VALK 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.
VALK MANAGEMENT
Largest movements
- Current investments +€164,733
up €164,733 (+34.6%), from €475,472 to €640,205
- Cash -€7,646
down €7,646 (-68.2%), from €11,216 to €3,570
mainly Current investments (-€164,733) and Other debts (-€4,757)
- Reserves +€147,475
up €147,475 (+31.9%), from €462,714 to €610,189
of which Distributable reserves: +€115,900
- Trade debts +€7,257
up €7,257 (+476%), from €1,526 to €8,783
- Financial income +€12,748
up €12,748 (+319%), from €3,997 to €16,745
- Taxes +€10,665
up €10,665 (+29.0%), from €36,799 to €47,464
- Gross operating margin +€7,396
up €7,396 (+4.0%), from €182,670 to €190,066
- Staff costs -€3,850
down €3,850 (-29.6%), from €13,006 to €9,156
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 | €514,188 | €667,380 | +€153,191 | +29.8% |
| Fixed assets | 21/28 | €2,751 | €1,938 | -€812 | -29.5% |
| Tangible fixed assets | 22/27 | €2,751 | €1,938 | -€812 | -29.5% |
| Furniture and vehicles | 24 | €2,751 | €1,938 | -€812 | -29.5% |
| Current assets | 29/58 | €511,438 | €665,441 | +€154,004 | +30.1% |
| Amounts receivable within one year | 40/41 | €14,977 | €14,810 | -€167 | -1.1% |
| Trade receivables | 40 | €14,977 | €14,810 | -€167 | -1.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €475,472 | €640,205 | +€164,733 | +34.6% |
| Cash at bank and in hand | 54/58 | €11,216 | €3,570 | -€7,646 | -68.2% |
| Deferred charges and accrued income | 490/1 | €9,773 | €6,856 | -€2,917 | -29.8% |
| Total equity and liabilities | 10/49 | €514,188 | €667,380 | +€153,191 | +29.8% |
| Equity | 10/15 | €467,714 | €615,189 | +€147,475 | +31.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €462,714 | €610,189 | +€147,475 | +31.9% |
| Tax-exempt reserves | 132 | €21,050 | €52,625 | +€31,575 | +150% |
| Distributable reserves | 133 | €441,664 | €557,564 | +€115,900 | +26.2% |
| Amounts payable | 17/49 | €46,474 | €52,191 | +€5,716 | +12.3% |
| Amounts payable within one year | 42/48 | €44,974 | €50,691 | +€5,716 | +12.7% |
| Trade debts | 44 | €1,526 | €8,783 | +€7,257 | +476% |
| Suppliers | 440/4 | €1,526 | €8,783 | +€7,257 | +476% |
| Taxes, remuneration and social security | 45 | €38,692 | €41,908 | +€3,216 | +8.3% |
| Taxes | 450/3 | €37,000 | €41,768 | +€4,768 | +12.9% |
| Remuneration and social security | 454/9 | €1,692 | €140 | -€1,551 | -91.7% |
| Other amounts payable | 47/48 | €4,757 | €0 | -€4,757 | -100% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €13,006 | €9,156 | -€3,850 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €812 | €812 | = | 0.0% |
| Other operating charges | 640/8 | €862 | €560 | -€301 | -35.0% |
| Gross operating margin | 9900 | €182,670 | €190,066 | +€7,396 | +4.0% |
| Operating profit (loss) | 9901 | €167,990 | €179,538 | +€11,548 | +6.9% |
| Financial income | 75/76B | €3,997 | €16,745 | +€12,748 | +319% |
| Recurring financial income | 75 | €3,997 | €16,745 | +€12,748 | +319% |
| Financial charges | 65/66B | €643 | €1,344 | +€701 | +109% |
| Recurring financial charges | 65 | €643 | €1,344 | +€701 | +109% |
| Profit (loss) for the period before taxes | 9903 | €171,344 | €194,939 | +€23,595 | +13.8% |
| Income taxes | 67/77 | €36,799 | €47,464 | +€10,665 | +29.0% |
| Profit (loss) for the period | 9904 | €134,545 | €147,475 | +€12,930 | +9.6% |
| Transfer to tax-exempt reserves | 689 | €21,050 | €31,575 | +€10,525 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €113,495 | €115,900 | +€2,405 | +2.1% |
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 29 October 2026 via checked.be.