VAL DE GRÂCE PROPERTIES: 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 DE GRÂCE PROPERTIES
Largest movements
- Receivables within one year +€69,119
up €69,119 (+14.5%), from €478,287 to €547,405
of which Other amounts receivable: +€71,087
- Deferred charges and accrued income +€24,853
up €24,853 (+994%), from €2,500 to €27,353
- Intangible fixed assets -€19,044
down €19,044 (-11.0%), from €173,490 to €154,446
- Cash +€16,708
up €16,708 (+498%), from €3,352 to €20,060
mainly Net result for the year (+€57,326) and Tax, wage and social debts (+€42,814)
- Tangible fixed assets -€13,366
down €13,366 (-2.5%), from €543,440 to €530,074
of which Land and buildings: -€11,365
- Reserves +€57,326
up €57,326 (+10.4%), from €552,224 to €609,550
- Tax, wage and social debts +€42,814
up €42,814 (+52.9%), from €80,968 to €123,782
of which Taxes: +€43,564
- Debts after one year -€21,050
down €21,050 (-14.7%), from €143,240 to €122,190
- Gross operating margin +€30,361
up €30,361 (+33.5%), from €90,544 to €120,905
- Financial income -€27,578
down €27,578 (-50.4%), from €54,690 to €27,112
- Depreciation +€17,146
up €17,146 (+112%), from €15,264 to €32,410
- Other operating charges -€10,796
down €10,796 (-82.8%), from €13,043 to €2,247
- Taxes +€9,912
up €9,912 (+57.1%), from €17,358 to €27,270
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 | €1,201,375 | €1,279,645 | +€78,270 | +6.5% |
| Fixed assets | 21/28 | €717,236 | €684,826 | -€32,410 | -4.5% |
| Intangible fixed assets | 21 | €173,490 | €154,446 | -€19,044 | -11.0% |
| Tangible fixed assets | 22/27 | €543,440 | €530,074 | -€13,366 | -2.5% |
| Land and buildings | 22 | €453,434 | €442,069 | -€11,365 | -2.5% |
| Plant, machinery and equipment | 23 | €507 | €156 | -€351 | -69.2% |
| Furniture and vehicles | 24 | €14,559 | €14,559 | = | 0.0% |
| Other tangible fixed assets | 26 | €4,940 | €3,290 | -€1,650 | -33.4% |
| Assets under construction and advance payments | 27 | €70,000 | €70,000 | = | 0.0% |
| Financial fixed assets | 28 | €306 | €306 | = | 0.0% |
| Current assets | 29/58 | €484,139 | €594,818 | +€110,680 | +22.9% |
| Amounts receivable within one year | 40/41 | €478,287 | €547,405 | +€69,119 | +14.5% |
| Trade receivables | 40 | €27,035 | €25,067 | -€1,968 | -7.3% |
| Other amounts receivable | 41 | €451,252 | €522,338 | +€71,087 | +15.8% |
| Cash at bank and in hand | 54/58 | €3,352 | €20,060 | +€16,708 | +498% |
| Deferred charges and accrued income | 490/1 | €2,500 | €27,353 | +€24,853 | +994% |
| Total equity and liabilities | 10/49 | €1,201,375 | €1,279,645 | +€78,270 | +6.5% |
| Equity | 10/15 | €696,389 | €753,714 | +€57,326 | +8.2% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €552,224 | €609,550 | +€57,326 | +10.4% |
| Distributable reserves | 133 | €552,224 | €609,550 | +€57,326 | +10.4% |
| Profit (loss) carried forward | 14 | €131,770 | €131,770 | = | 0.0% |
| Amounts payable | 17/49 | €504,986 | €525,930 | +€20,944 | +4.1% |
| Amounts payable after more than one year | 17 | €143,240 | €122,190 | -€21,050 | -14.7% |
| Financial debts | 170/4 | €143,240 | €122,190 | -€21,050 | -14.7% |
| Amounts payable within one year | 42/48 | €361,746 | €403,740 | +€41,994 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €248,427 | €250,609 | +€2,182 | +0.9% |
| Financial debts | 43 | €12,240 | - | -€12,240 | |
| Credit institutions | 430/8 | €12,240 | - | -€12,240 | |
| Trade debts | 44 | €11,411 | €21,648 | +€10,237 | +89.7% |
| Suppliers | 440/4 | €11,411 | €21,648 | +€10,237 | +89.7% |
| Taxes, remuneration and social security | 45 | €80,968 | €123,782 | +€42,814 | +52.9% |
| Taxes | 450/3 | €80,218 | €123,782 | +€43,564 | +54.3% |
| Remuneration and social security | 454/9 | €750 | - | -€750 | |
| Other amounts payable | 47/48 | €8,700 | €7,700 | -€1,000 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,264 | €32,410 | +€17,146 | +112% |
| Other operating charges | 640/8 | €13,043 | €2,247 | -€10,796 | -82.8% |
| Gross operating margin | 9900 | €90,544 | €120,905 | +€30,361 | +33.5% |
| Operating profit (loss) | 9901 | €62,236 | €86,248 | +€24,012 | +38.6% |
| Financial income | 75/76B | €54,690 | €27,112 | -€27,578 | -50.4% |
| Recurring financial income | 75 | €54,690 | €27,112 | -€27,578 | -50.4% |
| Financial charges | 65/66B | €28,204 | €28,764 | +€561 | +2.0% |
| Recurring financial charges | 65 | €28,204 | €28,764 | +€561 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €88,723 | €84,596 | -€4,127 | -4.7% |
| Income taxes | 67/77 | €17,358 | €27,270 | +€9,912 | +57.1% |
| Profit (loss) for the period | 9904 | €71,365 | €57,326 | -€14,039 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,365 | €57,326 | -€14,039 | -19.7% |
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 29 October 2026 via checked.be.