VALIZE: 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.
VALIZE
Largest movements
- Current investments -€91,366
down €91,366 (-48.4%), from €188,900 to €97,534
- Receivables within one year +€39,062
up €39,062 (+88.2%), from €44,276 to €83,338
of which Trade receivables: +€37,664
- Cash -€21,048
down €21,048 (-48.3%), from €43,616 to €22,568
mainly Contributions, distributions and other (-€104,061) and Other debts (-€51,834)
- Tangible fixed assets +€6,384
up €6,384 (+24.7%), from €25,825 to €32,209
of which Furniture and vehicles: +€5,951
- Deferred charges and accrued income +€3,298
up €3,298 (+57.3%), from €5,752 to €9,050
- Reserves -€104,061
down €104,061 (-44.7%), from €232,948 to €128,887
- Profit (loss) carried forward +€92,738
new in 2025: €92,738
- Other debts -€51,834
down €51,834 (-93.1%), from €55,678 to €3,844
- Financial income -€16,728
down €16,728 (-81.2%), from €20,611 to €3,884
- Gross operating margin +€6,970
up €6,970 (+6.0%), from €116,477 to €123,446
- Taxes +€2,216
up €2,216 (+9.6%), from €23,178 to €25,394
- Financial charges -€1,265
down €1,265 (-50.4%), from €2,509 to €1,245
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 | €308,368 | €244,698 | -€63,670 | -20.6% |
| Fixed assets | 21/28 | €25,825 | €32,209 | +€6,384 | +24.7% |
| Tangible fixed assets | 22/27 | €25,825 | €32,209 | +€6,384 | +24.7% |
| Plant, machinery and equipment | 23 | €2,957 | €6,135 | +€3,178 | +107.5% |
| Furniture and vehicles | 24 | €2,905 | €8,856 | +€5,951 | +204.9% |
| Other tangible fixed assets | 26 | €19,964 | €17,219 | -€2,745 | -13.8% |
| Current assets | 29/58 | €282,543 | €212,489 | -€70,054 | -24.8% |
| Amounts receivable within one year | 40/41 | €44,276 | €83,338 | +€39,062 | +88.2% |
| Trade receivables | 40 | €44,035 | €81,700 | +€37,664 | +85.5% |
| Other amounts receivable | 41 | €240 | €1,638 | +€1,398 | +581.4% |
| Current investments | 50/53 | €188,900 | €97,534 | -€91,366 | -48.4% |
| Cash at bank and in hand | 54/58 | €43,616 | €22,568 | -€21,048 | -48.3% |
| Deferred charges and accrued income | 490/1 | €5,752 | €9,050 | +€3,298 | +57.3% |
| Total equity and liabilities | 10/49 | €308,368 | €244,698 | -€63,670 | -20.6% |
| Equity | 10/15 | €236,548 | €225,225 | -€11,323 | -4.8% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €232,948 | €128,887 | -€104,061 | -44.7% |
| Distributable reserves | 133 | €232,948 | €128,887 | -€104,061 | -44.7% |
| Profit (loss) carried forward | 14 | - | €92,738 | +€92,738 | |
| Amounts payable | 17/49 | €71,820 | €19,473 | -€52,347 | -72.9% |
| Amounts payable within one year | 42/48 | €69,541 | €18,924 | -€50,617 | -72.8% |
| Trade debts | 44 | €1,978 | €4,431 | +€2,453 | +124.0% |
| Suppliers | 440/4 | €1,978 | €4,431 | +€2,453 | +124.0% |
| Taxes, remuneration and social security | 45 | €11,885 | €10,649 | -€1,237 | -10.4% |
| Taxes | 450/3 | €9,399 | €8,091 | -€1,309 | -13.9% |
| Remuneration and social security | 454/9 | €2,486 | €2,558 | +€72 | +2.9% |
| Other amounts payable | 47/48 | €55,678 | €3,844 | -€51,834 | -93.1% |
| Accrued charges and deferred income | 492/3 | €2,279 | €549 | -€1,730 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,666 | €7,262 | +€596 | +8.9% |
| Other operating charges | 640/8 | €674 | €691 | +€17 | +2.6% |
| Gross operating margin | 9900 | €116,477 | €123,446 | +€6,970 | +6.0% |
| Operating profit (loss) | 9901 | €109,136 | €115,493 | +€6,356 | +5.8% |
| Financial income | 75/76B | €20,611 | €3,884 | -€16,728 | -81.2% |
| Recurring financial income | 75 | €20,611 | €3,884 | -€16,728 | -81.2% |
| Financial charges | 65/66B | €2,509 | €1,245 | -€1,265 | -50.4% |
| Recurring financial charges | 65 | €2,509 | €1,245 | -€1,265 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €127,238 | €118,132 | -€9,107 | -7.2% |
| Income taxes | 67/77 | €23,178 | €25,394 | +€2,216 | +9.6% |
| Profit (loss) for the period | 9904 | €104,061 | €92,738 | -€11,323 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €104,061 | €92,738 | -€11,323 | -10.9% |
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 9 October 2026 via checked.be.