Valurus: 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.
What changed
Valurus
NACE 69.203, Activities of company auditors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14.5m
2024 · €666,683+€13.8m
Equity
€18.3m
2024 · €5.6m+€12.7m
Cash
€253,851
2024 · €445,698-€191,847
Balance sheet total
€19.9m
2024 · €7.8m+€12.0m
Largest movements
Assets
- Financial fixed assets +€12.3m
up €12.3m (+173.2%), from €7.1m to €19.4m
of which Affiliated companies: +€12.8m
Equity and liabilities
- Reserves +€14.5m
up €14.5m (+394.1%), from €3.7m to €18.1m
of which Distributable reserves: +€14.7m
- Revaluation surpluses -€1.8m
down €1.8m (-96.0%), from €1.9m to €74,373
- Other debts -€429,231
down €429,231 (-70.9%), from €605,574 to €176,343
Income statement
- Financial income +€13.9m
up €13.9m (+125316.0%), from €11,060 to €13.9m
of which Non-recurring financial income: +€13.9m
- Services and other goods +€106,576
up €106,576 (+24.0%), from €443,247 to €549,823
- Turnover +€26,496
up €26,496 (+1.9%), from €1.4m to €1.4m
- Taxes -€25,585
down €25,585 (-11.3%), from €225,997 to €200,411
of which Taxes: -€50,585
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.
Result 2024
€666,683
Turnover
+€26,496
Other operating income
+€5,474
Services and other goods
-€106,576
Depreciation
-€2,035
Other operating charges
+€378
Financial income
+€13.9m
Financial charges
-€7,885
Taxes
+€25,585
Result 2025
€14.5m
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.
From operations
+€14.1m
Investment
-€12.3m
Financing
-€2.0m
Cash 2024
€445,698
From operations (derived)
+€14.1m
Net result for the year
+€14.5m
Depreciation
+€28,334
Smaller working-capital items
+€48,273
Tax, wage and social debts
-€42,938
Other debts
-€429,231
Investment (derived)
-€12.3m
Investment in fixed assets (net)
-€12.3m
Current investments
+€50,000
Financing
-€2.0m
Debts after one year
-€43,179
Current portion of long-term debt
-€129,008
Contributions, distributions and other
-€1.8m
Cash 2025
€253,851
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,822,375 | €19,867,740 | +€12.0m | +154.0% |
| Fixed assets | 21/28 | €7,201,298 | €19,507,425 | +€12.3m | +170.9% |
| Tangible fixed assets | 22/27 | €88,951 | €74,107 | -€14,843 | -16.7% |
| Furniture and vehicles | 24 | €69,777 | €45,930 | -€23,847 | -34.2% |
| Other tangible fixed assets | 26 | €19,174 | €28,177 | +€9,004 | +47.0% |
| Financial fixed assets | 28 | €7,112,347 | €19,433,318 | +€12.3m | +173.2% |
| Affiliated companies | 280/1 | €6,414,427 | €19,203,686 | +€12.8m | +199.4% |
| Participating interests | 280 | €6,414,427 | €19,203,686 | +€12.8m | +199.4% |
| Companies linked by participating interests | 282/3 | €697,920 | €229,632 | -€468,288 | -67.1% |
| Participating interests | 282 | €697,920 | €229,632 | -€468,288 | -67.1% |
| Current assets | 29/58 | €621,076 | €360,315 | -€260,761 | -42.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €22,025 | €5,056 | -€16,970 | -77.0% |
| Trade receivables | 40 | €22,025 | €0 | -€22,025 | -100.0% |
| Other amounts receivable | 41 | - | €5,056 | +€5,056 | |
| Current investments | 50/53 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Other investments | 51/53 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €445,698 | €253,851 | -€191,847 | -43.0% |
| Deferred charges and accrued income | 490/1 | €3,353 | €1,408 | -€1,945 | -58.0% |
| Total equity and liabilities | 10/49 | €7,822,375 | €19,867,740 | +€12.0m | +154.0% |
| Equity | 10/15 | €5,590,303 | €18,250,666 | +€12.7m | +226.5% |
