VALAURE: 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.
VALAURE
Largest movements
- Cash +€94,811
up €94,811 (+45.9%), from €206,507 to €301,318
mainly Net result for the year (+€175,674) and Other debts (+€138,000)
- Receivables within one year +€67,464
up €67,464 (+35.4%), from €190,306 to €257,770
of which Trade receivables: +€65,464
- Tangible fixed assets -€8,171
down €8,171 (-25.9%), from €31,594 to €23,423
- Other debts +€138,000
up €138,000 (+920.0%), from €15,000 to €153,000
- Accrued charges and deferred income +€28,628
up €28,628, from €0 to €28,628
- Trade debts -€22,616
down €22,616 (-7.5%), from €299,816 to €277,201
- Tax, wage and social debts +€20,936
up €20,936 (+28.8%), from €72,620 to €93,555
of which Remuneration and social security: +€10,493
- Debts after one year -€13,690
down €13,690 (-37.5%), from €36,543 to €22,853
- Gross operating margin +€272,979
up €272,979 (+69.1%), from €395,256 to €668,236
- Staff costs +€86,653
up €86,653 (+27.1%), from €320,013 to €406,666
- Taxes +€58,999
up €58,999 (+921.3%), from €6,404 to €65,403
- Financial income +€8,899
up €8,899 (+2379.2%), from €374 to €9,273
of which Non-recurring financial income: +€8,042
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 | €447,579 | €592,626 | +€145,047 | +32.4% |
| Fixed assets | 21/28 | €45,625 | €32,259 | -€13,365 | -29.3% |
| Intangible fixed assets | 21 | €13,131 | €7,936 | -€5,195 | -39.6% |
| Tangible fixed assets | 22/27 | €31,594 | €23,423 | -€8,171 | -25.9% |
| Furniture and vehicles | 24 | €31,594 | €23,423 | -€8,171 | -25.9% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €401,954 | €560,366 | +€158,412 | +39.4% |
| Amounts receivable within one year | 40/41 | €190,306 | €257,770 | +€67,464 | +35.4% |
| Trade receivables | 40 | €190,306 | €255,770 | +€65,464 | +34.4% |
| Other amounts receivable | 41 | €0 | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €206,507 | €301,318 | +€94,811 | +45.9% |
| Deferred charges and accrued income | 490/1 | €5,140 | €1,278 | -€3,862 | -75.1% |
| Total equity and liabilities | 10/49 | €447,579 | €592,626 | +€145,047 | +32.4% |
| Equity | 10/15 | €8,025 | €3,699 | -€4,326 | -53.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,800 | €2,699 | +€899 | +49.9% |
| Distributable reserves | 133 | €1,800 | €2,699 | +€899 | +49.9% |
| Profit (loss) carried forward | 14 | €5,225 | €0 | -€5,225 | -100.0% |
| Amounts payable | 17/49 | €439,553 | €588,927 | +€149,373 | +34.0% |
| Amounts payable after more than one year | 17 | €36,543 | €22,853 | -€13,690 | -37.5% |
| Financial debts | 170/4 | €36,543 | €22,853 | -€13,690 | -37.5% |
| Amounts payable within one year | 42/48 | €403,011 | €537,446 | +€134,435 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €15,575 | €13,690 | -€1,885 | -12.1% |
| Trade debts | 44 | €299,816 | €277,201 | -€22,616 | -7.5% |
| Suppliers | 440/4 | €299,816 | €277,201 | -€22,616 | -7.5% |
| Taxes, remuneration and social security | 45 | €72,620 | €93,555 | +€20,936 | +28.8% |
| Taxes | 450/3 | €37,724 | €48,167 | +€10,443 | +27.7% |
| Remuneration and social security | 454/9 | €34,896 | €45,389 | +€10,493 | +30.1% |
| Other amounts payable | 47/48 | €15,000 | €153,000 | +€138,000 | +920.0% |
| Accrued charges and deferred income | 492/3 | €0 | €28,628 | +€28,628 | |
| Remuneration, social security and pensions | 62 | €320,013 | €406,666 | +€86,653 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,633 | €17,247 | -€1,386 | -7.4% |
| Other operating charges | 640/8 | €1,847 | €1,913 | +€67 | +3.6% |
| Non-recurring operating charges | 66A | €15,858 | €0 | -€15,858 | -100.0% |
| Gross operating margin | 9900 | €395,256 | €668,236 | +€272,979 | +69.1% |
| Operating profit (loss) | 9901 | €38,906 | €242,409 | +€203,503 | +523.1% |
| Financial income | 75/76B | €374 | €9,273 | +€8,899 | +2379.2% |
| Recurring financial income | 75 | €374 | €1,231 | +€857 | +229.0% |
| Non-recurring financial income | 76B | - | €8,042 | +€8,042 | |
| Financial charges | 65/66B | €13,490 | €10,606 | -€2,884 | -21.4% |
| Recurring financial charges | 65 | €13,490 | €10,606 | -€2,884 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €25,790 | €241,076 | +€215,286 | +834.8% |
| Income taxes | 67/77 | €6,404 | €65,403 | +€58,999 | +921.3% |
| Profit (loss) for the period | 9904 | €19,386 | €175,674 | +€156,287 | +806.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,386 | €175,674 | +€156,287 | +806.2% |
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 12 October 2026 via checked.be.