VALNANNI: 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.
VALNANNI
Largest movements
- Receivables within one year -€24,274
down €24,274 (-94.5%), from €25,685 to €1,411
of which Trade receivables: -€24,380
- Stocks and contracts +€8,591
up €8,591 (+47.5%), from €18,090 to €26,680
- Tangible fixed assets -€2,509
down €2,509 (-24.7%), from €10,178 to €7,669
- Trade debts -€21,105
down €21,105 (-98.6%), from €21,399 to €293
- Other debts +€14,550
up €14,550 (+48.0%), from €30,307 to €44,857
- Profit (loss) carried forward -€5,964
down €5,964 (-20.2%), from -€29,536 to -€35,500
- Tax, wage and social debts -€5,774
down €5,774 (-18.0%), from €32,143 to €26,369
of which Remuneration and social security: -€3,260
- Other operating charges -€19,113
down €19,113 (-79.3%), from €24,096 to €4,984
- Staff costs -€9,564
down €9,564 (-9.6%), from €99,131 to €89,567
- Gross operating margin -€4,727
down €4,727 (-4.7%), from €100,337 to €95,610
- Depreciation +€1,623
up €1,623 (+79.7%), from €2,036 to €3,659
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 | €64,407 | €46,098 | -€18,310 | -28.4% |
| Fixed assets | 21/28 | €14,838 | €12,329 | -€2,509 | -16.9% |
| Tangible fixed assets | 22/27 | €10,178 | €7,669 | -€2,509 | -24.7% |
| Plant, machinery and equipment | 23 | €4,224 | €3,231 | -€993 | -23.5% |
| Furniture and vehicles | 24 | €2,551 | €2,081 | -€470 | -18.4% |
| Other tangible fixed assets | 26 | €3,403 | €2,357 | -€1,046 | -30.7% |
| Financial fixed assets | 28 | €4,660 | €4,660 | = | 0.0% |
| Current assets | 29/58 | €49,569 | €33,768 | -€15,801 | -31.9% |
| Stocks and contracts in progress | 3 | €18,090 | €26,680 | +€8,591 | +47.5% |
| Stocks | 30/36 | €18,090 | €26,680 | +€8,591 | +47.5% |
| Amounts receivable within one year | 40/41 | €25,685 | €1,411 | -€24,274 | -94.5% |
| Trade receivables | 40 | €25,260 | €880 | -€24,380 | -96.5% |
| Other amounts receivable | 41 | €425 | €531 | +€106 | +24.9% |
| Cash at bank and in hand | 54/58 | €5,078 | €5,496 | +€418 | +8.2% |
| Deferred charges and accrued income | 490/1 | €716 | €181 | -€535 | -74.7% |
| Total equity and liabilities | 10/49 | €64,407 | €46,098 | -€18,310 | -28.4% |
| Equity | 10/15 | -€19,458 | -€25,422 | -€5,964 | -30.6% |
| Contributions | 10/11 | €8,218 | €8,218 | = | 0.0% |
| Capital | 10 | €8,218 | - | -€8,218 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €10,383 | - | -€10,383 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€29,536 | -€35,500 | -€5,964 | -20.2% |
| Amounts payable | 17/49 | €83,865 | €71,520 | -€12,346 | -14.7% |
| Amounts payable within one year | 42/48 | €83,848 | €71,520 | -€12,329 | -14.7% |
| Trade debts | 44 | €21,399 | €293 | -€21,105 | -98.6% |
| Suppliers | 440/4 | €21,399 | €293 | -€21,105 | -98.6% |
| Taxes, remuneration and social security | 45 | €32,143 | €26,369 | -€5,774 | -18.0% |
| Taxes | 450/3 | €14,266 | €11,752 | -€2,514 | -17.6% |
| Remuneration and social security | 454/9 | €17,876 | €14,617 | -€3,260 | -18.2% |
| Other amounts payable | 47/48 | €30,307 | €44,857 | +€14,550 | +48.0% |
| Accrued charges and deferred income | 492/3 | €17 | €0 | -€17 | -100.0% |
| Remuneration, social security and pensions | 62 | €99,131 | €89,567 | -€9,564 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,036 | €3,659 | +€1,623 | +79.7% |
| Other operating charges | 640/8 | €24,096 | €4,984 | -€19,113 | -79.3% |
| Gross operating margin | 9900 | €100,337 | €95,610 | -€4,727 | -4.7% |
| Operating profit (loss) | 9901 | -€24,926 | -€2,600 | +€22,327 | +89.6% |
| Financial income | 75/76B | €80 | €498 | +€418 | +522.5% |
| Recurring financial income | 75 | €80 | €498 | +€418 | +522.5% |
| Financial charges | 65/66B | €3,600 | €3,743 | +€143 | +4.0% |
| Recurring financial charges | 65 | €3,600 | €3,743 | +€143 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€28,446 | -€5,845 | +€22,601 | +79.5% |
| Income taxes | 67/77 | €620 | €119 | -€501 | -80.8% |
| Profit (loss) for the period | 9904 | -€29,066 | -€5,964 | +€23,103 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,066 | -€5,964 | +€23,103 | +79.5% |
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 7 October 2026 via checked.be.