YVAL: 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.
YVAL
Largest movements
- Receivables within one year -€90,461
down €90,461 (-76.0%), from €119,099 to €28,638
of which Trade receivables: -€91,745
- Stocks and contracts +€34,084
up €34,084 (+39.1%), from €87,125 to €121,209
- Cash -€15,614
down €15,614 (-16.9%), from €92,463 to €76,849
mainly Trade debts (-€92,709) and Stocks and contracts (-€34,084)
- Intangible fixed assets -€4,482
down €4,482 (-47.0%), from €9,537 to €5,055
- Trade debts -€92,709
down €92,709 (-54.5%), from €170,112 to €77,403
- Tax, wage and social debts +€13,012
up €13,012 (+21.0%), from €61,964 to €74,976
of which Taxes: +€11,725
- Reserves +€13,000
up €13,000 (+18.3%), from €71,105 to €84,105
- Accrued charges and deferred income -€5,504
no longer reported in 2025 (was €5,504)
- Staff costs +€14,266
up €14,266 (+24.7%), from €57,670 to €71,936
- Gross operating margin -€10,172
down €10,172 (-7.5%), from €135,600 to €125,428
- Taxes -€6,165
down €6,165 (-31.4%), from €19,623 to €13,458
- Financial income +€4,822
up €4,822 (+223%), from €2,165 to €6,987
- Other operating charges +€4,799
up €4,799 (+472%), from €1,016 to €5,815
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 | €333,633 | €255,526 | -€78,107 | -23.4% |
| Fixed assets | 21/28 | €23,892 | €20,608 | -€3,284 | -13.7% |
| Intangible fixed assets | 21 | €9,537 | €5,055 | -€4,482 | -47.0% |
| Tangible fixed assets | 22/27 | €14,216 | €15,414 | +€1,198 | +8.4% |
| Plant, machinery and equipment | 23 | €2,703 | €2,212 | -€491 | -18.2% |
| Furniture and vehicles | 24 | €5,639 | €9,463 | +€3,824 | +67.8% |
| Leasing and similar rights | 25 | €229 | - | -€229 | |
| Other tangible fixed assets | 26 | €5,645 | €3,739 | -€1,906 | -33.8% |
| Financial fixed assets | 28 | €139 | €139 | = | 0.0% |
| Current assets | 29/58 | €309,741 | €234,918 | -€74,823 | -24.2% |
| Stocks and contracts in progress | 3 | €87,125 | €121,209 | +€34,084 | +39.1% |
| Stocks | 30/36 | €87,125 | €121,209 | +€34,084 | +39.1% |
| Amounts receivable within one year | 40/41 | €119,099 | €28,638 | -€90,461 | -76.0% |
| Trade receivables | 40 | €118,535 | €26,790 | -€91,745 | -77.4% |
| Other amounts receivable | 41 | €564 | €1,848 | +€1,284 | +228% |
| Cash at bank and in hand | 54/58 | €92,463 | €76,849 | -€15,614 | -16.9% |
| Deferred charges and accrued income | 490/1 | €11,054 | €8,222 | -€2,832 | -25.6% |
| Total equity and liabilities | 10/49 | €333,633 | €255,526 | -€78,107 | -23.4% |
| Equity | 10/15 | €89,482 | €101,481 | +€11,999 | +13.4% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €71,105 | €84,105 | +€13,000 | +18.3% |
| Distributable reserves | 133 | €71,105 | €84,105 | +€13,000 | +18.3% |
| Profit (loss) carried forward | 14 | €8,307 | €9,126 | +€819 | +9.9% |
| Investment grants | 15 | €3,820 | €2,000 | -€1,820 | -47.6% |
| Amounts payable | 17/49 | €244,151 | €154,045 | -€90,106 | -36.9% |
| Amounts payable within one year | 42/48 | €238,647 | €154,045 | -€84,602 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €2,630 | - | -€2,630 | |
| Trade debts | 44 | €170,112 | €77,403 | -€92,709 | -54.5% |
| Suppliers | 440/4 | €170,112 | €77,403 | -€92,709 | -54.5% |
| Taxes, remuneration and social security | 45 | €61,964 | €74,976 | +€13,012 | +21.0% |
| Taxes | 450/3 | €49,029 | €60,754 | +€11,725 | +23.9% |
| Remuneration and social security | 454/9 | €12,935 | €14,222 | +€1,287 | +9.9% |
| Other amounts payable | 47/48 | €3,941 | €1,666 | -€2,275 | -57.7% |
| Accrued charges and deferred income | 492/3 | €5,504 | - | -€5,504 | |
| Remuneration, social security and pensions | 62 | €57,670 | €71,936 | +€14,266 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,420 | €12,048 | -€1,372 | -10.2% |
| Other operating charges | 640/8 | €1,016 | €5,815 | +€4,799 | +472% |
| Non-recurring operating charges | 66A | €876 | €2,837 | +€1,961 | +224% |
| Gross operating margin | 9900 | €135,600 | €125,428 | -€10,172 | -7.5% |
| Operating profit (loss) | 9901 | €62,618 | €32,792 | -€29,826 | -47.6% |
| Financial income | 75/76B | €2,165 | €6,987 | +€4,822 | +223% |
| Recurring financial income | 75 | €2,165 | €6,987 | +€4,822 | +223% |
| Financial charges | 65/66B | €11,388 | €10,836 | -€552 | -4.8% |
| Recurring financial charges | 65 | €11,388 | €10,836 | -€552 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €53,395 | €28,943 | -€24,452 | -45.8% |
| Income taxes | 67/77 | €19,623 | €13,458 | -€6,165 | -31.4% |
| Profit (loss) for the period | 9904 | €33,772 | €15,485 | -€18,287 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,772 | €15,485 | -€18,287 | -54.1% |
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 13 October 2026 via checked.be.