VALENS: 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
VALENS
NACE 41.001, General construction of residential buildings
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.0m
2024 · €265,244-€3.3m
Equity
€9.6m
2024 · €5.2m+€4.5m
Cash
€5.3m
2024 · €5.7m-€463,601
Balance sheet total
€63.8m
2024 · €58.7m+€5.1m
Largest movements
Assets
- Receivables within one year +€3.6m
up €3.6m (+7.4%), from €48.7m to €52.3m
of which Other amounts receivable: +€3.4m
- Current investments +€1.8m
up €1.8m (+72.7%), from €2.5m to €4.2m
Equity and liabilities
- Profit (loss) carried forward +€2.7m
up €2.7m (+46.7%), from -€5.7m to -€3.0m
- Contributions +€1.8m
up €1.8m (+22.5%), from €8.0m to €9.8m
- Trade debts -€1.4m
down €1.4m (-3.3%), from €41.9m to €40.5m
- Provisions +€770,762
up €770,762 (+50.0%), from €1.5m to €2.3m
- Advances received +€672,801
up €672,801 (+17.0%), from €4.0m to €4.6m
Income statement
- Turnover -€5.1m
down €5.1m (-5.1%), from €101.0m to €95.9m
- Goods and materials -€4.8m
down €4.8m (-6.6%), from €71.8m to €67.0m
- Write-downs -€2.0m
down €2.0m, from €302,671 to -€1.7m
- Provisions +€1.6m
up €1.6m, from -€869,413 to €770,762
- Staff costs +€1.2m
up €1.2m (+8.2%), from €15.2m to €16.4m
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.
Result 2024
€265,244
Turnover
-€5.1m
Other operating income
-€228,094
Goods and materials
+€4.8m
Services and other goods
-€306,371
Staff costs
-€1.2m
Depreciation
+€58,647
Write-downs
+€2.0m
Provisions
-€1.6m
Other operating charges
+€424,677
Other operating items
-€2.0m
Financial income
-€20,456
Financial charges
-€54,127
Taxes
+€52,399
Result 2025
-€3.0m
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.
From operations
-€5.8m
Investment
-€2.0m
Financing
+€7.4m
Cash 2024
€5.7m
From operations (derived)
-€5.8m
Net result for the year
-€3.0m
Depreciation
+€184,828
Receivables within one year
-€3.6m
Deferred charges and accrued income
-€134,531
Provisions
+€770,762
Trade debts
-€1.4m
Tax, wage and social debts
+€348,303
Advances received
+€672,801
Other debts
-€36,808
Accrued charges and deferred income
+€353,689
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€210,545
Current investments
-€1.8m
Financing
+€7.4m
Debts after one year
-€68,069
Current portion of long-term debt
-€59,811
Contributions, distributions and other
+€7.5m
Cash 2025
€5.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,690,012 | €63,766,487 | +€5.1m | +8.6% |
| Fixed assets | 21/28 | €395,453 | €421,170 | +€25,717 | +6.5% |
| Tangible fixed assets | 22/27 | €317,920 | €343,387 | +€25,467 | +8.0% |
| Land and buildings | 22 | €21,803 | €18,480 | -€3,323 | -15.2% |
| Furniture and vehicles | 24 | €96,143 | €155,250 | +€59,107 | +61.5% |
| Leasing and similar rights | 25 | €198,857 | €70,956 | -€127,901 | -64.3% |
| Other tangible fixed assets | 26 | €1,116 | €98,701 | +€97,586 | +8745.1% |
| Financial fixed assets | 28 | €77,533 | €77,783 | +€250 | +0.3% |
| Affiliated companies | 280/1 | €33,000 | €33,000 | = | 0.0% |
| Participating interests | 280 | €33,000 | €33,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €44,533 | €44,783 | +€250 | +0.6% |
| Shares | 284 | €1,511 | €1,511 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €43,022 | €43,272 | +€250 | +0.6% |
| Current assets | 29/58 | €58,294,559 | €63,345,317 | +€5.1m | +8.7% |
| Amounts receivable within one year | 40/41 | €48,656,190 | €52,255,256 | +€3.6m | +7.4% |
| Trade receivables | 40 | €32,052,529 | €32,300,997 | +€248,468 | +0.8% |
| Other amounts receivable | 41 | €16,603,661 | €19,954,259 | +€3.4m | +20.2% |
| Current investments | 50/53 | €2,450,000 | €4,230,762 | +€1.8m | +72.7% |
| Other investments | 51/53 | €2,450,000 | €4,230,762 | +€1.8m | +72.7% |
| Cash at bank and in hand | 54/58 | €5,728,260 | €5,264,659 | -€463,601 | -8.1% |
| Deferred charges and accrued income | 490/1 | €1,460,109 | €1,594,640 | +€134,531 | +9.2% |
| Total equity and liabilities | 10/49 | €58,690,012 | €63,766,487 | +€5.1m | +8.6% |
| Equity | 10/15 | €5,166,985 | €9,629,184 | +€4.5m | +86.4% |
| Contributions | 10/11 | €8,000,000 | €9,802,452 | +€1.8m | +22.5% |
| Capital | 10 | €8,000,000 | €9,802,452 | +€1.8m | +22.5% |
