VALIPAT: 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.
What changed
VALIPAT
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€7.5m
2024 · €11.7m-€4.2m
Equity
€9.9m
2024 · €14.1m-€4.2m
Cash
€4.2m
2024 · €6.2m-€2.0m
Balance sheet total
€25.9m
2024 · €32.0m-€6.0m
Largest movements
Assets
- Receivables within one year -€3.1m
down €3.1m (-14.1%), from €21.6m to €18.6m
of which Other amounts receivable: -€5.2m
- Cash -€2.0m
down €2.0m (-32.4%), from €6.2m to €4.2m
mainly Contributions, distributions and other (-€11.7m) and Trade debts (-€937,314)
- Intangible fixed assets -€960,332
down €960,332 (-27.1%), from €3.5m to €2.6m
Equity and liabilities
- Profit (loss) carried forward -€4.2m
down €4.2m (-35.8%), from €11.7m to €7.5m
- Trade debts -€937,314
down €937,314 (-19.7%), from €4.7m to €3.8m
- Accrued charges and deferred income -€743,714
down €743,714 (-5.8%), from €12.9m to €12.1m
Income statement
- Turnover -€3.4m
down €3.4m (-9.7%), from €34.7m to €31.3m
- Services and other goods +€1.3m
up €1.3m (+31.9%), from €4.0m to €5.2m
- Financial charges +€727,931
up €727,931 (+544%), from €133,691 to €861,622
- Goods and materials -€689,805
down €689,805 (-4.3%), from €16.1m to €15.4m
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.
Result 2024
€11.7m
Turnover
-€3.4m
Other operating income
+€131,935
Goods and materials
+€689,805
Services and other goods
-€1.3m
Staff costs
+€207,028
Depreciation
-€229,734
Write-downs
+€216,571
Other operating charges
+€17,457
Other operating items
-€85,233
Financial income
-€9,032
Financial charges
-€727,931
Taxes
+€211,519
Result 2025
€7.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.9m
Investment
-€208,516
Financing
-€11.7m
Cash 2024
€6.2m
From operations (derived)
+€9.9m
Net result for the year
+€7.5m
Depreciation
+€1.2m
Receivables within one year
+€3.1m
Deferred charges and accrued income
+€11,612
Trade debts
-€937,314
Tax, wage and social debts
-€148,995
Accrued charges and deferred income
-€743,714
Investment (derived)
-€208,516
Investment in fixed assets (net)
-€208,516
Financing
-€11.7m
Contributions, distributions and other
-€11.7m
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,953,849 | €25,925,910 | -€6.0m | -18.9% |
| Fixed assets | 21/28 | €3,552,332 | €2,597,190 | -€955,141 | -26.9% |
| Intangible fixed assets | 21 | €3,544,182 | €2,583,849 | -€960,332 | -27.1% |
| Tangible fixed assets | 22/27 | - | €4,375 | +€4,375 | |
| Furniture and vehicles | 24 | - | €4,375 | +€4,375 | |
| Financial fixed assets | 28 | €8,150 | €8,966 | +€816 | +10.0% |
| Other financial fixed assets | 284/8 | €8,150 | €8,966 | +€816 | +10.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,150 | €8,966 | +€816 | +10.0% |
| Current assets | 29/58 | €28,401,517 | €23,328,720 | -€5.1m | -17.9% |
| Amounts receivable within one year | 40/41 | €21,626,439 | €18,569,649 | -€3.1m | -14.1% |
| Trade receivables | 40 | €5,583,922 | €7,745,421 | +€2.2m | +38.7% |
| Other amounts receivable | 41 | €16,042,516 | €10,824,228 | -€5.2m | -32.5% |
| Current investments | 50/53 | €248,994 | €248,994 | = | 0.0% |
| Own shares | 50 | €248,994 | €248,994 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,188,660 | €4,184,265 | -€2.0m | -32.4% |
| Deferred charges and accrued income | 490/1 | €337,425 | €325,812 | -€11,612 | -3.4% |
| Total equity and liabilities | 10/49 | €31,953,849 | €25,925,910 | -€6.0m | -18.9% |
