Le Val-duc: what changed
Two fiscal 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-duc
Largest movements
- Receivables within one year +€43,309
up €43,309 (+14145.5%), from €306 to €43,616
of which Trade receivables: +€43,439
- Tangible fixed assets -€23,450
down €23,450 (-6.9%), from €338,529 to €315,079
of which Land and buildings: -€20,511
- Cash -€12,484
down €12,484 (-45.5%), from €27,435 to €14,952
mainly Receivables within one year (-€43,309) and Debts after one year (-€16,137)
- Debts after one year -€16,137
down €16,137 (-14.5%), from €111,632 to €95,495
- Tax, wage and social debts +€10,973
up €10,973 (+60.6%), from €18,110 to €29,082
of which Taxes: +€13,881
- Profit (loss) carried forward +€8,547
up €8,547 (+57.2%), from -€14,950 to -€6,403
- Other debts +€5,134
up €5,134 (+2.5%), from €203,468 to €208,602
- Gross operating margin +€21,531
up €21,531 (+7.8%), from €274,769 to €296,300
- Staff costs +€7,240
up €7,240 (+3.2%), from €223,423 to €230,663
- Depreciation +€3,329
up €3,329 (+10.0%), from €33,396 to €36,725
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €376,931 | €386,146 | +€9,216 | +2.4% |
| Fixed assets | 21/28 | €338,529 | €315,079 | -€23,450 | -6.9% |
| Tangible fixed assets | 22/27 | €338,529 | €315,079 | -€23,450 | -6.9% |
| Land and buildings | 22 | €283,220 | €262,709 | -€20,511 | -7.2% |
| Plant, machinery and equipment | 23 | €20,031 | €24,444 | +€4,412 | +22.0% |
| Furniture and vehicles | 24 | €971 | €2,638 | +€1,667 | +171.6% |
| Other tangible fixed assets | 26 | €34,307 | €25,289 | -€9,018 | -26.3% |
| Current assets | 29/58 | €38,402 | €71,067 | +€32,666 | +85.1% |
| Stocks and contracts in progress | 3 | €10,660 | €12,500 | +€1,840 | +17.3% |
| Stocks | 30/36 | €10,660 | €12,500 | +€1,840 | +17.3% |
| Amounts receivable within one year | 40/41 | €306 | €43,616 | +€43,309 | +14145.5% |
| Trade receivables | 40 | - | €43,439 | +€43,439 | |
| Other amounts receivable | 41 | €306 | €177 | -€129 | -42.2% |
| Cash at bank and in hand | 54/58 | €27,435 | €14,952 | -€12,484 | -45.5% |
| Total equity and liabilities | 10/49 | €376,931 | €386,146 | +€9,216 | +2.4% |
| Equity | 10/15 | €31,409 | €39,956 | +€8,547 | +27.2% |
| Reserves | 13 | €46,359 | €46,359 | = | 0.0% |
| Distributable reserves | 133 | €46,359 | €46,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,950 | -€6,403 | +€8,547 | +57.2% |
| Amounts payable | 17/49 | €345,522 | €346,191 | +€669 | +0.2% |
| Amounts payable after more than one year | 17 | €111,632 | €95,495 | -€16,137 | -14.5% |
| Financial debts | 170/4 | €111,632 | €95,495 | -€16,137 | -14.5% |
| Amounts payable within one year | 42/48 | €233,890 | €250,696 | +€16,806 | +7.2% |
| Trade debts | 44 | €12,312 | €13,011 | +€699 | +5.7% |
| Suppliers | 440/4 | €12,312 | €13,011 | +€699 | +5.7% |
| Taxes, remuneration and social security | 45 | €18,110 | €29,082 | +€10,973 | +60.6% |
| Taxes | 450/3 | €643 | €14,525 | +€13,881 | +2158.4% |
| Remuneration and social security | 454/9 | €17,467 | €14,558 | -€2,909 | -16.7% |
| Other amounts payable | 47/48 | €203,468 | €208,602 | +€5,134 | +2.5% |
| Remuneration, social security and pensions | 62 | €223,423 | €230,663 | +€7,240 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,396 | €36,725 | +€3,329 | +10.0% |
| Other operating charges | 640/8 | €761 | €785 | +€24 | +3.1% |
| Gross operating margin | 9900 | €274,769 | €296,300 | +€21,531 | +7.8% |
| Operating profit (loss) | 9901 | €17,188 | €28,126 | +€10,938 | +63.6% |
| Financial income | 75/76B | €122 | €62 | -€61 | -49.5% |
| Recurring financial income | 75 | €122 | €62 | -€61 | -49.5% |
| Financial charges | 65/66B | €16,803 | €19,641 | +€2,838 | +16.9% |
| Recurring financial charges | 65 | €16,803 | €19,641 | +€2,838 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €508 | €8,547 | +€8,039 | +1583.1% |
| Profit (loss) for the period | 9904 | €508 | €8,547 | +€8,039 | +1583.1% |
| Profit (loss) for the period to be appropriated | 9905 | €508 | €8,547 | +€8,039 | +1583.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.