VALORO: 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.
VALORO
Largest movements
- Tangible fixed assets -€42,884
down €42,884 (-2.7%), from €1.6m to €1.6m
- Debts after one year -€149,451
down €149,451 (-11.3%), from €1.3m to €1.2m
- Other debts +€144,441
up €144,441 (+955%), from €15,132 to €159,573
- Trade debts -€53,872
down €53,872 (-46.8%), from €115,032 to €61,160
- Gross operating margin +€17,184
up €17,184 (+15.0%), from €114,418 to €131,602
- Other operating charges +€11,208
up €11,208 (+102%), from €11,009 to €22,218
- Financial charges -€5,292
down €5,292 (-9.6%), from €55,404 to €50,111
- Taxes +€2,502
up €2,502 (+127%), from €1,964 to €4,466
- Depreciation +€2,237
up €2,237 (+5.5%), from €40,647 to €42,884
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 | €1,672,894 | €1,632,666 | -€40,229 | -2.4% |
| Fixed assets | 21/28 | €1,613,031 | €1,570,147 | -€42,884 | -2.7% |
| Tangible fixed assets | 22/27 | €1,613,031 | €1,570,147 | -€42,884 | -2.7% |
| Land and buildings | 22 | €1,613,031 | €1,570,147 | -€42,884 | -2.7% |
| Current assets | 29/58 | €59,863 | €62,518 | +€2,655 | +4.4% |
| Amounts receivable within one year | 40/41 | €39,595 | €35,810 | -€3,786 | -9.6% |
| Trade receivables | 40 | €39,595 | €35,021 | -€4,575 | -11.6% |
| Other amounts receivable | 41 | - | €789 | +€789 | |
| Cash at bank and in hand | 54/58 | €20,268 | €26,709 | +€6,441 | +31.8% |
| Total equity and liabilities | 10/49 | €1,672,894 | €1,632,666 | -€40,229 | -2.4% |
| Equity | 10/15 | €70,097 | €82,020 | +€11,923 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,497 | €63,420 | +€11,923 | +23.2% |
| Distributable reserves | 133 | €51,497 | €63,420 | +€11,923 | +23.2% |
| Amounts payable | 17/49 | €1,602,798 | €1,550,646 | -€52,152 | -3.3% |
| Amounts payable after more than one year | 17 | €1,324,388 | €1,174,936 | -€149,451 | -11.3% |
| Financial debts | 170/4 | €1,324,388 | €1,174,936 | -€149,451 | -11.3% |
| Amounts payable within one year | 42/48 | €278,410 | €375,710 | +€97,299 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €144,258 | €149,451 | +€5,193 | +3.6% |
| Trade debts | 44 | €115,032 | €61,160 | -€53,872 | -46.8% |
| Suppliers | 440/4 | €115,032 | €61,160 | -€53,872 | -46.8% |
| Taxes, remuneration and social security | 45 | €3,988 | €5,525 | +€1,537 | +38.5% |
| Taxes | 450/3 | €3,988 | €5,525 | +€1,537 | +38.5% |
| Other amounts payable | 47/48 | €15,132 | €159,573 | +€144,441 | +955% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,647 | €42,884 | +€2,237 | +5.5% |
| Other operating charges | 640/8 | €11,009 | €22,218 | +€11,208 | +102% |
| Gross operating margin | 9900 | €114,418 | €131,602 | +€17,184 | +15.0% |
| Operating profit (loss) | 9901 | €62,762 | €66,500 | +€3,739 | +6.0% |
| Financial charges | 65/66B | €55,404 | €50,111 | -€5,292 | -9.6% |
| Recurring financial charges | 65 | €55,404 | €50,111 | -€5,292 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €7,358 | €16,389 | +€9,031 | +123% |
| Income taxes | 67/77 | €1,964 | €4,466 | +€2,502 | +127% |
| Profit (loss) for the period | 9904 | €5,395 | €11,923 | +€6,529 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €5,395 | €11,923 | +€6,529 | +121% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.