ValCoRi: 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.
ValCoRi
Largest movements
- Intangible fixed assets -€67,676
down €67,676 (-97.5%), from €69,413 to €1,737
- Cash -€8,925
down €8,925 (-62.1%), from €14,383 to €5,458
mainly Net result for the year (-€97,491) and Tax, wage and social debts (-€5,443)
- Deferred charges and accrued income +€5,192
new in 2025: €5,192
- Receivables within one year +€1,706
up €1,706 (+65.5%), from €2,603 to €4,309
of which Other amounts receivable: +€1,585
- Profit (loss) carried forward -€97,491
down €97,491 (-57.5%), from -€169,416 to -€266,907
- Contributions +€19,997
up €19,997 (+8.0%), from €250,003 to €270,000
- Trade debts +€13,472
up €13,472 (+135,538%), from €10 to €13,482
- Tax, wage and social debts -€5,443
no longer reported in 2025 (was €5,443)
- Gross operating margin -€225,961
down €225,961, from €196,688 to -€29,272
- Depreciation -€47,287
down €47,287 (-41.1%), from €114,962 to €67,676
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 | €86,398 | €16,695 | -€69,703 | -80.7% |
| Fixed assets | 21/28 | €69,413 | €1,737 | -€67,676 | -97.5% |
| Intangible fixed assets | 21 | €69,413 | €1,737 | -€67,676 | -97.5% |
| Current assets | 29/58 | €16,986 | €14,958 | -€2,028 | -11.9% |
| Amounts receivable within one year | 40/41 | €2,603 | €4,309 | +€1,706 | +65.5% |
| Trade receivables | 40 | €120 | €241 | +€121 | +101% |
| Other amounts receivable | 41 | €2,483 | €4,068 | +€1,585 | +63.8% |
| Cash at bank and in hand | 54/58 | €14,383 | €5,458 | -€8,925 | -62.1% |
| Deferred charges and accrued income | 490/1 | - | €5,192 | +€5,192 | |
| Total equity and liabilities | 10/49 | €86,398 | €16,695 | -€69,703 | -80.7% |
| Equity | 10/15 | €80,587 | €3,093 | -€77,494 | -96.2% |
| Contributions | 10/11 | €250,003 | €270,000 | +€19,997 | +8.0% |
| Profit (loss) carried forward | 14 | -€169,416 | -€266,907 | -€97,491 | -57.5% |
| Amounts payable | 17/49 | €5,812 | €13,602 | +€7,791 | +134% |
| Amounts payable within one year | 42/48 | €5,812 | €13,602 | +€7,791 | +134% |
| Financial debts | 43 | €359 | €120 | -€239 | -66.5% |
| Credit institutions | 430/8 | €359 | €120 | -€239 | -66.5% |
| Trade debts | 44 | €10 | €13,482 | +€13,472 | +135,538% |
| Suppliers | 440/4 | €10 | €13,482 | +€13,472 | +135,538% |
| Taxes, remuneration and social security | 45 | €5,443 | - | -€5,443 | |
| Taxes | 450/3 | €5,443 | - | -€5,443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,962 | €67,676 | -€47,287 | -41.1% |
| Other operating charges | 640/8 | €387 | €411 | +€24 | +6.2% |
| Gross operating margin | 9900 | €196,688 | -€29,272 | -€225,961 | |
| Operating profit (loss) | 9901 | €81,338 | -€97,359 | -€178,698 | |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | -€47 | €132 | +€178 | |
| Recurring financial charges | 65 | -€47 | €132 | +€178 | |
| Profit (loss) for the period before taxes | 9903 | €81,407 | -€97,491 | -€178,897 | |
| Profit (loss) for the period | 9904 | €81,407 | -€97,491 | -€178,897 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,407 | -€97,491 | -€178,897 |
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 17 October 2026 via checked.be.