VAL 33: what changed
Two fiscal 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.
What changed
VAL 33
NACE 91.210, Libraries, archives, museums and other cultural activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€24,211
2024 · €83,110-€58,899
Equity
€2.2m
2024 · €2.1m+€61,943
Cash
€74,175
2024 · €16,376+€57,799
Balance sheet total
€3.1m
2024 · €3.2m-€113,175
Largest movements
Assets
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Tangible fixed assets -€82,799
down €82,799 (-2.7%), from €3.0m to €2.9m
of which Land and buildings: -€85,743
- Cash +€57,799
up €57,799 (+352.9%), from €16,376 to €74,175
mainly Depreciation (+€167,604) and Current investments (+€125,000)
Equity and liabilities
- Other debts -€85,032
down €85,032 (-31.6%), from €268,956 to €183,924
- Accrued charges and deferred income -€67,922
no longer reported in 2025 (was €67,922)
- Investment grants +€37,733
up €37,733 (+3.6%), from €1.1m to €1.1m
Income statement
- Gross operating margin -€57,143
down €57,143 (-29.5%), from €193,921 to €136,779
- Taxes -€14,591
down €14,591 (-55.5%), from €26,280 to €11,689
- Depreciation +€11,002
up €11,002 (+7.0%), from €156,602 to €167,604
- Financial income -€2,713
down €2,713 (-3.6%), from €75,920 to €73,207
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.
Result 2024
€83,110
Gross operating margin
-€57,143
Depreciation
-€11,002
Other operating charges
-€1,796
Financial income
-€2,713
Financial charges
-€1,580
Taxes
+€14,591
Deferred taxes and other
+€743
Result 2025
€24,211
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.
From operations
+€3,625
Investment
+€37,591
Financing
+€16,583
Cash 2024
€16,376
From operations (derived)
+€3,625
Net result for the year
+€24,211
Depreciation
+€167,604
Stocks and contracts
-€21,074
Receivables within one year
-€3,858
Deferred charges and accrued income
-€9,289
Provisions
+€12,332
Tax, wage and social debts
-€13,346
Other debts
-€85,032
Accrued charges and deferred income
-€67,922
Investment (derived)
+€37,591
Investment in fixed assets (net)
-€87,409
Current investments
+€125,000
Financing
+€16,583
Debts after one year
-€21,705
Current portion of long-term debt
+€556
Contributions, distributions and other
+€37,733
Cash 2025
€74,175
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,213,321 | €3,100,147 | -€113,175 | -3.5% |
| Fixed assets | 21/28 | €3,027,636 | €2,947,441 | -€80,195 | -2.6% |
| Intangible fixed assets | 21 | €207 | €2,811 | +€2,604 | +1259.4% |
| Tangible fixed assets | 22/27 | €3,027,429 | €2,944,630 | -€82,799 | -2.7% |
| Land and buildings | 22 | €2,849,958 | €2,764,215 | -€85,743 | -3.0% |
| Plant, machinery and equipment | 23 | €124,099 | €116,385 | -€7,714 | -6.2% |
| Furniture and vehicles | 24 | €53,371 | €37,530 | -€15,841 | -29.7% |
| Other tangible fixed assets | 26 | - | €26,500 | +€26,500 | |
| Current assets | 29/58 | €185,686 | €152,706 | -€32,980 | -17.8% |
| Stocks and contracts in progress | 3 | €11,851 | €32,925 | +€21,074 | +177.8% |
| Stocks | 30/36 | €11,851 | €32,925 | +€21,074 | +177.8% |
| Amounts receivable within one year | 40/41 | €29,991 | €33,849 | +€3,858 | +12.9% |
| Trade receivables | 40 | €29,953 | €33,166 | +€3,213 | +10.7% |
| Other amounts receivable | 41 | €37 | €683 | +€646 | +1729.9% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €16,376 | €74,175 | +€57,799 | +352.9% |
| Deferred charges and accrued income | 490/1 | €2,469 | €11,758 | +€9,289 | +376.3% |
| Total equity and liabilities | 10/49 | €3,213,321 | €3,100,147 | -€113,175 | -3.5% |
| Equity | 10/15 | €2,108,588 | €2,170,531 | +€61,943 | +2.9% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €390,825 | €420,295 | +€29,470 | +7.5% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €29,470 | +€29,470 | |
| Distributable reserves | 133 | €340,825 | €340,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,784 | €152,524 | -€5,259 | -3.3% |
| Investment grants | 15 | €1,059,980 | €1,097,712 | +€37,733 | +3.6% |
| Provisions and deferred taxes | 16 | €353,661 | €365,993 | +€12,332 | +3.5% |
| Deferred taxes | 168 | €353,661 | €365,993 | +€12,332 | +3.5% |
| Amounts payable | 17/49 | €751,072 | €563,623 | -€187,449 | -25.0% |
| Amounts payable after more than one year | 17 | €363,184 | €341,478 | -€21,705 | -6.0% |
| Financial debts | 170/4 | €363,184 | €341,478 | -€21,705 | -6.0% |
| Amounts payable within one year | 42/48 | €319,967 | €222,145 | -€97,822 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €21,149 | €21,705 | +€556 | +2.6% |
| Taxes, remuneration and social security | 45 | €29,861 | €16,515 | -€13,346 | -44.7% |
| Taxes | 450/3 | €29,861 | €16,515 | -€13,346 | -44.7% |
| Other amounts payable | 47/48 | €268,956 | €183,924 | -€85,032 | -31.6% |
| Accrued charges and deferred income | 492/3 | €67,922 | - | -€67,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,602 | €167,604 | +€11,002 | +7.0% |
| Other operating charges | 640/8 | €10,332 | €12,128 | +€1,796 | +17.4% |
| Gross operating margin | 9900 | €193,921 | €136,779 | -€57,143 | -29.5% |
| Operating profit (loss) | 9901 | €26,988 | -€42,953 | -€69,941 | |
| Financial income | 75/76B | €75,920 | €73,207 | -€2,713 | -3.6% |
| Recurring financial income | 75 | €75,920 | €73,207 | -€2,713 | -3.6% |
| Financial charges | 65/66B | €16,670 | €18,250 | +€1,580 | +9.5% |
| Recurring financial charges | 65 | €16,670 | €18,250 | +€1,580 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €86,238 | €12,005 | -€74,233 | -86.1% |
| Transfer from deferred taxes | 780 | €23,152 | €23,894 | +€743 | +3.2% |
| Income taxes | 67/77 | €26,280 | €11,689 | -€14,591 | -55.5% |
| Profit (loss) for the period | 9904 | €83,110 | €24,211 | -€58,899 | -70.9% |
| Transfer to tax-exempt reserves | 689 | - | €29,470 | +€29,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,110 | -€5,259 | -€88,369 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.