STEENHOUWERIJ VALCK: 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.
STEENHOUWERIJ VALCK
Largest movements
- Cash -€80,092
down €80,092 (-77.6%), from €103,169 to €23,077
mainly Debts after one year (-€67,055) and Tax, wage and social debts (-€32,120)
- Tangible fixed assets -€21,358
down €21,358 (-6.5%), from €327,849 to €306,491
of which Land and buildings: -€19,193
- Deferred charges and accrued income +€12,299
up €12,299 (+21,668%), from €57 to €12,356
- Receivables within one year +€10,279
up €10,279 (+7.5%), from €136,944 to €147,224
of which Other amounts receivable: +€8,743
- Debts after one year -€67,055
down €67,055 (-39.6%), from €169,441 to €102,386
- Reserves +€38,744
up €38,744 (+17.0%), from €228,440 to €267,184
- Tax, wage and social debts -€32,120
down €32,120 (-72.1%), from €44,574 to €12,454
of which Taxes: -€31,652
- Trade debts -€25,978
down €25,978 (-35.7%), from €72,737 to €46,759
- Short-term financial debts +€8,333
up €8,333, from €0 to €8,333
- Gross operating margin -€85,829
down €85,829 (-33.4%), from €256,910 to €171,082
- Staff costs -€45,455
down €45,455 (-37.8%), from €120,349 to €74,894
- Taxes -€9,690
down €9,690 (-39.5%), from €24,514 to €14,824
- Write-downs +€3,146
new in 2025: €3,146
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 | €686,319 | €610,467 | -€75,852 | -11.1% |
| Fixed assets | 21/28 | €328,009 | €306,651 | -€21,358 | -6.5% |
| Tangible fixed assets | 22/27 | €327,849 | €306,491 | -€21,358 | -6.5% |
| Land and buildings | 22 | €316,172 | €296,979 | -€19,193 | -6.1% |
| Plant, machinery and equipment | 23 | €11,677 | €9,512 | -€2,165 | -18.5% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €358,310 | €303,816 | -€54,494 | -15.2% |
| Stocks and contracts in progress | 3 | €118,140 | €121,160 | +€3,020 | +2.6% |
| Stocks | 30/36 | €118,140 | €121,160 | +€3,020 | +2.6% |
| Amounts receivable within one year | 40/41 | €136,944 | €147,224 | +€10,279 | +7.5% |
| Trade receivables | 40 | €84,460 | €85,996 | +€1,536 | +1.8% |
| Other amounts receivable | 41 | €52,484 | €61,228 | +€8,743 | +16.7% |
| Cash at bank and in hand | 54/58 | €103,169 | €23,077 | -€80,092 | -77.6% |
| Deferred charges and accrued income | 490/1 | €57 | €12,356 | +€12,299 | +21,668% |
| Total equity and liabilities | 10/49 | €686,319 | €610,467 | -€75,852 | -11.1% |
| Equity | 10/15 | €334,735 | €373,479 | +€38,744 | +11.6% |
| Contributions | 10/11 | €32,722 | €32,722 | = | 0.0% |
| Reserves | 13 | €228,440 | €267,184 | +€38,744 | +17.0% |
| Distributable reserves | 133 | €228,440 | €267,184 | +€38,744 | +17.0% |
| Profit (loss) carried forward | 14 | €73,573 | €73,573 | = | 0.0% |
| Amounts payable | 17/49 | €351,584 | €236,988 | -€114,596 | -32.6% |
| Amounts payable after more than one year | 17 | €169,441 | €102,386 | -€67,055 | -39.6% |
| Financial debts | 170/4 | €169,441 | €102,386 | -€67,055 | -39.6% |
| Amounts payable within one year | 42/48 | €182,143 | €134,602 | -€47,541 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €64,831 | €67,055 | +€2,224 | +3.4% |
| Financial debts | 43 | €0 | €8,333 | +€8,333 | |
| Credit institutions | 430/8 | €0 | €8,333 | +€8,333 | |
| Trade debts | 44 | €72,737 | €46,759 | -€25,978 | -35.7% |
| Suppliers | 440/4 | €72,737 | €46,759 | -€25,978 | -35.7% |
| Taxes, remuneration and social security | 45 | €44,574 | €12,454 | -€32,120 | -72.1% |
| Taxes | 450/3 | €41,423 | €9,771 | -€31,652 | -76.4% |
| Remuneration and social security | 454/9 | €3,151 | €2,683 | -€469 | -14.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €120,349 | €74,894 | -€45,455 | -37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,187 | €25,881 | +€694 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,146 | +€3,146 | |
| Other operating charges | 640/8 | €6,472 | €6,503 | +€31 | +0.5% |
| Non-recurring operating charges | 66A | €14,177 | €0 | -€14,177 | -100% |
| Gross operating margin | 9900 | €256,910 | €171,082 | -€85,829 | -33.4% |
| Operating profit (loss) | 9901 | €90,726 | €60,658 | -€30,068 | -33.1% |
| Financial income | 75/76B | €210 | €0 | -€210 | -100% |
| Recurring financial income | 75 | €210 | €0 | -€210 | -100% |
| Financial charges | 65/66B | €9,604 | €7,090 | -€2,514 | -26.2% |
| Recurring financial charges | 65 | €9,604 | €7,090 | -€2,514 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €81,332 | €53,568 | -€27,764 | -34.1% |
| Income taxes | 67/77 | €24,514 | €14,824 | -€9,690 | -39.5% |
| Profit (loss) for the period | 9904 | €56,818 | €38,744 | -€18,074 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,818 | €38,744 | -€18,074 | -31.8% |
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.