VALOR COMPANY: what changed
VALOR COMPANY
Largest movements
- Receivables within one year +€33,928
up €33,928 (+176%), from €19,235 to €53,163
of which Trade receivables: +€36,605
- Cash -€19,623
down €19,623 (-66.5%), from €29,524 to €9,901
mainly Investment in fixed assets (net) (-€56,820) and Receivables within one year (-€33,928)
- Tangible fixed assets +€7,181
up €7,181 (+1.6%), from €440,674 to €447,855
of which Furniture and vehicles: +€14,966
- Trade debts +€92,680
up €92,680 (+375%), from €24,690 to €117,370
- Current portion of long-term debt -€31,949
down €31,949 (-67.3%), from €47,493 to €15,544
- Profit (loss) carried forward -€30,197
down €30,197 (-24.4%), from €123,509 to €93,313
- Debts after one year -€28,201
down €28,201 (-8.5%), from €332,281 to €304,079
- Other debts +€18,000
new in 2024: €18,000
- Gross operating margin -€81,828
down €81,828 (-53.9%), from €151,776 to €69,948
- Other operating charges +€7,501
up €7,501 (+106%), from €7,048 to €14,550
- Staff costs -€6,546
down €6,546 (-28.1%), from €23,276 to €16,730
- Financial income +€6,210
up €6,210 (+121,045%), from €5 to €6,215
- Financial charges -€4,270
down €4,270 (-80.4%), from €5,314 to €1,044
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €563,712 | €585,242 | +€21,530 | +3.8% |
| Fixed assets | 21/28 | €513,794 | €521,325 | +€7,531 | +1.5% |
| Tangible fixed assets | 22/27 | €440,674 | €447,855 | +€7,181 | +1.6% |
| Land and buildings | 22 | €299,252 | €295,720 | -€3,532 | -1.2% |
| Plant, machinery and equipment | 23 | €19,592 | €16,271 | -€3,321 | -17.0% |
| Furniture and vehicles | 24 | €115,304 | €130,270 | +€14,966 | +13.0% |
| Other tangible fixed assets | 26 | €6,526 | €5,594 | -€932 | -14.3% |
| Financial fixed assets | 28 | €73,120 | €73,470 | +€350 | +0.5% |
| Current assets | 29/58 | €49,917 | €63,917 | +€14,000 | +28.0% |
| Amounts receivable within one year | 40/41 | €19,235 | €53,163 | +€33,928 | +176% |
| Trade receivables | 40 | €15,174 | €51,780 | +€36,605 | +241% |
| Other amounts receivable | 41 | €4,061 | €1,383 | -€2,678 | -65.9% |
| Cash at bank and in hand | 54/58 | €29,524 | €9,901 | -€19,623 | -66.5% |
| Deferred charges and accrued income | 490/1 | €1,158 | €852 | -€305 | -26.4% |
| Total equity and liabilities | 10/49 | €563,712 | €585,242 | +€21,530 | +3.8% |
| Equity | 10/15 | €154,916 | €124,720 | -€30,197 | -19.5% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €31,207 | €31,207 | = | 0.0% |
| Distributable reserves | 133 | €31,207 | €31,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,509 | €93,313 | -€30,197 | -24.4% |
| Amounts payable | 17/49 | €408,795 | €460,522 | +€51,727 | +12.7% |
| Amounts payable after more than one year | 17 | €332,281 | €304,079 | -€28,201 | -8.5% |
| Financial debts | 170/4 | €332,281 | €304,079 | -€28,201 | -8.5% |
| Amounts payable within one year | 42/48 | €76,514 | €156,443 | +€79,929 | +104% |
| Current portion of amounts payable after more than one year | 42 | €47,493 | €15,544 | -€31,949 | -67.3% |
| Trade debts | 44 | €24,690 | €117,370 | +€92,680 | +375% |
| Suppliers | 440/4 | €24,690 | €117,370 | +€92,680 | +375% |
| Taxes, remuneration and social security | 45 | €4,331 | €5,529 | +€1,198 | +27.6% |
| Taxes | 450/3 | €4,331 | €5,457 | +€1,125 | +26.0% |
| Remuneration and social security | 454/9 | - | €73 | +€73 | |
| Other amounts payable | 47/48 | - | €18,000 | +€18,000 | |
| Remuneration, social security and pensions | 62 | €23,276 | €16,730 | -€6,546 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,591 | €49,289 | -€1,302 | -2.6% |
| Other operating charges | 640/8 | €7,048 | €14,550 | +€7,501 | +106% |
| Gross operating margin | 9900 | €151,776 | €69,948 | -€81,828 | -53.9% |
| Operating profit (loss) | 9901 | €70,860 | -€10,621 | -€81,481 | |
| Financial income | 75/76B | €5 | €6,215 | +€6,210 | +121,045% |
| Recurring financial income | 75 | €5 | €6,215 | +€6,210 | +121,045% |
| Financial charges | 65/66B | €5,314 | €1,044 | -€4,270 | -80.4% |
| Recurring financial charges | 65 | €5,314 | €1,044 | -€4,270 | -80.4% |
| Profit (loss) for the period before taxes | 9903 | €65,551 | -€5,450 | -€71,002 | |
| Income taxes | 67/77 | €11,000 | €7,151 | -€3,849 | -35.0% |
| Profit (loss) for the period | 9904 | €54,551 | -€12,601 | -€67,152 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,551 | -€12,601 | -€67,152 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.