897 | €32,180 | -€14,717 | -31.4% |
| Amounts payable within one year | 42/48 | €101,929 | €36,742 | -€65,187 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €13,871 | €14,717 | +€846 | +6.1% |
| Financial debts | 43 | €2,991 | €223 | -€2,768 | -92.6% |
| Credit institutions | 430/8 | €2,991 | €223 | -€2,768 | -92.6% |
| Trade debts | 44 | €44,926 | €6,422 | -€38,504 | -85.7% |
| Suppliers | 440/4 | €44,926 | €6,422 | -€38,504 | -85.7% |
| Advances received on contracts in progress | 46 | €13,310 | €0 | -€13,310 | -100% |
| Taxes, remuneration and social security | 45 | €17,005 | €4,471 | -€12,533 | -73.7% |
| Taxes | 450/3 | €17,005 | €4,471 | -€12,533 | -73.7% |
| Other amounts payable | 47/48 | €9,826 | €10,909 | +€1,083 | +11.0% |
| Accrued charges and deferred income | 492/3 | €66 | €0 | -€66 | -100% |
| Non-recurring operating income | 76A | - | €22,500 | +€22,500 | |
| Remuneration, social security and pensions | 62 | - | €328 | +€328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,975 | €13,191 | +€2,216 | +20.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,281 | €2,191 | +€910 | +71.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €29,902 | €30,580 | +€677 | +2.3% |
| Operating profit (loss) | 9901 | €17,647 | €14,870 | -€2,777 | -15.7% |
| Financial income | 75/76B | €1,921 | €533 | -€1,388 | -72.2% |
| Recurring financial income | 75 | €1,921 | €533 | -€1,388 | -72.2% |
| Financial charges | 65/66B | €17,298 | €13,975 | -€3,323 | -19.2% |
| Recurring financial charges | 65 | €17,298 | €13,975 | -€3,323 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €2,270 | €1,428 | -€841 | -37.1% |
| Income taxes | 67/77 | €1,777 | €0 | -€1,777 | -100% |
| Profit (loss) for the period | 9904 | €493 | €1,428 | +€936 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €493 | €1,428 | +€936 | +190% |
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 14 October 2026 via checked.be.