VALERE LOYSON: 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.
VALERE LOYSON
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts -€47,490
down €47,490 (-3.3%), from €1.4m to €1.4m
- Reserves +€47,489
up €47,489 (+5.3%), from €901,819 to €949,309
of which Distributable reserves: +€97,489
- Gross operating margin -€4,351
down €4,351 (-4.7%), from €92,546 to €88,195
- Depreciation +€4,225
up €4,225 (+27.3%), from €15,453 to €19,678
- Taxes -€1,124
down €1,124 (-6.3%), from €17,814 to €16,691
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 | €2,853,078 | €2,853,112 | +€35 | 0.0% |
| Fixed assets | 21/28 | €2,750,205 | €2,748,582 | -€1,623 | -0.1% |
| Tangible fixed assets | 22/27 | €2,750,205 | €2,748,582 | -€1,623 | -0.1% |
| Land and buildings | 22 | €2,679,027 | €2,679,027 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,165 | €7,470 | +€3,305 | +79.4% |
| Furniture and vehicles | 24 | €67,014 | €62,085 | -€4,929 | -7.4% |
| Current assets | 29/58 | €102,872 | €104,530 | +€1,658 | +1.6% |
| Stocks and contracts in progress | 3 | €1,661 | €2,859 | +€1,198 | +72.1% |
| Stocks | 30/36 | €1,661 | €2,859 | +€1,198 | +72.1% |
| Amounts receivable within one year | 40/41 | €580 | €5,629 | +€5,049 | +870% |
| Trade receivables | 40 | €226 | €851 | +€625 | +276% |
| Other amounts receivable | 41 | €354 | €4,778 | +€4,424 | +1,250% |
| Cash at bank and in hand | 54/58 | €100,631 | €96,043 | -€4,588 | -4.6% |
| Total equity and liabilities | 10/49 | €2,853,078 | €2,853,112 | +€35 | 0.0% |
| Equity | 10/15 | €1,401,819 | €1,449,309 | +€47,489 | +3.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €901,819 | €949,309 | +€47,489 | +5.3% |
| Non-distributable reserves | 130/1 | €50,000 | €0 | -€50,000 | -100% |
| Reserves not available under the articles | 1311 | €50,000 | €0 | -€50,000 | -100% |
| Distributable reserves | 133 | €851,819 | €949,309 | +€97,489 | +11.4% |
| Provisions and deferred taxes | 16 | €4,958 | €4,958 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,958 | €4,958 | = | 0.0% |
| Taxes | 161 | €4,958 | €4,958 | = | 0.0% |
| Amounts payable | 17/49 | €1,446,300 | €1,398,846 | -€47,454 | -3.3% |
| Amounts payable within one year | 42/48 | €1,446,300 | €1,398,846 | -€47,454 | -3.3% |
| Trade debts | 44 | €0 | €36 | +€36 | |
| Suppliers | 440/4 | €0 | €36 | +€36 | |
| Other amounts payable | 47/48 | €1,446,300 | €1,398,810 | -€47,490 | -3.3% |
| Non-recurring operating income | 76A | €10,172 | €0 | -€10,172 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,453 | €19,678 | +€4,225 | +27.3% |
| Other operating charges | 640/8 | €4,501 | €4,741 | +€240 | +5.3% |
| Gross operating margin | 9900 | €92,546 | €88,195 | -€4,351 | -4.7% |
| Operating profit (loss) | 9901 | €72,592 | €63,776 | -€8,816 | -12.1% |
| Financial income | 75/76B | €365 | €495 | +€130 | +35.5% |
| Recurring financial income | 75 | €365 | €495 | +€130 | +35.5% |
| Financial charges | 65/66B | €35 | €91 | +€55 | +155% |
| Recurring financial charges | 65 | €35 | €91 | +€55 | +155% |
| Profit (loss) for the period before taxes | 9903 | €72,922 | €64,180 | -€8,742 | -12.0% |
| Income taxes | 67/77 | €17,814 | €16,691 | -€1,124 | -6.3% |
| Profit (loss) for the period | 9904 | €55,107 | €47,489 | -€7,618 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,107 | €47,489 | -€7,618 | -13.8% |
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 1 November 2026 via checked.be.