VALUEVISION: 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.
VALUEVISION
Largest movements
- Tangible fixed assets +€182,677
up €182,677 (+585%), from €31,253 to €213,930
of which Land and buildings: +€173,845
- Cash -€63,906
down €63,906 (-66.3%), from €96,390 to €32,484
mainly Investment in fixed assets (net) (-€194,011) and Debts after one year (-€8,948)
- Receivables within one year -€47,962
down €47,962 (-22.6%), from €212,188 to €164,226
of which Trade receivables: -€60,250
- Profit (loss) carried forward +€66,460
up €66,460 (+19.6%), from €339,562 to €406,022
- Tax, wage and social debts +€9,952
up €9,952 (+19.5%), from €51,055 to €61,007
of which Taxes: +€6,952
- Debts after one year -€8,948
down €8,948 (-48.8%), from €18,334 to €9,385
- Trade debts +€6,381
up €6,381 (+22.6%), from €28,230 to €34,611
- Gross operating margin +€46,820
up €46,820 (+76.9%), from €60,865 to €107,685
- Taxes +€17,089
up €17,089 (+88.6%), from €19,280 to €36,370
- Depreciation +€1,926
up €1,926 (+23.8%), from €8,108 to €10,034
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 | €467,153 | €541,444 | +€74,291 | +15.9% |
| Fixed assets | 21/28 | €31,253 | €215,230 | +€183,977 | +589% |
| Tangible fixed assets | 22/27 | €31,253 | €213,930 | +€182,677 | +585% |
| Land and buildings | 22 | - | €173,845 | +€173,845 | |
| Furniture and vehicles | 24 | €31,253 | €40,085 | +€8,832 | +28.3% |
| Financial fixed assets | 28 | - | €1,300 | +€1,300 | |
| Current assets | 29/58 | €435,900 | €326,214 | -€109,686 | -25.2% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Trade receivables | 290 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €212,188 | €164,226 | -€47,962 | -22.6% |
| Trade receivables | 40 | €95,627 | €35,376 | -€60,250 | -63.0% |
| Other amounts receivable | 41 | €116,562 | €128,850 | +€12,288 | +10.5% |
| Current investments | 50/53 | €1,354 | €1,354 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €96,390 | €32,484 | -€63,906 | -66.3% |
| Deferred charges and accrued income | 490/1 | €15,968 | €18,150 | +€2,182 | +13.7% |
| Total equity and liabilities | 10/49 | €467,153 | €541,444 | +€74,291 | +15.9% |
| Equity | 10/15 | €360,022 | €426,482 | +€66,460 | +18.5% |
| 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 | €339,562 | €406,022 | +€66,460 | +19.6% |
| Amounts payable | 17/49 | €107,131 | €114,962 | +€7,831 | +7.3% |
| Amounts payable after more than one year | 17 | €18,334 | €9,385 | -€8,948 | -48.8% |
| Financial debts | 170/4 | €18,334 | €9,385 | -€8,948 | -48.8% |
| Amounts payable within one year | 42/48 | €87,817 | €104,567 | +€16,750 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €8,532 | €8,948 | +€416 | +4.9% |
| Trade debts | 44 | €28,230 | €34,611 | +€6,381 | +22.6% |
| Suppliers | 440/4 | €28,230 | €34,611 | +€6,381 | +22.6% |
| Taxes, remuneration and social security | 45 | €51,055 | €61,007 | +€9,952 | +19.5% |
| Taxes | 450/3 | €51,055 | €58,007 | +€6,952 | +13.6% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €981 | €1,010 | +€29 | +3.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,108 | €10,034 | +€1,926 | +23.8% |
| Other operating charges | 640/8 | €2,357 | €1,712 | -€644 | -27.3% |
| Gross operating margin | 9900 | €60,865 | €107,685 | +€46,820 | +76.9% |
| Operating profit (loss) | 9901 | €50,401 | €95,939 | +€45,538 | +90.4% |
| Financial income | 75/76B | €9,826 | €9,946 | +€120 | +1.2% |
| Recurring financial income | 75 | €9,826 | €9,946 | +€120 | +1.2% |
| Financial charges | 65/66B | €2,927 | €3,055 | +€128 | +4.4% |
| Recurring financial charges | 65 | €2,927 | €3,055 | +€128 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €57,300 | €102,830 | +€45,530 | +79.5% |
| Income taxes | 67/77 | €19,280 | €36,370 | +€17,089 | +88.6% |
| Profit (loss) for the period | 9904 | €38,020 | €66,460 | +€28,440 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,020 | €66,460 | +€28,440 | +74.8% |
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 24 October 2026 via checked.be.