VALMAR: 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.
VALMAR
Largest movements
- Cash +€6,219
up €6,219 (+8.9%), from €70,261 to €76,479
mainly Net result for the year (+€4,719) and Depreciation (+€3,789)
- Tangible fixed assets -€3,789
down €3,789 (-15.8%), from €24,055 to €20,265
- Profit (loss) carried forward +€4,719
up €4,719 (+93.4%), from -€5,052 to -€333
- Tax, wage and social debts -€1,814
down €1,814 (-51.4%), from €3,532 to €1,718
- Other debts -€1,000
down €1,000 (-21.7%), from €4,602 to €3,602
- Gross operating margin -€9,049
down €9,049 (-44.9%), from €20,131 to €11,082
- Financial income +€2,761
up €2,761 (+6,040%), from €46 to €2,807
- Taxes -€1,814
down €1,814 (-51.4%), from €3,532 to €1,718
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 | €95,081 | €97,517 | +€2,436 | +2.6% |
| Fixed assets | 21/28 | €24,055 | €20,265 | -€3,789 | -15.8% |
| Tangible fixed assets | 22/27 | €24,055 | €20,265 | -€3,789 | -15.8% |
| Other tangible fixed assets | 26 | €24,055 | €20,265 | -€3,789 | -15.8% |
| Current assets | 29/58 | €71,026 | €77,252 | +€6,225 | +8.8% |
| Cash at bank and in hand | 54/58 | €70,261 | €76,479 | +€6,219 | +8.9% |
| Deferred charges and accrued income | 490/1 | €766 | €772 | +€7 | +0.9% |
| Total equity and liabilities | 10/49 | €95,081 | €97,517 | +€2,436 | +2.6% |
| Equity | 10/15 | €83,690 | €88,409 | +€4,719 | +5.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €26,742 | €26,742 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €23,643 | €23,643 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,052 | -€333 | +€4,719 | +93.4% |
| Amounts payable | 17/49 | €11,391 | €9,108 | -€2,283 | -20.0% |
| Amounts payable within one year | 42/48 | €11,391 | €9,108 | -€2,283 | -20.0% |
| Trade debts | 44 | €3,257 | €3,788 | +€531 | +16.3% |
| Suppliers | 440/4 | €3,257 | €3,788 | +€531 | +16.3% |
| Taxes, remuneration and social security | 45 | €3,532 | €1,718 | -€1,814 | -51.4% |
| Taxes | 450/3 | €3,532 | €1,718 | -€1,814 | -51.4% |
| Other amounts payable | 47/48 | €4,602 | €3,602 | -€1,000 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,789 | €3,789 | = | 0.0% |
| Other operating charges | 640/8 | €3,381 | €3,557 | +€176 | +5.2% |
| Gross operating margin | 9900 | €20,131 | €11,082 | -€9,049 | -44.9% |
| Operating profit (loss) | 9901 | €12,961 | €3,736 | -€9,225 | -71.2% |
| Financial income | 75/76B | €46 | €2,807 | +€2,761 | +6,040% |
| Recurring financial income | 75 | €46 | €2,807 | +€2,761 | +6,040% |
| Financial charges | 65/66B | €45 | €105 | +€60 | +133% |
| Recurring financial charges | 65 | €45 | €105 | +€60 | +133% |
| Profit (loss) for the period before taxes | 9903 | €12,962 | €6,437 | -€6,524 | -50.3% |
| Income taxes | 67/77 | €3,532 | €1,718 | -€1,814 | -51.4% |
| Profit (loss) for the period | 9904 | €9,430 | €4,719 | -€4,710 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,430 | €4,719 | -€4,710 | -50.0% |
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 13 October 2026 via checked.be.