"LA VALENCIENNOISE": 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.
"LA VALENCIENNOISE"
Largest movements
- Tangible fixed assets +€250,350
up €250,350 (+184%), from €135,783 to €386,133
- Receivables within one year -€33,249
no longer reported in 2025 (was €33,249)
- Debts after one year +€193,566
up €193,566 (+178%), from €108,517 to €302,083
of which Financial debts: +€183,030
- Other debts +€18,000
new in 2025: €18,000
- Current portion of long-term debt +€11,922
up €11,922 (+105%), from €11,374 to €23,296
- Profit (loss) carried forward -€6,179
new in 2025: -€6,179
- Depreciation +€6,733
up €6,733 (+131%), from €5,131 to €11,864
- Financial charges +€5,199
up €5,199 (+370%), from €1,406 to €6,605
- Gross operating margin +€2,714
up €2,714 (+19.2%), from €14,107 to €16,821
- Other operating charges +€1,622
up €1,622 (+55.8%), from €2,909 to €4,531
- Taxes -€1,483
no longer reported in 2025 (was €1,483)
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 | €169,635 | €386,944 | +€217,309 | +128% |
| Fixed assets | 21/28 | €135,783 | €386,133 | +€250,350 | +184% |
| Tangible fixed assets | 22/27 | €135,783 | €386,133 | +€250,350 | +184% |
| Land and buildings | 22 | €135,783 | €386,133 | +€250,350 | +184% |
| Current assets | 29/58 | €33,851 | €811 | -€33,041 | -97.6% |
| Amounts receivable within one year | 40/41 | €33,249 | - | -€33,249 | |
| Other amounts receivable | 41 | €33,249 | - | -€33,249 | |
| Cash at bank and in hand | 54/58 | €602 | €811 | +€208 | +34.6% |
| Total equity and liabilities | 10/49 | €169,635 | €386,944 | +€217,309 | +128% |
| Equity | 10/15 | €49,744 | €43,565 | -€6,179 | -12.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €19,744 | €19,744 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,183 | €1,183 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,183 | €1,183 | = | 0.0% |
| Distributable reserves | 133 | €18,562 | €18,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,179 | -€6,179 | |
| Amounts payable | 17/49 | €119,890 | €343,379 | +€223,489 | +186% |
| Amounts payable after more than one year | 17 | €108,517 | €302,083 | +€193,566 | +178% |
| Financial debts | 170/4 | €78,217 | €261,247 | +€183,030 | +234% |
| Other amounts payable | 178/9 | €30,300 | €40,837 | +€10,537 | +34.8% |
| Amounts payable within one year | 42/48 | €11,374 | €41,296 | +€29,922 | +263% |
| Current portion of amounts payable after more than one year | 42 | €11,374 | €23,296 | +€11,922 | +105% |
| Other amounts payable | 47/48 | - | €18,000 | +€18,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,131 | €11,864 | +€6,733 | +131% |
| Other operating charges | 640/8 | €2,909 | €4,531 | +€1,622 | +55.8% |
| Gross operating margin | 9900 | €14,107 | €16,821 | +€2,714 | +19.2% |
| Operating profit (loss) | 9901 | €6,067 | €426 | -€5,642 | -93.0% |
| Financial charges | 65/66B | €1,406 | €6,605 | +€5,199 | +370% |
| Recurring financial charges | 65 | €1,406 | €6,605 | +€5,199 | +370% |
| Profit (loss) for the period before taxes | 9903 | €4,661 | -€6,179 | -€10,841 | |
| Income taxes | 67/77 | €1,483 | - | -€1,483 | |
| Profit (loss) for the period | 9904 | €3,178 | -€6,179 | -€9,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,178 | -€6,179 | -€9,358 |
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.