VALMART: 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.
VALMART
Largest movements
- Cash +€66,927
up €66,927 (+76.7%), from €87,276 to €154,203
mainly Net result for the year (+€64,646) and Depreciation (+€33,650)
- Tangible fixed assets +€11,691
up €11,691 (+14.2%), from €82,332 to €94,022
of which Plant, machinery and equipment: +€6,855
- Stocks and contracts +€5,173
up €5,173 (+22.8%), from €22,719 to €27,892
- Reserves +€70,000
up €70,000 (+100.0%), from €70,000 to €140,000
- Trade debts +€5,844
up €5,844 (+647.8%), from €902 to €6,746
- Tax, wage and social debts +€5,507
up €5,507 (+99.2%), from €5,552 to €11,058
of which Taxes: +€6,586
- Profit (loss) carried forward -€5,354
down €5,354 (-34.4%), from €15,581 to €10,227
- Other debts +€4,408
up €4,408 (+7.9%), from €55,834 to €60,242
- Gross operating margin +€95,736
up €95,736 (+150.2%), from €63,722 to €159,458
- Staff costs +€27,172
up €27,172 (+261.5%), from €10,392 to €37,564
- Taxes +€12,849
up €12,849 (+322.4%), from €3,985 to €16,834
- Depreciation +€2,641
up €2,641 (+8.5%), from €31,009 to €33,650
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 | €206,312 | €289,362 | +€83,049 | +40.3% |
| Fixed assets | 21/28 | €82,332 | €94,022 | +€11,691 | +14.2% |
| Tangible fixed assets | 22/27 | €82,332 | €94,022 | +€11,691 | +14.2% |
| Plant, machinery and equipment | 23 | €1,815 | €8,670 | +€6,855 | +377.6% |
| Furniture and vehicles | 24 | €79,159 | €84,330 | +€5,172 | +6.5% |
| Other tangible fixed assets | 26 | €1,358 | €1,022 | -€336 | -24.7% |
| Current assets | 29/58 | €123,980 | €195,339 | +€71,359 | +57.6% |
| Stocks and contracts in progress | 3 | €22,719 | €27,892 | +€5,173 | +22.8% |
| Stocks | 30/36 | €22,719 | €27,892 | +€5,173 | +22.8% |
| Amounts receivable within one year | 40/41 | €13,197 | €11,590 | -€1,606 | -12.2% |
| Trade receivables | 40 | €4,544 | €3,831 | -€713 | -15.7% |
| Other amounts receivable | 41 | €8,652 | €7,759 | -€893 | -10.3% |
| Cash at bank and in hand | 54/58 | €87,276 | €154,203 | +€66,927 | +76.7% |
| Deferred charges and accrued income | 490/1 | €789 | €1,654 | +€865 | +109.6% |
| Total equity and liabilities | 10/49 | €206,312 | €289,362 | +€83,049 | +40.3% |
| Equity | 10/15 | €93,081 | €157,727 | +€64,646 | +69.5% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €70,000 | €140,000 | +€70,000 | +100.0% |
| Distributable reserves | 133 | €70,000 | €140,000 | +€70,000 | +100.0% |
| Profit (loss) carried forward | 14 | €15,581 | €10,227 | -€5,354 | -34.4% |
| Amounts payable | 17/49 | €113,232 | €131,635 | +€18,404 | +16.3% |
| Amounts payable after more than one year | 17 | €31,785 | €33,060 | +€1,276 | +4.0% |
| Financial debts | 170/4 | €31,785 | €33,060 | +€1,276 | +4.0% |
| Amounts payable within one year | 42/48 | €77,054 | €94,466 | +€17,412 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €14,766 | €16,419 | +€1,653 | +11.2% |
| Trade debts | 44 | €902 | €6,746 | +€5,844 | +647.8% |
| Suppliers | 440/4 | €902 | €6,746 | +€5,844 | +647.8% |
| Taxes, remuneration and social security | 45 | €5,552 | €11,058 | +€5,507 | +99.2% |
| Taxes | 450/3 | €1,679 | €8,264 | +€6,586 | +392.4% |
| Remuneration and social security | 454/9 | €3,873 | €2,794 | -€1,079 | -27.9% |
| Other amounts payable | 47/48 | €55,834 | €60,242 | +€4,408 | +7.9% |
| Accrued charges and deferred income | 492/3 | €4,393 | €4,109 | -€284 | -6.5% |
| Remuneration, social security and pensions | 62 | €10,392 | €37,564 | +€27,172 | +261.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,009 | €33,650 | +€2,641 | +8.5% |
| Other operating charges | 640/8 | €1,497 | €1,400 | -€97 | -6.5% |
| Gross operating margin | 9900 | €63,722 | €159,458 | +€95,736 | +150.2% |
| Operating profit (loss) | 9901 | €20,823 | €86,844 | +€66,021 | +317.0% |
| Financial income | 75/76B | €932 | €1,502 | +€571 | +61.2% |
| Recurring financial income | 75 | €932 | €1,502 | +€571 | +61.2% |
| Financial charges | 65/66B | €7,338 | €6,867 | -€472 | -6.4% |
| Recurring financial charges | 65 | €7,338 | €6,867 | -€472 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €14,417 | €81,480 | +€67,063 | +465.2% |
| Income taxes | 67/77 | €3,985 | €16,834 | +€12,849 | +322.4% |
| Profit (loss) for the period | 9904 | €10,432 | €64,646 | +€54,214 | +519.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,432 | €64,646 | +€54,214 | +519.7% |
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 4 October 2026 via checked.be.