| Issued capital | 100 | €8,000,000 | €9,802,452 | +€1.8m | +22.5% |
| Reserves | 13 | €2,864,533 | €2,864,533 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000,000 | €1,000,000 | = | 0.0% |
| Legal reserve | 130 | €1,000,000 | €1,000,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,679,533 | €1,679,533 | = | 0.0% |
| Distributable reserves | 133 | €185,000 | €185,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,697,548 | -€3,037,801 | +€2.7m | +46.7% |
| Provisions and deferred taxes | 16 | €1,541,129 | €2,311,891 | +€770,762 | +50.0% |
| Provisions for liabilities and charges | 160/5 | €1,541,129 | €2,311,891 | +€770,762 | +50.0% |
| Other liabilities and charges | 164/5 | €1,541,129 | €2,311,891 | +€770,762 | +50.0% |
| Amounts payable | 17/49 | €51,981,898 | €51,825,411 | -€156,487 | -0.3% |
| Amounts payable after more than one year | 17 | €74,611 | €6,542 | -€68,069 | -91.2% |
| Financial debts | 170/4 | €74,611 | €6,542 | -€68,069 | -91.2% |
| Leasing and similar obligations | 172 | €74,611 | €6,542 | -€68,069 | -91.2% |
| Amounts payable within one year | 42/48 | €49,076,011 | €48,633,904 | -€442,107 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €126,044 | €66,233 | -€59,811 | -47.5% |
| Trade debts | 44 | €41,853,291 | €40,486,699 | -€1.4m | -3.3% |
| Suppliers | 440/4 | €41,853,291 | €40,486,699 | -€1.4m | -3.3% |
| Advances received on contracts in progress | 46 | €3,952,160 | €4,624,960 | +€672,801 | +17.0% |
| Taxes, remuneration and social security | 45 | €2,682,695 | €3,030,998 | +€348,303 | +13.0% |
| Taxes | 450/3 | €750,320 | €503,113 | -€247,207 | -32.9% |
| Remuneration and social security | 454/9 | €1,932,375 | €2,527,885 | +€595,510 | +30.8% |
| Other amounts payable | 47/48 | €461,821 | €425,013 | -€36,808 | -8.0% |
| Accrued charges and deferred income | 492/3 | €2,831,277 | €3,184,966 | +€353,689 | +12.5% |
| Operating income | 70/76A | €102,093,469 | €94,798,129 | -€7.3m | -7.1% |
| Turnover | 70 | €101,017,534 | €95,904,251 | -€5.1m | -5.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€812,351 | -€2,766,313 | -€2.0m | -240.5% |
| Other operating income | 74 | €1,888,286 | €1,660,191 | -€228,094 | -12.1% |
| Operating charges | 60/66A | €101,816,698 | €97,802,218 | -€4.0m | -3.9% |
| Goods for resale, raw materials and consumables | 60 | €71,794,119 | €67,028,226 | -€4.8m | -6.6% |
| Purchases | 600/8 | €71,794,119 | €67,028,226 | -€4.8m | -6.6% |
| Services and other goods | 61 | €14,398,434 | €14,704,805 | +€306,371 | +2.1% |
| Remuneration, social security and pensions | 62 | €15,158,085 | €16,405,492 | +€1.2m | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,474 | €184,828 | -€58,647 | -24.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €302,671 | -€1,653,878 | -€2.0m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€869,413 | €770,762 | +€1.6m | |
| Other operating charges | 640/8 | €786,661 | €361,984 | -€424,677 | -54.0% |
| Non-recurring operating charges | 66A | €2,666 | - | -€2,666 | |
| Operating profit (loss) | 9901 | €276,771 | -€3,004,089 | -€3.3m | |
| Financial income | 75/76B | €206,488 | €186,031 | -€20,456 | -9.9% |
| Recurring financial income | 75 | €206,488 | €186,031 | -€20,456 | -9.9% |
| Income from financial fixed assets | 750 | €12 | - | -€12 | |
| Income from current assets | 751 | €206,413 | €182,433 | -€23,980 | -11.6% |
| Other financial income | 752/9 | €63 | €3,599 | +€3,536 | +5657.9% |
| Financial charges | 65/66B | €150,311 | €204,438 | +€54,127 | +36.0% |
| Recurring financial charges | 65 | €150,311 | €204,438 | +€54,127 | +36.0% |
| Debt charges | 650 | €70,160 | €109,171 | +€39,012 | +55.6% |
| Other financial charges | 652/9 | €80,151 | €95,267 | +€15,116 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | €332,948 | -€3,022,496 | -€3.4m | |
| Income taxes | 67/77 | €67,704 | €15,305 | -€52,399 | -77.4% |
| Taxes | 670/3 | €67,704 | €23,097 | -€44,607 | -65.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €7,792 | +€7,792 | |
| Profit (loss) for the period | 9904 | €265,244 | -€3,037,801 | -€3.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €265,244 | -€3,037,801 | -€3.3m |
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 9 October 2026 via checked.be.