Valein: what changed
What changed
Valein
filed annual accounts (NBB)
Net result for the year
€121,857
2024 · €119,228+€2,629
Equity
€1.9m
2024 · €1.8m+€121,857
Cash
€178,311
2024 · €218,374-€40,063
Balance sheet total
€5.9m
2024 · €6.0m-€126,151
Largest movements
Assets
- Tangible fixed assets -€80,994
down €80,994 (-1.4%), from €5.8m to €5.7m
of which Land and buildings: -€84,201
Equity and liabilities
- Debts after one year -€241,332
down €241,332 (-6.3%), from €3.9m to €3.6m
- Reserves +€121,857
up €121,857 (+45.4%), from €268,145 to €390,002
Income statement
- Gross operating margin +€6,437
up €6,437 (+1.5%), from €418,728 to €425,165
- Other operating charges +€4,974
up €4,974 (+29.5%), from €16,860 to €21,835
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
€119,228
Gross operating margin
+€6,437
Depreciation
-€1,417
Other operating charges
-€4,974
Financial income
-€5
Financial charges
+€3,339
Taxes
-€750
Result 2025
€121,857
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
+€282,758
Investment
-€81,489
Financing
-€241,332
Cash 2024
€218,374
From operations (derived)
+€282,758
Net result for the year
+€121,857
Depreciation
+€162,483
Receivables within one year
+€4,897
Deferred charges and accrued income
+€196
Trade debts
+€2,283
Tax, wage and social debts
+€2,711
Other debts
+€14,769
Accrued charges and deferred income
-€26,438
Investment (derived)
-€81,489
Investment in fixed assets (net)
-€81,489
Financing
-€241,332
Debts after one year
-€241,332
Cash 2025
€178,311
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,046,877 | €5,920,726 | -€126,151 | -2.1% |
| Fixed assets | 21/28 | €5,818,295 | €5,737,301 | -€80,994 | -1.4% |
| Tangible fixed assets | 22/27 | €5,818,295 | €5,737,301 | -€80,994 | -1.4% |
| Land and buildings | 22 | €5,798,522 | €5,714,320 | -€84,201 | -1.5% |
| Plant, machinery and equipment | 23 | €19,773 | €17,551 | -€2,223 | -11.2% |
| Furniture and vehicles | 24 | - | €5,429 | +€5,429 | |
| Current assets | 29/58 | €228,583 | €183,426 | -€45,157 | -19.8% |
| Amounts receivable within one year | 40/41 | €4,920 | €23 | -€4,897 | -99.5% |
| Trade receivables | 40 | €1,881 | - | -€1,881 | |
| Other amounts receivable | 41 | €3,039 | €23 | -€3,016 | -99.3% |
| Cash at bank and in hand | 54/58 | €218,374 | €178,311 | -€40,063 | -18.3% |
| Deferred charges and accrued income | 490/1 | €5,289 | €5,093 | -€196 | -3.7% |
| Total equity and liabilities | 10/49 | €6,046,877 | €5,920,726 | -€126,151 | -2.1% |
| Equity | 10/15 | €1,801,370 | €1,923,227 | +€121,857 | +6.8% |
| Contributions | 10/11 | €1,533,225 | €1,533,225 | = | 0.0% |
| Reserves | 13 | €268,145 | €390,002 | +€121,857 | +45.4% |
| Distributable reserves | 133 | €268,145 | €390,002 | +€121,857 | +45.4% |
| Amounts payable | 17/49 | €4,245,507 | €3,997,499 | -€248,008 | -5.8% |
| Amounts payable after more than one year | 17 | €3,853,441 | €3,612,109 | -€241,332 | -6.3% |
| Financial debts | 170/4 | €3,853,441 | €3,612,109 | -€241,332 | -6.3% |
| Amounts payable within one year | 42/48 | €339,018 | €358,780 | +€19,762 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €241,332 | €241,332 | = | 0.0% |
| Trade debts | 44 | €900 | €3,183 | +€2,283 | +254% |
| Suppliers | 440/4 | €900 | €3,183 | +€2,283 | +254% |
| Taxes, remuneration and social security | 45 | - | €2,711 | +€2,711 | |
| Taxes | 450/3 | - | €2,711 | +€2,711 | |
| Other amounts payable | 47/48 | €96,786 | €111,554 | +€14,769 | +15.3% |
| Accrued charges and deferred income | 492/3 | €53,048 | €26,610 | -€26,438 | -49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,066 | €162,483 | +€1,417 | +0.9% |
| Other operating charges | 640/8 | €16,860 | €21,835 | +€4,974 | +29.5% |
| Gross operating margin | 9900 | €418,728 | €425,165 | +€6,437 | +1.5% |
| Operating profit (loss) | 9901 | €240,801 | €240,847 | +€45 | 0.0% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €79,618 | €76,279 | -€3,339 | -4.2% |
| Recurring financial charges | 65 | €79,618 | €76,279 | -€3,339 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €161,189 | €164,568 | +€3,379 | +2.1% |
| Income taxes | 67/77 | €41,961 | €42,711 | +€750 | +1.8% |
| Profit (loss) for the period | 9904 | €119,228 | €121,857 | +€2,629 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €119,228 | €121,857 | +€2,629 | +2.2% |
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 3 November 2026 via checked.be.