| Contributions | 10/11 | €36,900 | €36,900 | = | 0.0% |
| Revaluation surpluses | 12 | €1,882,164 | €74,373 | -€1.8m | -96.0% |
| Reserves | 13 | €3,671,239 | €18,139,393 | +€14.5m | +394.1% |
| Tax-exempt reserves | 132 | €383,110 | €168,400 | -€214,710 | -56.0% |
| Distributable reserves | 133 | €3,288,129 | €17,970,993 | +€14.7m | +446.5% |
| Provisions and deferred taxes | 16 | €861,764 | €857,032 | -€4,732 | -0.5% |
| Provisions for liabilities and charges | 160/5 | €861,764 | €857,032 | -€4,732 | -0.5% |
| Other liabilities and charges | 164/5 | €861,764 | €857,032 | -€4,732 | -0.5% |
| Amounts payable | 17/49 | €1,370,307 | €760,041 | -€610,266 | -44.5% |
| Amounts payable after more than one year | 17 | €473,219 | €430,040 | -€43,179 | -9.1% |
| Financial debts | 170/4 | €473,219 | €430,040 | -€43,179 | -9.1% |
| Credit institutions | 173 | €42,834 | €0 | -€42,834 | -100.0% |
| Other loans | 174 | €430,385 | €430,040 | -€345 | -0.1% |
| Amounts payable within one year | 42/48 | €892,475 | €325,747 | -€566,728 | -63.5% |
| Current portion of amounts payable after more than one year | 42 | €184,237 | €55,229 | -€129,008 | -70.0% |
| Trade debts | 44 | €2,382 | €36,832 | +€34,449 | +1446.1% |
| Suppliers | 440/4 | €2,382 | €36,832 | +€34,449 | +1446.1% |
| Taxes, remuneration and social security | 45 | €100,281 | €57,343 | -€42,938 | -42.8% |
| Taxes | 450/3 | €97,981 | €55,043 | -€42,938 | -43.8% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €605,574 | €176,343 | -€429,231 | -70.9% |
| Accrued charges and deferred income | 492/3 | €4,613 | €4,254 | -€359 | -7.8% |
| Operating income | 70/76A | €1,425,663 | €1,457,633 | +€31,970 | +2.2% |
| Turnover | 70 | €1,414,872 | €1,441,368 | +€26,496 | +1.9% |
| Other operating income | 74 | €10,791 | €16,265 | +€5,474 | +50.7% |
| Operating charges | 60/66A | €471,234 | €579,468 | +€108,234 | +23.0% |
| Services and other goods | 61 | €443,247 | €549,823 | +€106,576 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,299 | €28,334 | +€2,035 | +7.7% |
| Other operating charges | 640/8 | €1,688 | €1,310 | -€378 | -22.4% |
| Operating profit (loss) | 9901 | €954,429 | €878,165 | -€76,264 | -8.0% |
| Financial income | 75/76B | €11,060 | €13,871,095 | +€13.9m | +125316.0% |
| Recurring financial income | 75 | €11,060 | €1,556 | -€9,504 | -85.9% |
| Income from current assets | 751 | €2,179 | €1,556 | -€623 | -28.6% |
| Other financial income | 752/9 | €8,882 | €0 | -€8,882 | -100.0% |
| Non-recurring financial income | 76B | - | €13,869,539 | +€13.9m | |
| Financial charges | 65/66B | €72,809 | €80,695 | +€7,885 | +10.8% |
| Recurring financial charges | 65 | €72,809 | €80,695 | +€7,885 | +10.8% |
| Debt charges | 650 | €72,133 | €79,597 | +€7,464 | +10.3% |
| Other financial charges | 652/9 | €677 | €1,097 | +€421 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €892,680 | €14,668,565 | +€13.8m | +1543.2% |
| Income taxes | 67/77 | €225,997 | €200,411 | -€25,585 | -11.3% |
| Taxes | 670/3 | €250,997 | €200,411 | -€50,585 | -20.2% |
| Tax adjustments and reversals of tax provisions | 77 | €25,000 | €0 | -€25,000 | -100.0% |
| Profit (loss) for the period | 9904 | €666,683 | €14,468,154 | +€13.8m | +2070.2% |
| Transfer from tax-exempt reserves | 789 | €269,440 | €298,910 | +€29,470 | +10.9% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €851,923 | €14,682,864 | +€13.8m | +1623.5% |
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 3 October 2026 via checked.be.