VALVIC: 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.
VALVIC
Largest movements
- Receivables within one year -€81,801
down €81,801 (-42.7%), from €191,650 to €109,849
of which Trade receivables: -€103,634
- Other debts -€68,855
down €68,855 (-57.5%), from €119,786 to €50,931
- Tax, wage and social debts -€14,105
down €14,105 (-98.3%), from €14,346 to €240
of which Remuneration and social security: -€10,459
- Staff costs -€67,739
down €67,739 (-75.4%), from €89,864 to €22,125
- Gross operating margin -€60,748
down €60,748 (-57.2%), from €106,145 to €45,397
- Financial charges +€1,991
up €1,991 (+1315.2%), from €151 to €2,142
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 | €197,320 | €116,348 | -€80,972 | -41.0% |
| Fixed assets | 21/28 | €5,044 | €5,000 | -€44 | -0.9% |
| Tangible fixed assets | 22/27 | €44 | €0 | -€44 | -100.0% |
| Furniture and vehicles | 24 | €44 | €0 | -€44 | -100.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €192,276 | €111,348 | -€80,928 | -42.1% |
| Amounts receivable within one year | 40/41 | €191,650 | €109,849 | -€81,801 | -42.7% |
| Trade receivables | 40 | €105,812 | €2,177 | -€103,634 | -97.9% |
| Other amounts receivable | 41 | €85,838 | €107,672 | +€21,833 | +25.4% |
| Cash at bank and in hand | 54/58 | €626 | €1,499 | +€873 | +139.4% |
| Total equity and liabilities | 10/49 | €197,320 | €116,348 | -€80,972 | -41.0% |
| Equity | 10/15 | €61,054 | €61,054 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €42,504 | €42,504 | = | 0.0% |
| Distributable reserves | 133 | €42,504 | €42,504 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €136,266 | €55,294 | -€80,972 | -59.4% |
| Amounts payable within one year | 42/48 | €136,266 | €53,345 | -€82,921 | -60.9% |
| Trade debts | 44 | €2,134 | €2,174 | +€40 | +1.9% |
| Suppliers | 440/4 | €2,134 | €2,174 | +€40 | +1.9% |
| Taxes, remuneration and social security | 45 | €14,346 | €240 | -€14,105 | -98.3% |
| Taxes | 450/3 | €3,887 | €240 | -€3,646 | -93.8% |
| Remuneration and social security | 454/9 | €10,459 | €0 | -€10,459 | -100.0% |
| Other amounts payable | 47/48 | €119,786 | €50,931 | -€68,855 | -57.5% |
| Accrued charges and deferred income | 492/3 | - | €1,949 | +€1,949 | |
| Remuneration, social security and pensions | 62 | €89,864 | €22,125 | -€67,739 | -75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340 | €44 | -€296 | -87.1% |
| Other operating charges | 640/8 | €404 | €400 | -€5 | -1.1% |
| Gross operating margin | 9900 | €106,145 | €45,397 | -€60,748 | -57.2% |
| Operating profit (loss) | 9901 | €15,537 | €22,829 | +€7,291 | +46.9% |
| Financial income | 75/76B | €6,251 | €5,896 | -€355 | -5.7% |
| Recurring financial income | 75 | €6,251 | €5,896 | -€355 | -5.7% |
| Financial charges | 65/66B | €151 | €2,142 | +€1,991 | +1315.2% |
| Recurring financial charges | 65 | €151 | €2,142 | +€1,991 | +1315.2% |
| Profit (loss) for the period before taxes | 9903 | €21,637 | €26,582 | +€4,945 | +22.9% |
| Income taxes | 67/77 | €6,848 | €6,240 | -€608 | -8.9% |
| Profit (loss) for the period | 9904 | €14,789 | €20,342 | +€5,553 | +37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,789 | €20,342 | +€5,553 | +37.5% |
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 8 October 2026 via checked.be.