VALOR EVENT: 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 EVENT
Largest movements
- Receivables within one year +€7,778
up €7,778 (+996%), from €781 to €8,559
of which Other amounts receivable: +€5,000
- Tangible fixed assets -€5,919
down €5,919 (-33.2%), from €17,820 to €11,901
- Cash +€4,095
up €4,095 (+14.5%), from €28,320 to €32,415
mainly Other debts (+€62,785) and Depreciation (+€5,920)
- Other debts +€62,785
up €62,785 (+433%), from €14,500 to €77,285
- Reserves -€19,428
down €19,428 (-74.4%), from €26,115 to €6,687
of which Tax-exempt reserves: -€17,568
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Debts after one year -€7,363
down €7,363 (-40.1%), from €18,365 to €11,002
- Accrued charges and deferred income -€3,122
no longer reported in 2025 (was €3,122)
- Turnover -€18,718
down €18,718 (-14.4%), from €130,406 to €111,688
- Gross operating margin -€12,325
down €12,325 (-57.9%), from €21,304 to €8,979
- Purchases and services -€6,393
down €6,393 (-5.9%), from €109,102 to €102,709
- Staff costs -€3,999
down €3,999 (-8.5%), from €46,813 to €42,814
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 | €55,921 | €61,876 | +€5,955 | +10.6% |
| Fixed assets | 21/28 | €26,820 | €20,901 | -€5,919 | -22.1% |
| Tangible fixed assets | 22/27 | €17,820 | €11,901 | -€5,919 | -33.2% |
| Furniture and vehicles | 24 | €17,820 | €11,901 | -€5,919 | -33.2% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €29,101 | €40,975 | +€11,874 | +40.8% |
| Amounts receivable within one year | 40/41 | €781 | €8,559 | +€7,778 | +996% |
| Trade receivables | 40 | - | €2,778 | +€2,778 | |
| Other amounts receivable | 41 | €781 | €5,781 | +€5,000 | +640% |
| Cash at bank and in hand | 54/58 | €28,320 | €32,415 | +€4,095 | +14.5% |
| Deferred charges and accrued income | 490/1 | - | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €55,921 | €61,876 | +€5,955 | +10.6% |
| Equity | 10/15 | €6,687 | -€33,571 | -€40,258 | |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €26,115 | €6,687 | -€19,428 | -74.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €24,255 | €6,687 | -€17,568 | -72.4% |
| Profit (loss) carried forward | 14 | -€38,028 | -€40,258 | -€2,230 | -5.9% |
| Amounts payable | 17/49 | €49,234 | €95,447 | +€46,213 | +93.9% |
| Amounts payable after more than one year | 17 | €18,365 | €11,002 | -€7,363 | -40.1% |
| Financial debts | 170/4 | €18,365 | €11,002 | -€7,363 | -40.1% |
| Amounts payable within one year | 42/48 | €27,747 | €84,445 | +€56,698 | +204% |
| Trade debts | 44 | €7,338 | €4,270 | -€3,068 | -41.8% |
| Suppliers | 440/4 | €7,338 | €4,270 | -€3,068 | -41.8% |
| Taxes, remuneration and social security | 45 | €5,909 | €2,890 | -€3,019 | -51.1% |
| Taxes | 450/3 | €5,909 | €2,890 | -€3,019 | -51.1% |
| Other amounts payable | 47/48 | €14,500 | €77,285 | +€62,785 | +433% |
| Accrued charges and deferred income | 492/3 | €3,122 | - | -€3,122 | |
| Turnover | 70 | €130,406 | €111,688 | -€18,718 | -14.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €109,102 | €102,709 | -€6,393 | -5.9% |
| Remuneration, social security and pensions | 62 | €46,813 | €42,814 | -€3,999 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,920 | €5,920 | = | 0.0% |
| Other operating charges | 640/8 | €2,824 | €1,772 | -€1,052 | -37.3% |
| Gross operating margin | 9900 | €21,304 | €8,979 | -€12,325 | -57.9% |
| Operating profit (loss) | 9901 | -€34,253 | -€41,527 | -€7,274 | -21.2% |
| Financial charges | 65/66B | €700 | €703 | +€3 | +0.4% |
| Recurring financial charges | 65 | €700 | €703 | +€3 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€34,953 | -€42,230 | -€7,277 | -20.8% |
| Profit (loss) for the period | 9904 | -€34,953 | -€42,230 | -€7,277 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,953 | -€42,230 | -€7,277 | -20.8% |
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.