Valpro: 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.
Valpro
Largest movements
- Cash +€115,239
up €115,239 (+84.4%), from €136,619 to €251,858
mainly Net result for the year (+€100,880) and Tax, wage and social debts (+€20,076)
- Receivables within one year +€20,270
up €20,270 (+21932.6%), from €92 to €20,362
of which Trade receivables: +€20,362
- Reserves +€100,000
up €100,000 (+78.1%), from €128,000 to €228,000
- Tax, wage and social debts +€20,076
up €20,076 (+496.1%), from €4,047 to €24,123
- Trade debts +€16,813
up €16,813 (+70583.0%), from €24 to €16,837
- Gross operating margin +€31,817
up €31,817 (+30.3%), from €104,993 to €136,810
- Taxes +€9,239
up €9,239 (+36.0%), from €25,651 to €34,890
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 | €138,906 | €274,170 | +€135,264 | +97.4% |
| Fixed assets | 21/28 | €2,195 | €1,949 | -€245 | -11.2% |
| Tangible fixed assets | 22/27 | €2,135 | €1,889 | -€245 | -11.5% |
| Furniture and vehicles | 24 | €2,135 | €1,889 | -€245 | -11.5% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €136,711 | €272,220 | +€135,509 | +99.1% |
| Amounts receivable within one year | 40/41 | €92 | €20,362 | +€20,270 | +21932.6% |
| Trade receivables | 40 | - | €20,362 | +€20,362 | |
| Other amounts receivable | 41 | €92 | €0 | -€92 | -100.0% |
| Cash at bank and in hand | 54/58 | €136,619 | €251,858 | +€115,239 | +84.4% |
| Total equity and liabilities | 10/49 | €138,906 | €274,170 | +€135,264 | +97.4% |
| Equity | 10/15 | €132,271 | €233,151 | +€100,880 | +76.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €128,000 | €228,000 | +€100,000 | +78.1% |
| Distributable reserves | 133 | €128,000 | €228,000 | +€100,000 | +78.1% |
| Profit (loss) carried forward | 14 | €1,271 | €2,151 | +€880 | +69.2% |
| Amounts payable | 17/49 | €6,634 | €41,019 | +€34,384 | +518.3% |
| Amounts payable within one year | 42/48 | €6,634 | €41,019 | +€34,384 | +518.3% |
| Trade debts | 44 | €24 | €16,837 | +€16,813 | +70583.0% |
| Suppliers | 440/4 | €24 | €16,837 | +€16,813 | +70583.0% |
| Taxes, remuneration and social security | 45 | €4,047 | €24,123 | +€20,076 | +496.1% |
| Taxes | 450/3 | €4,047 | €24,123 | +€20,076 | +496.1% |
| Other amounts payable | 47/48 | €2,563 | €59 | -€2,505 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245 | €245 | -€0 | 0.0% |
| Other operating charges | 640/8 | €708 | €510 | -€198 | -27.9% |
| Gross operating margin | 9900 | €104,993 | €136,810 | +€31,817 | +30.3% |
| Operating profit (loss) | 9901 | €104,041 | €136,055 | +€32,014 | +30.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €144 | €286 | +€141 | +98.0% |
| Recurring financial charges | 65 | €144 | €286 | +€141 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | €103,896 | €135,770 | +€31,873 | +30.7% |
| Income taxes | 67/77 | €25,651 | €34,890 | +€9,239 | +36.0% |
| Profit (loss) for the period | 9904 | €78,245 | €100,880 | +€22,634 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,245 | €100,880 | +€22,634 | +28.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.