Valley Construct: 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.
Valley Construct
Largest movements
- Current investments -€225,000
down €225,000 (-100.0%), from €225,000 to €0
- Cash +€36,973
up €36,973 (+71.3%), from €51,845 to €88,819
mainly Current investments (+€225,000) and Net result for the year (+€100,503)
- Receivables within one year +€14,014
up €14,014 (+96.3%), from €14,556 to €28,570
of which Trade receivables: +€14,050
- Tangible fixed assets -€11,251
down €11,251 (-66.2%), from €16,991 to €5,740
- Reserves -€148,497
down €148,497 (-59.4%), from €249,907 to €101,410
- Tax, wage and social debts -€24,777
down €24,777 (-73.7%), from €33,628 to €8,851
- Other debts -€10,157
down €10,157 (-72.0%), from €14,106 to €3,949
- Trade debts -€5,434
down €5,434 (-74.8%), from €7,265 to €1,830
- Accrued charges and deferred income +€3,528
new in 2025: €3,528
- Gross operating margin +€7,567
up €7,567 (+6.0%), from €126,601 to €134,169
- Financial income +€6,964
new in 2025: €6,964
- Taxes +€3,832
up €3,832 (+15.7%), from €24,393 to €28,225
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 | €309,905 | €124,567 | -€185,338 | -59.8% |
| Fixed assets | 21/28 | €16,991 | €5,740 | -€11,251 | -66.2% |
| Tangible fixed assets | 22/27 | €16,991 | €5,740 | -€11,251 | -66.2% |
| Furniture and vehicles | 24 | €16,991 | €5,740 | -€11,251 | -66.2% |
| Current assets | 29/58 | €292,914 | €118,827 | -€174,087 | -59.4% |
| Amounts receivable within one year | 40/41 | €14,556 | €28,570 | +€14,014 | +96.3% |
| Trade receivables | 40 | €14,520 | €28,570 | +€14,050 | +96.8% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100.0% |
| Current investments | 50/53 | €225,000 | €0 | -€225,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €51,845 | €88,819 | +€36,973 | +71.3% |
| Deferred charges and accrued income | 490/1 | €1,512 | €1,439 | -€73 | -4.9% |
| Total equity and liabilities | 10/49 | €309,905 | €124,567 | -€185,338 | -59.8% |
| Equity | 10/15 | €254,907 | €106,410 | -€148,497 | -58.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €249,907 | €101,410 | -€148,497 | -59.4% |
| Distributable reserves | 133 | €249,907 | €101,410 | -€148,497 | -59.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €54,998 | €18,158 | -€36,841 | -67.0% |
| Amounts payable within one year | 42/48 | €54,998 | €14,630 | -€40,369 | -73.4% |
| Trade debts | 44 | €7,265 | €1,830 | -€5,434 | -74.8% |
| Suppliers | 440/4 | €7,265 | €1,830 | -€5,434 | -74.8% |
| Taxes, remuneration and social security | 45 | €33,628 | €8,851 | -€24,777 | -73.7% |
| Taxes | 450/3 | €33,628 | €8,851 | -€24,777 | -73.7% |
| Other amounts payable | 47/48 | €14,106 | €3,949 | -€10,157 | -72.0% |
| Accrued charges and deferred income | 492/3 | - | €3,528 | +€3,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,347 | €11,251 | +€904 | +8.7% |
| Other operating charges | 640/8 | €815 | €1,100 | +€284 | +34.9% |
| Non-recurring operating charges | 66A | €1,314 | €0 | -€1,314 | -100.0% |
| Gross operating margin | 9900 | €126,601 | €134,169 | +€7,567 | +6.0% |
| Operating profit (loss) | 9901 | €114,125 | €121,818 | +€7,693 | +6.7% |
| Financial income | 75/76B | - | €6,964 | +€6,964 | |
| Recurring financial income | 75 | - | €6,964 | +€6,964 | |
| Financial charges | 65/66B | €166 | €54 | -€112 | -67.4% |
| Recurring financial charges | 65 | €166 | €54 | -€112 | -67.4% |
| Profit (loss) for the period before taxes | 9903 | €113,959 | €128,728 | +€14,769 | +13.0% |
| Income taxes | 67/77 | €24,393 | €28,225 | +€3,832 | +15.7% |
| Profit (loss) for the period | 9904 | €89,566 | €100,503 | +€10,937 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €89,566 | €100,503 | +€10,937 | +12.2% |
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 6 October 2026 via checked.be.