VALEUREUX: 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.
VALEUREUX
Largest movements
- Current investments +€624,021
new in 2025: €624,021
- Receivables within one year +€69,665
up €69,665 (+280.0%), from €24,878 to €94,543
of which Other amounts receivable: +€70,888
- Tangible fixed assets +€38,530
up €38,530 (+18.4%), from €209,967 to €248,497
of which Furniture and vehicles: +€63,748
- Intangible fixed assets -€28,761
down €28,761 (-50.0%), from €57,522 to €28,761
- Cash +€28,512
up €28,512 (+517.6%), from €5,508 to €34,020
mainly Net result for the year (+€793,056) and Depreciation (+€67,332)
- Reserves +€463,200
up €463,200 (+146.8%), from €315,510 to €778,710
of which Distributable reserves: +€463,200
- Profit (loss) carried forward +€329,855
no longer reported in 2025 (was -€329,855)
- Other debts -€48,435
down €48,435 (-89.5%), from €54,102 to €5,667
- Debts after one year -€25,297
down €25,297 (-17.0%), from €148,912 to €123,615
- Gross operating margin +€1.1m
up €1.1m (+1541.9%), from €73,203 to €1.2m
- Taxes +€331,210
up €331,210 (+8005.4%), from €4,137 to €335,348
- Financial income +€12,826
up €12,826 (+389.7%), from €3,291 to €16,117
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 | €304,845 | €1,029,842 | +€724,997 | +237.8% |
| Fixed assets | 21/28 | €273,813 | €277,258 | +€3,445 | +1.3% |
| Intangible fixed assets | 21 | €57,522 | €28,761 | -€28,761 | -50.0% |
| Tangible fixed assets | 22/27 | €209,967 | €248,497 | +€38,530 | +18.4% |
| Plant, machinery and equipment | 23 | €2,092 | €2,422 | +€330 | +15.8% |
| Furniture and vehicles | 24 | €27,813 | €91,561 | +€63,748 | +229.2% |
| Leasing and similar rights | 25 | €180,062 | €154,514 | -€25,547 | -14.2% |
| Financial fixed assets | 28 | €6,324 | - | -€6,324 | |
| Current assets | 29/58 | €31,033 | €752,584 | +€721,551 | +2325.1% |
| Amounts receivable within one year | 40/41 | €24,878 | €94,543 | +€69,665 | +280.0% |
| Trade receivables | 40 | €1,222 | - | -€1,222 | |
| Other amounts receivable | 41 | €23,656 | €94,543 | +€70,888 | +299.7% |
| Current investments | 50/53 | - | €624,021 | +€624,021 | |
| Cash at bank and in hand | 54/58 | €5,508 | €34,020 | +€28,512 | +517.6% |
| Deferred charges and accrued income | 490/1 | €646 | - | -€646 | |
| Total equity and liabilities | 10/49 | €304,845 | €1,029,842 | +€724,997 | +237.8% |
| Equity | 10/15 | -€85 | €792,970 | +€793,056 | |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €315,510 | €778,710 | +€463,200 | +146.8% |
| Non-distributable reserves | 130/1 | €230,088 | €258,849 | +€28,761 | +12.5% |
| Reserves not available under the articles | 1311 | €230,088 | €258,849 | +€28,761 | +12.5% |
| Tax-exempt reserves | 132 | €57,522 | €28,761 | -€28,761 | -50.0% |
| Distributable reserves | 133 | €27,900 | €491,100 | +€463,200 | +1660.2% |
| Profit (loss) carried forward | 14 | -€329,855 | - | +€329,855 | |
| Amounts payable | 17/49 | €304,931 | €236,872 | -€68,059 | -22.3% |
| Amounts payable after more than one year | 17 | €148,912 | €123,615 | -€25,297 | -17.0% |
| Financial debts | 170/4 | €148,912 | €123,615 | -€25,297 | -17.0% |
| Amounts payable within one year | 42/48 | €149,644 | €112,252 | -€37,392 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €91,155 | €93,622 | +€2,467 | +2.7% |
| Trade debts | 44 | - | €8,010 | +€8,010 | |
| Suppliers | 440/4 | - | €8,010 | +€8,010 | |
| Taxes, remuneration and social security | 45 | €4,387 | €4,953 | +€566 | +12.9% |
| Taxes | 450/3 | €4,387 | €4,953 | +€566 | +12.9% |
| Other amounts payable | 47/48 | €54,102 | €5,667 | -€48,435 | -89.5% |
| Accrued charges and deferred income | 492/3 | €6,375 | €1,005 | -€5,370 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,992 | €67,332 | -€3,659 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,703 | -€1,703 | -€3,405 | |
| Other operating charges | 640/8 | €8,892 | €7,638 | -€1,254 | -14.1% |
| Gross operating margin | 9900 | €73,203 | €1,201,942 | +€1.1m | +1541.9% |
| Operating profit (loss) | 9901 | -€8,384 | €1,128,675 | +€1.1m | |
| Financial income | 75/76B | €3,291 | €16,117 | +€12,826 | +389.7% |
| Recurring financial income | 75 | €3,291 | €16,117 | +€12,826 | +389.7% |
| Financial charges | 65/66B | €10,437 | €16,388 | +€5,951 | +57.0% |
| Recurring financial charges | 65 | €10,437 | €16,388 | +€5,951 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,530 | €1,128,403 | +€1.1m | |
| Income taxes | 67/77 | €4,137 | €335,348 | +€331,210 | +8005.4% |
| Profit (loss) for the period | 9904 | -€19,667 | €793,056 | +€812,723 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,667 | €793,056 | +€812,723 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.