VALARD ELEC: what changed
Two fiscal 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.
VALARD ELEC
Largest movements
- Cash +€17,737
up €17,737 (+39.3%), from €45,169 to €62,906
mainly Net result for the year (+€7,607) and Investment in fixed assets (net) (+€7,500)
- Tangible fixed assets -€10,529
down €10,529 (-62.7%), from €16,781 to €6,252
of which Furniture and vehicles: -€8,406
- Deferred charges and accrued income -€1,032
down €1,032 (-84.0%), from €1,227 to €196
- Profit (loss) carried forward +€7,607
new in 2025: €7,607
- Trade debts -€1,546
no longer reported in 2025 (was €1,546)
- Gross operating margin -€9,807
down €9,807 (-29.7%), from €33,076 to €23,268
- Taxes -€4,378
down €4,378 (-69.9%), from €6,261 to €1,884
- Other operating charges +€4,234
up €4,234 (+549.9%), from €770 to €5,004
- Depreciation -€3,563
down €3,563 (-54.1%), from €6,592 to €3,029
- Staff costs +€3,206
up €3,206 (+121.3%), from €2,643 to €5,849
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.
Cash bridge derived
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 | €75,327 | €81,899 | +€6,572 | +8.7% |
| Fixed assets | 21/28 | €16,781 | €6,252 | -€10,529 | -62.7% |
| Tangible fixed assets | 22/27 | €16,781 | €6,252 | -€10,529 | -62.7% |
| Plant, machinery and equipment | 23 | €6,936 | €4,813 | -€2,123 | -30.6% |
| Furniture and vehicles | 24 | €9,844 | €1,438 | -€8,406 | -85.4% |
| Current assets | 29/58 | €58,547 | €75,647 | +€17,100 | +29.2% |
| Amounts receivable within one year | 40/41 | €12,150 | €12,545 | +€395 | +3.3% |
| Trade receivables | 40 | €2,817 | €9,070 | +€6,253 | +222.0% |
| Other amounts receivable | 41 | €9,333 | €3,475 | -€5,858 | -62.8% |
| Cash at bank and in hand | 54/58 | €45,169 | €62,906 | +€17,737 | +39.3% |
| Deferred charges and accrued income | 490/1 | €1,227 | €196 | -€1,032 | -84.0% |
| Total equity and liabilities | 10/49 | €75,327 | €81,899 | +€6,572 | +8.7% |
| Equity | 10/15 | €56,239 | €63,847 | +€7,607 | +13.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €51,239 | €51,239 | = | 0.0% |
| Distributable reserves | 133 | €51,239 | €51,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €7,607 | +€7,607 | |
| Amounts payable | 17/49 | €19,088 | €18,052 | -€1,036 | -5.4% |
| Amounts payable within one year | 42/48 | €19,088 | €18,052 | -€1,036 | -5.4% |
| Trade debts | 44 | €1,546 | - | -€1,546 | |
| Suppliers | 440/4 | €1,546 | - | -€1,546 | |
| Taxes, remuneration and social security | 45 | €4,256 | €4,500 | +€244 | +5.7% |
| Taxes | 450/3 | €4,256 | €4,500 | +€244 | +5.7% |
| Other amounts payable | 47/48 | €13,287 | €13,553 | +€266 | +2.0% |
| Remuneration, social security and pensions | 62 | €2,643 | €5,849 | +€3,206 | +121.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,592 | €3,029 | -€3,563 | -54.1% |
| Other operating charges | 640/8 | €770 | €5,004 | +€4,234 | +549.9% |
| Gross operating margin | 9900 | €33,076 | €23,268 | -€9,807 | -29.7% |
| Operating profit (loss) | 9901 | €23,071 | €9,386 | -€13,685 | -59.3% |
| Financial income | 75/76B | €24 | €205 | +€181 | +752.0% |
| Recurring financial income | 75 | €24 | €205 | +€181 | +752.0% |
| Financial charges | 65/66B | €153 | €100 | -€53 | -34.8% |
| Recurring financial charges | 65 | €153 | €100 | -€53 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €22,942 | €9,491 | -€13,451 | -58.6% |
| Income taxes | 67/77 | €6,261 | €1,884 | -€4,378 | -69.9% |
| Profit (loss) for the period | 9904 | €16,680 | €7,607 | -€9,073 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,680 | €7,607 | -€9,073 | -54.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.