VALORENCO: 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.
VALORENCO
Largest movements
- Tangible fixed assets +€30,066
up €30,066 (+106.9%), from €28,136 to €58,202
of which Plant, machinery and equipment: +€31,135
- Cash +€20,823
up €20,823 (+365.9%), from €5,691 to €26,514
mainly Other debts (+€70,896) and Debts after one year (+€38,289)
- Deferred charges and accrued income +€6,544
up €6,544, from €0 to €6,544
- Receivables within one year +€1,198
up €1,198 (+9.3%), from €12,819 to €14,017
- Other debts +€70,896
up €70,896 (+45.4%), from €156,081 to €226,977
- Accrued charges and deferred income -€67,830
down €67,830 (-78.1%), from €86,904 to €19,074
- Debts after one year +€38,289
new in 2025: €38,289
- Trade debts +€5,242
up €5,242 (+234.3%), from €2,238 to €7,479
- Profit (loss) carried forward +€4,155
up €4,155 (+1.6%), from -€264,818 to -€260,663
- Gross operating margin +€50,327
up €50,327, from -€29,243 to €21,084
- Financial charges +€1,505
up €1,505 (+729.3%), from €206 to €1,711
- Other operating charges -€1,484
down €1,484 (-83.9%), from €1,768 to €284
- Depreciation +€1,122
up €1,122 (+8.1%), from €13,812 to €14,934
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 | €46,645 | €105,276 | +€58,631 | +125.7% |
| Fixed assets | 21/28 | €28,136 | €58,202 | +€30,066 | +106.9% |
| Tangible fixed assets | 22/27 | €28,136 | €58,202 | +€30,066 | +106.9% |
| Plant, machinery and equipment | 23 | €25,394 | €56,529 | +€31,135 | +122.6% |
| Furniture and vehicles | 24 | €2,742 | €1,672 | -€1,069 | -39.0% |
| Current assets | 29/58 | €18,509 | €47,074 | +€28,565 | +154.3% |
| Amounts receivable within one year | 40/41 | €12,819 | €14,017 | +€1,198 | +9.3% |
| Trade receivables | 40 | €12,819 | €14,017 | +€1,198 | +9.3% |
| Cash at bank and in hand | 54/58 | €5,691 | €26,514 | +€20,823 | +365.9% |
| Deferred charges and accrued income | 490/1 | €0 | €6,544 | +€6,544 | |
| Total equity and liabilities | 10/49 | €46,645 | €105,276 | +€58,631 | +125.7% |
| Equity | 10/15 | -€203,318 | -€199,163 | +€4,155 | +2.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,818 | -€260,663 | +€4,155 | +1.6% |
| Amounts payable | 17/49 | €249,963 | €304,439 | +€54,475 | +21.8% |
| Amounts payable after more than one year | 17 | - | €38,289 | +€38,289 | |
| Financial debts | 170/4 | - | €38,289 | +€38,289 | |
| Amounts payable within one year | 42/48 | €163,059 | €247,076 | +€84,016 | +51.5% |
| Current portion of amounts payable after more than one year | 42 | €1,900 | €5,631 | +€3,731 | +196.3% |
| Trade debts | 44 | €2,238 | €7,479 | +€5,242 | +234.3% |
| Suppliers | 440/4 | €2,238 | €7,479 | +€5,242 | +234.3% |
| Taxes, remuneration and social security | 45 | €2,841 | €6,989 | +€4,148 | +146.0% |
| Taxes | 450/3 | €2,841 | €6,989 | +€4,148 | +146.0% |
| Other amounts payable | 47/48 | €156,081 | €226,977 | +€70,896 | +45.4% |
| Accrued charges and deferred income | 492/3 | €86,904 | €19,074 | -€67,830 | -78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,812 | €14,934 | +€1,122 | +8.1% |
| Other operating charges | 640/8 | €1,768 | €284 | -€1,484 | -83.9% |
| Gross operating margin | 9900 | -€29,243 | €21,084 | +€50,327 | |
| Operating profit (loss) | 9901 | -€44,823 | €5,867 | +€50,690 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €206 | €1,711 | +€1,505 | +729.3% |
| Recurring financial charges | 65 | €206 | €1,711 | +€1,505 | +729.3% |
| Profit (loss) for the period before taxes | 9903 | -€45,029 | €4,155 | +€49,185 | |
| Profit (loss) for the period | 9904 | -€45,029 | €4,155 | +€49,185 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,029 | €4,155 | +€49,185 |
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 6 October 2026 via checked.be.