Valenova: 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.
What changed
Valenova
NACE 41.001, General construction of residential buildings
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€18,959
2023 · €11,260+€7,699
Equity
€184,888
2023 · €165,929+€18,959
Cash
€204,484
2023 · €47,516+€156,968
Balance sheet total
€2.7m
2023 · €1.4m+€1.3m
Largest movements
Assets
- Stocks and contracts +€1.1m
up €1.1m (+120%), from €917,534 to €2.0m
of which Contracts in progress: +€1.1m
- Cash +€156,968
up €156,968 (+330%), from €47,516 to €204,484
mainly Advances received (+€1.3m) and Net result for the year (+€18,959)
- Receivables after one year +€40,696
up €40,696 (+33.9%), from €120,050 to €160,746
- Tangible fixed assets -€31,723
down €31,723 (-51.0%), from €62,206 to €30,484
of which Furniture and vehicles: -€17,928
Equity and liabilities
- Advances received +€1.3m
up €1.3m (+268%), from €485,000 to €1.8m
- Debts after one year -€51,789
down €51,789 (-51.2%), from €101,211 to €49,422
Income statement
- Gross operating margin +€21,439
up €21,439 (+10.3%), from €207,279 to €228,718
- Financial charges +€16,335
up €16,335 (+106%), from €15,450 to €31,784
- Taxes +€9,252
up €9,252 (+590%), from €1,569 to €10,822
- Other operating charges +€4,285
up €4,285 (+88.8%), from €4,827 to €9,112
- Financial income +€2,475
up €2,475 (+66.1%), from €3,744 to €6,219
From the 2023 result to the 2024 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.
Result 2023
€11,260
Gross operating margin
+€21,439
Staff costs
-€1,181
Depreciation
+€180
Other operating charges
-€4,285
Other operating items
+€14,658
Financial income
+€2,475
Financial charges
-€16,335
Taxes
-€9,252
Result 2024
€18,959
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€220,885
Investment
+€12,972
Financing
-€76,890
Cash 2023
€47,516
From operations (derived)
+€220,885
Net result for the year
+€18,959
Depreciation
+€18,750
Receivables after one year
-€40,696
Stocks and contracts
-€1.1m
Receivables within one year
+€10,598
Smaller working-capital items
+€2,754
Trade debts
+€15,052
Tax, wage and social debts
+€5,394
Advances received
+€1.3m
Accrued charges and deferred income
-€9,845
Investment (derived)
+€12,972
Investment in fixed assets (net)
+€12,972
Financing
-€76,890
Debts after one year
-€51,789
Current portion of long-term debt
-€24,501
Short-term financial debts
-€600
Cash 2024
€204,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,434,357 | €2,687,031 | +€1.3m | +87.3% |
| Fixed assets | 21/28 | €67,696 | €35,974 | -€31,723 | -46.9% |
| Tangible fixed assets | 22/27 | €62,206 | €30,484 | -€31,723 | -51.0% |
| Plant, machinery and equipment | 23 | €6,104 | €10,512 | +€4,409 | +72.2% |
| Furniture and vehicles | 24 | €20,220 | €2,292 | -€17,928 | -88.7% |
| Leasing and similar rights | 25 | €24,973 | €10,545 | -€14,428 | -57.8% |
| Other tangible fixed assets | 26 | €10,910 | €7,134 | -€3,775 | -34.6% |
| Financial fixed assets | 28 | €5,490 | €5,490 | = | 0.0% |
| Current assets | 29/58 | €1,366,661 | €2,651,057 | +€1.3m | +94.0% |
| Amounts receivable after more than one year | 29 | €120,050 | €160,746 | +€40,696 | +33.9% |
| Other amounts receivable | 291 | €120,050 | €160,746 | +€40,696 | +33.9% |
