VALAREZO: 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.
VALAREZO
Largest movements
- Cash +€23,527
up €23,527 (+699.8%), from €3,362 to €26,889
mainly Net result for the year (+€27,523) and Trade debts (+€5,648)
- Tangible fixed assets +€7,484
up €7,484 (+75.6%), from €9,900 to €17,384
of which Furniture and vehicles: +€8,377
- Stocks and contracts +€1,227
new in 2025: €1,227
- Receivables within one year -€737
no longer reported in 2025 (was €737)
- Profit (loss) carried forward +€27,523
up €27,523 (+44.8%), from -€61,466 to -€33,942
- Trade debts +€5,648
up €5,648 (+101.8%), from €5,545 to €11,193
- Other debts -€2,970
down €2,970 (-5.3%), from €55,785 to €52,815
- Tax, wage and social debts +€1,299
up €1,299 (+142.8%), from €910 to €2,209
- Gross operating margin +€43,229
up €43,229, from -€4,392 to €38,837
- Other operating charges +€3,201
up €3,201 (+95.5%), from €3,351 to €6,552
- Depreciation +€3,023
up €3,023 (+163.8%), from €1,846 to €4,869
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 | €13,999 | €45,500 | +€31,501 | +225.0% |
| Fixed assets | 21/28 | €9,900 | €17,384 | +€7,484 | +75.6% |
| Tangible fixed assets | 22/27 | €9,900 | €17,384 | +€7,484 | +75.6% |
| Land and buildings | 22 | €5,341 | €4,438 | -€903 | -16.9% |
| Plant, machinery and equipment | 23 | €4,559 | €4,569 | +€10 | +0.2% |
| Furniture and vehicles | 24 | - | €8,377 | +€8,377 | |
| Current assets | 29/58 | €4,099 | €28,116 | +€24,017 | +585.9% |
| Stocks and contracts in progress | 3 | - | €1,227 | +€1,227 | |
| Contracts in progress | 37 | - | €1,227 | +€1,227 | |
| Amounts receivable within one year | 40/41 | €737 | - | -€737 | |
| Other amounts receivable | 41 | €737 | - | -€737 | |
| Cash at bank and in hand | 54/58 | €3,362 | €26,889 | +€23,527 | +699.8% |
| Total equity and liabilities | 10/49 | €13,999 | €45,500 | +€31,501 | +225.0% |
| Equity | 10/15 | -€48,241 | -€20,717 | +€27,523 | +57.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €825 | €825 | = | 0.0% |
| Distributable reserves | 133 | €825 | €825 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,466 | -€33,942 | +€27,523 | +44.8% |
| Amounts payable | 17/49 | €62,240 | €66,217 | +€3,977 | +6.4% |
| Amounts payable within one year | 42/48 | €62,240 | €66,217 | +€3,977 | +6.4% |
| Trade debts | 44 | €5,545 | €11,193 | +€5,648 | +101.8% |
| Suppliers | 440/4 | €5,545 | €11,193 | +€5,648 | +101.8% |
| Taxes, remuneration and social security | 45 | €910 | €2,209 | +€1,299 | +142.8% |
| Taxes | 450/3 | €910 | €2,209 | +€1,299 | +142.8% |
| Other amounts payable | 47/48 | €55,785 | €52,815 | -€2,970 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,846 | €4,869 | +€3,023 | +163.8% |
| Other operating charges | 640/8 | €3,351 | €6,552 | +€3,201 | +95.5% |
| Gross operating margin | 9900 | -€4,392 | €38,837 | +€43,229 | |
| Operating profit (loss) | 9901 | -€9,589 | €27,416 | +€37,005 | |
| Financial income | 75/76B | €30 | €410 | +€380 | +1268.2% |
| Recurring financial income | 75 | €30 | €410 | +€380 | +1268.2% |
| Financial charges | 65/66B | €482 | €303 | -€179 | -37.2% |
| Recurring financial charges | 65 | €482 | €303 | -€179 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,041 | €27,523 | +€37,564 | |
| Profit (loss) for the period | 9904 | -€10,041 | €27,523 | +€37,564 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,041 | €27,523 | +€37,564 |
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 6 October 2026 via checked.be.