VALOR SERVICES GROUP: 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.
What changed
VALOR SERVICES GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€39,149
2024 · -€264,705+€303,854
Equity
€1.1m
2024 · €1.0m+€39,149
Cash
€25,845
2024 · €8,570+€17,275
Balance sheet total
€5.2m
2024 · €5.1m+€128,109
Largest movements
Assets
- Receivables within one year +€112,411
up €112,411 (+41.2%), from €273,098 to €385,509
of which Other amounts receivable: +€117,864
- Intangible fixed assets -€60,519
down €60,519 (-18.7%), from €323,608 to €263,089
Equity and liabilities
- Other debts +€378,381
up €378,381 (+11.2%), from €3.4m to €3.8m
- Current portion of long-term debt -€261,557
down €261,557 (-74.8%), from €349,649 to €88,092
- Debts after one year -€88,092
down €88,092 (-83.4%), from €105,592 to €17,500
- Trade debts +€69,449
up €69,449 (+102%), from €67,845 to €137,294
- Tax, wage and social debts -€54,263
down €54,263 (-59.4%), from €91,280 to €37,016
of which Remuneration and social security: -€44,197
Income statement
- Staff costs -€305,664
down €305,664 (-66.7%), from €457,937 to €152,273
- Financial charges -€277,918
down €277,918 (-76.5%), from €363,297 to €85,379
of which Non-recurring financial charges: -€268,106
- Turnover -€151,000
down €151,000 (-10.7%), from €1.4m to €1.3m
- Services and other goods +€140,229
up €140,229 (+17.9%), from €785,073 to €925,302
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.
Result 2024
-€264,705
Turnover
-€151,000
Other operating income
+€12,648
Services and other goods
-€140,229
Staff costs
+€305,664
Depreciation
+€9,661
Other operating charges
-€21
Financial income
+€945
Financial charges
+€277,918
Taxes
-€11,732
Result 2025
€39,149
raises the resultlowers the result
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.
From operations
+€376,700
Investment
-€9,775
Financing
-€349,649
Cash 2024
€8,570
From operations (derived)
+€376,700
Net result for the year
+€39,149
Depreciation
+€69,682
Receivables after one year
-€44,800
Receivables within one year
-€112,411
Deferred charges and accrued income
-€13,529
Trade debts
+€69,449
Tax, wage and social debts
-€54,263
Other debts
+€378,381
Accrued charges and deferred income
+€45,043
Investment (derived)
-€9,775
Investment in fixed assets (net)
-€9,775
Financing
-€349,649
Debts after one year
-€88,092
Current portion of long-term debt
-€261,557
Cash 2025
€25,845
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,064,773 | €5,192,882 | +€128,109 | +2.5% |
| Fixed assets | 21/28 | €4,766,524 | €4,706,618 | -€59,906 | -1.3% |
| Intangible fixed assets | 21 | €323,608 | €263,089 | -€60,519 | -18.7% |
| Tangible fixed assets | 22/27 | €17,695 | €18,308 | +€612 | +3.5% |
| Plant, machinery and equipment | 23 | €11,810 | €8,980 | -€2,830 | -24.0% |
| Furniture and vehicles | 24 | €5,885 | €9,328 | +€3,443 | +58.5% |
| Financial fixed assets | 28 | €4,425,221 | €4,425,221 | = | 0.0% |
| Affiliated companies | 280/1 | €4,425,221 | €4,425,221 | = | 0.0% |
| Participating interests | 280 | €4,425,221 | €4,425,221 | = | 0.0% |
| Current assets | 29/58 | €298,249 | €486,264 | +€188,015 | +63.0% |
| Amounts receivable after more than one year | 29 | - | €44,800 | +€44,800 | |
| Other amounts receivable | 291 | - | €44,800 | +€44,800 | |
| Amounts receivable within one year | 40/41 | €273,098 | €385,509 | +€112,411 | +41.2% |
| Trade receivables | 40 | €59,933 | €54,480 | -€5,453 | -9.1% |
| Other amounts receivable | 41 | €213,165 | €331,029 | +€117,864 | +55.3% |
