Value West Belgium: 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.
Value West Belgium
Largest movements
- Stocks and contracts +€186,586
up €186,586 (+151%), from €123,451 to €310,036
of which Stocks: +€158,294
- Cash +€10,777
up €10,777 (+199%), from €5,416 to €16,194
mainly Trade debts (+€141,807) and Accrued charges and deferred income (+€75,044)
- Trade debts +€141,807
up €141,807 (+83.7%), from €169,441 to €311,248
- Accrued charges and deferred income +€75,044
new in 2025: €75,044
- Debts after one year -€50,000
down €50,000 (-100%), from €50,000 to €0
- Tax, wage and social debts +€29,531
up €29,531 (+54.0%), from €54,717 to €84,247
of which Taxes: +€32,604
- Reserves +€9,899
up €9,899 (+326%), from €3,040 to €12,939
- Staff costs -€34,949
down €34,949 (-26.4%), from €132,241 to €97,292
- Write-downs +€27,743
up €27,743 (+1,397%), from €1,986 to €29,729
- Financial charges +€1,721
up €1,721 (+38.9%), from €4,426 to €6,147
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 | €328,629 | €533,478 | +€204,849 | +62.3% |
| Fixed assets | 21/28 | - | €4,297 | +€4,297 | |
| Tangible fixed assets | 22/27 | - | €1,057 | +€1,057 | |
| Furniture and vehicles | 24 | - | €1,057 | +€1,057 | |
| Financial fixed assets | 28 | - | €3,240 | +€3,240 | |
| Current assets | 29/58 | €328,629 | €529,180 | +€200,552 | +61.0% |
| Stocks and contracts in progress | 3 | €123,451 | €310,036 | +€186,586 | +151% |
| Stocks | 30/36 | €104,510 | €262,804 | +€158,294 | +151% |
| Contracts in progress | 37 | €18,941 | €47,232 | +€28,292 | +149% |
| Amounts receivable within one year | 40/41 | €199,589 | €202,950 | +€3,361 | +1.7% |
| Trade receivables | 40 | €195,913 | €202,950 | +€7,038 | +3.6% |
| Other amounts receivable | 41 | €3,677 | €0 | -€3,677 | -100% |
| Cash at bank and in hand | 54/58 | €5,416 | €16,194 | +€10,777 | +199% |
| Deferred charges and accrued income | 490/1 | €172 | €0 | -€172 | -100% |
| Total equity and liabilities | 10/49 | €328,629 | €533,478 | +€204,849 | +62.3% |
| Equity | 10/15 | €53,040 | €62,939 | +€9,899 | +18.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €3,040 | €12,939 | +€9,899 | +326% |
| Distributable reserves | 133 | €3,040 | €12,939 | +€9,899 | +326% |
| Amounts payable | 17/49 | €275,589 | €470,538 | +€194,950 | +70.7% |
| Amounts payable after more than one year | 17 | €50,000 | €0 | -€50,000 | -100% |
| Financial debts | 170/4 | €50,000 | €0 | -€50,000 | -100% |
| Amounts payable within one year | 42/48 | €225,589 | €395,495 | +€169,906 | +75.3% |
| Trade debts | 44 | €169,441 | €311,248 | +€141,807 | +83.7% |
| Suppliers | 440/4 | €169,441 | €311,248 | +€141,807 | +83.7% |
| Advances received on contracts in progress | 46 | €752 | €0 | -€752 | -100% |
| Taxes, remuneration and social security | 45 | €54,717 | €84,247 | +€29,531 | +54.0% |
| Taxes | 450/3 | €35,257 | €67,861 | +€32,604 | +92.5% |
| Remuneration and social security | 454/9 | €19,460 | €16,387 | -€3,073 | -15.8% |
| Other amounts payable | 47/48 | €679 | €0 | -€679 | -100% |
| Accrued charges and deferred income | 492/3 | - | €75,044 | +€75,044 | |
| Remuneration, social security and pensions | 62 | €132,241 | €97,292 | -€34,949 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €100 | +€100 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,986 | €29,729 | +€27,743 | +1,397% |
| Other operating charges | 640/8 | €556 | €261 | -€295 | -53.1% |
| Gross operating margin | 9900 | €147,668 | €146,903 | -€764 | -0.5% |
| Operating profit (loss) | 9901 | €12,885 | €19,521 | +€6,637 | +51.5% |
| Financial income | 75/76B | - | €1,025 | +€1,025 | |
| Recurring financial income | 75 | - | €1,025 | +€1,025 | |
| Financial charges | 65/66B | €4,426 | €6,147 | +€1,721 | +38.9% |
| Recurring financial charges | 65 | €4,426 | €6,147 | +€1,721 | +38.9% |
| Profit (loss) for the period before taxes | 9903 | €8,459 | €14,400 | +€5,941 | +70.2% |
| Income taxes | 67/77 | €5,419 | €4,500 | -€918 | -16.9% |
| Profit (loss) for the period | 9904 | €3,040 | €9,899 | +€6,860 | +226% |
| Profit (loss) for the period to be appropriated | 9905 | €3,040 | €9,899 | +€6,860 | +226% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.