Valtari: 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.
Valtari
Largest movements
- Receivables within one year +€13,221
up €13,221 (+314.9%), from €4,198 to €17,419
of which Other amounts receivable: +€13,010
- Cash -€6,976
down €6,976 (-22.9%), from €30,450 to €23,475
mainly Receivables within one year (-€13,221) and Tax, wage and social debts (-€3,381)
- Deferred charges and accrued income +€1,486
new in 2025: €1,486
- Reserves +€11,772
up €11,772 (+49.7%), from €23,697 to €35,468
- Tax, wage and social debts -€3,381
down €3,381 (-50.1%), from €6,749 to €3,368
- Trade debts -€759
down €759 (-43.9%), from €1,731 to €972
- Gross operating margin -€12,653
down €12,653 (-44.2%), from €28,611 to €15,958
- Taxes -€2,496
down €2,496 (-42.6%), from €5,864 to €3,368
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 | €35,422 | €42,808 | +€7,386 | +20.9% |
| Fixed assets | 21/28 | €774 | €428 | -€346 | -44.7% |
| Tangible fixed assets | 22/27 | €774 | €428 | -€346 | -44.7% |
| Plant, machinery and equipment | 23 | €774 | €428 | -€346 | -44.7% |
| Current assets | 29/58 | €34,648 | €42,380 | +€7,732 | +22.3% |
| Amounts receivable within one year | 40/41 | €4,198 | €17,419 | +€13,221 | +314.9% |
| Trade receivables | 40 | €210 | €421 | +€211 | +100.4% |
| Other amounts receivable | 41 | €3,988 | €16,998 | +€13,010 | +326.2% |
| Cash at bank and in hand | 54/58 | €30,450 | €23,475 | -€6,976 | -22.9% |
| Deferred charges and accrued income | 490/1 | - | €1,486 | +€1,486 | |
| Total equity and liabilities | 10/49 | €35,422 | €42,808 | +€7,386 | +20.9% |
| Equity | 10/15 | €26,697 | €38,468 | +€11,772 | +44.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €23,697 | €35,468 | +€11,772 | +49.7% |
| Distributable reserves | 133 | €23,697 | €35,468 | +€11,772 | +49.7% |
| Amounts payable | 17/49 | €8,726 | €4,340 | -€4,386 | -50.3% |
| Amounts payable within one year | 42/48 | €8,726 | €4,340 | -€4,386 | -50.3% |
| Trade debts | 44 | €1,731 | €972 | -€759 | -43.9% |
| Suppliers | 440/4 | €1,731 | €972 | -€759 | -43.9% |
| Taxes, remuneration and social security | 45 | €6,749 | €3,368 | -€3,381 | -50.1% |
| Taxes | 450/3 | €6,749 | €3,368 | -€3,381 | -50.1% |
| Other amounts payable | 47/48 | €245 | - | -€245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264 | €346 | +€82 | +31.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €28,611 | €15,958 | -€12,653 | -44.2% |
| Operating profit (loss) | 9901 | €27,959 | €15,212 | -€12,748 | -45.6% |
| Financial charges | 65/66B | €61 | €72 | +€11 | +18.3% |
| Recurring financial charges | 65 | €61 | €72 | +€11 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €27,898 | €15,140 | -€12,759 | -45.7% |
| Income taxes | 67/77 | €5,864 | €3,368 | -€2,496 | -42.6% |
| Profit (loss) for the period | 9904 | €22,035 | €11,772 | -€10,263 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,035 | €11,772 | -€10,263 | -46.6% |
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 10 October 2026 via checked.be.