VALKA PROJECTS: 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.
VALKA PROJECTS
Largest movements
- Tangible fixed assets -€7,331
down €7,331 (-68.5%), from €10,703 to €3,372
of which Furniture and vehicles: -€5,575
- Deferred charges and accrued income +€6,612
new in 2025: €6,612
- Receivables within one year -€3,423
down €3,423 (-9.3%), from €36,726 to €33,303
of which Trade receivables: -€4,950
- Other debts -€228,391
down €228,391 (-78.3%), from €291,517 to €63,126
- Debts after one year +€228,000
new in 2025: €228,000
- Current portion of long-term debt +€11,460
up €11,460 (+2,122%), from €540 to €12,000
- Profit (loss) carried forward -€11,061
down €11,061 (-6.5%), from -€170,371 to -€181,432
- Trade debts -€4,312
down €4,312 (-77.7%), from €5,551 to €1,239
- Gross operating margin -€9,507
down €9,507 (-51.0%), from €18,637 to €9,130
- Financial charges -€9,023
down €9,023 (-47.6%), from €18,972 to €9,949
- Other operating charges +€2,644
up €2,644 (+983%), from €269 to €2,913
- Financial income -€271
down €271 (-98.7%), from €275 to €4
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 | €142,480 | €136,933 | -€5,547 | -3.9% |
| Fixed assets | 21/28 | €10,703 | €3,372 | -€7,331 | -68.5% |
| Tangible fixed assets | 22/27 | €10,703 | €3,372 | -€7,331 | -68.5% |
| Plant, machinery and equipment | 23 | €3,680 | €1,924 | -€1,756 | -47.7% |
| Furniture and vehicles | 24 | €7,023 | €1,448 | -€5,575 | -79.4% |
| Current assets | 29/58 | €131,777 | €133,561 | +€1,784 | +1.4% |
| Stocks and contracts in progress | 3 | €90,090 | €90,090 | -€0 | 0.0% |
| Contracts in progress | 37 | €90,090 | €90,090 | -€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €36,726 | €33,303 | -€3,423 | -9.3% |
| Trade receivables | 40 | €25,525 | €20,575 | -€4,950 | -19.4% |
| Other amounts receivable | 41 | €11,201 | €12,728 | +€1,527 | +13.6% |
| Cash at bank and in hand | 54/58 | €4,961 | €3,556 | -€1,405 | -28.3% |
| Deferred charges and accrued income | 490/1 | - | €6,612 | +€6,612 | |
| Total equity and liabilities | 10/49 | €142,480 | €136,933 | -€5,547 | -3.9% |
| Equity | 10/15 | -€157,371 | -€168,432 | -€11,061 | -7.0% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,371 | -€181,432 | -€11,061 | -6.5% |
| Amounts payable | 17/49 | €299,851 | €305,365 | +€5,514 | +1.8% |
| Amounts payable after more than one year | 17 | - | €228,000 | +€228,000 | |
| Financial debts | 170/4 | - | €228,000 | +€228,000 | |
| Amounts payable within one year | 42/48 | €299,851 | €77,365 | -€222,486 | -74.2% |
| Current portion of amounts payable after more than one year | 42 | €540 | €12,000 | +€11,460 | +2,122% |
| Financial debts | 43 | €13 | €0 | -€13 | -100% |
| Credit institutions | 430/8 | €13 | €0 | -€13 | -100% |
| Trade debts | 44 | €5,551 | €1,239 | -€4,312 | -77.7% |
| Suppliers | 440/4 | €5,551 | €1,239 | -€4,312 | -77.7% |
| Advances received on contracts in progress | 46 | €1,919 | €1,000 | -€919 | -47.9% |
| Taxes, remuneration and social security | 45 | €311 | €0 | -€311 | -100% |
| Taxes | 450/3 | €311 | €0 | -€311 | -100% |
| Other amounts payable | 47/48 | €291,517 | €63,126 | -€228,391 | -78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,217 | €7,331 | +€114 | +1.6% |
| Other operating charges | 640/8 | €269 | €2,913 | +€2,644 | +983% |
| Gross operating margin | 9900 | €18,637 | €9,130 | -€9,507 | -51.0% |
| Operating profit (loss) | 9901 | €11,151 | -€1,114 | -€12,265 | |
| Financial income | 75/76B | €275 | €4 | -€271 | -98.7% |
| Recurring financial income | 75 | €275 | €4 | -€271 | -98.7% |
| Financial charges | 65/66B | €18,972 | €9,949 | -€9,023 | -47.6% |
| Recurring financial charges | 65 | €18,972 | €9,949 | -€9,023 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,546 | -€11,059 | -€3,513 | -46.6% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€7,546 | -€11,060 | -€3,514 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,546 | -€11,060 | -€3,514 | -46.6% |
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.