VALKENBORGH PATRICK: 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.
VALKENBORGH PATRICK
Largest movements
- Cash -€242,291
down €242,291 (-38.9%), from €622,812 to €380,521
mainly Receivables within one year (-€193,848) and Other debts (-€176,120)
- Receivables within one year +€193,848
up €193,848 (+342.9%), from €56,528 to €250,376
- Tangible fixed assets +€103,218
up €103,218 (+57.5%), from €179,628 to €282,846
of which Furniture and vehicles: +€114,582
- Reserves +€208,928
up €208,928 (+14.2%), from €1.5m to €1.7m
of which Distributable reserves: +€208,928
- Other debts -€176,120
down €176,120 (-100.0%), from €176,120 to €0
- Staff costs +€50,599
up €50,599 (+25.7%), from €197,141 to €247,740
- Taxes -€18,553
down €18,553 (-16.6%), from €111,657 to €93,104
- Gross operating margin -€13,820
down €13,820 (-2.5%), from €559,694 to €545,874
- Depreciation -€11,401
down €11,401 (-29.5%), from €38,639 to €27,238
- Financial income +€8,500
up €8,500 (+27.8%), from €30,562 to €39,062
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 | €2,004,107 | €2,068,488 | +€64,381 | +3.2% |
| Fixed assets | 21/28 | €179,628 | €282,846 | +€103,218 | +57.5% |
| Tangible fixed assets | 22/27 | €179,628 | €282,846 | +€103,218 | +57.5% |
| Land and buildings | 22 | €126,668 | €116,153 | -€10,515 | -8.3% |
| Plant, machinery and equipment | 23 | €912 | €63 | -€849 | -93.1% |
| Furniture and vehicles | 24 | €52,048 | €166,630 | +€114,582 | +220.1% |
| Current assets | 29/58 | €1,824,479 | €1,785,642 | -€38,837 | -2.1% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €56,528 | €250,376 | +€193,848 | +342.9% |
| Other amounts receivable | 41 | €56,528 | €250,376 | +€193,848 | +342.9% |
| Current investments | 50/53 | €590,979 | €595,972 | +€4,992 | +0.8% |
| Cash at bank and in hand | 54/58 | €622,812 | €380,521 | -€242,291 | -38.9% |
| Deferred charges and accrued income | 490/1 | €54,159 | €58,773 | +€4,614 | +8.5% |
| Total equity and liabilities | 10/49 | €2,004,107 | €2,068,488 | +€64,381 | +3.2% |
| Equity | 10/15 | €1,692,047 | €1,900,975 | +€208,928 | +12.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,472,294 | €1,681,221 | +€208,928 | +14.2% |
| Tax-exempt reserves | 132 | €533 | €533 | = | 0.0% |
| Distributable reserves | 133 | €1,471,761 | €1,680,688 | +€208,928 | +14.2% |
| Profit (loss) carried forward | 14 | €201,162 | €201,162 | = | 0.0% |
| Amounts payable | 17/49 | €312,060 | €167,513 | -€144,546 | -46.3% |
| Amounts payable after more than one year | 17 | €47,711 | €59,398 | +€11,687 | +24.5% |
| Financial debts | 170/4 | €47,711 | €59,398 | +€11,687 | +24.5% |
| Amounts payable within one year | 42/48 | €264,349 | €108,116 | -€156,233 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €30,330 | €31,765 | +€1,435 | +4.7% |
| Trade debts | 44 | €6,282 | €14,180 | +€7,898 | +125.7% |
| Suppliers | 440/4 | €6,282 | €14,180 | +€7,898 | +125.7% |
| Taxes, remuneration and social security | 45 | €51,617 | €62,171 | +€10,555 | +20.4% |
| Taxes | 450/3 | €19,393 | €10,284 | -€9,109 | -47.0% |
| Remuneration and social security | 454/9 | €32,224 | €51,887 | +€19,664 | +61.0% |
| Other amounts payable | 47/48 | €176,120 | €0 | -€176,120 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €23,211 | +€23,211 | |
| Remuneration, social security and pensions | 62 | €197,141 | €247,740 | +€50,599 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,639 | €27,238 | -€11,401 | -29.5% |
| Other operating charges | 640/8 | €4,633 | €6,198 | +€1,565 | +33.8% |
| Gross operating margin | 9900 | €559,694 | €545,874 | -€13,820 | -2.5% |
| Operating profit (loss) | 9901 | €319,281 | €264,699 | -€54,583 | -17.1% |
| Financial income | 75/76B | €30,562 | €39,062 | +€8,500 | +27.8% |
| Recurring financial income | 75 | €30,562 | €39,062 | +€8,500 | +27.8% |
| Financial charges | 65/66B | €751 | €1,729 | +€978 | +130.2% |
| Recurring financial charges | 65 | €751 | €1,729 | +€978 | +130.2% |
| Profit (loss) for the period before taxes | 9903 | €349,092 | €302,032 | -€47,061 | -13.5% |
| Income taxes | 67/77 | €111,657 | €93,104 | -€18,553 | -16.6% |
| Profit (loss) for the period | 9904 | €237,435 | €208,928 | -€28,508 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €237,435 | €208,928 | -€28,508 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.