VALLEY: 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.
VALLEY
Largest movements
- Receivables within one year +€83,200
up €83,200 (+124.3%), from €66,943 to €150,143
of which Trade receivables: +€74,331
- Cash +€27,864
up €27,864 (+156.4%), from €17,818 to €45,682
mainly Net result for the year (+€80,154) and Trade debts (+€35,452)
- Tangible fixed assets +€10,756
up €10,756 (+7.3%), from €147,022 to €157,777
of which Furniture and vehicles: +€18,484
- Stocks and contracts +€4,776
up €4,776 (+10.0%), from €47,591 to €52,367
- Profit (loss) carried forward +€79,321
up €79,321 (+78.6%), from €100,902 to €180,223
- Trade debts +€35,452
up €35,452 (+405.6%), from €8,741 to €44,193
- Tax, wage and social debts +€21,944
up €21,944 (+112.8%), from €19,460 to €41,404
of which Taxes: +€21,839
- Debts after one year -€10,800
down €10,800 (-9.6%), from €112,500 to €101,700
- Gross operating margin +€70,451
up €70,451 (+56.0%), from €125,859 to €196,310
- Taxes +€13,958
up €13,958 (+163.7%), from €8,529 to €22,487
- Staff costs +€7,230
up €7,230 (+10.2%), from €70,803 to €78,033
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 | €282,241 | €407,585 | +€125,344 | +44.4% |
| Fixed assets | 21/28 | €147,022 | €157,777 | +€10,756 | +7.3% |
| Tangible fixed assets | 22/27 | €147,022 | €157,777 | +€10,756 | +7.3% |
| Land and buildings | 22 | €137,066 | €128,408 | -€8,658 | -6.3% |
| Plant, machinery and equipment | 23 | €9,956 | €10,886 | +€930 | +9.3% |
| Furniture and vehicles | 24 | - | €18,484 | +€18,484 | |
| Current assets | 29/58 | €135,219 | €249,807 | +€114,588 | +84.7% |
| Stocks and contracts in progress | 3 | €47,591 | €52,367 | +€4,776 | +10.0% |
| Stocks | 30/36 | €47,591 | €52,367 | +€4,776 | +10.0% |
| Amounts receivable within one year | 40/41 | €66,943 | €150,143 | +€83,200 | +124.3% |
| Trade receivables | 40 | €66,778 | €141,109 | +€74,331 | +111.3% |
| Other amounts receivable | 41 | €165 | €9,034 | +€8,869 | +5377.0% |
| Cash at bank and in hand | 54/58 | €17,818 | €45,682 | +€27,864 | +156.4% |
| Deferred charges and accrued income | 490/1 | €2,867 | €1,616 | -€1,251 | -43.6% |
| Total equity and liabilities | 10/49 | €282,241 | €407,585 | +€125,344 | +44.4% |
| Equity | 10/15 | €125,902 | €205,223 | +€79,321 | +63.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,902 | €180,223 | +€79,321 | +78.6% |
| Amounts payable | 17/49 | €156,339 | €202,361 | +€46,022 | +29.4% |
| Amounts payable after more than one year | 17 | €112,500 | €101,700 | -€10,800 | -9.6% |
| Financial debts | 170/4 | €112,500 | €101,700 | -€10,800 | -9.6% |
| Amounts payable within one year | 42/48 | €43,839 | €100,565 | +€56,726 | +129.4% |
| Current portion of amounts payable after more than one year | 42 | €10,800 | €10,800 | = | 0.0% |
| Trade debts | 44 | €8,741 | €44,193 | +€35,452 | +405.6% |
| Suppliers | 440/4 | €8,741 | €44,193 | +€35,452 | +405.6% |
| Taxes, remuneration and social security | 45 | €19,460 | €41,404 | +€21,944 | +112.8% |
| Taxes | 450/3 | €13,699 | €35,538 | +€21,839 | +159.4% |
| Remuneration and social security | 454/9 | €5,760 | €5,866 | +€106 | +1.8% |
| Other amounts payable | 47/48 | €4,839 | €4,168 | -€671 | -13.9% |
| Accrued charges and deferred income | 492/3 | - | €97 | +€97 | |
| Remuneration, social security and pensions | 62 | €70,803 | €78,033 | +€7,230 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,200 | €14,786 | +€1,587 | +12.0% |
| Other operating charges | 640/8 | €2,728 | €856 | -€1,872 | -68.6% |
| Gross operating margin | 9900 | €125,859 | €196,310 | +€70,451 | +56.0% |
| Operating profit (loss) | 9901 | €39,128 | €102,635 | +€63,506 | +162.3% |
| Financial income | 75/76B | €563 | €1,385 | +€821 | +145.8% |
| Recurring financial income | 75 | €563 | €1,385 | +€821 | +145.8% |
| Financial charges | 65/66B | €1,626 | €1,378 | -€248 | -15.3% |
| Recurring financial charges | 65 | €1,626 | €1,378 | -€248 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €38,065 | €102,642 | +€64,576 | +169.6% |
| Income taxes | 67/77 | €8,529 | €22,487 | +€13,958 | +163.7% |
| Profit (loss) for the period | 9904 | €29,537 | €80,154 | +€50,618 | +171.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,537 | €80,154 | +€50,618 | +171.4% |
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 8 October 2026 via checked.be.