VALY CONSULT: 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.
VALY CONSULT
Largest movements
- Tangible fixed assets -€27,571
down €27,571 (-10.9%), from €253,016 to €225,445
of which Land and buildings: -€26,774
- Receivables within one year +€23,492
up €23,492 (+99.7%), from €23,554 to €47,046
of which Trade receivables: +€18,255
- Cash +€14,900
up €14,900 (+41.8%), from €35,651 to €50,551
mainly Depreciation (+€62,635) and Other debts (+€44,980)
- Deferred charges and accrued income -€6,356
down €6,356 (-84.2%), from €7,549 to €1,193
- Other debts +€44,980
up €44,980 (+49.2%), from €91,369 to €136,349
- Reserves -€44,741
down €44,741 (-24.7%), from €181,227 to €136,486
- Debts after one year +€9,747
up €9,747 (+46.3%), from €21,064 to €30,811
- Current portion of long-term debt -€8,719
down €8,719 (-35.1%), from €24,814 to €16,095
- Trade debts +€8,214
up €8,214 (+235.7%), from €3,485 to €11,699
- Gross operating margin -€28,432
down €28,432 (-23.2%), from €122,597 to €94,165
- Taxes -€6,638
down €6,638 (-56.2%), from €11,807 to €5,169
- Depreciation +€6,487
up €6,487 (+11.6%), from €56,148 to €62,635
- Other operating charges -€4,213
down €4,213 (-32.7%), from €12,878 to €8,666
- Staff costs -€3,209
down €3,209 (-38.0%), from €8,454 to €5,245
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 | €337,439 | €341,904 | +€4,464 | +1.3% |
| Fixed assets | 21/28 | €253,016 | €225,445 | -€27,571 | -10.9% |
| Tangible fixed assets | 22/27 | €253,016 | €225,445 | -€27,571 | -10.9% |
| Land and buildings | 22 | €141,437 | €114,662 | -€26,774 | -18.9% |
| Furniture and vehicles | 24 | €111,579 | €110,782 | -€797 | -0.7% |
| Current assets | 29/58 | €84,424 | €116,459 | +€32,035 | +37.9% |
| Amounts receivable within one year | 40/41 | €23,554 | €47,046 | +€23,492 | +99.7% |
| Trade receivables | 40 | €21,357 | €39,612 | +€18,255 | +85.5% |
| Other amounts receivable | 41 | €2,197 | €7,434 | +€5,237 | +238.3% |
| Current investments | 50/53 | €17,669 | €17,669 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,651 | €50,551 | +€14,900 | +41.8% |
| Deferred charges and accrued income | 490/1 | €7,549 | €1,193 | -€6,356 | -84.2% |
| Total equity and liabilities | 10/49 | €337,439 | €341,904 | +€4,464 | +1.3% |
| Equity | 10/15 | €181,280 | €136,539 | -€44,741 | -24.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €181,227 | €136,486 | -€44,741 | -24.7% |
| Distributable reserves | 133 | €181,227 | €136,486 | -€44,741 | -24.7% |
| Profit (loss) carried forward | 14 | -€20,407 | -€20,407 | = | 0.0% |
| Amounts payable | 17/49 | €156,159 | €205,365 | +€49,206 | +31.5% |
| Amounts payable after more than one year | 17 | €21,064 | €30,811 | +€9,747 | +46.3% |
| Financial debts | 170/4 | €21,064 | €30,811 | +€9,747 | +46.3% |
| Amounts payable within one year | 42/48 | €127,103 | €171,325 | +€44,222 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €24,814 | €16,095 | -€8,719 | -35.1% |
| Trade debts | 44 | €3,485 | €11,699 | +€8,214 | +235.7% |
| Suppliers | 440/4 | €3,485 | €11,699 | +€8,214 | +235.7% |
| Taxes, remuneration and social security | 45 | €7,435 | €7,182 | -€253 | -3.4% |
| Taxes | 450/3 | €7,435 | €6,899 | -€536 | -7.2% |
| Remuneration and social security | 454/9 | - | €283 | +€283 | |
| Other amounts payable | 47/48 | €91,369 | €136,349 | +€44,980 | +49.2% |
| Accrued charges and deferred income | 492/3 | €7,991 | €3,229 | -€4,762 | -59.6% |
| Non-recurring operating income | 76A | €12,980 | €5,372 | -€7,608 | -58.6% |
| Remuneration, social security and pensions | 62 | €8,454 | €5,245 | -€3,209 | -38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,148 | €62,635 | +€6,487 | +11.6% |
| Other operating charges | 640/8 | €12,878 | €8,666 | -€4,213 | -32.7% |
| Gross operating margin | 9900 | €122,597 | €94,165 | -€28,432 | -23.2% |
| Operating profit (loss) | 9901 | €45,116 | €17,620 | -€27,497 | -60.9% |
| Financial income | 75/76B | €1,093 | €712 | -€381 | -34.9% |
| Recurring financial income | 75 | €1,093 | €712 | -€381 | -34.9% |
| Financial charges | 65/66B | €6,015 | €5,654 | -€361 | -6.0% |
| Recurring financial charges | 65 | €6,015 | €5,654 | -€361 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €40,194 | €12,678 | -€27,517 | -68.5% |
| Income taxes | 67/77 | €11,807 | €5,169 | -€6,638 | -56.2% |
| Profit (loss) for the period | 9904 | €28,387 | €7,509 | -€20,879 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,387 | €7,509 | -€20,879 | -73.5% |
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 10 October 2026 via checked.be.