ValueFactory: 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.
ValueFactory
Largest movements
- Cash +€86,299
up €86,299 (+303%), from €28,502 to €114,800
mainly Receivables within one year (+€42,394) and Depreciation (+€41,177)
- Receivables within one year -€42,394
down €42,394 (-63.8%), from €66,404 to €24,010
of which Trade receivables: -€44,189
- Tangible fixed assets -€36,559
down €36,559 (-18.5%), from €197,764 to €161,205
of which Furniture and vehicles: -€21,056
- Profit (loss) carried forward +€32,010
up €32,010 (+23.5%), from €136,458 to €168,468
- Debts after one year -€18,903
down €18,903 (-19.7%), from €95,964 to €77,061
- Tax, wage and social debts -€4,970
down €4,970 (-30.5%), from €16,288 to €11,317
- Gross operating margin -€54,542
down €54,542 (-38.7%), from €140,952 to €86,410
- Taxes -€20,787
down €20,787 (-73.2%), from €28,399 to €7,612
- Financial charges +€1,993
up €1,993 (+63.8%), from €3,126 to €5,120
- Depreciation -€1,656
down €1,656 (-3.9%), from €42,834 to €41,177
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 | €292,769 | €300,522 | +€7,752 | +2.6% |
| Fixed assets | 21/28 | €197,863 | €161,304 | -€36,559 | -18.5% |
| Tangible fixed assets | 22/27 | €197,764 | €161,205 | -€36,559 | -18.5% |
| Land and buildings | 22 | €1,976 | €1,747 | -€228 | -11.6% |
| Plant, machinery and equipment | 23 | €3,708 | €1,951 | -€1,757 | -47.4% |
| Furniture and vehicles | 24 | €76,715 | €55,659 | -€21,056 | -27.4% |
| Other tangible fixed assets | 26 | €115,366 | €101,848 | -€13,518 | -11.7% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €94,906 | €139,218 | +€44,312 | +46.7% |
| Amounts receivable within one year | 40/41 | €66,404 | €24,010 | -€42,394 | -63.8% |
| Trade receivables | 40 | €59,677 | €15,488 | -€44,189 | -74.0% |
| Other amounts receivable | 41 | €6,728 | €8,522 | +€1,795 | +26.7% |
| Cash at bank and in hand | 54/58 | €28,502 | €114,800 | +€86,299 | +303% |
| Deferred charges and accrued income | 490/1 | - | €407 | +€407 | |
| Total equity and liabilities | 10/49 | €292,769 | €300,522 | +€7,752 | +2.6% |
| Equity | 10/15 | €156,918 | €188,928 | +€32,010 | +20.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,458 | €168,468 | +€32,010 | +23.5% |
| Amounts payable | 17/49 | €135,851 | €111,593 | -€24,258 | -17.9% |
| Amounts payable after more than one year | 17 | €95,964 | €77,061 | -€18,903 | -19.7% |
| Financial debts | 170/4 | €95,964 | €77,061 | -€18,903 | -19.7% |
| Amounts payable within one year | 42/48 | €39,373 | €34,517 | -€4,855 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €18,394 | €18,903 | +€510 | +2.8% |
| Trade debts | 44 | €4,692 | €4,297 | -€395 | -8.4% |
| Suppliers | 440/4 | €4,692 | €4,297 | -€395 | -8.4% |
| Taxes, remuneration and social security | 45 | €16,288 | €11,317 | -€4,970 | -30.5% |
| Taxes | 450/3 | €16,288 | €11,317 | -€4,970 | -30.5% |
| Accrued charges and deferred income | 492/3 | €514 | €15 | -€499 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,834 | €41,177 | -€1,656 | -3.9% |
| Other operating charges | 640/8 | €1,014 | €658 | -€356 | -35.1% |
| Gross operating margin | 9900 | €140,952 | €86,410 | -€54,542 | -38.7% |
| Operating profit (loss) | 9901 | €97,104 | €44,575 | -€52,530 | -54.1% |
| Financial income | 75/76B | €116 | €167 | +€51 | +43.4% |
| Recurring financial income | 75 | €116 | €167 | +€51 | +43.4% |
| Financial charges | 65/66B | €3,126 | €5,120 | +€1,993 | +63.8% |
| Recurring financial charges | 65 | €3,126 | €5,120 | +€1,993 | +63.8% |
| Profit (loss) for the period before taxes | 9903 | €94,095 | €39,622 | -€54,472 | -57.9% |
| Income taxes | 67/77 | €28,399 | €7,612 | -€20,787 | -73.2% |
| Profit (loss) for the period | 9904 | €65,696 | €32,010 | -€33,686 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,696 | €32,010 | -€33,686 | -51.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.