Valnuc: 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.
Valnuc
Largest movements
- Cash +€145,282
up €145,282 (+220.6%), from €65,843 to €211,125
mainly Net result for the year (+€132,989) and Tax, wage and social debts (+€18,000)
- Deferred charges and accrued income +€11,865
up €11,865 (+19.8%), from €59,876 to €71,741
- Receivables within one year -€3,900
down €3,900 (-19.8%), from €19,736 to €15,836
of which Trade receivables: -€19,736
- Reserves +€132,989
up €132,989 (+93.7%), from €141,974 to €274,963
of which Distributable reserves: +€132,989
- Tax, wage and social debts +€18,000
new in 2025: €18,000
- Gross operating margin +€140,112
up €140,112 (+415.7%), from €33,704 to €173,816
- Taxes +€14,661
up €14,661 (+62.8%), from €23,339 to €38,000
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 | €147,494 | €299,444 | +€151,951 | +103.0% |
| Fixed assets | 21/28 | €2,038 | €741 | -€1,297 | -63.6% |
| Tangible fixed assets | 22/27 | €2,013 | €716 | -€1,297 | -64.4% |
| Plant, machinery and equipment | 23 | €683 | - | -€683 | |
| Furniture and vehicles | 24 | €1,330 | €716 | -€614 | -46.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €145,456 | €298,703 | +€153,248 | +105.4% |
| Amounts receivable within one year | 40/41 | €19,736 | €15,836 | -€3,900 | -19.8% |
| Trade receivables | 40 | €19,736 | - | -€19,736 | |
| Other amounts receivable | 41 | - | €15,836 | +€15,836 | |
| Cash at bank and in hand | 54/58 | €65,843 | €211,125 | +€145,282 | +220.6% |
| Deferred charges and accrued income | 490/1 | €59,876 | €71,741 | +€11,865 | +19.8% |
| Total equity and liabilities | 10/49 | €147,494 | €299,444 | +€151,951 | +103.0% |
| Equity | 10/15 | €141,974 | €274,963 | +€132,989 | +93.7% |
| Reserves | 13 | €141,974 | €274,963 | +€132,989 | +93.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €140,114 | €273,103 | +€132,989 | +94.9% |
| Amounts payable | 17/49 | €5,520 | €24,481 | +€18,962 | +343.5% |
| Amounts payable within one year | 42/48 | €5,520 | €24,481 | +€18,962 | +343.5% |
| Trade debts | 44 | €5,520 | €6,481 | +€962 | +17.4% |
| Suppliers | 440/4 | €5,520 | €6,481 | +€962 | +17.4% |
| Taxes, remuneration and social security | 45 | - | €18,000 | +€18,000 | |
| Taxes | 450/3 | - | €18,000 | +€18,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,288 | €1,297 | +€9 | +0.7% |
| Other operating charges | 640/8 | €1,242 | €1,718 | +€477 | +38.4% |
| Gross operating margin | 9900 | €33,704 | €173,816 | +€140,112 | +415.7% |
| Operating profit (loss) | 9901 | €31,174 | €170,801 | +€139,627 | +447.9% |
| Financial income | 75/76B | - | €429 | +€429 | |
| Recurring financial income | 75 | - | €429 | +€429 | |
| Financial charges | 65/66B | €232 | €241 | +€9 | +4.0% |
| Recurring financial charges | 65 | €232 | €241 | +€9 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €30,942 | €170,989 | +€140,047 | +452.6% |
| Income taxes | 67/77 | €23,339 | €38,000 | +€14,661 | +62.8% |
| Profit (loss) for the period | 9904 | €7,603 | €132,989 | +€125,386 | +1649.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,603 | €132,989 | +€125,386 | +1649.1% |
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 30 September 2026 via checked.be.