ValManS: 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.
ValManS
Largest movements
- Cash +€30,955
up €30,955 (+85.0%), from €36,403 to €67,358
mainly Net result for the year (+€22,247) and Tax, wage and social debts (+€10,902)
- Tangible fixed assets +€2,839
up €2,839 (+113.7%), from €2,496 to €5,335
of which Other tangible fixed assets: +€3,439
- Receivables within one year +€1,011
up €1,011 (+9.5%), from €10,656 to €11,667
of which Trade receivables: +€1,011
- Profit (loss) carried forward +€22,247
up €22,247 (+511.6%), from €4,349 to €26,596
- Tax, wage and social debts +€10,902
up €10,902 (+85.3%), from €12,784 to €23,686
- Other debts +€2,948
up €2,948 (+12.6%), from €23,407 to €26,355
- Accrued charges and deferred income -€2,472
down €2,472 (-85.8%), from €2,880 to €408
- Gross operating margin +€23,214
up €23,214 (+342.0%), from €6,787 to €30,001
- Taxes +€4,500
up €4,500 (+310.3%), from €1,450 to €5,950
- Depreciation +€508
up €508 (+101.1%), from €503 to €1,011
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 | €50,047 | €84,360 | +€34,313 | +68.6% |
| Fixed assets | 21/28 | €2,496 | €5,335 | +€2,839 | +113.7% |
| Tangible fixed assets | 22/27 | €2,496 | €5,335 | +€2,839 | +113.7% |
| Plant, machinery and equipment | 23 | €2,496 | €1,897 | -€600 | -24.0% |
| Other tangible fixed assets | 26 | - | €3,439 | +€3,439 | |
| Current assets | 29/58 | €47,551 | €79,025 | +€31,474 | +66.2% |
| Amounts receivable within one year | 40/41 | €10,656 | €11,667 | +€1,011 | +9.5% |
| Trade receivables | 40 | €10,106 | €11,117 | +€1,011 | +10.0% |
| Other amounts receivable | 41 | €550 | €550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,403 | €67,358 | +€30,955 | +85.0% |
| Deferred charges and accrued income | 490/1 | €492 | - | -€492 | |
| Total equity and liabilities | 10/49 | €50,047 | €84,360 | +€34,313 | +68.6% |
| Equity | 10/15 | €9,349 | €31,596 | +€22,247 | +238.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,349 | €26,596 | +€22,247 | +511.6% |
| Amounts payable | 17/49 | €40,698 | €52,764 | +€12,066 | +29.6% |
| Amounts payable within one year | 42/48 | €37,818 | €52,356 | +€14,538 | +38.4% |
| Trade debts | 44 | €1,627 | €2,315 | +€689 | +42.3% |
| Suppliers | 440/4 | €1,627 | €2,315 | +€689 | +42.3% |
| Taxes, remuneration and social security | 45 | €12,784 | €23,686 | +€10,902 | +85.3% |
| Taxes | 450/3 | €12,784 | €23,686 | +€10,902 | +85.3% |
| Other amounts payable | 47/48 | €23,407 | €26,355 | +€2,948 | +12.6% |
| Accrued charges and deferred income | 492/3 | €2,880 | €408 | -€2,472 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €503 | €1,011 | +€508 | +101.1% |
| Other operating charges | 640/8 | €445 | €696 | +€250 | +56.2% |
| Gross operating margin | 9900 | €6,787 | €30,001 | +€23,214 | +342.0% |
| Operating profit (loss) | 9901 | €5,839 | €28,294 | +€22,455 | +384.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €40 | €97 | +€56 | +140.2% |
| Recurring financial charges | 65 | €40 | €97 | +€56 | +140.2% |
| Profit (loss) for the period before taxes | 9903 | €5,799 | €28,197 | +€22,398 | +386.2% |
| Income taxes | 67/77 | €1,450 | €5,950 | +€4,500 | +310.3% |
| Profit (loss) for the period | 9904 | €4,349 | €22,247 | +€17,898 | +411.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,349 | €22,247 | +€17,898 | +411.6% |
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 3 October 2026 via checked.be.