VALORITEAM: 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.
VALORITEAM
Largest movements
- Cash -€73,317
down €73,317 (-22.5%), from €325,594 to €252,277
mainly Net result for the year (-€50,763) and Other debts (-€40,493)
- Receivables within one year -€29,493
down €29,493 (-12.8%), from €230,663 to €201,169
of which Other amounts receivable: -€28,620
- Tangible fixed assets +€12,325
up €12,325 (+604%), from €2,039 to €14,364
- Profit (loss) carried forward -€50,763
down €50,763 (-4,410%), from -€1,151 to -€51,914
- Other debts -€40,493
down €40,493 (-81.5%), from €49,689 to €9,196
- Other operating charges +€29,119
up €29,119 (+3,185%), from €914 to €30,033
- Gross operating margin -€6,673
down €6,673 (-78.8%), from -€8,471 to -€15,145
- Depreciation +€6,463
up €6,463 (+1,599%), from €404 to €6,867
- Financial income -€271
down €271 (-14.8%), from €1,824 to €1,553
- Financial charges -€203
down €203 (-83.4%), from €243 to €40
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 | €563,435 | €474,576 | -€88,859 | -15.8% |
| Fixed assets | 21/28 | €6,064 | €18,389 | +€12,325 | +203% |
| Tangible fixed assets | 22/27 | €2,039 | €14,364 | +€12,325 | +604% |
| Furniture and vehicles | 24 | €2,039 | €14,364 | +€12,325 | +604% |
| Financial fixed assets | 28 | €4,025 | €4,025 | = | 0.0% |
| Current assets | 29/58 | €557,371 | €456,187 | -€101,184 | -18.2% |
| Amounts receivable within one year | 40/41 | €230,663 | €201,169 | -€29,493 | -12.8% |
| Trade receivables | 40 | €873 | - | -€873 | |
| Other amounts receivable | 41 | €229,789 | €201,169 | -€28,620 | -12.5% |
| Cash at bank and in hand | 54/58 | €325,594 | €252,277 | -€73,317 | -22.5% |
| Deferred charges and accrued income | 490/1 | €1,114 | €2,740 | +€1,627 | +146% |
| Total equity and liabilities | 10/49 | €563,435 | €474,576 | -€88,859 | -15.8% |
| Equity | 10/15 | €141,849 | €91,086 | -€50,763 | -35.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,400 | €124,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €122,540 | €122,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,151 | -€51,914 | -€50,763 | -4,410% |
| Amounts payable | 17/49 | €421,586 | €383,490 | -€38,096 | -9.0% |
| Amounts payable after more than one year | 17 | €355,000 | €355,000 | = | 0.0% |
| Financial debts | 170/4 | €355,000 | €355,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €51,586 | €13,490 | -€38,096 | -73.8% |
| Trade debts | 44 | €1,546 | €4,064 | +€2,518 | +163% |
| Suppliers | 440/4 | €1,546 | €4,064 | +€2,518 | +163% |
| Taxes, remuneration and social security | 45 | €351 | €230 | -€121 | -34.3% |
| Taxes | 450/3 | €351 | €230 | -€121 | -34.3% |
| Other amounts payable | 47/48 | €49,689 | €9,196 | -€40,493 | -81.5% |
| Accrued charges and deferred income | 492/3 | €15,000 | €15,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404 | €6,867 | +€6,463 | +1,599% |
| Other operating charges | 640/8 | €914 | €30,033 | +€29,119 | +3,185% |
| Gross operating margin | 9900 | -€8,471 | -€15,145 | -€6,673 | -78.8% |
| Operating profit (loss) | 9901 | -€9,790 | -€52,045 | -€42,255 | -432% |
| Financial income | 75/76B | €1,824 | €1,553 | -€271 | -14.8% |
| Recurring financial income | 75 | €1,824 | €1,553 | -€271 | -14.8% |
| Financial charges | 65/66B | €243 | €40 | -€203 | -83.4% |
| Recurring financial charges | 65 | €243 | €40 | -€203 | -83.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,209 | -€50,532 | -€42,323 | -516% |
| Income taxes | 67/77 | €192 | €230 | +€38 | +19.8% |
| Profit (loss) for the period | 9904 | -€8,402 | -€50,763 | -€42,361 | -504% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,402 | -€50,763 | -€42,361 | -504% |
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 19 October 2026 via checked.be.