VALOIR: 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.
VALOIR
Largest movements
- Tangible fixed assets -€20,027
down €20,027 (-7.0%), from €284,734 to €264,707
of which Land and buildings: -€11,870
- Receivables within one year +€8,152
up €8,152 (+48.4%), from €16,833 to €24,985
of which Other amounts receivable: +€8,973
- Cash +€7,587
up €7,587 (+101.2%), from €7,500 to €15,086
mainly Net result for the year (+€23,512) and Depreciation (+€15,708)
- Other debts -€34,629
down €34,629 (-98.9%), from €35,000 to €371
- Reserves +€26,000
up €26,000 (+56.6%), from €45,900 to €71,900
- Tax, wage and social debts +€8,012
up €8,012 (+105.0%), from €7,630 to €15,642
of which Remuneration and social security: +€5,042
- Debts after one year -€7,033
down €7,033 (-1.5%), from €457,123 to €450,090
of which Financial debts: -€19,640
- Financial income +€29,978
up €29,978 (+67899.3%), from €44 to €30,022
- Taxes +€9,612
up €9,612 (+204.2%), from €4,707 to €14,319
- Financial charges +€6,640
up €6,640 (+39.8%), from €16,702 to €23,342
- Gross operating margin +€4,837
up €4,837 (+10.9%), from €44,208 to €49,044
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 | €584,428 | €578,373 | -€6,055 | -1.0% |
| Fixed assets | 21/28 | €553,752 | €533,724 | -€20,027 | -3.6% |
| Tangible fixed assets | 22/27 | €284,734 | €264,707 | -€20,027 | -7.0% |
| Land and buildings | 22 | €268,351 | €256,481 | -€11,870 | -4.4% |
| Plant, machinery and equipment | 23 | €6,607 | €8,226 | +€1,619 | +24.5% |
| Furniture and vehicles | 24 | €9,776 | €0 | -€9,776 | -100.0% |
| Financial fixed assets | 28 | €269,018 | €269,018 | = | 0.0% |
| Current assets | 29/58 | €30,676 | €44,649 | +€13,973 | +45.5% |
| Amounts receivable within one year | 40/41 | €16,833 | €24,985 | +€8,152 | +48.4% |
| Trade receivables | 40 | €10,333 | €9,512 | -€821 | -7.9% |
| Other amounts receivable | 41 | €6,500 | €15,473 | +€8,973 | +138.1% |
| Current investments | 50/53 | €1,157 | €222 | -€935 | -80.8% |
| Cash at bank and in hand | 54/58 | €7,500 | €15,086 | +€7,587 | +101.2% |
| Deferred charges and accrued income | 490/1 | €5,186 | €4,356 | -€831 | -16.0% |
| Total equity and liabilities | 10/49 | €584,428 | €578,373 | -€6,055 | -1.0% |
| Equity | 10/15 | €59,928 | €83,440 | +€23,512 | +39.2% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Reserves | 13 | €45,900 | €71,900 | +€26,000 | +56.6% |
| Distributable reserves | 133 | €45,900 | €71,900 | +€26,000 | +56.6% |
| Profit (loss) carried forward | 14 | €7,518 | €5,030 | -€2,488 | -33.1% |
| Amounts payable | 17/49 | €524,500 | €494,933 | -€29,566 | -5.6% |
| Amounts payable after more than one year | 17 | €457,123 | €450,090 | -€7,033 | -1.5% |
| Financial debts | 170/4 | €233,357 | €213,717 | -€19,640 | -8.4% |
| Other amounts payable | 178/9 | €223,767 | €236,374 | +€12,607 | +5.6% |
| Amounts payable within one year | 42/48 | €65,456 | €42,922 | -€22,533 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €19,344 | €19,640 | +€296 | +1.5% |
| Trade debts | 44 | €3,482 | €7,269 | +€3,787 | +108.8% |
| Suppliers | 440/4 | €3,482 | €7,269 | +€3,787 | +108.8% |
| Taxes, remuneration and social security | 45 | €7,630 | €15,642 | +€8,012 | +105.0% |
| Taxes | 450/3 | €7,630 | €10,601 | +€2,971 | +38.9% |
| Remuneration and social security | 454/9 | - | €5,042 | +€5,042 | |
| Other amounts payable | 47/48 | €35,000 | €371 | -€34,629 | -98.9% |
| Accrued charges and deferred income | 492/3 | €1,921 | €1,921 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,136 | €15,708 | -€427 | -2.6% |
| Other operating charges | 640/8 | €2,340 | €2,186 | -€154 | -6.6% |
| Gross operating margin | 9900 | €44,208 | €49,044 | +€4,837 | +10.9% |
| Operating profit (loss) | 9901 | €25,733 | €31,150 | +€5,418 | +21.1% |
| Financial income | 75/76B | €44 | €30,022 | +€29,978 | +67899.3% |
| Recurring financial income | 75 | €44 | €30,022 | +€29,978 | +67899.3% |
| Financial charges | 65/66B | €16,702 | €23,342 | +€6,640 | +39.8% |
| Recurring financial charges | 65 | €16,702 | €23,342 | +€6,640 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €9,075 | €37,830 | +€28,755 | +316.9% |
| Income taxes | 67/77 | €4,707 | €14,319 | +€9,612 | +204.2% |
| Profit (loss) for the period | 9904 | €4,368 | €23,512 | +€19,143 | +438.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,368 | €23,512 | +€19,143 | +438.2% |
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 9 October 2026 via checked.be.