2Valorise: 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.
What changed
2Valorise
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€935,652
2024 · €438,225+€497,427
Equity
€26.9m
2024 · €26.0m+€935,652
Cash
€24,096
2024 · €100,624-€76,528
Balance sheet total
€27.3m
2024 · €26.5m+€851,517
Largest movements
Assets
- Financial fixed assets +€4.5m
up €4.5m (+21.2%), from €21.2m to €25.7m
- Receivables within one year -€3.6m
down €3.6m (-70.5%), from €5.0m to €1.5m
of which Other amounts receivable: -€3.6m
Equity and liabilities
- Profit (loss) carried forward +€888,869
up €888,869 (+26.7%), from €3.3m to €4.2m
Income statement
- Services and other goods -€210,530
down €210,530 (-17.1%), from €1.2m to €1.0m
- Turnover +€172,156
up €172,156 (+6.6%), from €2.6m to €2.8m
- Goods and materials -€69,033
down €69,033 (-5.5%), from €1.3m to €1.2m
- Financial income +€48,892
up €48,892 (+27.7%), from €176,691 to €225,582
of which Financial income: +€48,892
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.
Result 2024
€438,225
Turnover
+€172,156
Other operating income
+€9,507
Goods and materials
+€69,033
Services and other goods
+€210,530
Staff costs
-€10,297
Depreciation
-€6,298
Other operating charges
+€102
Financial income
+€48,892
Financial charges
+€3,798
Taxes
+€3
Result 2025
€935,652
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.
From operations
+€4.4m
Investment
-€4.5m
Financing
+€60,000
Cash 2024
€100,624
From operations (derived)
+€4.4m
Net result for the year
+€935,652
Depreciation
+€16,787
Receivables within one year
+€3.6m
Smaller working-capital items
+€6,492
Trade debts
-€89,897
Other debts
-€60,000
Investment (derived)
-€4.5m
Investment in fixed assets (net)
-€4.5m
Financing
+€60,000
Debts after one year
+€60,000
Cash 2025
€24,096
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,451,190 | €27,302,707 | +€851,517 | +3.2% |
| Fixed assets | 21/28 | €21,309,092 | €25,789,667 | +€4.5m | +21.0% |
| Intangible fixed assets | 21 | - | €4,490 | +€4,490 | |
| Tangible fixed assets | 22/27 | €59,366 | €35,451 | -€23,914 | -40.3% |
| Land and buildings | 22 | €9,309 | €0 | -€9,309 | -100.0% |
| Furniture and vehicles | 24 | €50,056 | €35,451 | -€14,605 | -29.2% |
| Financial fixed assets | 28 | €21,249,726 | €25,749,726 | +€4.5m | +21.2% |
| Affiliated companies | 280/1 | €21,249,726 | €25,749,726 | +€4.5m | +21.2% |
| Participating interests | 280 | €15,849,726 | €20,349,726 | +€4.5m | +28.4% |
| Amounts receivable | 281 | €5,400,000 | €5,400,000 | = | 0.0% |
| Current assets | 29/58 | €5,142,098 | €1,513,040 | -€3.6m | -70.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,034,925 | €1,483,125 | -€3.6m | -70.5% |
| Trade receivables | 40 | €303,321 | €333,486 | +€30,166 | +9.9% |
| Other amounts receivable | 41 | €4,731,605 | €1,149,639 | -€3.6m | -75.7% |
| Cash at bank and in hand | 54/58 | €100,624 | €24,096 | -€76,528 | -76.1% |
| Deferred charges and accrued income | 490/1 | €6,549 | €5,819 | -€730 | -11.1% |
| Total equity and liabilities | 10/49 | €26,451,190 | €27,302,707 | +€851,517 | +3.2% |
| Equity | 10/15 | €25,970,666 | €26,906,318 | +€935,652 | +3.6% |
| Contributions | 10/11 | €21,687,916 | €21,687,916 | = | 0.0% |
| Capital | 10 | €19,429,725 | €19,429,725 | = | 0.0% |
