VALER: 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.
VALER
Largest movements
- Current investments +€70,000
new in 2024: €70,000
- Tangible fixed assets -€24,932
down €24,932 (-8.7%), from €286,400 to €261,469
of which Furniture and vehicles: -€16,742
- Receivables within one year -€23,818
down €23,818 (-86.7%), from €27,460 to €3,642
of which Trade receivables: -€16,318
- Cash -€9,594
down €9,594 (-8.1%), from €118,377 to €108,783
mainly Current investments (-€70,000) and Debts after one year (-€24,947)
- Reserves +€60,401
up €60,401 (+80.2%), from €75,271 to €135,672
- Debts after one year -€24,947
down €24,947 (-9.4%), from €265,442 to €240,495
- Other debts -€13,650
down €13,650 (-59.5%), from €22,955 to €9,306
- Tax, wage and social debts -€11,737
down €11,737 (-53.5%), from €21,950 to €10,212
- Gross operating margin +€25,987
up €25,987 (+28.7%), from €90,519 to €116,506
- Taxes +€9,548
up €9,548 (+71.8%), from €13,307 to €22,855
- Depreciation +€4,266
up €4,266 (+20.6%), from €20,666 to €24,932
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €434,470 | €445,893 | +€11,422 | +2.6% |
| Fixed assets | 21/28 | €286,400 | €261,469 | -€24,932 | -8.7% |
| Tangible fixed assets | 22/27 | €286,400 | €261,469 | -€24,932 | -8.7% |
| Land and buildings | 22 | €239,772 | €234,469 | -€5,303 | -2.2% |
| Plant, machinery and equipment | 23 | €8,878 | €5,992 | -€2,886 | -32.5% |
| Furniture and vehicles | 24 | €37,751 | €21,008 | -€16,742 | -44.3% |
| Current assets | 29/58 | €148,070 | €184,424 | +€36,354 | +24.6% |
| Amounts receivable within one year | 40/41 | €27,460 | €3,642 | -€23,818 | -86.7% |
| Trade receivables | 40 | €19,960 | €3,642 | -€16,318 | -81.8% |
| Other amounts receivable | 41 | €7,500 | - | -€7,500 | |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €118,377 | €108,783 | -€9,594 | -8.1% |
| Deferred charges and accrued income | 490/1 | €2,234 | €2,000 | -€234 | -10.5% |
| Total equity and liabilities | 10/49 | €434,470 | €445,893 | +€11,422 | +2.6% |
| Equity | 10/15 | €93,871 | €154,272 | +€60,401 | +64.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,271 | €135,672 | +€60,401 | +80.2% |
| Distributable reserves | 133 | €75,271 | €135,672 | +€60,401 | +80.2% |
| Amounts payable | 17/49 | €340,600 | €291,621 | -€48,979 | -14.4% |
| Amounts payable after more than one year | 17 | €265,442 | €240,495 | -€24,947 | -9.4% |
| Financial debts | 170/4 | €265,442 | €240,495 | -€24,947 | -9.4% |
| Amounts payable within one year | 42/48 | €73,699 | €48,518 | -€25,181 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €24,209 | €24,947 | +€737 | +3.0% |
| Trade debts | 44 | €4,585 | €4,053 | -€532 | -11.6% |
| Suppliers | 440/4 | €4,585 | €4,053 | -€532 | -11.6% |
| Taxes, remuneration and social security | 45 | €21,950 | €10,212 | -€11,737 | -53.5% |
| Taxes | 450/3 | €21,950 | €10,212 | -€11,737 | -53.5% |
| Other amounts payable | 47/48 | €22,955 | €9,306 | -€13,650 | -59.5% |
| Accrued charges and deferred income | 492/3 | €1,459 | €2,608 | +€1,149 | +78.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,666 | €24,932 | +€4,266 | +20.6% |
| Other operating charges | 640/8 | €2,325 | €2,253 | -€72 | -3.1% |
| Gross operating margin | 9900 | €90,519 | €116,506 | +€25,987 | +28.7% |
| Operating profit (loss) | 9901 | €67,529 | €89,321 | +€21,792 | +32.3% |
| Financial income | 75/76B | €333 | €6 | -€327 | -98.2% |
| Recurring financial income | 75 | €333 | €6 | -€327 | -98.2% |
| Financial charges | 65/66B | €5,136 | €5,170 | +€34 | +0.7% |
| Recurring financial charges | 65 | €5,136 | €5,170 | +€34 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €62,725 | €84,157 | +€21,431 | +34.2% |
| Income taxes | 67/77 | €13,307 | €22,855 | +€9,548 | +71.8% |
| Profit (loss) for the period | 9904 | €49,418 | €61,301 | +€11,883 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,418 | €61,301 | +€11,883 | +24.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.