IMMO VALENTINO: 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.
IMMO VALENTINO
Largest movements
- Tangible fixed assets +€182,954
up €182,954 (+13.9%), from €1.3m to €1.5m
- Cash +€29,513
up €29,513 (+35.8%), from €82,451 to €111,964
mainly Debts after one year (+€209,350) and Depreciation (+€77,046)
- Receivables within one year -€26,819
down €26,819 (-99.8%), from €26,864 to €45
of which Trade receivables: -€26,864
- Debts after one year +€209,350
up €209,350 (+73.3%), from €285,750 to €495,100
- Reserves -€36,496
down €36,496 (-4.1%), from €889,582 to €853,086
of which Tax-exempt reserves: -€33,367
- Current portion of long-term debt +€17,400
up €17,400 (+64.4%), from €27,000 to €44,400
- Other operating charges +€33,139
up €33,139 (+119%), from €27,863 to €61,002
- Taxes -€10,146
down €10,146 (-33.7%), from €30,101 to €19,955
- Gross operating margin +€8,598
up €8,598 (+5.7%), from €150,537 to €159,135
- Depreciation +€4,340
up €4,340 (+6.0%), from €72,706 to €77,046
- Financial charges +€2,604
up €2,604 (+46.2%), from €5,640 to €8,244
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 | €1,423,097 | €1,608,758 | +€185,661 | +13.0% |
| Fixed assets | 21/28 | €1,313,317 | €1,496,272 | +€182,954 | +13.9% |
| Tangible fixed assets | 22/27 | €1,313,317 | €1,496,272 | +€182,954 | +13.9% |
| Land and buildings | 22 | €1,313,317 | €1,496,272 | +€182,954 | +13.9% |
| Current assets | 29/58 | €109,779 | €112,486 | +€2,707 | +2.5% |
| Amounts receivable within one year | 40/41 | €26,864 | €45 | -€26,819 | -99.8% |
| Trade receivables | 40 | €26,864 | €0 | -€26,864 | -100% |
| Other amounts receivable | 41 | - | €45 | +€45 | |
| Cash at bank and in hand | 54/58 | €82,451 | €111,964 | +€29,513 | +35.8% |
| Deferred charges and accrued income | 490/1 | €465 | €477 | +€13 | +2.7% |
| Total equity and liabilities | 10/49 | €1,423,097 | €1,608,758 | +€185,661 | +13.0% |
| Equity | 10/15 | €911,358 | €874,861 | -€36,496 | -4.0% |
| Contributions | 10/11 | €21,776 | €21,776 | = | 0.0% |
| Reserves | 13 | €889,582 | €853,086 | -€36,496 | -4.1% |
| Tax-exempt reserves | 132 | €420,140 | €386,772 | -€33,367 | -7.9% |
| Distributable reserves | 133 | €469,442 | €466,313 | -€3,129 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €159,645 | €144,603 | -€15,042 | -9.4% |
| Deferred taxes | 168 | €159,645 | €144,603 | -€15,042 | -9.4% |
| Amounts payable | 17/49 | €352,094 | €589,294 | +€237,200 | +67.4% |
| Amounts payable after more than one year | 17 | €285,750 | €495,100 | +€209,350 | +73.3% |
| Financial debts | 170/4 | €285,750 | €495,100 | +€209,350 | +73.3% |
| Amounts payable within one year | 42/48 | €65,594 | €93,444 | +€27,850 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €27,000 | €44,400 | +€17,400 | +64.4% |
| Trade debts | 44 | €2,086 | €1,988 | -€98 | -4.7% |
| Suppliers | 440/4 | €2,086 | €1,988 | -€98 | -4.7% |
| Advances received on contracts in progress | 46 | - | €2,420 | +€2,420 | |
| Taxes, remuneration and social security | 45 | €1,600 | €2,563 | +€963 | +60.2% |
| Taxes | 450/3 | €1,600 | €2,563 | +€963 | +60.2% |
| Other amounts payable | 47/48 | €34,908 | €42,073 | +€7,165 | +20.5% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,706 | €77,046 | +€4,340 | +6.0% |
| Other operating charges | 640/8 | €27,863 | €61,002 | +€33,139 | +119% |
| Gross operating margin | 9900 | €150,537 | €159,135 | +€8,598 | +5.7% |
| Operating profit (loss) | 9901 | €49,968 | €21,087 | -€28,881 | -57.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,640 | €8,244 | +€2,604 | +46.2% |
| Recurring financial charges | 65 | €5,640 | €8,244 | +€2,604 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €44,328 | €12,843 | -€31,485 | -71.0% |
| Transfer from deferred taxes | 780 | €15,042 | €15,042 | = | 0.0% |
| Income taxes | 67/77 | €30,101 | €19,955 | -€10,146 | -33.7% |
| Profit (loss) for the period | 9904 | €29,269 | €7,930 | -€21,339 | -72.9% |
| Transfer from tax-exempt reserves | 789 | €33,367 | €33,367 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,636 | €41,298 | -€21,339 | -34.1% |
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 28 October 2026 via checked.be.