VALVES CO: what changed
What changed
VALVES CO
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
filed annual accounts (NBB)
Net result for the year
€321,638
2024 · €374,546-€52,908
Equity
€3.0m
2024 · €3.2m-€217,315
Cash
€483,099
2024 · €118,376+€364,724
Balance sheet total
€4.5m
2024 · €4.4m+€73,439
Largest movements
Assets
- Cash +€364,724
up €364,724 (+308%), from €118,376 to €483,099
mainly Other debts (+€538,953) and Receivables within one year (+€328,619)
- Receivables within one year -€328,619
down €328,619 (-16.1%), from €2.0m to €1.7m
of which Trade receivables: -€487,895
Equity and liabilities
- Other debts +€538,953
new in 2025: €538,953
- Reserves -€217,315
down €217,315 (-6.8%), from €3.2m to €3.0m
of which Distributable reserves: -€217,315
- Trade debts -€213,164
down €213,164 (-24.3%), from €876,589 to €663,425
- Current portion of long-term debt -€52,519
down €52,519 (-63.6%), from €82,574 to €30,055
Income statement
- Gross operating margin -€55,048
down €55,048 (-2.7%), from €2.0m to €2.0m
- Financial income -€39,718
down €39,718 (-83.6%), from €47,484 to €7,766
- Financial charges -€39,607
down €39,607 (-49.0%), from €80,760 to €41,152
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€374,546
Gross operating margin
-€55,048
Staff costs
-€11,346
Depreciation
+€7,618
Other operating charges
+€2,142
Financial income
-€39,718
Financial charges
+€39,607
Taxes
+€3,837
Result 2025
€321,638
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.0m
Investment
-€53,056
Financing
-€591,473
Cash 2024
€118,376
From operations (derived)
+€1.0m
Net result for the year
+€321,638
Depreciation
+€52,545
Stocks and contracts
-€38,840
Receivables within one year
+€328,619
Deferred charges and accrued income
+€2,016
Trade debts
-€213,164
Tax, wage and social debts
+€15,432
Other debts
+€538,953
Accrued charges and deferred income
+€2,052
Investment (derived)
-€53,056
Investment in fixed assets (net)
-€53,056
Financing
-€591,473
Current portion of long-term debt
-€52,519
Contributions, distributions and other
-€538,953
Cash 2025
€483,099
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,408,859 | €4,482,298 | +€73,439 | +1.7% |
| Fixed assets | 21/28 | €129,114 | €129,625 | +€511 | +0.4% |
| Intangible fixed assets | 21 | €29,995 | €27,074 | -€2,921 | -9.7% |
| Tangible fixed assets | 22/27 | €99,119 | €102,551 | +€3,433 | +3.5% |
| Land and buildings | 22 | €26,936 | €23,950 | -€2,986 | -11.1% |
| Plant, machinery and equipment | 23 | €25,805 | €36,874 | +€11,069 | +42.9% |
| Furniture and vehicles | 24 | €46,378 | €41,728 | -€4,650 | -10.0% |
| Current assets | 29/58 | €4,279,746 | €4,352,674 | +€72,928 | +1.7% |
| Stocks and contracts in progress | 3 | €2,042,759 | €2,081,599 | +€38,840 | +1.9% |
| Stocks | 30/36 | €2,042,759 | €2,081,599 | +€38,840 | +1.9% |
| Amounts receivable within one year | 40/41 | €2,044,634 | €1,716,015 | -€328,619 | -16.1% |
| Trade receivables | 40 | €1,964,908 | €1,477,013 | -€487,895 | -24.8% |
| Other amounts receivable | 41 | €79,726 | €239,002 | +€159,276 | +200% |
| Cash at bank and in hand | 54/58 | €118,376 | €483,099 | +€364,724 | +308% |
| Deferred charges and accrued income | 490/1 | €73,977 | €71,961 | -€2,016 | -2.7% |
| Total equity and liabilities | 10/49 | €4,408,859 | €4,482,298 | +€73,439 | +1.7% |
| Equity | 10/15 | €3,233,847 | €3,016,531 | -€217,315 | -6.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €3,208,847 | €2,991,531 | -€217,315 | -6.8% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €3,152,597 | €2,935,281 | -€217,315 | -6.9% |
| Amounts payable | 17/49 | €1,175,012 | €1,465,767 | +€290,755 | +24.7% |
| Amounts payable within one year | 42/48 | €1,175,012 | €1,463,715 | +€288,702 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €82,574 | €30,055 | -€52,519 | -63.6% |
| Trade debts | 44 | €876,589 | €663,425 | -€213,164 | -24.3% |
| Suppliers | 440/4 | €876,589 | €663,425 | -€213,164 | -24.3% |
| Taxes, remuneration and social security | 45 | €215,849 | €231,281 | +€15,432 | +7.1% |
| Taxes | 450/3 | €96,187 | €90,047 | -€6,140 | -6.4% |
| Remuneration and social security | 454/9 | €119,662 | €141,234 | +€21,572 | +18.0% |
| Other amounts payable | 47/48 | - | €538,953 | +€538,953 | |
| Accrued charges and deferred income | 492/3 | - | €2,052 | +€2,052 | |
| Non-recurring operating income | 76A | €2,000 | €14,387 | +€12,387 | +619% |
| Remuneration, social security and pensions | 62 | €1,379,062 | €1,390,408 | +€11,346 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,163 | €52,545 | -€7,618 | -12.7% |
| Other operating charges | 640/8 | €13,620 | €11,478 | -€2,142 | -15.7% |
| Gross operating margin | 9900 | €2,027,442 | €1,972,394 | -€55,048 | -2.7% |
| Operating profit (loss) | 9901 | €574,597 | €517,963 | -€56,634 | -9.9% |
| Financial income | 75/76B | €47,484 | €7,766 | -€39,718 | -83.6% |
| Recurring financial income | 75 | €47,484 | €7,766 | -€39,718 | -83.6% |
| Financial charges | 65/66B | €80,760 | €41,152 | -€39,607 | -49.0% |
| Recurring financial charges | 65 | €80,760 | €41,152 | -€39,607 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | €541,321 | €484,576 | -€56,745 | -10.5% |
| Income taxes | 67/77 | €166,775 | €162,938 | -€3,837 | -2.3% |
| Profit (loss) for the period | 9904 | €374,546 | €321,638 | -€52,908 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €374,546 | €321,638 | -€52,908 | -14.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.