Valopro: 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.
Valopro
Largest movements
- Stocks and contracts -€148,767
down €148,767 (-50.0%), from €297,573 to €148,807
- Cash +€50,146
up €50,146 (+321.1%), from €15,615 to €65,761
mainly Stocks and contracts (+€148,767) and Net result for the year (+€42,646)
- Receivables within one year -€7,444
down €7,444 (-26.9%), from €27,690 to €20,246
- Debts after one year -€74,000
no longer reported in 2025 (was €74,000)
- Other debts -€48,933
down €48,933 (-65.1%), from €75,156 to €26,224
- Reserves +€42,646
up €42,646 (+39.3%), from €108,643 to €151,289
- Trade debts -€23,642
down €23,642 (-90.1%), from €26,237 to €2,595
- Gross operating margin -€43,429
down €43,429 (-42.5%), from €102,276 to €58,847
- Financial charges -€12,229
down €12,229 (-93.8%), from €13,042 to €813
- Other operating charges -€8,339
down €8,339 (-92.4%), from €9,022 to €682
- Taxes -€2,137
down €2,137 (-12.7%), from €16,843 to €14,706
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 | €340,879 | €234,814 | -€106,065 | -31.1% |
| Current assets | 29/58 | €340,879 | €234,814 | -€106,065 | -31.1% |
| Stocks and contracts in progress | 3 | €297,573 | €148,807 | -€148,767 | -50.0% |
| Stocks | 30/36 | €297,573 | €148,807 | -€148,767 | -50.0% |
| Amounts receivable within one year | 40/41 | €27,690 | €20,246 | -€7,444 | -26.9% |
| Other amounts receivable | 41 | €27,690 | €20,246 | -€7,444 | -26.9% |
| Cash at bank and in hand | 54/58 | €15,615 | €65,761 | +€50,146 | +321.1% |
| Total equity and liabilities | 10/49 | €340,879 | €234,814 | -€106,065 | -31.1% |
| Equity | 10/15 | €148,643 | €191,289 | +€42,646 | +28.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €108,643 | €151,289 | +€42,646 | +39.3% |
| Distributable reserves | 133 | €108,643 | €151,289 | +€42,646 | +39.3% |
| Amounts payable | 17/49 | €192,236 | €43,525 | -€148,711 | -77.4% |
| Amounts payable after more than one year | 17 | €74,000 | - | -€74,000 | |
| Financial debts | 170/4 | €74,000 | - | -€74,000 | |
| Amounts payable within one year | 42/48 | €118,236 | €43,525 | -€74,711 | -63.2% |
| Trade debts | 44 | €26,237 | €2,595 | -€23,642 | -90.1% |
| Suppliers | 440/4 | €26,237 | €2,595 | -€23,642 | -90.1% |
| Taxes, remuneration and social security | 45 | €16,843 | €14,706 | -€2,137 | -12.7% |
| Taxes | 450/3 | €16,843 | €14,706 | -€2,137 | -12.7% |
| Other amounts payable | 47/48 | €75,156 | €26,224 | -€48,933 | -65.1% |
| Other operating charges | 640/8 | €9,022 | €682 | -€8,339 | -92.4% |
| Gross operating margin | 9900 | €102,276 | €58,847 | -€43,429 | -42.5% |
| Operating profit (loss) | 9901 | €93,255 | €58,165 | -€35,090 | -37.6% |
| Financial charges | 65/66B | €13,042 | €813 | -€12,229 | -93.8% |
| Recurring financial charges | 65 | €13,042 | €813 | -€12,229 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €80,213 | €57,352 | -€22,861 | -28.5% |
| Income taxes | 67/77 | €16,843 | €14,706 | -€2,137 | -12.7% |
| Profit (loss) for the period | 9904 | €63,370 | €42,646 | -€20,724 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,370 | €42,646 | -€20,724 | -32.7% |
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 5 October 2026 via checked.be.