VALUE ADDED EUROPE: 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.
VALUE ADDED EUROPE
Largest movements
- Deferred charges and accrued income -€19,974
no longer reported in 2025 (was €19,974)
- Tangible fixed assets -€15,124
down €15,124 (-3.7%), from €412,160 to €397,035
of which Plant, machinery and equipment: -€13,107
- Cash -€13,909
down €13,909 (-15.5%), from €89,881 to €75,973
mainly Other debts (-€46,206) and Receivables within one year (-€10,627)
- Receivables within one year +€10,627
up €10,627 (+2,160%), from €492 to €11,119
- Other debts -€46,206
no longer reported in 2025 (was €46,206)
- Tax, wage and social debts +€12,627
new in 2025: €12,627
- Profit (loss) carried forward -€8,261
down €8,261 (-1.2%), from -€673,083 to -€681,344
- Gross operating margin +€18,082
up €18,082 (+136%), from €13,329 to €31,412
- Other operating charges +€8,837
up €8,837 (+115%), from €7,716 to €16,553
- Financial charges +€2,573
up €2,573 (+986%), from €261 to €2,834
- Depreciation +€1,632
up €1,632 (+9.1%), from €17,925 to €19,557
- Taxes +€1,315
new in 2025: €1,315
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.
Derived cash bridge
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 | €522,506 | €484,127 | -€38,379 | -7.3% |
| Fixed assets | 21/28 | €412,160 | €397,035 | -€15,124 | -3.7% |
| Tangible fixed assets | 22/27 | €412,160 | €397,035 | -€15,124 | -3.7% |
| Land and buildings | 22 | €164,384 | €161,372 | -€3,012 | -1.8% |
| Plant, machinery and equipment | 23 | €27,170 | €14,063 | -€13,107 | -48.2% |
| Furniture and vehicles | 24 | €2,677 | €3,105 | +€429 | +16.0% |
| Other tangible fixed assets | 26 | €217,929 | €218,495 | +€566 | +0.3% |
| Current assets | 29/58 | €110,347 | €87,092 | -€23,255 | -21.1% |
| Amounts receivable within one year | 40/41 | €492 | €11,119 | +€10,627 | +2,160% |
| Other amounts receivable | 41 | €492 | €11,119 | +€10,627 | +2,160% |
| Cash at bank and in hand | 54/58 | €89,881 | €75,973 | -€13,909 | -15.5% |
| Deferred charges and accrued income | 490/1 | €19,974 | - | -€19,974 | |
| Total equity and liabilities | 10/49 | €522,506 | €484,127 | -€38,379 | -7.3% |
| Equity | 10/15 | €476,258 | €467,997 | -€8,261 | -1.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,087,367 | €1,087,367 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,424 | €39,424 | = | 0.0% |
| Legal reserve | 130 | €39,424 | €39,424 | = | 0.0% |
| Distributable reserves | 133 | €1,047,944 | €1,047,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€673,083 | -€681,344 | -€8,261 | -1.2% |
| Amounts payable | 17/49 | €46,249 | €16,130 | -€30,119 | -65.1% |
| Amounts payable within one year | 42/48 | €46,249 | €16,130 | -€30,119 | -65.1% |
| Trade debts | 44 | €43 | €3,503 | +€3,460 | +8,142% |
| Suppliers | 440/4 | €43 | €3,503 | +€3,460 | +8,142% |
| Taxes, remuneration and social security | 45 | - | €12,627 | +€12,627 | |
| Taxes | 450/3 | - | €12,627 | +€12,627 | |
| Other amounts payable | 47/48 | €46,206 | - | -€46,206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,925 | €19,557 | +€1,632 | +9.1% |
| Other operating charges | 640/8 | €7,716 | €16,553 | +€8,837 | +115% |
| Gross operating margin | 9900 | €13,329 | €31,412 | +€18,082 | +136% |
| Operating profit (loss) | 9901 | -€12,312 | -€4,698 | +€7,614 | +61.8% |
| Financial income | 75/76B | €10 | €587 | +€577 | +5,767% |
| Recurring financial income | 75 | €10 | €587 | +€577 | +5,767% |
| Financial charges | 65/66B | €261 | €2,834 | +€2,573 | +986% |
| Recurring financial charges | 65 | €261 | €2,834 | +€2,573 | +986% |
| Profit (loss) for the period before taxes | 9903 | -€12,563 | -€6,946 | +€5,617 | +44.7% |
| Income taxes | 67/77 | - | €1,315 | +€1,315 | |
| Profit (loss) for the period | 9904 | -€12,563 | -€8,261 | +€4,302 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,563 | -€8,261 | +€4,302 | +34.2% |
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 25 October 2026 via checked.be.