Valora: 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.
Valora
Largest movements
- Stocks and contracts -€2.0m
down €2.0m (-84.7%), from €2.3m to €354,685
- Current portion of long-term debt -€910,771
no longer reported in 2025 (was €910,771)
- Other debts -€524,000
down €524,000 (-74.0%), from €708,000 to €184,000
- Profit (loss) carried forward -€522,773
down €522,773 (-187.5%), from -€278,883 to -€801,656
- Gross operating margin -€224,376
down €224,376 (-96.4%), from -€232,731 to -€457,107
- Financial charges +€20,169
up €20,169 (+45.6%), from €44,253 to €64,422
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 | €2,323,661 | €356,254 | -€2.0m | -84.7% |
| Formation expenses | 20 | €1,837 | €1,271 | -€566 | -30.8% |
| Current assets | 29/58 | €2,321,824 | €354,983 | -€2.0m | -84.7% |
| Stocks and contracts in progress | 3 | €2,321,441 | €354,685 | -€2.0m | -84.7% |
| Stocks | 30/36 | €2,321,441 | €354,685 | -€2.0m | -84.7% |
| Cash at bank and in hand | 54/58 | €311 | €136 | -€175 | -56.3% |
| Deferred charges and accrued income | 490/1 | €72 | €162 | +€91 | +126.3% |
| Total equity and liabilities | 10/49 | €2,323,661 | €356,254 | -€2.0m | -84.7% |
| Equity | 10/15 | €694,117 | €171,344 | -€522,773 | -75.3% |
| Contributions | 10/11 | €973,000 | €973,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€278,883 | -€801,656 | -€522,773 | -187.5% |
| Amounts payable | 17/49 | €1,629,544 | €184,910 | -€1.4m | -88.7% |
| Amounts payable within one year | 42/48 | €1,629,544 | €184,910 | -€1.4m | -88.7% |
| Current portion of amounts payable after more than one year | 42 | €910,771 | - | -€910,771 | |
| Trade debts | 44 | €8,208 | €330 | -€7,878 | -96.0% |
| Suppliers | 440/4 | €8,208 | €330 | -€7,878 | -96.0% |
| Taxes, remuneration and social security | 45 | €2,564 | €579 | -€1,985 | -77.4% |
| Taxes | 450/3 | €2,564 | €579 | -€1,985 | -77.4% |
| Other amounts payable | 47/48 | €708,000 | €184,000 | -€524,000 | -74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €993 | €566 | -€427 | -43.0% |
| Other operating charges | 640/8 | €906 | €678 | -€228 | -25.2% |
| Gross operating margin | 9900 | -€232,731 | -€457,107 | -€224,376 | -96.4% |
| Operating profit (loss) | 9901 | -€234,630 | -€458,351 | -€223,721 | -95.4% |
| Financial charges | 65/66B | €44,253 | €64,422 | +€20,169 | +45.6% |
| Recurring financial charges | 65 | €44,253 | €64,422 | +€20,169 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | -€278,883 | -€522,773 | -€243,890 | -87.5% |
| Profit (loss) for the period | 9904 | -€278,883 | -€522,773 | -€243,890 | -87.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€278,883 | -€522,773 | -€243,890 | -87.5% |
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 3 October 2026 via checked.be.