Valinvest: 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.
Valinvest
Largest movements
- Cash +€35,346
up €35,346 (+149%), from €23,664 to €59,010
mainly Current investments (+€22,615) and Net result for the year (+€11,775)
- Current investments -€22,615
down €22,615 (-11.3%), from €199,350 to €176,735
- Tangible fixed assets -€7,545
down €7,545 (-6.9%), from €109,348 to €101,803
- Reserves +€11,715
up €11,715 (+4.9%), from €240,620 to €252,335
of which Distributable reserves: +€14,500
- Other debts -€4,817
down €4,817 (-87.7%), from €5,494 to €677
- Financial income +€7,164
up €7,164 (+217%), from €3,296 to €10,460
- Depreciation -€5,139
down €5,139 (-40.5%), from €12,685 to €7,545
- Taxes +€3,124
up €3,124 (+70.8%), from €4,415 to €7,539
- Gross operating margin -€347
down €347 (-1.8%), from €18,761 to €18,414
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 | €332,363 | €337,558 | +€5,196 | +1.6% |
| Fixed assets | 21/28 | €109,348 | €101,803 | -€7,545 | -6.9% |
| Tangible fixed assets | 22/27 | €109,348 | €101,803 | -€7,545 | -6.9% |
| Land and buildings | 22 | €109,348 | €101,803 | -€7,545 | -6.9% |
| Current assets | 29/58 | €223,014 | €235,755 | +€12,741 | +5.7% |
| Current investments | 50/53 | €199,350 | €176,735 | -€22,615 | -11.3% |
| Cash at bank and in hand | 54/58 | €23,664 | €59,010 | +€35,346 | +149% |
| Deferred charges and accrued income | 490/1 | - | €10 | +€10 | |
| Total equity and liabilities | 10/49 | €332,363 | €337,558 | +€5,196 | +1.6% |
| Equity | 10/15 | €306,977 | €318,752 | +€11,775 | +3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €240,620 | €252,335 | +€11,715 | +4.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,120 | €33,335 | -€2,785 | -7.7% |
| Distributable reserves | 133 | €198,300 | €212,800 | +€14,500 | +7.3% |
| Profit (loss) carried forward | 14 | €4,357 | €4,416 | +€60 | +1.4% |
| Provisions and deferred taxes | 16 | €12,040 | €11,112 | -€928 | -7.7% |
| Deferred taxes | 168 | €12,040 | €11,112 | -€928 | -7.7% |
| Amounts payable | 17/49 | €13,346 | €7,695 | -€5,651 | -42.3% |
| Amounts payable within one year | 42/48 | €7,490 | €1,582 | -€5,908 | -78.9% |
| Trade debts | 44 | €447 | €334 | -€113 | -25.2% |
| Suppliers | 440/4 | €447 | €334 | -€113 | -25.2% |
| Taxes, remuneration and social security | 45 | €1,549 | €571 | -€979 | -63.2% |
| Taxes | 450/3 | €1,549 | €571 | -€979 | -63.2% |
| Other amounts payable | 47/48 | €5,494 | €677 | -€4,817 | -87.7% |
| Accrued charges and deferred income | 492/3 | €5,856 | €6,113 | +€257 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,685 | €7,545 | -€5,139 | -40.5% |
| Other operating charges | 640/8 | €2,938 | €3,030 | +€93 | +3.1% |
| Gross operating margin | 9900 | €18,761 | €18,414 | -€347 | -1.8% |
| Operating profit (loss) | 9901 | €3,139 | €7,838 | +€4,700 | +150% |
| Financial income | 75/76B | €3,296 | €10,460 | +€7,164 | +217% |
| Recurring financial income | 75 | €3,296 | €10,460 | +€7,164 | +217% |
| Financial charges | 65/66B | -€167 | -€88 | +€79 | +47.3% |
| Recurring financial charges | 65 | -€167 | -€88 | +€79 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €6,602 | €18,386 | +€11,785 | +179% |
| Transfer from deferred taxes | 780 | €928 | €928 | = | 0.0% |
| Income taxes | 67/77 | €4,415 | €7,539 | +€3,124 | +70.8% |
| Profit (loss) for the period | 9904 | €3,115 | €11,775 | +€8,660 | +278% |
| Transfer from tax-exempt reserves | 789 | €2,785 | €2,785 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,899 | €14,560 | +€8,660 | +147% |
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 24 October 2026 via checked.be.