VALENRI: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
VALENRI
Largest movements
- Cash +€63,815
up €63,815 (+44.7%), from €142,854 to €206,669
mainly Net result for the year (+€98,567) and Other debts (+€63,825)
- Other debts +€63,825
up €63,825 (+28.1%), from €226,854 to €290,679
- Gross operating margin -€40,628
down €40,628 (-23.8%), from €170,518 to €129,891
- Taxes -€9,769
down €9,769 (-26.3%), from €37,203 to €27,435
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €255,026 | €317,494 | +€62,468 | +24.5% |
| Fixed assets | 21/28 | €8,983 | €6,788 | -€2,195 | -24.4% |
| Tangible fixed assets | 22/27 | €8,983 | €6,788 | -€2,195 | -24.4% |
| Furniture and vehicles | 24 | €8,983 | €6,788 | -€2,195 | -24.4% |
| Current assets | 29/58 | €246,042 | €310,705 | +€64,663 | +26.3% |
| Amounts receivable within one year | 40/41 | €1,797 | €4,036 | +€2,240 | +125% |
| Other amounts receivable | 41 | €1,797 | €4,036 | +€2,240 | +125% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €142,854 | €206,669 | +€63,815 | +44.7% |
| Deferred charges and accrued income | 490/1 | €1,392 | - | -€1,392 | |
| Total equity and liabilities | 10/49 | €255,026 | €317,494 | +€62,468 | +24.5% |
| Equity | 10/15 | €19,118 | €19,118 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €518 | €518 | = | 0.0% |
| Distributable reserves | 133 | €518 | €518 | = | 0.0% |
| Amounts payable | 17/49 | €235,908 | €298,376 | +€62,468 | +26.5% |
| Amounts payable within one year | 42/48 | €235,908 | €298,376 | +€62,468 | +26.5% |
| Trade debts | 44 | €3,532 | €1,552 | -€1,980 | -56.1% |
| Suppliers | 440/4 | €3,532 | €1,552 | -€1,980 | -56.1% |
| Taxes, remuneration and social security | 45 | €5,522 | €6,145 | +€624 | +11.3% |
| Taxes | 450/3 | €5,522 | €6,145 | +€624 | +11.3% |
| Other amounts payable | 47/48 | €226,854 | €290,679 | +€63,825 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,066 | €2,195 | +€129 | +6.2% |
| Other operating charges | 640/8 | €442 | €480 | +€37 | +8.5% |
| Gross operating margin | 9900 | €170,518 | €129,891 | -€40,628 | -23.8% |
| Operating profit (loss) | 9901 | €168,010 | €127,216 | -€40,794 | -24.3% |
| Financial income | 75/76B | - | €542 | +€542 | |
| Recurring financial income | 75 | - | €542 | +€542 | |
| Financial charges | 65/66B | €1,799 | €1,756 | -€43 | -2.4% |
| Recurring financial charges | 65 | €1,799 | €1,756 | -€43 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €166,211 | €126,002 | -€40,209 | -24.2% |
| Income taxes | 67/77 | €37,203 | €27,435 | -€9,769 | -26.3% |
| Profit (loss) for the period | 9904 | €129,008 | €98,567 | -€30,440 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €129,008 | €98,567 | -€30,440 | -23.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.