Waardevol: 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.
Waardevol
Largest movements
- Cash +€9.9m
up €9.9m (+3183.3%), from €310,505 to €10.2m
mainly Other debts (+€10.0m) and Net result for the year (+€2.9m)
- Current investments +€1.7m
up €1.7m (+31.8%), from €5.4m to €7.1m
- Financial fixed assets +€1.3m
up €1.3m (+66.4%), from €1.9m to €3.2m
- Other debts +€10.0m
up €10.0m (+48140.7%), from €20,727 to €10.0m
- Profit (loss) carried forward +€2.9m
up €2.9m (+49.7%), from €5.8m to €8.6m
- Financial income +€3.7m
up €3.7m (+2198.1%), from €167,312 to €3.8m
- Taxes +€928,133
up €928,133 (+9352.4%), from €9,924 to €938,057
- Gross operating margin -€296,130
down €296,130, from €264,515 to -€31,614
- Financial charges -€29,507
down €29,507 (-80.6%), from €36,630 to €7,123
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 | €8,295,376 | €21,153,595 | +€12.9m | +155.0% |
| Fixed assets | 21/28 | €1,900,676 | €3,162,926 | +€1.3m | +66.4% |
| Financial fixed assets | 28 | €1,900,676 | €3,162,926 | +€1.3m | +66.4% |
| Current assets | 29/58 | €6,394,700 | €17,990,670 | +€11.6m | +181.3% |
| Amounts receivable after more than one year | 29 | €700,000 | €700,000 | = | 0.0% |
| Other amounts receivable | 291 | €700,000 | €700,000 | = | 0.0% |
| Current investments | 50/53 | €5,384,195 | €7,096,006 | +€1.7m | +31.8% |
| Cash at bank and in hand | 54/58 | €310,505 | €10,194,663 | +€9.9m | +3183.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €8,295,376 | €21,153,595 | +€12.9m | +155.0% |
| Equity | 10/15 | €8,262,799 | €11,129,893 | +€2.9m | +34.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,478,592 | €2,478,592 | = | 0.0% |
| Distributable reserves | 133 | €2,478,592 | €2,478,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,765,607 | €8,632,701 | +€2.9m | +49.7% |
| Amounts payable | 17/49 | €32,577 | €10,023,702 | +€10.0m | +30669.4% |
| Amounts payable within one year | 42/48 | €31,043 | €10,023,702 | +€10.0m | +32189.9% |
| Trade debts | 44 | €471 | €0 | -€471 | -100.0% |
| Suppliers | 440/4 | €471 | €0 | -€471 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,845 | €24,902 | +€15,057 | +152.9% |
| Taxes | 450/3 | €9,845 | €24,902 | +€15,057 | +152.9% |
| Other amounts payable | 47/48 | €20,727 | €9,998,800 | +€10.0m | +48140.7% |
| Accrued charges and deferred income | 492/3 | €1,534 | €0 | -€1,534 | -100.0% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €264,515 | -€31,614 | -€296,130 | |
| Operating profit (loss) | 9901 | €263,486 | -€32,675 | -€296,160 | |
| Financial income | 75/76B | €167,312 | €3,844,948 | +€3.7m | +2198.1% |
| Recurring financial income | 75 | €167,312 | €3,844,948 | +€3.7m | +2198.1% |
| Financial charges | 65/66B | €36,630 | €7,123 | -€29,507 | -80.6% |
| Recurring financial charges | 65 | €36,630 | €7,123 | -€29,507 | -80.6% |
| Profit (loss) for the period before taxes | 9903 | €394,168 | €3,805,151 | +€3.4m | +865.4% |
| Income taxes | 67/77 | €9,924 | €938,057 | +€928,133 | +9352.4% |
| Profit (loss) for the period | 9904 | €384,244 | €2,867,094 | +€2.5m | +646.2% |
| Profit (loss) for the period to be appropriated | 9905 | €384,244 | €2,867,094 | +€2.5m | +646.2% |
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 7 October 2026 via checked.be.