Valor Act: 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.
Valor Act
Largest movements
- Cash -€20,284
down €20,284 (-56.2%), from €36,124 to €15,840
mainly Deferred charges and accrued income (-€12,221) and Contributions, distributions and other (-€10,000)
- Deferred charges and accrued income +€12,221
up €12,221 (+933%), from €1,309 to €13,530
- Receivables within one year -€7,815
down €7,815 (-56.6%), from €13,814 to €5,999
of which Trade receivables: -€9,260
- Tangible fixed assets -€891
no longer reported in 2025 (was €891)
of which Furniture and vehicles: -€891
- Contributions -€10,000
down €10,000 (-53.8%), from €18,600 to €8,600
- Other debts -€3,727
no longer reported in 2025 (was €3,727)
- Trade debts -€3,214
down €3,214 (-87.2%), from €3,685 to €471
- Profit (loss) carried forward +€1,709
up €1,709 (+7.7%), from €22,262 to €23,971
- Tax, wage and social debts -€1,537
down €1,537 (-76.7%), from €2,004 to €467
- Turnover +€135,000
new in 2025: €135,000
- Purchases and services +€123,860
new in 2025: €123,860
- Gross operating margin +€4,743
up €4,743 (+74.1%), from €6,397 to €11,140
- Depreciation -€3,336
down €3,336 (-78.9%), from €4,227 to €891
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 | €52,138 | €35,369 | -€16,769 | -32.2% |
| Fixed assets | 21/28 | €891 | - | -€891 | |
| Tangible fixed assets | 22/27 | €891 | - | -€891 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €891 | - | -€891 | |
| Current assets | 29/58 | €51,247 | €35,369 | -€15,878 | -31.0% |
| Amounts receivable within one year | 40/41 | €13,814 | €5,999 | -€7,815 | -56.6% |
| Trade receivables | 40 | €11,109 | €1,849 | -€9,260 | -83.4% |
| Other amounts receivable | 41 | €2,705 | €4,150 | +€1,445 | +53.4% |
| Cash at bank and in hand | 54/58 | €36,124 | €15,840 | -€20,284 | -56.2% |
| Deferred charges and accrued income | 490/1 | €1,309 | €13,530 | +€12,221 | +933% |
| Total equity and liabilities | 10/49 | €52,138 | €35,369 | -€16,769 | -32.2% |
| Equity | 10/15 | €42,722 | - | -€42,722 | |
| Contributions | 10/11 | €18,600 | €8,600 | -€10,000 | -53.8% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,262 | €23,971 | +€1,709 | +7.7% |
| Amounts payable | 17/49 | €9,416 | €938 | -€8,478 | -90.0% |
| Amounts payable within one year | 42/48 | €9,416 | €938 | -€8,478 | -90.0% |
| Trade debts | 44 | €3,685 | €471 | -€3,214 | -87.2% |
| Suppliers | 440/4 | €3,685 | €471 | -€3,214 | -87.2% |
| Taxes, remuneration and social security | 45 | €2,004 | €467 | -€1,537 | -76.7% |
| Taxes | 450/3 | €2,004 | €467 | -€1,537 | -76.7% |
| Other amounts payable | 47/48 | €3,727 | - | -€3,727 | |
| Turnover | 70 | - | €135,000 | +€135,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €123,860 | +€123,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,227 | €891 | -€3,336 | -78.9% |
| Other operating charges | 640/8 | €618 | €638 | +€20 | +3.2% |
| Non-recurring operating charges | 66A | €500 | €7,813 | +€7,313 | +1,463% |
| Gross operating margin | 9900 | €6,397 | €11,140 | +€4,743 | +74.1% |
| Operating profit (loss) | 9901 | €1,052 | €1,798 | +€746 | +70.9% |
| Financial income | 75/76B | - | €81 | +€81 | |
| Recurring financial income | 75 | - | €81 | +€81 | |
| Financial charges | 65/66B | €89 | €170 | +€81 | +90.9% |
| Recurring financial charges | 65 | €89 | €170 | +€81 | +90.9% |
| Profit (loss) for the period before taxes | 9903 | €963 | €1,709 | +€746 | +77.5% |
| Income taxes | 67/77 | €817 | - | -€817 | |
| Profit (loss) for the period | 9904 | €146 | €1,709 | +€1,563 | +1,068% |
| Profit (loss) for the period to be appropriated | 9905 | €146 | €1,709 | +€1,563 | +1,068% |
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 18 October 2026 via checked.be.