ValoRise: 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.
ValoRise
Largest movements
- Tangible fixed assets +€30,016
up €30,016 (+608%), from €4,933 to €34,949
- Cash -€16,564
down €16,564 (-19.2%), from €86,195 to €69,631
mainly Other debts (-€67,800) and Investment in fixed assets (net) (-€36,238)
- Intangible fixed assets -€7,388
down €7,388 (-24.2%), from €30,511 to €23,123
- Receivables within one year -€4,885
down €4,885 (-15.3%), from €31,847 to €26,962
- Other debts -€67,800
down €67,800 (-54.0%), from €125,649 to €57,849
- Reserves +€65,629
new in 2025: €65,629
- Tax, wage and social debts +€28,037
up €28,037 (+244%), from €11,503 to €39,541
- Trade debts -€25,890
down €25,890 (-62.9%), from €41,186 to €15,295
- Taxes +€20,576
up €20,576 (+11,583%), from €178 to €20,754
- Gross operating margin +€11,658
up €11,658 (+13.0%), from €90,014 to €101,672
- Financial charges -€4,133
down €4,133 (-77.4%), from €5,337 to €1,204
- Depreciation +€2,890
up €2,890 (+27.0%), from €10,720 to €13,610
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 | €154,689 | €154,664 | -€24 | 0.0% |
| Fixed assets | 21/28 | €35,444 | €58,072 | +€22,628 | +63.8% |
| Intangible fixed assets | 21 | €30,511 | €23,123 | -€7,388 | -24.2% |
| Tangible fixed assets | 22/27 | €4,933 | €34,949 | +€30,016 | +608% |
| Furniture and vehicles | 24 | €4,933 | €34,949 | +€30,016 | +608% |
| Current assets | 29/58 | €119,245 | €96,593 | -€22,652 | -19.0% |
| Amounts receivable within one year | 40/41 | €31,847 | €26,962 | -€4,885 | -15.3% |
| Trade receivables | 40 | €31,847 | €26,962 | -€4,885 | -15.3% |
| Cash at bank and in hand | 54/58 | €86,195 | €69,631 | -€16,564 | -19.2% |
| Deferred charges and accrued income | 490/1 | €1,204 | - | -€1,204 | |
| Total equity and liabilities | 10/49 | €154,689 | €154,664 | -€24 | 0.0% |
| Equity | 10/15 | -€23,649 | €41,980 | +€65,629 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €65,629 | +€65,629 | |
| Distributable reserves | 133 | - | €65,629 | +€65,629 | |
| Profit (loss) carried forward | 14 | -€42,249 | -€42,249 | = | 0.0% |
| Amounts payable | 17/49 | €178,338 | €112,685 | -€65,653 | -36.8% |
| Amounts payable within one year | 42/48 | €178,338 | €112,685 | -€65,653 | -36.8% |
| Trade debts | 44 | €41,186 | €15,295 | -€25,890 | -62.9% |
| Suppliers | 440/4 | €41,186 | €15,295 | -€25,890 | -62.9% |
| Taxes, remuneration and social security | 45 | €11,503 | €39,541 | +€28,037 | +244% |
| Taxes | 450/3 | €11,503 | €39,541 | +€28,037 | +244% |
| Other amounts payable | 47/48 | €125,649 | €57,849 | -€67,800 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,720 | €13,610 | +€2,890 | +27.0% |
| Other operating charges | 640/8 | €954 | €476 | -€478 | -50.1% |
| Gross operating margin | 9900 | €90,014 | €101,672 | +€11,658 | +13.0% |
| Operating profit (loss) | 9901 | €78,340 | €87,587 | +€9,246 | +11.8% |
| Financial charges | 65/66B | €5,337 | €1,204 | -€4,133 | -77.4% |
| Recurring financial charges | 65 | €5,337 | €1,204 | -€4,133 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | €73,004 | €86,383 | +€13,379 | +18.3% |
| Income taxes | 67/77 | €178 | €20,754 | +€20,576 | +11,583% |
| Profit (loss) for the period | 9904 | €72,826 | €65,629 | -€7,197 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,826 | €65,629 | -€7,197 | -9.9% |
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 22 October 2026 via checked.be.