LES VALLEES: 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.
LES VALLEES
Largest movements
- Receivables within one year +€62,890
up €62,890 (+24.1%), from €260,561 to €323,451
of which Trade receivables: +€51,315
- Tangible fixed assets +€32,193
up €32,193 (+7.6%), from €421,119 to €453,312
of which Plant, machinery and equipment: +€36,637
- Cash +€16,417
up €16,417 (+4025.7%), from €408 to €16,825
mainly Other debts (+€77,573) and Depreciation (+€70,204)
- Other debts +€77,573
up €77,573 (+37.8%), from €205,116 to €282,689
- Trade debts +€33,753
up €33,753 (+82.6%), from €40,852 to €74,605
- Profit (loss) carried forward -€21,671
down €21,671, from €1,185 to -€20,486
- Debts after one year +€10,214
up €10,214 (+3.1%), from €328,928 to €339,142
- Current portion of long-term debt +€10,000
up €10,000 (+20.1%), from €49,786 to €59,786
- Purchases and services +€88,252
up €88,252 (+49.8%), from €177,137 to €265,389
- Turnover +€67,413
up €67,413 (+25.8%), from €260,874 to €328,286
- Gross operating margin -€20,181
down €20,181 (-24.1%), from €83,737 to €63,555
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 | €694,067 | €803,936 | +€109,869 | +15.8% |
| Fixed assets | 21/28 | €421,119 | €453,312 | +€32,193 | +7.6% |
| Tangible fixed assets | 22/27 | €421,119 | €453,312 | +€32,193 | +7.6% |
| Land and buildings | 22 | €32,790 | €28,346 | -€4,444 | -13.6% |
| Plant, machinery and equipment | 23 | €388,329 | €424,966 | +€36,637 | +9.4% |
| Current assets | 29/58 | €272,947 | €350,624 | +€77,676 | +28.5% |
| Stocks and contracts in progress | 3 | €3,002 | €1,497 | -€1,505 | -50.1% |
| Stocks | 30/36 | €3,002 | €1,497 | -€1,505 | -50.1% |
| Amounts receivable within one year | 40/41 | €260,561 | €323,451 | +€62,890 | +24.1% |
| Trade receivables | 40 | €254,949 | €306,264 | +€51,315 | +20.1% |
| Other amounts receivable | 41 | €5,612 | €17,187 | +€11,575 | +206.2% |
| Cash at bank and in hand | 54/58 | €408 | €16,825 | +€16,417 | +4025.7% |
| Deferred charges and accrued income | 490/1 | €8,977 | €8,851 | -€126 | -1.4% |
| Total equity and liabilities | 10/49 | €694,067 | €803,936 | +€109,869 | +15.8% |
| Equity | 10/15 | €69,385 | €47,714 | -€21,671 | -31.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,185 | -€20,486 | -€21,671 | |
| Amounts payable | 17/49 | €624,682 | €756,222 | +€131,540 | +21.1% |
| Amounts payable after more than one year | 17 | €328,928 | €339,142 | +€10,214 | +3.1% |
| Financial debts | 170/4 | €328,928 | €339,142 | +€10,214 | +3.1% |
| Amounts payable within one year | 42/48 | €295,754 | €417,080 | +€121,326 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €49,786 | €59,786 | +€10,000 | +20.1% |
| Trade debts | 44 | €40,852 | €74,605 | +€33,753 | +82.6% |
| Suppliers | 440/4 | €40,852 | €74,605 | +€33,753 | +82.6% |
| Other amounts payable | 47/48 | €205,116 | €282,689 | +€77,573 | +37.8% |
| Turnover | 70 | €260,874 | €328,286 | +€67,413 | +25.8% |
| Non-recurring operating income | 76A | - | €657 | +€657 | |
| Goods, raw materials, services and sundry goods | 60/61 | €177,137 | €265,389 | +€88,252 | +49.8% |
| Remuneration, social security and pensions | 62 | €208 | - | -€208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,857 | €70,204 | +€2,347 | +3.5% |
| Other operating charges | 640/8 | €419 | €2,513 | +€2,094 | +499.1% |
| Gross operating margin | 9900 | €83,737 | €63,555 | -€20,181 | -24.1% |
| Operating profit (loss) | 9901 | €15,252 | -€9,162 | -€24,414 | |
| Financial charges | 65/66B | €14,077 | €12,509 | -€1,568 | -11.1% |
| Recurring financial charges | 65 | €14,077 | €12,509 | -€1,568 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €1,175 | -€21,671 | -€22,846 | |
| Profit (loss) for the period | 9904 | €1,175 | -€21,671 | -€22,846 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,175 | -€21,671 | -€22,846 |
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 11 October 2026 via checked.be.