| Stocks and contracts in progress | 3 | €917,534 | €2,017,615 | +€1.1m | +120% |
| Stocks | 30/36 | €52,970 | €27,187 | -€25,783 | -48.7% |
| Contracts in progress | 37 | €864,564 | €1,990,429 | +€1.1m | +130% |
| Amounts receivable within one year | 40/41 | €250,296 | €239,698 | -€10,598 | -4.2% |
| Trade receivables | 40 | €184,473 | €178,372 | -€6,102 | -3.3% |
| Other amounts receivable | 41 | €65,822 | €61,326 | -€4,496 | -6.8% |
| Cash at bank and in hand | 54/58 | €47,516 | €204,484 | +€156,968 | +330% |
| Deferred charges and accrued income | 490/1 | €31,264 | €28,514 | -€2,751 | -8.8% |
| Total equity and liabilities | 10/49 | €1,434,357 | €2,687,031 | +€1.3m | +87.3% |
| Equity | 10/15 | €165,929 | €184,888 | +€18,959 | +11.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €186,188 | €186,188 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €183,688 | €183,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,259 | -€26,300 | +€18,959 | +41.9% |
| Amounts payable | 17/49 | €1,268,428 | €2,502,143 | +€1.2m | +97.3% |
| Amounts payable after more than one year | 17 | €101,211 | €49,422 | -€51,789 | -51.2% |
| Financial debts | 170/4 | €101,211 | €49,422 | -€51,789 | -51.2% |
| Amounts payable within one year | 42/48 | €1,157,267 | €2,452,616 | +€1.3m | +112% |
| Current portion of amounts payable after more than one year | 42 | €84,169 | €59,668 | -€24,501 | -29.1% |
| Financial debts | 43 | €405,600 | €405,000 | -€600 | -0.1% |
| Credit institutions | 430/8 | €405,600 | €405,000 | -€600 | -0.1% |
| Trade debts | 44 | €177,395 | €192,448 | +€15,052 | +8.5% |
| Suppliers | 440/4 | €177,395 | €192,448 | +€15,052 | +8.5% |
| Advances received on contracts in progress | 46 | €485,000 | €1,785,000 | +€1.3m | +268% |
| Taxes, remuneration and social security | 45 | €5,102 | €10,496 | +€5,394 | +106% |
| Taxes | 450/3 | €2,101 | €4,806 | +€2,705 | +129% |
| Remuneration and social security | 454/9 | €3,001 | €5,690 | +€2,689 | +89.6% |
| Other amounts payable | 47/48 | - | €3 | +€3 | |
| Accrued charges and deferred income | 492/3 | €9,950 | €105 | -€9,845 | -98.9% |
| Non-recurring operating income | 76A | €7,921 | €11,720 | +€3,799 | +48.0% |
| Remuneration, social security and pensions | 62 | €144,329 | €145,510 | +€1,181 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,930 | €18,750 | -€180 | -1.0% |
| Other operating charges | 640/8 | €4,827 | €9,112 | +€4,285 | +88.8% |
| Non-recurring operating charges | 66A | €14,658 | - | -€14,658 | |
| Gross operating margin | 9900 | €207,279 | €228,718 | +€21,439 | +10.3% |
| Operating profit (loss) | 9901 | €24,535 | €55,346 | +€30,811 | +126% |
| Financial income | 75/76B | €3,744 | €6,219 | +€2,475 | +66.1% |
| Recurring financial income | 75 | €3,744 | €6,219 | +€2,475 | +66.1% |
| Financial charges | 65/66B | €15,450 | €31,784 | +€16,335 | +106% |
| Recurring financial charges | 65 | €15,450 | €31,784 | +€16,335 | +106% |
| Profit (loss) for the period before taxes | 9903 | €12,829 | €29,780 | +€16,951 | +132% |
| Income taxes | 67/77 | €1,569 | €10,822 | +€9,252 | +590% |
| Profit (loss) for the period | 9904 | €11,260 | €18,959 | +€7,699 | +68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,260 | €18,959 | +€7,699 | +68.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.