VAL BIJOUX: 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.
What changed
VAL BIJOUX
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€843,359
2024 · €594,433+€248,927
Equity
€2.3m
2024 · €1.4m+€840,883
Cash
€496,250
2024 · €524,937-€28,686
Balance sheet total
€3.8m
2024 · €2.5m+€1.3m
Largest movements
Assets
- Current investments +€743,285
up €743,285 (+76.9%), from €966,218 to €1.7m
- Receivables after one year +€600,900
new in 2025: €600,900
Equity and liabilities
- Profit (loss) carried forward +€843,359
up €843,359 (+61.2%), from €1.4m to €2.2m
- Short-term financial debts +€595,158
new in 2025: €595,158
- Trade debts -€124,540
down €124,540 (-57.2%), from €217,827 to €93,287
- Other debts +€72,496
up €72,496 (+1,603%), from €4,522 to €77,018
- Current portion of long-term debt -€59,399
down €59,399 (-36.8%), from €161,426 to €102,027
Income statement
- Financial income +€198,598
up €198,598 (+83.8%), from €236,907 to €435,504
- Financial charges -€116,961
down €116,961 (-64.4%), from €181,720 to €64,759
of which Financial charges: -€116,751
- Gross operating margin -€88,520
down €88,520 (-3.6%), from €2.4m to €2.3m
- Provisions -€36,215
new in 2025: -€36,215
- Taxes +€35,977
up €35,977 (+13.8%), from €261,602 to €297,579
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
€594,433
Gross operating margin
-€88,520
Staff costs
-€3,918
Depreciation
+€32,573
Provisions
+€36,215
Other operating charges
-€7,003
Financial income
+€198,598
Financial charges
+€116,961
Taxes
-€35,977
Result 2025
€843,359
raises the resultlowers the result
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.
From operations
+€224,138
Investment
-€759,657
Financing
+€506,832
Cash 2024
€524,937
From operations (derived)
+€224,138
Net result for the year
+€843,359
Depreciation
+€42,148
Receivables after one year
-€600,900
Receivables within one year
+€16,651
Deferred charges and accrued income
-€1,056
Provisions
-€36,215
Trade debts
-€124,540
Tax, wage and social debts
+€8,290
Other debts
+€72,496
Accrued charges and deferred income
+€3,904
Investment (derived)
-€759,657
Investment in fixed assets (net)
-€16,372
Current investments
-€743,285
Financing
+€506,832
Debts after one year
-€26,451
Current portion of long-term debt
-€59,399
Short-term financial debts
+€595,158
Contributions, distributions and other
-€2,476
Cash 2025
€496,250
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,519,467 | €3,793,595 | +€1.3m | +50.6% |
| Fixed assets | 21/28 | €470,530 | €444,753 | -€25,776 | -5.5% |
| Intangible fixed assets | 21 | €40,275 | €28,206 | -€12,069 | -30.0% |
| Tangible fixed assets | 22/27 | €429,355 | €416,397 | -€12,958 | -3.0% |
| Land and buildings | 22 | €346,998 | €336,338 | -€10,660 | -3.1% |
| Plant, machinery and equipment | 23 | €6,406 | €3,872 | -€2,534 | -39.6% |
| Furniture and vehicles | 24 | €38,806 | €39,464 | +€658 | +1.7% |
| Other tangible fixed assets | 26 | €37,144 | €36,722 | -€422 | -1.1% |
| Financial fixed assets | 28 | €900 | €150 | -€750 | -83.3% |
| Current assets | 29/58 | €2,048,938 | €3,348,842 | +€1.3m | +63.4% |
| Amounts receivable after more than one year | 29 | - | €600,900 | +€600,900 | |
| Other amounts receivable | 291 | - | €600,900 | +€600,900 | |
