VALIERY: 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.
VALIERY
Largest movements
- Cash +€54,746
up €54,746 (+231%), from €23,654 to €78,400
mainly Net result for the year (+€18,248) and Accrued charges and deferred income (+€14,152)
- Receivables within one year -€9,231
down €9,231 (-41.7%), from €22,150 to €12,919
of which Other amounts receivable: -€5,939
- Tangible fixed assets -€3,129
down €3,129 (-42.5%), from €7,354 to €4,225
of which Furniture and vehicles: -€2,786
- Reserves +€18,000
new in 2025: €18,000
- Accrued charges and deferred income +€14,152
up €14,152 (+647%), from €2,186 to €16,338
- Other debts -€9,699
down €9,699 (-82.1%), from €11,810 to €2,111
- Trade debts +€7,640
up €7,640 (+44.7%), from €17,110 to €24,750
- Advances received +€4,983
new in 2025: €4,983
- Staff costs -€34,638
down €34,638 (-44.1%), from €78,492 to €43,854
- Gross operating margin -€10,519
down €10,519 (-12.3%), from €85,575 to €75,056
- Taxes +€6,179
up €6,179 (+502%), from €1,231 to €7,410
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 | €56,825 | €98,651 | +€41,825 | +73.6% |
| Fixed assets | 21/28 | €7,354 | €4,225 | -€3,129 | -42.5% |
| Tangible fixed assets | 22/27 | €7,354 | €4,225 | -€3,129 | -42.5% |
| Plant, machinery and equipment | 23 | €1,521 | €1,178 | -€343 | -22.5% |
| Furniture and vehicles | 24 | €5,833 | €3,047 | -€2,786 | -47.8% |
| Current assets | 29/58 | €49,471 | €94,425 | +€44,954 | +90.9% |
| Amounts receivable within one year | 40/41 | €22,150 | €12,919 | -€9,231 | -41.7% |
| Trade receivables | 40 | €15,443 | €12,150 | -€3,292 | -21.3% |
| Other amounts receivable | 41 | €6,708 | €769 | -€5,939 | -88.5% |
| Cash at bank and in hand | 54/58 | €23,654 | €78,400 | +€54,746 | +231% |
| Deferred charges and accrued income | 490/1 | €3,667 | €3,106 | -€561 | -15.3% |
| Total equity and liabilities | 10/49 | €56,825 | €98,651 | +€41,825 | +73.6% |
| Equity | 10/15 | €5,424 | €23,673 | +€18,248 | +336% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €18,000 | +€18,000 | |
| Distributable reserves | 133 | - | €18,000 | +€18,000 | |
| Profit (loss) carried forward | 14 | €424 | €673 | +€248 | +58.5% |
| Amounts payable | 17/49 | €51,401 | €74,978 | +€23,577 | +45.9% |
| Amounts payable after more than one year | 17 | - | €3,909 | +€3,909 | |
| Financial debts | 170/4 | - | €3,909 | +€3,909 | |
| Amounts payable within one year | 42/48 | €49,214 | €54,731 | +€5,516 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | - | €1,933 | +€1,933 | |
| Financial debts | 43 | €2,045 | - | -€2,045 | |
| Credit institutions | 430/8 | €2,045 | - | -€2,045 | |
| Trade debts | 44 | €17,110 | €24,750 | +€7,640 | +44.7% |
| Suppliers | 440/4 | €17,110 | €24,750 | +€7,640 | +44.7% |
| Advances received on contracts in progress | 46 | - | €4,983 | +€4,983 | |
| Taxes, remuneration and social security | 45 | €18,250 | €20,954 | +€2,704 | +14.8% |
| Taxes | 450/3 | €3,096 | €10,886 | +€7,790 | +252% |
| Remuneration and social security | 454/9 | €15,153 | €10,068 | -€5,085 | -33.6% |
| Other amounts payable | 47/48 | €11,810 | €2,111 | -€9,699 | -82.1% |
| Accrued charges and deferred income | 492/3 | €2,186 | €16,338 | +€14,152 | +647% |
| Remuneration, social security and pensions | 62 | €78,492 | €43,854 | -€34,638 | -44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,710 | €3,129 | +€419 | +15.4% |
| Other operating charges | 640/8 | €1,587 | €925 | -€662 | -41.7% |
| Gross operating margin | 9900 | €85,575 | €75,056 | -€10,519 | -12.3% |
| Operating profit (loss) | 9901 | €2,786 | €27,149 | +€24,363 | +874% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €1,294 | €1,526 | +€232 | +17.9% |
| Recurring financial charges | 65 | €1,294 | €1,526 | +€232 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €1,492 | €25,659 | +€24,166 | +1,619% |
| Income taxes | 67/77 | €1,231 | €7,410 | +€6,179 | +502% |
| Profit (loss) for the period | 9904 | €261 | €18,248 | +€17,987 | +6,885% |
| Profit (loss) for the period to be appropriated | 9905 | €261 | €18,248 | +€17,987 | +6,885% |
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 15 October 2026 via checked.be.