VALEMOS: 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.
VALEMOS
Largest movements
- Tangible fixed assets +€35,117
up €35,117 (+5.7%), from €612,279 to €647,396
of which Furniture and vehicles: +€45,513
- Receivables after one year -€25,000
down €25,000 (-23.4%), from €106,939 to €81,939
- Cash +€24,722
up €24,722 (+342%), from €7,219 to €31,941
mainly Net result for the year (+€94,464) and Depreciation (+€43,001)
- Reserves +€78,107
up €78,107 (+18.1%), from €432,669 to €510,776
of which Distributable reserves: +€78,107
- Debts after one year -€42,542
down €42,542 (-14.4%), from €295,640 to €253,098
- Other debts +€9,453
up €9,453, from €0 to €9,453
- Tax, wage and social debts -€8,642
down €8,642 (-31.4%), from €27,542 to €18,900
of which Taxes: -€8,664
- Gross operating margin -€24,900
down €24,900 (-12.1%), from €205,687 to €180,787
- Taxes -€8,548
down €8,548 (-18.2%), from €47,002 to €38,454
- Depreciation +€5,081
up €5,081 (+13.4%), from €37,919 to €43,001
- Financial charges -€2,325
down €2,325 (-30.9%), from €7,513 to €5,188
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 | €809,071 | €846,114 | +€37,043 | +4.6% |
| Fixed assets | 21/28 | €612,529 | €647,646 | +€35,117 | +5.7% |
| Tangible fixed assets | 22/27 | €612,279 | €647,396 | +€35,117 | +5.7% |
| Land and buildings | 22 | €574,429 | €564,227 | -€10,202 | -1.8% |
| Furniture and vehicles | 24 | €37,070 | €82,583 | +€45,513 | +123% |
| Other tangible fixed assets | 26 | €780 | €585 | -€195 | -25.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €196,542 | €198,468 | +€1,927 | +1.0% |
| Amounts receivable after more than one year | 29 | €106,939 | €81,939 | -€25,000 | -23.4% |
| Other amounts receivable | 291 | €106,939 | €81,939 | -€25,000 | -23.4% |
| Amounts receivable within one year | 40/41 | €55,129 | €48,047 | -€7,083 | -12.8% |
| Trade receivables | 40 | €52,322 | €48,047 | -€4,275 | -8.2% |
| Other amounts receivable | 41 | €2,808 | €0 | -€2,808 | -100% |
| Current investments | 50/53 | €23,633 | €25,758 | +€2,125 | +9.0% |
| Cash at bank and in hand | 54/58 | €7,219 | €31,941 | +€24,722 | +342% |
| Deferred charges and accrued income | 490/1 | €3,622 | €10,784 | +€7,162 | +198% |
| Total equity and liabilities | 10/49 | €809,071 | €846,114 | +€37,043 | +4.6% |
| Equity | 10/15 | €439,489 | €517,596 | +€78,107 | +17.8% |
| Contributions | 10/11 | €6,820 | €6,820 | = | 0.0% |
| Reserves | 13 | €432,669 | €510,776 | +€78,107 | +18.1% |
| Non-distributable reserves | 130/1 | €17,712 | €17,712 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €17,712 | €17,712 | = | 0.0% |
| Distributable reserves | 133 | €414,957 | €493,064 | +€78,107 | +18.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €369,582 | €328,518 | -€41,064 | -11.1% |
| Amounts payable after more than one year | 17 | €295,640 | €253,098 | -€42,542 | -14.4% |
| Financial debts | 170/4 | €295,640 | €253,098 | -€42,542 | -14.4% |
| Amounts payable within one year | 42/48 | €72,231 | €73,662 | +€1,431 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €42,293 | €42,542 | +€250 | +0.6% |
| Financial debts | 43 | - | €30 | +€30 | |
| Credit institutions | 430/8 | - | €30 | +€30 | |
| Trade debts | 44 | €2,396 | €2,737 | +€341 | +14.2% |
| Suppliers | 440/4 | €2,396 | €2,737 | +€341 | +14.2% |
| Taxes, remuneration and social security | 45 | €27,542 | €18,900 | -€8,642 | -31.4% |
| Taxes | 450/3 | €24,291 | €15,627 | -€8,664 | -35.7% |
| Remuneration and social security | 454/9 | €3,252 | €3,274 | +€22 | +0.7% |
| Other amounts payable | 47/48 | €0 | €9,453 | +€9,453 | |
| Accrued charges and deferred income | 492/3 | €1,711 | €1,757 | +€47 | +2.7% |
| Non-recurring operating income | 76A | €9,221 | €0 | -€9,221 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,919 | €43,001 | +€5,081 | +13.4% |
| Other operating charges | 640/8 | €4,665 | €4,509 | -€156 | -3.3% |
| Gross operating margin | 9900 | €205,687 | €180,787 | -€24,900 | -12.1% |
| Operating profit (loss) | 9901 | €163,103 | €133,278 | -€29,825 | -18.3% |
| Financial income | 75/76B | €4,708 | €4,829 | +€120 | +2.6% |
| Recurring financial income | 75 | €4,708 | €4,829 | +€120 | +2.6% |
| Financial charges | 65/66B | €7,513 | €5,188 | -€2,325 | -30.9% |
| Recurring financial charges | 65 | €7,513 | €5,188 | -€2,325 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €160,299 | €132,918 | -€27,380 | -17.1% |
| Income taxes | 67/77 | €47,002 | €38,454 | -€8,548 | -18.2% |
| Profit (loss) for the period | 9904 | €113,296 | €94,464 | -€18,832 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €113,296 | €94,464 | -€18,832 | -16.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.