M. VALVES CONSULTING: 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.
M. VALVES CONSULTING
Largest movements
- Cash +€140,332
up €140,332 (+71.4%), from €196,564 to €336,896
mainly Net result for the year (+€164,119) and Debts after one year (+€159,444)
- Tangible fixed assets -€64,151
down €64,151 (-12.2%), from €525,901 to €461,751
of which Land and buildings: -€55,543
- Receivables within one year +€47,644
up €47,644 (+23.3%), from €204,791 to €252,435
of which Other amounts receivable: +€56,056
- Debts after one year +€159,444
up €159,444 (+43.0%), from €370,689 to €530,134
- Short-term financial debts -€153,890
down €153,890 (-81.4%), from €189,038 to €35,148
- Current portion of long-term debt +€79,681
up €79,681 (+178%), from €44,726 to €124,407
- Trade debts +€22,094
up €22,094 (+74.0%), from €29,850 to €51,944
- Profit (loss) carried forward +€14,119
up €14,119 (+28.1%), from €50,279 to €64,397
- Gross operating margin +€94,170
up €94,170 (+41.6%), from €226,342 to €320,511
- Taxes +€25,463
up €25,463 (+75.5%), from €33,741 to €59,204
- Financial charges -€8,135
down €8,135 (-27.0%), from €30,182 to €22,048
- Other operating charges -€4,438
down €4,438 (-22.9%), from €19,418 to €14,979
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 | €984,361 | €1,102,190 | +€117,829 | +12.0% |
| Fixed assets | 21/28 | €525,901 | €461,751 | -€64,151 | -12.2% |
| Tangible fixed assets | 22/27 | €525,901 | €461,751 | -€64,151 | -12.2% |
| Land and buildings | 22 | €510,245 | €454,702 | -€55,543 | -10.9% |
| Plant, machinery and equipment | 23 | €4,826 | €5,908 | +€1,083 | +22.4% |
| Furniture and vehicles | 24 | €10,830 | €1,140 | -€9,690 | -89.5% |
| Current assets | 29/58 | €458,460 | €640,439 | +€181,980 | +39.7% |
| Stocks and contracts in progress | 3 | €56,887 | €50,000 | -€6,887 | -12.1% |
| Stocks | 30/36 | €22,840 | €0 | -€22,840 | -100% |
| Contracts in progress | 37 | €34,047 | €50,000 | +€15,953 | +46.9% |
| Amounts receivable within one year | 40/41 | €204,791 | €252,435 | +€47,644 | +23.3% |
| Trade receivables | 40 | €164,350 | €155,938 | -€8,412 | -5.1% |
| Other amounts receivable | 41 | €40,441 | €96,497 | +€56,056 | +139% |
| Cash at bank and in hand | 54/58 | €196,564 | €336,896 | +€140,332 | +71.4% |
| Deferred charges and accrued income | 490/1 | €218 | €1,108 | +€891 | +409% |
| Total equity and liabilities | 10/49 | €984,361 | €1,102,190 | +€117,829 | +12.0% |
| Equity | 10/15 | €196,365 | €210,484 | +€14,119 | +7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,487 | €127,487 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €125,627 | €127,487 | +€1,860 | +1.5% |
| Profit (loss) carried forward | 14 | €50,279 | €64,397 | +€14,119 | +28.1% |
| Amounts payable | 17/49 | €787,996 | €891,706 | +€103,710 | +13.2% |
| Amounts payable after more than one year | 17 | €370,689 | €530,134 | +€159,444 | +43.0% |
| Financial debts | 170/4 | €370,689 | €530,134 | +€159,444 | +43.0% |
| Amounts payable within one year | 42/48 | €417,306 | €361,573 | -€55,734 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €44,726 | €124,407 | +€79,681 | +178% |
| Financial debts | 43 | €189,038 | €35,148 | -€153,890 | -81.4% |
| Credit institutions | 430/8 | €189,038 | €35,148 | -€153,890 | -81.4% |
| Trade debts | 44 | €29,850 | €51,944 | +€22,094 | +74.0% |
| Suppliers | 440/4 | €29,850 | €51,944 | +€22,094 | +74.0% |
| Taxes, remuneration and social security | 45 | €3,692 | €74 | -€3,619 | -98.0% |
| Taxes | 450/3 | €3,692 | €74 | -€3,619 | -98.0% |
| Other amounts payable | 47/48 | €150,000 | €150,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,528 | €60,238 | -€2,289 | -3.7% |
| Other operating charges | 640/8 | €19,418 | €14,979 | -€4,438 | -22.9% |
| Gross operating margin | 9900 | €226,342 | €320,511 | +€94,170 | +41.6% |
| Operating profit (loss) | 9901 | €144,396 | €245,294 | +€100,897 | +69.9% |
| Financial income | 75/76B | €173 | €77 | -€96 | -55.6% |
| Recurring financial income | 75 | €173 | €77 | -€96 | -55.6% |
| Financial charges | 65/66B | €30,182 | €22,048 | -€8,135 | -27.0% |
| Recurring financial charges | 65 | €30,182 | €22,048 | -€8,135 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €114,387 | €223,323 | +€108,936 | +95.2% |
| Income taxes | 67/77 | €33,741 | €59,204 | +€25,463 | +75.5% |
| Profit (loss) for the period | 9904 | €80,646 | €164,119 | +€83,472 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €80,646 | €164,119 | +€83,472 | +104% |
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 31 October 2026 via checked.be.