| Issued capital | 100 | €19,429,725 | €19,429,725 | = | 0.0% |
| Contributions outside capital | 11 | €2,258,191 | €2,258,191 | = | 0.0% |
| Share premium | 1100/10 | €2,258,191 | €2,258,191 | = | 0.0% |
| Reserves | 13 | €954,331 | €1,001,113 | +€46,783 | +4.9% |
| Non-distributable reserves | 130/1 | €954,331 | €1,001,113 | +€46,783 | +4.9% |
| Legal reserve | 130 | €954,331 | €1,001,113 | +€46,783 | +4.9% |
| Profit (loss) carried forward | 14 | €3,328,419 | €4,217,289 | +€888,869 | +26.7% |
| Amounts payable | 17/49 | €480,524 | €396,389 | -€84,135 | -17.5% |
| Amounts payable after more than one year | 17 | - | €60,000 | +€60,000 | |
| Other amounts payable | 178/9 | - | €60,000 | +€60,000 | |
| Amounts payable within one year | 42/48 | €480,486 | €333,989 | -€146,497 | -30.5% |
| Trade debts | 44 | €362,074 | €272,176 | -€89,897 | -24.8% |
| Suppliers | 440/4 | €362,074 | €272,176 | -€89,897 | -24.8% |
| Taxes, remuneration and social security | 45 | €28,413 | €31,813 | +€3,400 | +12.0% |
| Taxes | 450/3 | €3,442 | €4,541 | +€1,099 | +31.9% |
| Remuneration and social security | 454/9 | €24,971 | €27,272 | +€2,301 | +9.2% |
| Other amounts payable | 47/48 | €90,000 | €30,000 | -€60,000 | -66.7% |
| Accrued charges and deferred income | 492/3 | €38 | €2,400 | +€2,362 | +6296.6% |
| Operating income | 70/76A | €2,904,357 | €3,086,021 | +€181,664 | +6.3% |
| Turnover | 70 | €2,613,373 | €2,785,529 | +€172,156 | +6.6% |
| Other operating income | 74 | €290,984 | €300,492 | +€9,507 | +3.3% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Operating charges | 60/66A | €2,631,548 | €2,368,478 | -€263,070 | -10.0% |
| Goods for resale, raw materials and consumables | 60 | €1,260,532 | €1,191,500 | -€69,033 | -5.5% |
| Purchases | 600/8 | €1,260,532 | €1,191,500 | -€69,033 | -5.5% |
| Services and other goods | 61 | €1,228,135 | €1,017,605 | -€210,530 | -17.1% |
| Remuneration, social security and pensions | 62 | €130,688 | €140,985 | +€10,297 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,489 | €16,787 | +€6,298 | +60.0% |
| Other operating charges | 640/8 | €1,703 | €1,601 | -€102 | -6.0% |
| Operating profit (loss) | 9901 | €272,809 | €717,543 | +€444,734 | +163.0% |
| Financial income | 75/76B | €176,691 | €225,582 | +€48,892 | +27.7% |
| Recurring financial income | 75 | €176,691 | €225,582 | +€48,892 | +27.7% |
| Income from financial fixed assets | 750 | €174,769 | €225,582 | +€50,814 | +29.1% |
| Income from current assets | 751 | €1,922 | €0 | -€1,922 | -100.0% |
| Other financial income | 752/9 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €10,890 | €7,092 | -€3,798 | -34.9% |
| Recurring financial charges | 65 | €10,890 | €7,092 | -€3,798 | -34.9% |
| Debt charges | 650 | €9,851 | €6,391 | -€3,460 | -35.1% |
| Other financial charges | 652/9 | €1,039 | €701 | -€338 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €438,610 | €936,034 | +€497,424 | +113.4% |
| Income taxes | 67/77 | €385 | €382 | -€3 | -0.9% |
| Taxes | 670/3 | €385 | €382 | -€3 | -0.9% |
| Profit (loss) for the period | 9904 | €438,225 | €935,652 | +€497,427 | +113.5% |
| Profit (loss) for the period to be appropriated | 9905 | €438,225 | €935,652 | +€497,427 | +113.5% |
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 12 October 2026 via checked.be.