VALDEL IMMO: 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.
VALDEL IMMO
Largest movements
- Receivables within one year +€83,178
up €83,178 (+238%), from €34,939 to €118,116
of which Trade receivables: +€86,154
- Cash +€75,572
up €75,572 (+9.8%), from €767,525 to €843,097
mainly Net result for the year (+€240,131) and Depreciation (+€4,801)
- Profit (loss) carried forward +€204,416
up €204,416 (+32.9%), from €620,433 to €824,850
- Trade debts -€23,535
down €23,535 (-42.9%), from €54,873 to €31,337
- Tax, wage and social debts -€17,058
down €17,058 (-26.2%), from €65,208 to €48,150
of which Taxes: -€13,726
- Gross operating margin +€142,803
up €142,803 (+45.3%), from €314,974 to €457,777
- Financial charges +€49,129
up €49,129 (+5,106%), from €962 to €50,091
- Taxes +€23,393
up €23,393 (+43.7%), from €53,474 to €76,867
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 | €812,049 | €970,090 | +€158,041 | +19.5% |
| Fixed assets | 21/28 | €9,218 | €8,086 | -€1,132 | -12.3% |
| Tangible fixed assets | 22/27 | €8,623 | €7,491 | -€1,132 | -13.1% |
| Land and buildings | 22 | €1,293 | €1,077 | -€215 | -16.7% |
| Plant, machinery and equipment | 23 | €2,723 | €3,173 | +€449 | +16.5% |
| Furniture and vehicles | 24 | €3,367 | €1,147 | -€2,220 | -65.9% |
| Leasing and similar rights | 25 | €825 | €410 | -€415 | -50.3% |
| Other tangible fixed assets | 26 | - | €977 | +€977 | |
| Assets under construction and advance payments | 27 | €415 | €707 | +€292 | +70.2% |
| Financial fixed assets | 28 | €596 | €596 | = | 0.0% |
| Current assets | 29/58 | €802,831 | €962,004 | +€159,173 | +19.8% |
| Amounts receivable within one year | 40/41 | €34,939 | €118,116 | +€83,178 | +238% |
| Trade receivables | 40 | €17,126 | €103,280 | +€86,154 | +503% |
| Other amounts receivable | 41 | €17,813 | €14,837 | -€2,976 | -16.7% |
| Cash at bank and in hand | 54/58 | €767,525 | €843,097 | +€75,572 | +9.8% |
| Deferred charges and accrued income | 490/1 | €367 | €791 | +€424 | +115% |
| Total equity and liabilities | 10/49 | €812,049 | €970,090 | +€158,041 | +19.5% |
| Equity | 10/15 | €640,433 | €844,850 | +€204,416 | +31.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €620,433 | €824,850 | +€204,416 | +32.9% |
| Amounts payable | 17/49 | €171,616 | €125,240 | -€46,376 | -27.0% |
| Amounts payable within one year | 42/48 | €171,616 | €125,240 | -€46,376 | -27.0% |
| Trade debts | 44 | €54,873 | €31,337 | -€23,535 | -42.9% |
| Suppliers | 440/4 | €54,873 | €31,337 | -€23,535 | -42.9% |
| Taxes, remuneration and social security | 45 | €65,208 | €48,150 | -€17,058 | -26.2% |
| Taxes | 450/3 | €52,974 | €39,249 | -€13,726 | -25.9% |
| Remuneration and social security | 454/9 | €12,234 | €8,901 | -€3,332 | -27.2% |
| Other amounts payable | 47/48 | €51,535 | €45,753 | -€5,782 | -11.2% |
| Remuneration, social security and pensions | 62 | €84,691 | €84,321 | -€370 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,388 | €4,801 | +€413 | +9.4% |
| Other operating charges | 640/8 | €2,254 | €2,510 | +€256 | +11.3% |
| Non-recurring operating charges | 66A | -€150 | - | +€150 | |
| Gross operating margin | 9900 | €314,974 | €457,777 | +€142,803 | +45.3% |
| Operating profit (loss) | 9901 | €223,791 | €366,145 | +€142,355 | +63.6% |
| Financial income | 75/76B | €309 | €944 | +€635 | +206% |
| Recurring financial income | 75 | €309 | €944 | +€635 | +206% |
| Financial charges | 65/66B | €962 | €50,091 | +€49,129 | +5,106% |
| Recurring financial charges | 65 | €962 | €50,091 | +€49,129 | +5,106% |
| Profit (loss) for the period before taxes | 9903 | €223,137 | €316,998 | +€93,861 | +42.1% |
| Income taxes | 67/77 | €53,474 | €76,867 | +€23,393 | +43.7% |
| Profit (loss) for the period | 9904 | €169,663 | €240,131 | +€70,469 | +41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €169,663 | €240,131 | +€70,469 | +41.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.