VALVIVE: 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.
VALVIVE
Largest movements
- Cash -€17,007
down €17,007 (-20.8%), from €81,643 to €64,636
mainly Tax, wage and social debts (-€28,397) and Receivables within one year (-€13,889)
- Receivables within one year +€13,889
up €13,889 (+71.1%), from €19,547 to €33,436
of which Other amounts receivable: +€31,676
- Receivables after one year -€4,989
no longer reported in 2025 (was €4,989)
- Tax, wage and social debts -€28,397
down €28,397 (-78.5%), from €36,186 to €7,789
- Profit (loss) carried forward +€24,757
up €24,757 (+37.5%), from €66,102 to €90,859
- Other debts -€5,730
no longer reported in 2025 (was €5,730)
- Current portion of long-term debt +€1,527
new in 2025: €1,527
- Gross operating margin -€72,453
down €72,453 (-67.5%), from €107,394 to €34,941
- Depreciation -€17,604
down €17,604 (-94.8%), from €18,562 to €958
- Taxes -€13,261
down €13,261 (-62.8%), from €21,127 to €7,865
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 | €109,641 | €101,867 | -€7,774 | -7.1% |
| Fixed assets | 21/28 | €1,604 | €1,993 | +€390 | +24.3% |
| Tangible fixed assets | 22/27 | €1,604 | €1,993 | +€390 | +24.3% |
| Plant, machinery and equipment | 23 | - | €1,327 | +€1,327 | |
| Furniture and vehicles | 24 | €1,604 | €667 | -€937 | -58.4% |
| Current assets | 29/58 | €108,037 | €99,873 | -€8,164 | -7.6% |
| Amounts receivable after more than one year | 29 | €4,989 | - | -€4,989 | |
| Trade receivables | 290 | €4,989 | - | -€4,989 | |
| Amounts receivable within one year | 40/41 | €19,547 | €33,436 | +€13,889 | +71.1% |
| Trade receivables | 40 | €17,868 | €81 | -€17,787 | -99.5% |
| Other amounts receivable | 41 | €1,679 | €33,355 | +€31,676 | +1886.2% |
| Cash at bank and in hand | 54/58 | €81,643 | €64,636 | -€17,007 | -20.8% |
| Deferred charges and accrued income | 490/1 | €1,858 | €1,802 | -€56 | -3.0% |
| Total equity and liabilities | 10/49 | €109,641 | €101,867 | -€7,774 | -7.1% |
| Equity | 10/15 | €67,602 | €92,359 | +€24,757 | +36.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,102 | €90,859 | +€24,757 | +37.5% |
| Amounts payable | 17/49 | €42,038 | €9,507 | -€32,531 | -77.4% |
| Amounts payable within one year | 42/48 | €42,038 | €9,507 | -€32,531 | -77.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,527 | +€1,527 | |
| Trade debts | 44 | €122 | €191 | +€69 | +56.2% |
| Suppliers | 440/4 | €122 | €191 | +€69 | +56.2% |
| Taxes, remuneration and social security | 45 | €36,186 | €7,789 | -€28,397 | -78.5% |
| Taxes | 450/3 | €36,186 | €7,789 | -€28,397 | -78.5% |
| Other amounts payable | 47/48 | €5,730 | - | -€5,730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,562 | €958 | -€17,604 | -94.8% |
| Other operating charges | 640/8 | €1,016 | €1,273 | +€257 | +25.3% |
| Gross operating margin | 9900 | €107,394 | €34,941 | -€72,453 | -67.5% |
| Operating profit (loss) | 9901 | €87,816 | €32,710 | -€55,106 | -62.8% |
| Financial income | 75/76B | €341 | €523 | +€182 | +53.4% |
| Recurring financial income | 75 | €341 | €523 | +€182 | +53.4% |
| Financial charges | 65/66B | €159 | €611 | +€452 | +283.7% |
| Recurring financial charges | 65 | €159 | €611 | +€452 | +283.7% |
| Profit (loss) for the period before taxes | 9903 | €87,997 | €32,622 | -€55,375 | -62.9% |
| Income taxes | 67/77 | €21,127 | €7,865 | -€13,261 | -62.8% |
| Profit (loss) for the period | 9904 | €66,871 | €24,757 | -€42,114 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,871 | €24,757 | -€42,114 | -63.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.