VALVAN IMMO: 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.
VALVAN IMMO
Largest movements
- Receivables within one year -€2.8m
down €2.8m (-30.2%), from €9.1m to €6.4m
of which Other amounts receivable: -€2.8m
- Deferred charges and accrued income -€249,370
down €249,370 (-91.7%), from €272,088 to €22,718
- Other debts -€2.5m
down €2.5m (-89.2%), from €2.8m to €300,000
- Trade debts -€665,465
down €665,465 (-98.8%), from €673,791 to €8,326
- Financial income -€151,732
down €151,732 (-51.3%), from €295,650 to €143,919
- Gross operating margin +€15,422
up €15,422 (+4.2%), from €369,765 to €385,187
- Taxes +€8,811
up €8,811 (+418.0%), from €2,108 to €10,918
- Depreciation -€5,344
down €5,344 (-3.9%), from €135,355 to €130,012
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 | €11,099,344 | €7,999,133 | -€3.1m | -27.9% |
| Fixed assets | 21/28 | €1,685,954 | €1,597,568 | -€88,386 | -5.2% |
| Tangible fixed assets | 22/27 | €971,655 | €883,269 | -€88,386 | -9.1% |
| Land and buildings | 22 | €854,307 | €800,634 | -€53,673 | -6.3% |
| Plant, machinery and equipment | 23 | €117,348 | €82,635 | -€34,712 | -29.6% |
| Financial fixed assets | 28 | €714,299 | €714,299 | = | 0.0% |
| Current assets | 29/58 | €9,413,391 | €6,401,566 | -€3.0m | -32.0% |
| Amounts receivable within one year | 40/41 | €9,141,302 | €6,378,848 | -€2.8m | -30.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,141,302 | €6,378,848 | -€2.8m | -30.2% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €272,088 | €22,718 | -€249,370 | -91.7% |
| Total equity and liabilities | 10/49 | €11,099,344 | €7,999,133 | -€3.1m | -27.9% |
| Equity | 10/15 | €7,657,022 | €7,689,776 | +€32,755 | +0.4% |
| Contributions | 10/11 | €368,129 | €368,129 | = | 0.0% |
| Reserves | 13 | €7,272,220 | €7,304,975 | +€32,755 | +0.5% |
| Tax-exempt reserves | 132 | €7,272,220 | €7,272,220 | = | 0.0% |
| Distributable reserves | 133 | €0 | €32,755 | +€32,755 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €16,672 | €16,672 | = | 0.0% |
| Amounts payable | 17/49 | €3,442,322 | €309,357 | -€3.1m | -91.0% |
| Amounts payable within one year | 42/48 | €3,442,322 | €309,244 | -€3.1m | -91.0% |
| Trade debts | 44 | €673,791 | €8,326 | -€665,465 | -98.8% |
| Suppliers | 440/4 | €673,791 | €8,326 | -€665,465 | -98.8% |
| Taxes, remuneration and social security | 45 | €0 | €918 | +€918 | |
| Taxes | 450/3 | €0 | €918 | +€918 | |
| Other amounts payable | 47/48 | €2,768,532 | €300,000 | -€2.5m | -89.2% |
| Accrued charges and deferred income | 492/3 | - | €113 | +€113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,355 | €130,012 | -€5,344 | -3.9% |
| Other operating charges | 640/8 | €51,430 | €53,958 | +€2,529 | +4.9% |
| Gross operating margin | 9900 | €369,765 | €385,187 | +€15,422 | +4.2% |
| Operating profit (loss) | 9901 | €182,980 | €201,217 | +€18,237 | +10.0% |
| Financial income | 75/76B | €295,650 | €143,919 | -€151,732 | -51.3% |
| Recurring financial income | 75 | €295,650 | €143,919 | -€151,732 | -51.3% |
| Financial charges | 65/66B | €200 | €1,463 | +€1,263 | +632.4% |
| Recurring financial charges | 65 | €200 | €360 | +€161 | +80.4% |
| Non-recurring financial charges | 66B | - | €1,103 | +€1,103 | |
| Profit (loss) for the period before taxes | 9903 | €478,430 | €343,673 | -€134,757 | -28.2% |
| Income taxes | 67/77 | €2,108 | €10,918 | +€8,811 | +418.0% |
| Profit (loss) for the period | 9904 | €476,323 | €332,755 | -€143,568 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €476,323 | €332,755 | -€143,568 | -30.1% |
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 10 October 2026 via checked.be.