Val d'Or Construct: 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.
Val d'Or Construct
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-75.0%), from €1.5m to €364,116
of which Other amounts receivable: -€1.1m
- Other debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Financial income -€65,753
down €65,753 (-66.7%), from €98,541 to €32,789
- Other operating charges +€29,396
up €29,396 (+2,756%), from €1,067 to €30,462
- Gross operating margin +€26,777
up €26,777 (+79.7%), from -€33,578 to -€6,801
- Taxes -€14,415
down €14,415 (-91.0%), from €15,840 to €1,426
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 | €1,633,004 | €552,406 | -€1.1m | -66.2% |
| Current assets | 29/58 | €1,633,004 | €552,406 | -€1.1m | -66.2% |
| Stocks and contracts in progress | 3 | €176,380 | €188,290 | +€11,910 | +6.8% |
| Stocks | 30/36 | €176,380 | €188,290 | +€11,910 | +6.8% |
| Amounts receivable within one year | 40/41 | €1,456,624 | €364,116 | -€1.1m | -75.0% |
| Trade receivables | 40 | €155,178 | €127,552 | -€27,625 | -17.8% |
| Other amounts receivable | 41 | €1,301,446 | €236,563 | -€1.1m | -81.8% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,633,004 | €552,406 | -€1.1m | -66.2% |
| Equity | 10/15 | €550,000 | €543,623 | -€6,377 | -1.2% |
| 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 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | -€6,377 | -€6,377 | |
| Amounts payable | 17/49 | €1,083,004 | €8,783 | -€1.1m | -99.2% |
| Amounts payable within one year | 42/48 | €1,083,004 | €8,783 | -€1.1m | -99.2% |
| Trade debts | 44 | €21,873 | €8,783 | -€13,090 | -59.8% |
| Suppliers | 440/4 | €21,873 | €8,783 | -€13,090 | -59.8% |
| Taxes, remuneration and social security | 45 | €15,840 | €0 | -€15,840 | -100% |
| Taxes | 450/3 | €15,840 | €0 | -€15,840 | -100% |
| Other amounts payable | 47/48 | €1,045,291 | €0 | -€1.0m | -100% |
| Other operating charges | 640/8 | €1,067 | €30,462 | +€29,396 | +2,756% |
| Gross operating margin | 9900 | -€33,578 | -€6,801 | +€26,777 | +79.7% |
| Operating profit (loss) | 9901 | -€34,645 | -€37,264 | -€2,619 | -7.6% |
| Financial income | 75/76B | €98,541 | €32,789 | -€65,753 | -66.7% |
| Recurring financial income | 75 | €98,541 | €32,789 | -€65,753 | -66.7% |
| Financial charges | 65/66B | €535 | €476 | -€59 | -11.0% |
| Recurring financial charges | 65 | €535 | €476 | -€59 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €63,361 | -€4,951 | -€68,312 | |
| Income taxes | 67/77 | €15,840 | €1,426 | -€14,415 | -91.0% |
| Profit (loss) for the period | 9904 | €47,521 | -€6,377 | -€53,898 | |
| Transfer from tax-exempt reserves | 789 | €997,770 | €0 | -€997,770 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,045,291 | -€6,377 | -€1.1m |
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 13 October 2026 via checked.be.