VALEDEC: 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.
VALEDEC
Largest movements
- Tangible fixed assets -€26,071
down €26,071 (-1.9%), from €1.4m to €1.4m
of which Land and buildings: -€20,790
- Receivables within one year +€20,154
up €20,154 (+65.1%), from €30,945 to €51,099
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€25,436
down €25,436 (-35.5%), from €71,603 to €46,167
- Taxes -€13,220
down €13,220 (-73.9%), from €17,893 to €4,673
- Depreciation -€7,666
down €7,666 (-22.7%), from €33,738 to €26,071
- Financial income +€891
up €891 (+99.2%), from €898 to €1,790
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,504,305 | €1,504,091 | -€215 | 0.0% |
| Fixed assets | 21/28 | €1,470,820 | €1,444,748 | -€26,071 | -1.8% |
| Tangible fixed assets | 22/27 | €1,401,410 | €1,375,338 | -€26,071 | -1.9% |
| Land and buildings | 22 | €1,382,716 | €1,361,926 | -€20,790 | -1.5% |
| Plant, machinery and equipment | 23 | €18,694 | €13,412 | -€5,281 | -28.3% |
| Financial fixed assets | 28 | €69,410 | €69,410 | = | 0.0% |
| Current assets | 29/58 | €33,486 | €59,343 | +€25,857 | +77.2% |
| Amounts receivable within one year | 40/41 | €30,945 | €51,099 | +€20,154 | +65.1% |
| Other amounts receivable | 41 | €30,945 | €51,099 | +€20,154 | +65.1% |
| Cash at bank and in hand | 54/58 | €1,018 | €3,302 | +€2,284 | +224.4% |
| Deferred charges and accrued income | 490/1 | €1,523 | €4,941 | +€3,418 | +224.4% |
| Total equity and liabilities | 10/49 | €1,504,305 | €1,504,091 | -€215 | 0.0% |
| Equity | 10/15 | €1,020,182 | €1,026,275 | +€6,093 | +0.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €989,195 | €995,288 | +€6,093 | +0.6% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,797 | €69,764 | -€3,033 | -4.2% |
| Distributable reserves | 133 | €913,299 | €922,425 | +€9,126 | +1.0% |
| Provisions and deferred taxes | 16 | €30,579 | €29,305 | -€1,274 | -4.2% |
| Deferred taxes | 168 | €30,579 | €29,305 | -€1,274 | -4.2% |
| Amounts payable | 17/49 | €453,545 | €448,512 | -€5,033 | -1.1% |
| Amounts payable within one year | 42/48 | €453,545 | €448,512 | -€5,033 | -1.1% |
| Trade debts | 44 | €10,508 | €9,692 | -€816 | -7.8% |
| Suppliers | 440/4 | €10,508 | €9,692 | -€816 | -7.8% |
| Taxes, remuneration and social security | 45 | €18,891 | €4,673 | -€14,218 | -75.3% |
| Taxes | 450/3 | €18,891 | €4,673 | -€14,218 | -75.3% |
| Other amounts payable | 47/48 | €424,147 | €434,147 | +€10,000 | +2.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,738 | €26,071 | -€7,666 | -22.7% |
| Other operating charges | 640/8 | €12,848 | €12,327 | -€521 | -4.1% |
| Gross operating margin | 9900 | €71,603 | €46,167 | -€25,436 | -35.5% |
| Operating profit (loss) | 9901 | €25,018 | €7,769 | -€17,249 | -68.9% |
| Financial income | 75/76B | €898 | €1,790 | +€891 | +99.2% |
| Recurring financial income | 75 | €898 | €1,790 | +€891 | +99.2% |
| Financial charges | 65/66B | - | €67 | +€67 | |
| Recurring financial charges | 65 | - | €67 | +€67 | |
| Profit (loss) for the period before taxes | 9903 | €25,916 | €9,492 | -€16,424 | -63.4% |
| Transfer from deferred taxes | 780 | €1,274 | €1,274 | = | 0.0% |
| Income taxes | 67/77 | €17,893 | €4,673 | -€13,220 | -73.9% |
| Profit (loss) for the period | 9904 | €9,298 | €6,093 | -€3,205 | -34.5% |
| Transfer from tax-exempt reserves | 789 | €3,033 | €3,033 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,331 | €9,126 | -€3,205 | -26.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.