YVALSO: 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.
YVALSO
Largest movements
- Cash -€47,021
down €47,021 (-47.8%), from €98,329 to €51,308
mainly Net result for the year (-€72,039) and Tax, wage and social debts (-€54,067)
- Stocks and contracts -€39,762
down €39,762 (-21.9%), from €181,894 to €142,132
- Receivables within one year -€22,937
down €22,937 (-41.0%), from €55,983 to €33,046
of which Trade receivables: -€28,756
- Tangible fixed assets -€22,635
down €22,635 (-28.2%), from €80,195 to €57,560
of which Other tangible fixed assets: -€12,991
- Profit (loss) carried forward -€72,039
down €72,039, from €15,488 to -€56,550
- Tax, wage and social debts -€54,067
down €54,067 (-59.7%), from €90,579 to €36,513
of which Taxes: -€50,766
- Debts after one year -€29,404
down €29,404 (-42.4%), from €69,286 to €39,882
- Trade debts +€13,368
up €13,368 (+14.6%), from €91,670 to €105,038
- Short-term financial debts +€10,520
up €10,520 (+43.7%), from €24,092 to €34,613
- Gross operating margin +€57,295
up €57,295, from -€39,067 to €18,228
- Other operating charges +€5,248
up €5,248 (+148%), from €3,549 to €8,797
- Staff costs -€4,567
down €4,567 (-9.2%), from €49,686 to €45,119
- Financial charges +€1,164
up €1,164 (+11.6%), from €10,036 to €11,200
- Depreciation -€650
down €650 (-2.4%), from €26,629 to €25,979
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 | €437,317 | €301,803 | -€135,514 | -31.0% |
| Fixed assets | 21/28 | €98,311 | €72,332 | -€25,979 | -26.4% |
| Intangible fixed assets | 21 | €14,116 | €10,772 | -€3,344 | -23.7% |
| Tangible fixed assets | 22/27 | €80,195 | €57,560 | -€22,635 | -28.2% |
| Plant, machinery and equipment | 23 | €5,147 | €3,331 | -€1,816 | -35.3% |
| Furniture and vehicles | 24 | €11,009 | €6,639 | -€4,370 | -39.7% |
| Leasing and similar rights | 25 | €3,458 | €0 | -€3,458 | -100% |
| Other tangible fixed assets | 26 | €60,581 | €47,590 | -€12,991 | -21.4% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €339,006 | €229,471 | -€109,535 | -32.3% |
| Stocks and contracts in progress | 3 | €181,894 | €142,132 | -€39,762 | -21.9% |
| Stocks | 30/36 | €181,894 | €142,132 | -€39,762 | -21.9% |
| Amounts receivable within one year | 40/41 | €55,983 | €33,046 | -€22,937 | -41.0% |
| Trade receivables | 40 | €32,402 | €3,646 | -€28,756 | -88.7% |
| Other amounts receivable | 41 | €23,582 | €29,400 | +€5,818 | +24.7% |
| Cash at bank and in hand | 54/58 | €98,329 | €51,308 | -€47,021 | -47.8% |
| Deferred charges and accrued income | 490/1 | €2,800 | €2,985 | +€185 | +6.6% |
| Total equity and liabilities | 10/49 | €437,317 | €301,803 | -€135,514 | -31.0% |
| Equity | 10/15 | €127,488 | €55,450 | -€72,039 | -56.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,800 | €105,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €105,800 | €105,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,488 | -€56,550 | -€72,039 | |
| Amounts payable | 17/49 | €309,829 | €246,354 | -€63,475 | -20.5% |
| Amounts payable after more than one year | 17 | €69,286 | €39,882 | -€29,404 | -42.4% |
| Financial debts | 170/4 | €69,286 | €39,882 | -€29,404 | -42.4% |
| Amounts payable within one year | 42/48 | €240,223 | €206,472 | -€33,751 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €33,809 | €30,309 | -€3,500 | -10.4% |
| Financial debts | 43 | €24,092 | €34,613 | +€10,520 | +43.7% |
| Credit institutions | 430/8 | €24,092 | €34,613 | +€10,520 | +43.7% |
| Trade debts | 44 | €91,670 | €105,038 | +€13,368 | +14.6% |
| Suppliers | 440/4 | €91,670 | €105,038 | +€13,368 | +14.6% |
| Taxes, remuneration and social security | 45 | €90,579 | €36,513 | -€54,067 | -59.7% |
| Taxes | 450/3 | €75,331 | €24,564 | -€50,766 | -67.4% |
| Remuneration and social security | 454/9 | €15,249 | €11,948 | -€3,300 | -21.6% |
| Other amounts payable | 47/48 | €73 | €0 | -€73 | -100% |
| Accrued charges and deferred income | 492/3 | €320 | €0 | -€320 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €49,686 | €45,119 | -€4,567 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,629 | €25,979 | -€650 | -2.4% |
| Other operating charges | 640/8 | €3,549 | €8,797 | +€5,248 | +148% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€39,067 | €18,228 | +€57,295 | |
| Operating profit (loss) | 9901 | -€118,931 | -€61,667 | +€57,264 | +48.1% |
| Financial income | 75/76B | €554 | €969 | +€415 | +74.9% |
| Recurring financial income | 75 | €554 | €969 | +€415 | +74.9% |
| Financial charges | 65/66B | €10,036 | €11,200 | +€1,164 | +11.6% |
| Recurring financial charges | 65 | €10,036 | €11,200 | +€1,164 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | -€128,412 | -€71,898 | +€56,514 | +44.0% |
| Income taxes | 67/77 | €132 | €141 | +€9 | +6.5% |
| Profit (loss) for the period | 9904 | -€128,544 | -€72,039 | +€56,506 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€128,544 | -€72,039 | +€56,506 | +44.0% |
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 15 October 2026 via checked.be.