PUTTEVILS VALERE: 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.
PUTTEVILS VALERE
Largest movements
- Cash -€129,353
down €129,353 (-69.8%), from €185,244 to €55,891
mainly Short-term financial debts (-€125,000) and Tax, wage and social debts (-€70,894)
- Tangible fixed assets -€27,003
down €27,003 (-3.1%), from €866,340 to €839,337
of which Leasing and similar rights: -€27,400
- Receivables within one year +€18,249
up €18,249 (+15.2%), from €120,125 to €138,374
of which Other amounts receivable: +€18,807
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Tax, wage and social debts -€70,894
down €70,894 (-75.4%), from €93,982 to €23,088
of which Taxes: -€72,033
- Reserves +€26,631
up €26,631 (+4.3%), from €615,150 to €641,780
of which Distributable reserves: +€26,631
- Trade debts +€22,375
up €22,375 (+5.9%), from €378,615 to €400,990
- Current portion of long-term debt +€22,218
up €22,218 (+61.9%), from €35,890 to €58,108
- Gross operating margin +€15,241
up €15,241 (+12.3%), from €123,468 to €138,708
- Taxes +€8,715
up €8,715 (+147%), from €5,922 to €14,636
- Staff costs -€5,223
down €5,223 (-17.3%), from €30,214 to €24,992
- Depreciation -€3,780
down €3,780 (-6.5%), from €58,340 to €54,560
- Financial charges -€2,391
down €2,391 (-16.8%), from €14,258 to €11,867
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 | €1,371,709 | €1,233,601 | -€138,107 | -10.1% |
| Fixed assets | 21/28 | €866,340 | €839,337 | -€27,003 | -3.1% |
| Tangible fixed assets | 22/27 | €866,340 | €839,337 | -€27,003 | -3.1% |
| Land and buildings | 22 | €726,815 | €717,350 | -€9,466 | -1.3% |
| Plant, machinery and equipment | 23 | €51,005 | €63,728 | +€12,723 | +24.9% |
| Furniture and vehicles | 24 | €3,993 | €1,132 | -€2,861 | -71.6% |
| Leasing and similar rights | 25 | €84,527 | €57,127 | -€27,400 | -32.4% |
| Current assets | 29/58 | €505,368 | €394,265 | -€111,104 | -22.0% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €120,125 | €138,374 | +€18,249 | +15.2% |
| Trade receivables | 40 | €49,783 | €49,225 | -€558 | -1.1% |
| Other amounts receivable | 41 | €70,342 | €89,149 | +€18,807 | +26.7% |
| Cash at bank and in hand | 54/58 | €185,244 | €55,891 | -€129,353 | -69.8% |
| Total equity and liabilities | 10/49 | €1,371,709 | €1,233,601 | -€138,107 | -10.1% |
| Equity | 10/15 | €659,770 | €686,401 | +€26,631 | +4.0% |
| Contributions | 10/11 | €44,621 | €44,621 | = | 0.0% |
| Reserves | 13 | €615,150 | €641,780 | +€26,631 | +4.3% |
| Non-distributable reserves | 130/1 | €4,462 | €4,462 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,462 | €4,462 | = | 0.0% |
| Distributable reserves | 133 | €610,688 | €637,318 | +€26,631 | +4.4% |
| Amounts payable | 17/49 | €711,938 | €547,200 | -€164,738 | -23.1% |
| Amounts payable after more than one year | 17 | €76,253 | €64,179 | -€12,075 | -15.8% |
| Financial debts | 170/4 | €76,253 | €64,179 | -€12,075 | -15.8% |
| Amounts payable within one year | 42/48 | €633,486 | €482,185 | -€151,301 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €35,890 | €58,108 | +€22,218 | +61.9% |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €378,615 | €400,990 | +€22,375 | +5.9% |
| Suppliers | 440/4 | €378,615 | €400,990 | +€22,375 | +5.9% |
| Taxes, remuneration and social security | 45 | €93,982 | €23,088 | -€70,894 | -75.4% |
| Taxes | 450/3 | €92,169 | €20,136 | -€72,033 | -78.2% |
| Remuneration and social security | 454/9 | €1,812 | €2,952 | +€1,139 | +62.9% |
| Accrued charges and deferred income | 492/3 | €2,199 | €836 | -€1,363 | -62.0% |
| Remuneration, social security and pensions | 62 | €30,214 | €24,992 | -€5,223 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,340 | €54,560 | -€3,780 | -6.5% |
| Other operating charges | 640/8 | €7,064 | €6,069 | -€996 | -14.1% |
| Gross operating margin | 9900 | €123,468 | €138,708 | +€15,241 | +12.3% |
| Operating profit (loss) | 9901 | €27,848 | €53,088 | +€25,240 | +90.6% |
| Financial income | 75/76B | €13 | €47 | +€34 | +265% |
| Recurring financial income | 75 | €13 | €47 | +€34 | +265% |
| Financial charges | 65/66B | €14,258 | €11,867 | -€2,391 | -16.8% |
| Recurring financial charges | 65 | €14,258 | €11,867 | -€2,391 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €13,603 | €41,267 | +€27,664 | +203% |
| Income taxes | 67/77 | €5,922 | €14,636 | +€8,715 | +147% |
| Profit (loss) for the period | 9904 | €7,681 | €26,631 | +€18,949 | +247% |
| Profit (loss) for the period to be appropriated | 9905 | €7,681 | €26,631 | +€18,949 | +247% |
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 25 October 2026 via checked.be.