Valuency: 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.
Valuency
Largest movements
- Cash +€40,910
up €40,910 (+135.6%), from €30,165 to €71,075
mainly Net result for the year (+€50,019) and Other debts (+€24,843)
- Receivables within one year -€6,616
down €6,616 (-12.1%), from €54,732 to €48,116
of which Trade receivables: -€5,353
- Tangible fixed assets +€6,519
up €6,519 (+282.7%), from €2,306 to €8,825
of which Other tangible fixed assets: +€7,277
- Other debts +€24,843
up €24,843 (+44.2%), from €56,221 to €81,065
- Debts after one year +€18,550
new in 2025: €18,550
- Trade debts -€5,249
down €5,249 (-85.4%), from €6,149 to €900
- Tax, wage and social debts +€3,758
up €3,758 (+68.2%), from €5,511 to €9,269
of which Remuneration and social security: +€2,000
- Gross operating margin +€51,515
up €51,515 (+198.3%), from €25,977 to €77,491
- Taxes +€11,720
up €11,720 (+161.9%), from €7,237 to €18,957
- Financial charges +€1,318
up €1,318 (+34.3%), from €3,840 to €5,158
- Other operating charges -€844
down €844 (-44.6%), from €1,894 to €1,050
- Depreciation +€838
up €838 (+54.3%), from €1,542 to €2,380
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 | €88,522 | €129,647 | +€41,125 | +46.5% |
| Fixed assets | 21/28 | €2,306 | €8,825 | +€6,519 | +282.7% |
| Tangible fixed assets | 22/27 | €2,306 | €8,825 | +€6,519 | +282.7% |
| Furniture and vehicles | 24 | €820 | €62 | -€758 | -92.4% |
| Other tangible fixed assets | 26 | €1,486 | €8,763 | +€7,277 | +489.8% |
| Current assets | 29/58 | €86,216 | €120,822 | +€34,605 | +40.1% |
| Amounts receivable within one year | 40/41 | €54,732 | €48,116 | -€6,616 | -12.1% |
| Trade receivables | 40 | €51,969 | €46,616 | -€5,353 | -10.3% |
| Other amounts receivable | 41 | €2,763 | €1,500 | -€1,263 | -45.7% |
| Cash at bank and in hand | 54/58 | €30,165 | €71,075 | +€40,910 | +135.6% |
| Deferred charges and accrued income | 490/1 | €1,319 | €1,631 | +€311 | +23.6% |
| Total equity and liabilities | 10/49 | €88,522 | €129,647 | +€41,125 | +46.5% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,972 | €111,097 | +€41,125 | +58.8% |
| Amounts payable after more than one year | 17 | - | €18,550 | +€18,550 | |
| Other amounts payable | 178/9 | - | €18,550 | +€18,550 | |
| Amounts payable within one year | 42/48 | €67,882 | €91,234 | +€23,352 | +34.4% |
| Trade debts | 44 | €6,149 | €900 | -€5,249 | -85.4% |
| Suppliers | 440/4 | €6,149 | €900 | -€5,249 | -85.4% |
| Taxes, remuneration and social security | 45 | €5,511 | €9,269 | +€3,758 | +68.2% |
| Taxes | 450/3 | €5,511 | €7,269 | +€1,758 | +31.9% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €56,221 | €81,065 | +€24,843 | +44.2% |
| Accrued charges and deferred income | 492/3 | €2,091 | €1,313 | -€777 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,542 | €2,380 | +€838 | +54.3% |
| Other operating charges | 640/8 | €1,894 | €1,050 | -€844 | -44.6% |
| Gross operating margin | 9900 | €25,977 | €77,491 | +€51,515 | +198.3% |
| Operating profit (loss) | 9901 | €22,541 | €74,062 | +€51,521 | +228.6% |
| Financial income | 75/76B | €131 | €73 | -€58 | -44.6% |
| Recurring financial income | 75 | €131 | €73 | -€58 | -44.6% |
| Financial charges | 65/66B | €3,840 | €5,158 | +€1,318 | +34.3% |
| Recurring financial charges | 65 | €3,840 | €5,158 | +€1,318 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €18,832 | €68,976 | +€50,145 | +266.3% |
| Income taxes | 67/77 | €7,237 | €18,957 | +€11,720 | +161.9% |
| Profit (loss) for the period | 9904 | €11,595 | €50,019 | +€38,425 | +331.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,595 | €50,019 | +€38,425 | +331.4% |
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.