| Cash at bank and in hand | 54/58 | €8,570 | €25,845 | +€17,275 | +202% |
| Deferred charges and accrued income | 490/1 | €16,581 | €30,111 | +€13,529 | +81.6% |
| Total equity and liabilities | 10/49 | €5,064,773 | €5,192,882 | +€128,109 | +2.5% |
| Equity | 10/15 | €1,030,947 | €1,070,096 | +€39,149 | +3.8% |
| Contributions | 10/11 | €308,263 | €308,263 | = | 0.0% |
| Capital | 10 | €308,263 | €308,263 | = | 0.0% |
| Issued capital | 100 | €337,915 | €337,915 | = | 0.0% |
| Uncalled capital | 101 | €29,653 | €29,653 | = | 0.0% |
| Profit (loss) carried forward | 14 | €722,684 | €761,833 | +€39,149 | +5.4% |
| Amounts payable | 17/49 | €4,033,826 | €4,122,786 | +€88,960 | +2.2% |
| Amounts payable after more than one year | 17 | €105,592 | €17,500 | -€88,092 | -83.4% |
| Financial debts | 170/4 | €105,592 | €17,500 | -€88,092 | -83.4% |
| Subordinated loans | 170 | €17,500 | €17,500 | = | 0.0% |
| Credit institutions | 173 | €88,092 | €0 | -€88,092 | -100% |
| Amounts payable within one year | 42/48 | €3,891,757 | €4,023,766 | +€132,009 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €349,649 | €88,092 | -€261,557 | -74.8% |
| Trade debts | 44 | €67,845 | €137,294 | +€69,449 | +102% |
| Suppliers | 440/4 | €67,845 | €137,294 | +€69,449 | +102% |
| Taxes, remuneration and social security | 45 | €91,280 | €37,016 | -€54,263 | -59.4% |
| Taxes | 450/3 | €38,588 | €28,521 | -€10,067 | -26.1% |
| Remuneration and social security | 454/9 | €52,691 | €8,495 | -€44,197 | -83.9% |
| Other amounts payable | 47/48 | €3,382,983 | €3,761,364 | +€378,381 | +11.2% |
| Accrued charges and deferred income | 492/3 | €36,478 | €81,520 | +€45,043 | +123% |
| Operating income | 70/76A | €1,417,904 | €1,279,552 | -€138,352 | -9.8% |
| Turnover | 70 | €1,411,000 | €1,260,000 | -€151,000 | -10.7% |
| Other operating income | 74 | €6,904 | €19,552 | +€12,648 | +183% |
| Operating charges | 60/66A | €1,324,718 | €1,149,642 | -€175,076 | -13.2% |
| Services and other goods | 61 | €785,073 | €925,302 | +€140,229 | +17.9% |
| Remuneration, social security and pensions | 62 | €457,937 | €152,273 | -€305,664 | -66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,343 | €69,682 | -€9,661 | -12.2% |
| Other operating charges | 640/8 | €2,365 | €2,386 | +€21 | +0.9% |
| Operating profit (loss) | 9901 | €93,186 | €129,910 | +€36,724 | +39.4% |
| Financial income | 75/76B | €3,312 | €4,256 | +€945 | +28.5% |
| Recurring financial income | 75 | €3,312 | €4,256 | +€945 | +28.5% |
| Other financial income | 752/9 | €3,312 | €4,256 | +€945 | +28.5% |
| Financial charges | 65/66B | €363,297 | €85,379 | -€277,918 | -76.5% |
| Recurring financial charges | 65 | €95,190 | €85,379 | -€9,811 | -10.3% |
| Debt charges | 650 | €94,046 | €85,061 | -€8,985 | -9.6% |
| Other financial charges | 652/9 | €1,144 | €318 | -€826 | -72.2% |
| Non-recurring financial charges | 66B | €268,106 | €0 | -€268,106 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€266,800 | €48,787 | +€315,586 | |
| Income taxes | 67/77 | -€2,094 | €9,638 | +€11,732 | |
| Taxes | 670/3 | €1,000 | €10,000 | +€9,000 | +900% |
| Tax adjustments and reversals of tax provisions | 77 | €3,094 | €362 | -€2,732 | -88.3% |
| Profit (loss) for the period | 9904 | -€264,705 | €39,149 | +€303,854 | |
| Profit (loss) for the period to be appropriated | 9905 | -€264,705 | €39,149 | +€303,854 |
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 27 October 2026 via checked.be.