VALKYRIE: 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.
VALKYRIE
Largest movements
- Cash +€5,851
up €5,851 (+991,676%), from €1 to €5,851
mainly Net result for the year (+€7,832) and Depreciation (+€3,070)
- Receivables within one year +€3,323
up €3,323 (+39.1%), from €8,487 to €11,810
of which Other amounts receivable: +€1,800
- Tangible fixed assets -€3,070
down €3,070 (-10.6%), from €28,856 to €25,785
of which Other tangible fixed assets: -€1,951
- Deferred charges and accrued income +€1,403
up €1,403 (+454%), from €309 to €1,711
- Profit (loss) carried forward +€7,832
up €7,832, from -€4,955 to €2,877
- Gross operating margin +€6,263
up €6,263 (+61.6%), from €10,163 to €16,426
- Taxes +€2,954
up €2,954 (+147%), from €2,007 to €4,961
- Depreciation -€661
down €661 (-17.7%), from €3,731 to €3,070
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 | €37,706 | €45,212 | +€7,506 | +19.9% |
| Fixed assets | 21/28 | €28,910 | €25,840 | -€3,070 | -10.6% |
| Tangible fixed assets | 22/27 | €28,856 | €25,785 | -€3,070 | -10.6% |
| Furniture and vehicles | 24 | €2,704 | €1,585 | -€1,119 | -41.4% |
| Other tangible fixed assets | 26 | €26,152 | €24,200 | -€1,951 | -7.5% |
| Financial fixed assets | 28 | €54 | €54 | = | 0.0% |
| Current assets | 29/58 | €8,797 | €19,373 | +€10,576 | +120% |
| Amounts receivable within one year | 40/41 | €8,487 | €11,810 | +€3,323 | +39.1% |
| Trade receivables | 40 | €8,487 | €10,010 | +€1,523 | +17.9% |
| Other amounts receivable | 41 | - | €1,800 | +€1,800 | |
| Cash at bank and in hand | 54/58 | €1 | €5,851 | +€5,851 | +991,676% |
| Deferred charges and accrued income | 490/1 | €309 | €1,711 | +€1,403 | +454% |
| Total equity and liabilities | 10/49 | €37,706 | €45,212 | +€7,506 | +19.9% |
| Equity | 10/15 | €27,573 | €35,406 | +€7,832 | +28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,928 | €13,928 | = | 0.0% |
| Distributable reserves | 133 | €13,928 | €13,928 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,955 | €2,877 | +€7,832 | |
| Amounts payable | 17/49 | €10,133 | €9,807 | -€326 | -3.2% |
| Amounts payable within one year | 42/48 | €10,133 | €9,807 | -€326 | -3.2% |
| Trade debts | 44 | €520 | €151 | -€369 | -71.0% |
| Suppliers | 440/4 | €520 | €151 | -€369 | -71.0% |
| Taxes, remuneration and social security | 45 | €7,729 | €7,466 | -€263 | -3.4% |
| Taxes | 450/3 | €5,457 | €7,418 | +€1,961 | +35.9% |
| Remuneration and social security | 454/9 | €2,271 | €48 | -€2,223 | -97.9% |
| Other amounts payable | 47/48 | €1,884 | €2,190 | +€306 | +16.2% |
| Non-recurring operating income | 76A | - | €1,800 | +€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,731 | €3,070 | -€661 | -17.7% |
| Other operating charges | 640/8 | €433 | €485 | +€51 | +11.9% |
| Gross operating margin | 9900 | €10,163 | €16,426 | +€6,263 | +61.6% |
| Operating profit (loss) | 9901 | €5,999 | €12,871 | +€6,872 | +115% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €45 | €78 | +€33 | +74.3% |
| Recurring financial charges | 65 | €45 | €78 | +€33 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €5,954 | €12,793 | +€6,839 | +115% |
| Income taxes | 67/77 | €2,007 | €4,961 | +€2,954 | +147% |
| Profit (loss) for the period | 9904 | €3,947 | €7,832 | +€3,885 | +98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,947 | €7,832 | +€3,885 | +98.4% |
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 20 October 2026 via checked.be.