Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 61 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VAL-R from Brussel, company number BE0743582402, closed financial year 2025 with a result of € 22,827 after tax. For that financial year VAL-R recorded a gross margin of € 546,713 and equity of € 59,920. Compared with financial year 2024, the result moved from € 4,538 to € 22,827. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 30, 2026.
€ 59,920
▲ 45% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 22,827
▲ € 18,289 vs 2024
Profit after tax over the fiscal year.
€ 305,920
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -23,004.
People and assets in 2025
12.2
▼ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 433,200
▼ 8% vs 2024
€ 35,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 4,400
▲ 59% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 142,592
▼ 23% vs 2024
€ 30,053 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 427,012
▼ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 69,005
▼ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 379,963 | € 489,432 | € 555,543 | € 546,713 | ▼ 2% |
| Profit after taxes | € 13,673 | € 16,236 | € 4,538 | € 22,827 | ▲ € 18,289 |
| Equity | € 28,873 | € 40,925 | € 41,278 | € 59,920 | ▲ 45% |
| Total debts | € 694,627 | € 775,131 | € 858,948 | € 664,187 | ▼ 23% |
| Cash | € 264,839 | € 387,236 | € 361,003 | € 305,920 | ▼ 15% |
| Land & buildings | - | - | € 115,554 | € 108,538 | ▼ 6% |
| Retained profit | € -66,605 | € -50,369 | € -45,831 | € -23,004 | ▲ € 22,827 |
| Bank debt | € 157,545 | € 116,650 | € 184,871 | € 142,592 | ▼ 23% |
| Balance sheet total | € 723,500 | € 816,056 | € 900,226 | € 724,107 | ▼ 20% |
| Employees (FTE) | 9.8 | 11.5 | 12.9 | 12.2 | ▼ 0.7 |
Key figures of VAL-R, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to VAL-R?
What happened at VAL-R in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 22,827 (▲ € 18,289 vs 2024). Source: NBB ↗
- New establishment in Brussel. KBO
- Omar Kannoui became a director. NBB
- Ruben Da Costa Silva became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 13,673 profit in 2022 to € 22,827 profit in 2025.
Paid € 1,107 in corporate taxes since 2022.
Best year ever: 2025, with € 22,827 profit.
On average € 44,800 of value added per employee in 2025.
Management
Behind VAL-R are DA COSTA R MANAGEMENT SRL, KF MANAGEMENT SRL, Omar Kannoui and Ruben Da Costa Silva. The same people are also behind EASY BREAK. DA COSTA R MANAGEMENT SRL is also behind EXPRESS LIVINGSTONE and TWINS 2017. KF MANAGEMENT SRL is also behind TWINS 2017. Omar Kannoui is also behind DA COSTA-R MANAGEMENT, KF MANAGEMENT and MERODE EXPRESS. Ruben Da Costa Silva is also behind EXPRESS LIVINGSTONE, DA COSTA-R MANAGEMENT and MERODE EXPRESS.
Directors
According to the 2025 annual accounts
Director · represented by Ruben Da Costa Silva
Also active at: EXPRESS LIVINGSTONE, TWINS 2017, EASY BREAK
Omar Kannoui
Managing director
Also active at: DA COSTA-R MANAGEMENT, KF MANAGEMENT, MERODE EXPRESS, EASY BREAK
since 2020
Ruben Da Costa Silva
Managing director
Also active at: EXPRESS LIVINGSTONE, DA COSTA-R MANAGEMENT, MERODE EXPRESS, EASY BREAK
since 2020
Establishments
Establishment units
Physical locations of this company
Harenheidestraat 6
1130 Brussel
Etterbeeksesteenweg 27
1040 Brussel
Active since 12 February 2020
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0743.582.402
- VAT number
- BE 0743.582.402
- Registered office
- Harenheidestraat 6, 1130 Brussel
- Names & denominations
- VAL-R
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 February 2020
- Peppol
- Active · Active since 2 Jan 2026
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 400 m² en minder dan 2500 m²)