Valerosa: 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.
Valerosa
Largest movements
- Tangible fixed assets -€51,576
down €51,576 (-12.1%), from €425,185 to €373,609
of which Plant, machinery and equipment: -€29,087
- Receivables within one year +€49,308
up €49,308 (+23.9%), from €206,409 to €255,717
of which Trade receivables: +€38,368
- Cash +€40,584
up €40,584 (+116.8%), from €34,734 to €75,318
mainly Trade debts (+€60,506) and Depreciation (+€55,763)
- Stocks and contracts +€11,065
up €11,065 (+27.3%), from €40,546 to €51,611
- Trade debts +€60,506
up €60,506 (+19.4%), from €311,395 to €371,902
- Debts after one year -€53,607
down €53,607 (-16.6%), from €322,814 to €269,207
- Profit (loss) carried forward +€35,130
up €35,130 (+41.7%), from -€84,287 to -€49,158
- Gross operating margin +€100,302
up €100,302 (+51.1%), from €196,435 to €296,737
- Other operating charges +€10,900
up €10,900 (+309.0%), from €3,528 to €14,428
- Staff costs +€9,399
up €9,399 (+5.8%), from €161,996 to €171,394
- Depreciation +€3,888
up €3,888 (+7.5%), from €51,875 to €55,763
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 | €722,678 | €768,867 | +€46,189 | +6.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €434,577 | €381,336 | -€53,241 | -12.3% |
| Intangible fixed assets | 21 | €2,792 | €1,127 | -€1,666 | -59.6% |
| Tangible fixed assets | 22/27 | €425,185 | €373,609 | -€51,576 | -12.1% |
| Land and buildings | 22 | €275,099 | €262,267 | -€12,833 | -4.7% |
| Plant, machinery and equipment | 23 | €121,324 | €92,237 | -€29,087 | -24.0% |
| Furniture and vehicles | 24 | €28,761 | €19,105 | -€9,656 | -33.6% |
| Financial fixed assets | 28 | €6,600 | €6,600 | = | 0.0% |
| Current assets | 29/58 | €288,101 | €387,531 | +€99,430 | +34.5% |
| Stocks and contracts in progress | 3 | €40,546 | €51,611 | +€11,065 | +27.3% |
| Stocks | 30/36 | €40,546 | €51,611 | +€11,065 | +27.3% |
| Amounts receivable within one year | 40/41 | €206,409 | €255,717 | +€49,308 | +23.9% |
| Trade receivables | 40 | €202,746 | €241,114 | +€38,368 | +18.9% |
| Other amounts receivable | 41 | €3,663 | €14,603 | +€10,940 | +298.7% |
| Cash at bank and in hand | 54/58 | €34,734 | €75,318 | +€40,584 | +116.8% |
| Deferred charges and accrued income | 490/1 | €6,412 | €4,886 | -€1,526 | -23.8% |
| Total equity and liabilities | 10/49 | €722,678 | €768,867 | +€46,189 | +6.4% |
| Equity | 10/15 | -€31,287 | €3,842 | +€35,130 | |
| Contributions | 10/11 | €53,000 | €53,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,287 | -€49,158 | +€35,130 | +41.7% |
| Amounts payable | 17/49 | €753,965 | €765,025 | +€11,059 | +1.5% |
| Amounts payable after more than one year | 17 | €322,814 | €269,207 | -€53,607 | -16.6% |
| Financial debts | 170/4 | €322,814 | €269,207 | -€53,607 | -16.6% |
| Amounts payable within one year | 42/48 | €431,152 | €495,817 | +€64,666 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €48,038 | €50,585 | +€2,547 | +5.3% |
| Trade debts | 44 | €311,395 | €371,902 | +€60,506 | +19.4% |
| Suppliers | 440/4 | €311,395 | €371,902 | +€60,506 | +19.4% |
| Taxes, remuneration and social security | 45 | €71,627 | €73,331 | +€1,704 | +2.4% |
| Taxes | 450/3 | €41,367 | €44,518 | +€3,151 | +7.6% |
| Remuneration and social security | 454/9 | €30,261 | €28,813 | -€1,447 | -4.8% |
| Other amounts payable | 47/48 | €91 | - | -€91 | |
| Remuneration, social security and pensions | 62 | €161,996 | €171,394 | +€9,399 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,875 | €55,763 | +€3,888 | +7.5% |
| Other operating charges | 640/8 | €3,528 | €14,428 | +€10,900 | +309.0% |
| Gross operating margin | 9900 | €196,435 | €296,737 | +€100,302 | +51.1% |
| Operating profit (loss) | 9901 | -€20,964 | €55,152 | +€76,115 | |
| Financial income | 75/76B | €10 | €13 | +€2 | +21.8% |
| Recurring financial income | 75 | €10 | €13 | +€2 | +21.8% |
| Financial charges | 65/66B | €20,308 | €20,034 | -€274 | -1.3% |
| Recurring financial charges | 65 | €20,308 | €20,034 | -€274 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | -€41,261 | €35,130 | +€76,391 | |
| Profit (loss) for the period | 9904 | -€41,261 | €35,130 | +€76,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,261 | €35,130 | +€76,391 |
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 3 October 2026 via checked.be.