LE VAL THULIN: 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 THULIN
Largest movements
- Tangible fixed assets -€11,126
down €11,126 (-5.3%), from €210,445 to €199,319
of which Land and buildings: -€6,350
- Debts after one year -€15,122
down €15,122 (-9.8%), from €154,456 to €139,334
- Profit (loss) carried forward +€11,705
up €11,705 (+75.2%), from -€15,564 to -€3,859
- Current portion of long-term debt -€7,151
down €7,151 (-32.1%), from €22,273 to €15,122
- Depreciation -€3,527
down €3,527 (-24.1%), from €14,653 to €11,126
- Gross operating margin -€2,042
down €2,042 (-7.0%), from €29,292 to €27,249
- Financial charges -€626
down €626 (-15.1%), from €4,144 to €3,518
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 | €218,795 | €206,499 | -€12,296 | -5.6% |
| Fixed assets | 21/28 | €210,445 | €199,319 | -€11,126 | -5.3% |
| Tangible fixed assets | 22/27 | €210,445 | €199,319 | -€11,126 | -5.3% |
| Land and buildings | 22 | €205,669 | €199,319 | -€6,350 | -3.1% |
| Plant, machinery and equipment | 23 | €4,776 | - | -€4,776 | |
| Current assets | 29/58 | €8,350 | €7,180 | -€1,170 | -14.0% |
| Stocks and contracts in progress | 3 | €656 | €324 | -€332 | -50.6% |
| Stocks | 30/36 | €656 | €324 | -€332 | -50.6% |
| Amounts receivable within one year | 40/41 | €991 | €472 | -€519 | -52.4% |
| Trade receivables | 40 | €336 | €435 | +€99 | +29.5% |
| Other amounts receivable | 41 | €656 | €38 | -€618 | -94.3% |
| Cash at bank and in hand | 54/58 | €5,952 | €5,569 | -€382 | -6.4% |
| Deferred charges and accrued income | 490/1 | €751 | €815 | +€63 | +8.4% |
| Total equity and liabilities | 10/49 | €218,795 | €206,499 | -€12,296 | -5.6% |
| Equity | 10/15 | €24,436 | €36,141 | +€11,705 | +47.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,564 | -€3,859 | +€11,705 | +75.2% |
| Amounts payable | 17/49 | €194,359 | €170,358 | -€24,001 | -12.3% |
| Amounts payable after more than one year | 17 | €154,456 | €139,334 | -€15,122 | -9.8% |
| Financial debts | 170/4 | €154,456 | €139,334 | -€15,122 | -9.8% |
| Amounts payable within one year | 42/48 | €39,903 | €31,024 | -€8,879 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €22,273 | €15,122 | -€7,151 | -32.1% |
| Trade debts | 44 | €1,320 | €1,377 | +€57 | +4.3% |
| Suppliers | 440/4 | €1,320 | €1,377 | +€57 | +4.3% |
| Advances received on contracts in progress | 46 | €8,310 | €6,525 | -€1,785 | -21.5% |
| Other amounts payable | 47/48 | €8,000 | €8,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,653 | €11,126 | -€3,527 | -24.1% |
| Other operating charges | 640/8 | €820 | €921 | +€101 | +12.3% |
| Gross operating margin | 9900 | €29,292 | €27,249 | -€2,042 | -7.0% |
| Operating profit (loss) | 9901 | €13,818 | €15,202 | +€1,384 | +10.0% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €4,144 | €3,518 | -€626 | -15.1% |
| Recurring financial charges | 65 | €4,144 | €3,518 | -€626 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €9,674 | €11,705 | +€2,031 | +21.0% |
| Profit (loss) for the period | 9904 | €9,674 | €11,705 | +€2,031 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,674 | €11,705 | +€2,031 | +21.0% |
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 17 October 2026 via checked.be.