LE VAL D'EREFFE: 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.
LE VAL D'EREFFE
Largest movements
- Tangible fixed assets -€23,547
down €23,547 (-30.5%), from €77,163 to €53,616
of which Plant, machinery and equipment: -€12,706
- Receivables within one year -€5,169
down €5,169 (-47.7%), from €10,835 to €5,666
of which Trade receivables: -€3,595
- Stocks and contracts +€4,075
up €4,075 (+98.4%), from €4,142 to €8,217
- Deferred charges and accrued income -€2,374
down €2,374 (-33.4%), from €7,100 to €4,726
- Other debts -€6,969
down €6,969 (-41.2%), from €16,908 to €9,939
- Trade debts -€6,464
down €6,464 (-59.5%), from €10,866 to €4,402
- Current portion of long-term debt -€6,302
down €6,302 (-50.9%), from €12,390 to €6,088
- Debts after one year -€6,088
down €6,088 (-21.2%), from €28,752 to €22,664
- Contributions +€1,860
up €1,860 (+30.0%), from €6,200 to €8,060
- Taxes +€2,690
new in 2025: €2,690
- Depreciation +€2,562
up €2,562 (+9.3%), from €27,552 to €30,114
- Gross operating margin -€1,841
down €1,841 (-4.9%), from €37,550 to €35,709
- Staff costs -€952
down €952 (-100%), from €952 to €0
- Other operating charges +€508
up €508 (+35.3%), from €1,438 to €1,946
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 | €99,240 | €72,225 | -€27,015 | -27.2% |
| Fixed assets | 21/28 | €77,163 | €53,616 | -€23,547 | -30.5% |
| Tangible fixed assets | 22/27 | €77,163 | €53,616 | -€23,547 | -30.5% |
| Plant, machinery and equipment | 23 | €51,142 | €38,436 | -€12,706 | -24.8% |
| Furniture and vehicles | 24 | €18,557 | €9,695 | -€8,862 | -47.8% |
| Other tangible fixed assets | 26 | €7,464 | €5,484 | -€1,980 | -26.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €22,077 | €18,609 | -€3,468 | -15.7% |
| Stocks and contracts in progress | 3 | €4,142 | €8,217 | +€4,075 | +98.4% |
| Stocks | 30/36 | €4,142 | €8,217 | +€4,075 | +98.4% |
| Amounts receivable within one year | 40/41 | €10,835 | €5,666 | -€5,169 | -47.7% |
| Trade receivables | 40 | €9,087 | €5,492 | -€3,595 | -39.6% |
| Other amounts receivable | 41 | €1,748 | €174 | -€1,574 | -90.1% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Deferred charges and accrued income | 490/1 | €7,100 | €4,726 | -€2,374 | -33.4% |
| Total equity and liabilities | 10/49 | €99,240 | €72,225 | -€27,015 | -27.2% |
| Equity | 10/15 | €6,262 | €5,113 | -€1,149 | -18.3% |
| Contributions | 10/11 | €6,200 | €8,060 | +€1,860 | +30.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Profit (loss) carried forward | 14 | -€2,867 | -€3,680 | -€813 | -28.3% |
| Investment grants | 15 | €1,069 | €733 | -€336 | -31.4% |
| Provisions and deferred taxes | 16 | €267 | €183 | -€84 | -31.4% |
| Deferred taxes | 168 | €267 | €183 | -€84 | -31.4% |
| Amounts payable | 17/49 | €92,711 | €66,929 | -€25,783 | -27.8% |
| Amounts payable after more than one year | 17 | €28,752 | €22,664 | -€6,088 | -21.2% |
| Financial debts | 170/4 | €28,752 | €22,664 | -€6,088 | -21.2% |
| Amounts payable within one year | 42/48 | €61,011 | €42,505 | -€18,506 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €12,390 | €6,088 | -€6,302 | -50.9% |
| Financial debts | 43 | €11,636 | €11,954 | +€317 | +2.7% |
| Credit institutions | 430/8 | €11,636 | €11,954 | +€317 | +2.7% |
| Trade debts | 44 | €10,866 | €4,402 | -€6,464 | -59.5% |
| Suppliers | 440/4 | €10,866 | €4,402 | -€6,464 | -59.5% |
| Taxes, remuneration and social security | 45 | €9,212 | €10,122 | +€911 | +9.9% |
| Taxes | 450/3 | €6,312 | €7,222 | +€911 | +14.4% |
| Remuneration and social security | 454/9 | €2,900 | €2,900 | = | 0.0% |
| Other amounts payable | 47/48 | €16,908 | €9,939 | -€6,969 | -41.2% |
| Accrued charges and deferred income | 492/3 | €2,948 | €1,760 | -€1,188 | -40.3% |
| Remuneration, social security and pensions | 62 | €952 | €0 | -€952 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,552 | €30,114 | +€2,562 | +9.3% |
| Other operating charges | 640/8 | €1,438 | €1,946 | +€508 | +35.3% |
| Gross operating margin | 9900 | €37,550 | €35,709 | -€1,841 | -4.9% |
| Operating profit (loss) | 9901 | €7,608 | €3,648 | -€3,960 | -52.0% |
| Financial income | 75/76B | €336 | €647 | +€311 | +92.5% |
| Recurring financial income | 75 | €336 | €647 | +€311 | +92.5% |
| Financial charges | 65/66B | €2,956 | €2,501 | -€455 | -15.4% |
| Recurring financial charges | 65 | €2,956 | €2,501 | -€455 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €4,988 | €1,794 | -€3,194 | -64.0% |
| Transfer from deferred taxes | 780 | €84 | €84 | = | 0.0% |
| Income taxes | 67/77 | - | €2,690 | +€2,690 | |
| Profit (loss) for the period | 9904 | €5,072 | -€813 | -€5,884 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,072 | -€813 | -€5,884 |
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 1 November 2026 via checked.be.