| Amounts receivable within one year | 40/41 | €418,825 | €402,174 | -€16,651 | -4.0% |
| Trade receivables | 40 | €33,156 | €156,307 | +€123,151 | +371% |
| Other amounts receivable | 41 | €385,669 | €245,868 | -€139,802 | -36.2% |
| Current investments | 50/53 | €966,218 | €1,709,504 | +€743,285 | +76.9% |
| Cash at bank and in hand | 54/58 | €524,937 | €496,250 | -€28,686 | -5.5% |
| Deferred charges and accrued income | 490/1 | €138,958 | €140,014 | +€1,056 | +0.8% |
| Total equity and liabilities | 10/49 | €2,519,467 | €3,793,595 | +€1.3m | +50.6% |
| Equity | 10/15 | €1,410,935 | €2,251,818 | +€840,883 | +59.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,378,383 | €2,221,742 | +€843,359 | +61.2% |
| Investment grants | 15 | €10,552 | €8,076 | -€2,476 | -23.5% |
| Provisions and deferred taxes | 16 | €36,215 | €0 | -€36,215 | -100% |
| Provisions for liabilities and charges | 160/5 | €36,215 | €0 | -€36,215 | -100% |
| Other liabilities and charges | 164/5 | €36,215 | €0 | -€36,215 | -100% |
| Amounts payable | 17/49 | €1,072,318 | €1,541,777 | +€469,459 | +43.8% |
| Amounts payable after more than one year | 17 | €119,380 | €92,929 | -€26,451 | -22.2% |
| Financial debts | 170/4 | €119,380 | €92,929 | -€26,451 | -22.2% |
| Amounts payable within one year | 42/48 | €951,156 | €1,443,162 | +€492,006 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €161,426 | €102,027 | -€59,399 | -36.8% |
| Financial debts | 43 | - | €595,158 | +€595,158 | |
| Credit institutions | 430/8 | - | €595,158 | +€595,158 | |
| Trade debts | 44 | €217,827 | €93,287 | -€124,540 | -57.2% |
| Suppliers | 440/4 | €217,827 | €93,287 | -€124,540 | -57.2% |
| Taxes, remuneration and social security | 45 | €567,381 | €575,671 | +€8,290 | +1.5% |
| Taxes | 450/3 | €365,686 | €390,213 | +€24,526 | +6.7% |
| Remuneration and social security | 454/9 | €201,695 | €185,459 | -€16,236 | -8.0% |
| Other amounts payable | 47/48 | €4,522 | €77,018 | +€72,496 | +1,603% |
| Accrued charges and deferred income | 492/3 | €1,781 | €5,686 | +€3,904 | +219% |
| Remuneration, social security and pensions | 62 | €1,544,106 | €1,548,024 | +€3,918 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,721 | €42,148 | -€32,573 | -43.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€36,215 | -€36,215 | |
| Other operating charges | 640/8 | €11,701 | €18,704 | +€7,003 | +59.9% |
| Gross operating margin | 9900 | €2,431,375 | €2,342,855 | -€88,520 | -3.6% |
| Operating profit (loss) | 9901 | €800,847 | €770,193 | -€30,654 | -3.8% |
| Financial income | 75/76B | €236,907 | €435,504 | +€198,598 | +83.8% |
| Recurring financial income | 75 | €236,907 | €435,504 | +€198,598 | +83.8% |
| Financial charges | 65/66B | €181,720 | €64,759 | -€116,961 | -64.4% |
| Recurring financial charges | 65 | €181,510 | €64,759 | -€116,751 | -64.3% |
| Non-recurring financial charges | 66B | €209 | - | -€209 | |
| Profit (loss) for the period before taxes | 9903 | €856,034 | €1,140,939 | +€284,904 | +33.3% |
| Income taxes | 67/77 | €261,602 | €297,579 | +€35,977 | +13.8% |
| Profit (loss) for the period | 9904 | €594,433 | €843,359 | +€248,927 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €594,433 | €843,359 | +€248,927 | +41.9% |
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 18 October 2026 via checked.be.