VALOIS: 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.
VALOIS
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+9.1%), from €12.8m to €14.0m
of which Companies linked by participating interests: +€1.1m
- Cash +€236,713
up €236,713 (+308.7%), from €76,675 to €313,388
mainly Debts after one year (+€2.5m) and Trade debts (+€31,266)
- Debts after one year +€2.5m
up €2.5m (+90.5%), from €2.8m to €5.3m
- Other debts -€885,000
no longer reported in 2025 (was €885,000)
- Profit (loss) carried forward -€268,519
down €268,519 (-0.9%), from -€29.8m to -€30.1m
- Financial charges +€149,888
up €149,888 (+192.2%), from €77,978 to €227,866
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 | €12,875,983 | €14,276,399 | +€1.4m | +10.9% |
| Fixed assets | 21/28 | €12,799,308 | €13,959,309 | +€1.2m | +9.1% |
| Financial fixed assets | 28 | €12,799,308 | €13,959,309 | +€1.2m | +9.1% |
| Companies linked by participating interests | 282/3 | €12,736,808 | €13,846,809 | +€1.1m | +8.7% |
| Participating interests | 282 | €12,736,808 | €13,846,809 | +€1.1m | +8.7% |
| Other financial fixed assets | 284/8 | €62,500 | €112,500 | +€50,000 | +80.0% |
| Shares | 284 | €62,500 | €112,500 | +€50,000 | +80.0% |
| Current assets | 29/58 | €76,675 | €317,091 | +€240,416 | +313.6% |
| Amounts receivable after more than one year | 29 | - | €3,703 | +€3,703 | |
| Other amounts receivable | 291 | - | €3,703 | +€3,703 | |
| Cash at bank and in hand | 54/58 | €76,675 | €313,388 | +€236,713 | +308.7% |
| Total equity and liabilities | 10/49 | €12,875,983 | €14,276,399 | +€1.4m | +10.9% |
| Equity | 10/15 | €9,021,505 | €8,752,986 | -€268,519 | -3.0% |
| Contributions | 10/11 | €16,661,500 | €16,661,500 | = | 0.0% |
| Capital | 10 | €16,661,500 | €16,661,500 | = | 0.0% |
| Issued capital | 100 | €16,661,500 | €16,661,500 | = | 0.0% |
| Reserves | 13 | €22,192,900 | €22,192,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,930 | €47,930 | +€0 | 0.0% |
| Legal reserve | 130 | €2,504 | €2,504 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €45,426 | €45,426 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €258,660 | €258,660 | -€0 | 0.0% |
| Distributable reserves | 133 | €21,886,310 | €21,886,310 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€29,832,895 | -€30,101,414 | -€268,519 | -0.9% |
| Amounts payable | 17/49 | €3,854,478 | €5,523,413 | +€1.7m | +43.3% |
| Amounts payable after more than one year | 17 | €2,784,893 | €5,305,756 | +€2.5m | +90.5% |
| Other amounts payable | 178/9 | €2,784,893 | €5,305,756 | +€2.5m | +90.5% |
| Amounts payable within one year | 42/48 | €886,283 | €32,549 | -€853,734 | -96.3% |
| Trade debts | 44 | €1,283 | €32,549 | +€31,266 | +2436.9% |
| Suppliers | 440/4 | €1,283 | €32,549 | +€31,266 | +2436.9% |
| Other amounts payable | 47/48 | €885,000 | - | -€885,000 | |
| Accrued charges and deferred income | 492/3 | €183,302 | €185,108 | +€1,806 | +1.0% |
| Operating charges | 60/66A | €18,220 | €48,070 | +€29,850 | +163.8% |
| Services and other goods | 61 | €17,859 | €48,021 | +€30,162 | +168.9% |
| Other operating charges | 640/8 | €361 | €49 | -€312 | -86.5% |
| Operating profit (loss) | 9901 | -€18,220 | -€48,070 | -€29,850 | -163.8% |
| Financial income | 75/76B | €4,876 | €7,417 | +€2,541 | +52.1% |
| Recurring financial income | 75 | €4,876 | €7,417 | +€2,541 | +52.1% |
| Income from financial fixed assets | 750 | €4,876 | €7,314 | +€2,438 | +50.0% |
| Income from current assets | 751 | - | €103 | +€103 | |
| Financial charges | 65/66B | €77,978 | €227,866 | +€149,888 | +192.2% |
| Recurring financial charges | 65 | €77,978 | €227,866 | +€149,888 | +192.2% |
| Debt charges | 650 | €77,978 | €227,668 | +€149,690 | +192.0% |
| Other financial charges | 652/9 | - | €198 | +€198 | |
| Profit (loss) for the period before taxes | 9903 | -€91,322 | -€268,519 | -€177,197 | -194.0% |
| Profit (loss) for the period | 9904 | -€91,322 | -€268,519 | -€177,197 | -194.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€91,322 | -€268,519 | -€177,197 | -194.0% |
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.