| Equity | 10/15 | €14,110,108 | €9,912,193 | -€4.2m | -29.8% |
| Contributions | 10/11 | €2,074,460 | €2,074,460 | = | 0.0% |
| Reserves | 13 | €308,983 | €308,983 | = | 0.0% |
| Non-distributable reserves | 130/1 | €308,983 | €308,983 | = | 0.0% |
| Own shares acquired | 1312 | €308,983 | €308,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,726,665 | €7,528,750 | -€4.2m | -35.8% |
| Amounts payable | 17/49 | €17,843,741 | €16,013,718 | -€1.8m | -10.3% |
| Amounts payable within one year | 42/48 | €4,987,025 | €3,900,715 | -€1.1m | -21.8% |
| Trade debts | 44 | €4,748,350 | €3,811,036 | -€937,314 | -19.7% |
| Suppliers | 440/4 | €4,748,350 | €3,811,036 | -€937,314 | -19.7% |
| Taxes, remuneration and social security | 45 | €238,675 | €89,679 | -€148,995 | -62.4% |
| Taxes | 450/3 | €9,320 | - | -€9,320 | |
| Remuneration and social security | 454/9 | €229,355 | €89,679 | -€139,676 | -60.9% |
| Accrued charges and deferred income | 492/3 | €12,856,716 | €12,113,002 | -€743,714 | -5.8% |
| Operating income | 70/76A | €34,892,773 | €31,577,987 | -€3.3m | -9.5% |
| Turnover | 70 | €34,702,767 | €31,349,463 | -€3.4m | -9.7% |
| Other operating income | 74 | €96,589 | €228,524 | +€131,935 | +137% |
| Non-recurring operating income | 76A | €93,417 | - | -€93,417 | |
| Operating charges | 60/66A | €21,908,187 | €22,265,873 | +€357,686 | +1.6% |
| Goods for resale, raw materials and consumables | 60 | €16,066,956 | €15,377,151 | -€689,805 | -4.3% |
| Purchases | 600/8 | €16,066,956 | €15,377,151 | -€689,805 | -4.3% |
| Services and other goods | 61 | €3,975,678 | €5,242,676 | +€1.3m | +31.9% |
| Remuneration, social security and pensions | 62 | €858,287 | €651,259 | -€207,028 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933,924 | €1,163,658 | +€229,734 | +24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €47,581 | -€168,990 | -€216,571 | |
| Other operating charges | 640/8 | €17,577 | €120 | -€17,457 | -99.3% |
| Non-recurring operating charges | 66A | €8,184 | - | -€8,184 | |
| Operating profit (loss) | 9901 | €12,984,586 | €9,312,113 | -€3.7m | -28.3% |
| Financial income | 75/76B | €875,826 | €866,794 | -€9,032 | -1.0% |
| Recurring financial income | 75 | €875,826 | €866,794 | -€9,032 | -1.0% |
| Income from financial fixed assets | 750 | - | €512,741 | +€512,741 | |
| Income from current assets | 751 | €399,104 | €248,304 | -€150,800 | -37.8% |
| Other financial income | 752/9 | €476,722 | €105,749 | -€370,973 | -77.8% |
| Financial charges | 65/66B | €133,691 | €861,622 | +€727,931 | +544% |
| Recurring financial charges | 65 | €133,691 | €861,622 | +€727,931 | +544% |
| Debt charges | 650 | €199 | €2 | -€197 | -99.0% |
| Other financial charges | 652/9 | €133,493 | €861,620 | +€728,127 | +545% |
| Profit (loss) for the period before taxes | 9903 | €13,726,720 | €9,317,285 | -€4.4m | -32.1% |
| Income taxes | 67/77 | €2,000,055 | €1,788,536 | -€211,519 | -10.6% |
| Taxes | 670/3 | €2,773,998 | €1,788,536 | -€985,463 | -35.5% |
| Tax adjustments and reversals of tax provisions | 77 | €773,943 | - | -€773,943 | |
| Profit (loss) for the period | 9904 | €11,726,665 | €7,528,750 | -€4.2m | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,726,665 | €7,528,750 | -€4.2m | -35.8% |
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 21 October 2026 via checked.be.