Valurus: what changed
What changed
Valurus
NACE 69.203, Activities of company auditors
filed 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%), from €7.1m to €19.4m
of which Affiliated companies: +€12.8m
Equity and liabilities
- Reserves +€14.5m
up €14.5m (+394%), 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 (+125,316%), 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
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
€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
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
+€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
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,822,375 | €19,867,740 | +€12.0m | +154% |
| Fixed assets | 21/28 | €7,201,298 | €19,507,425 | +€12.3m | +171% |
| 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% |
| Affiliated companies | 280/1 | €6,414,427 | €19,203,686 | +€12.8m | +199% |
| Participating interests | 280 | €6,414,427 | €19,203,686 | +€12.8m | +199% |
| 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% |
| 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% |
| Equity | 10/15 | €5,590,303 | €18,250,666 | +€12.7m | +226% |
| 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% |
| Tax-exempt reserves | 132 | €383,110 | €168,400 | -€214,710 | -56.0% |
| Distributable reserves | 133 | €3,288,129 | €17,970,993 | +€14.7m | +447% |
| 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% |
| 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 | +1,446% |
| Suppliers | 440/4 | €2,382 | €36,832 | +€34,449 | +1,446% |
| 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 | +125,316% |
| 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% |
| 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 | +1,543% |
| 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% |
| Profit (loss) for the period | 9904 | €666,683 | €14,468,154 | +€13.8m | +2,070% |
| 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 | +1,623% |
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 5 November 2026 via checked.be.