2Valorise Ham: 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.
2Valorise Ham
Largest movements
- Cash -€16,208
down €16,208 (-76.1%), from €21,293 to €5,085
mainly Net result for the year (-€953,847) and Investment in fixed assets (net) (-€4,628)
- Stocks and contracts -€12,260
down €12,260 (-2.0%), from €608,331 to €596,070
- Receivables within one year -€9,651
down €9,651 (-20.9%), from €46,113 to €36,462
of which Other amounts receivable: -€13,833
- Profit (loss) carried forward -€953,847
down €953,847 (-8.2%), from -€11.7m to -€12.6m
- Debts after one year +€770,387
up €770,387 (+65.9%), from €1.2m to €1.9m
of which Other amounts payable: +€793,500
- Trade debts +€72,887
up €72,887 (+91.1%), from €79,977 to €152,864
- Accrued charges and deferred income +€69,784
up €69,784 (+64.7%), from €107,786 to €177,571
- Gross operating margin -€150,531
down €150,531 (-23.8%), from -€632,200 to -€782,732
- Write-downs -€143,742
down €143,742 (-100%), from €143,742 to €0
- Financial charges +€52,378
up €52,378 (+73.2%), from €71,556 to €123,934
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.
Derived cash bridge
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 | €689,821 | €650,884 | -€38,936 | -5.6% |
| Fixed assets | 21/28 | €12,571 | €11,779 | -€791 | -6.3% |
| Tangible fixed assets | 22/27 | €12,371 | €11,579 | -€791 | -6.4% |
| Plant, machinery and equipment | 23 | €4,426 | €8,138 | +€3,712 | +83.9% |
| Furniture and vehicles | 24 | €7,945 | €3,441 | -€4,504 | -56.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €677,250 | €639,105 | -€38,145 | -5.6% |
| Stocks and contracts in progress | 3 | €608,331 | €596,070 | -€12,260 | -2.0% |
| Stocks | 30/36 | €608,331 | €596,070 | -€12,260 | -2.0% |
| Amounts receivable within one year | 40/41 | €46,113 | €36,462 | -€9,651 | -20.9% |
| Trade receivables | 40 | €9,354 | €13,535 | +€4,182 | +44.7% |
| Other amounts receivable | 41 | €36,760 | €22,927 | -€13,833 | -37.6% |
| Cash at bank and in hand | 54/58 | €21,293 | €5,085 | -€16,208 | -76.1% |
| Deferred charges and accrued income | 490/1 | €1,513 | €1,487 | -€26 | -1.7% |
| Total equity and liabilities | 10/49 | €689,821 | €650,884 | -€38,936 | -5.6% |
| Equity | 10/15 | -€3,009,441 | -€3,963,288 | -€953,847 | -31.7% |
| Contributions | 10/11 | €8,568,620 | €8,568,620 | = | 0.0% |
| Capital | 10 | €8,568,620 | €8,568,620 | = | 0.0% |
| Issued capital | 100 | €8,568,620 | €8,568,620 | = | 0.0% |
| Reserves | 13 | €109,220 | €109,220 | = | 0.0% |
| Non-distributable reserves | 130/1 | €109,220 | €109,220 | = | 0.0% |
| Legal reserve | 130 | €109,220 | €109,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,687,281 | -€12,641,128 | -€953,847 | -8.2% |
| Amounts payable | 17/49 | €3,699,262 | €4,614,172 | +€914,910 | +24.7% |
| Amounts payable after more than one year | 17 | €1,168,857 | €1,939,244 | +€770,387 | +65.9% |
| Financial debts | 170/4 | €613,857 | €590,744 | -€23,113 | -3.8% |
| Other amounts payable | 178/9 | €555,000 | €1,348,500 | +€793,500 | +143% |
| Amounts payable within one year | 42/48 | €2,422,619 | €2,497,358 | +€74,739 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €22,143 | €23,113 | +€970 | +4.4% |
| Financial debts | 43 | €813,000 | €813,000 | = | 0.0% |
| Other loans | 439 | €813,000 | €813,000 | = | 0.0% |
| Trade debts | 44 | €79,977 | €152,864 | +€72,887 | +91.1% |
| Suppliers | 440/4 | €79,977 | €152,864 | +€72,887 | +91.1% |
| Taxes, remuneration and social security | 45 | €1,507,498 | €1,508,381 | +€882 | +0.1% |
| Taxes | 450/3 | €1,500,924 | €1,501,224 | +€300 | 0.0% |
| Remuneration and social security | 454/9 | €6,574 | €7,157 | +€582 | +8.9% |
| Accrued charges and deferred income | 492/3 | €107,786 | €177,571 | +€69,784 | +64.7% |
| Remuneration, social security and pensions | 62 | €31,536 | €28,912 | -€2,624 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,696 | €5,419 | -€2,277 | -29.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €143,742 | €0 | -€143,742 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €13,712 | €13,117 | -€595 | -4.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€632,200 | -€782,732 | -€150,531 | -23.8% |
| Operating profit (loss) | 9901 | -€828,886 | -€830,179 | -€1,293 | -0.2% |
| Financial income | 75/76B | €1 | €266 | +€265 | +44,233% |
| Recurring financial income | 75 | €1 | €266 | +€265 | +44,233% |
| Financial charges | 65/66B | €71,556 | €123,934 | +€52,378 | +73.2% |
| Recurring financial charges | 65 | €71,556 | €123,934 | +€52,378 | +73.2% |
| Profit (loss) for the period before taxes | 9903 | -€900,441 | -€953,847 | -€53,405 | -5.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€900,441 | -€953,847 | -€53,405 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€900,441 | -€953,847 | -€53,405 | -5.9% |
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 16 October 2026 via checked.be.