VALAISON: 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.
VALAISON
Largest movements
- Cash +€23,266
up €23,266 (+1076.1%), from €2,162 to €25,428
mainly Net result for the year (+€46,766) and Tax, wage and social debts (+€14,531)
- Current investments +€23,000
up €23,000 (+328.6%), from €7,000 to €30,000
- Receivables within one year +€6,672
up €6,672 (+724.9%), from €920 to €7,593
of which Trade receivables: +€6,746
- Deferred charges and accrued income +€1,792
up €1,792 (+460.9%), from €389 to €2,181
- Intangible fixed assets -€667
down €667 (-46.2%), from €1,444 to €778
- Reserves +€46,766
up €46,766 (+1988.6%), from €2,352 to €49,118
- Tax, wage and social debts +€14,531
up €14,531 (+623.5%), from €2,331 to €16,862
- Other debts -€7,143
no longer reported in 2025 (was €7,143)
- Gross operating margin +€46,414
up €46,414 (+346.1%), from €13,409 to €59,823
- Taxes +€9,438
up €9,438 (+403.0%), from €2,342 to €11,780
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 | €11,916 | €65,980 | +€54,064 | +453.7% |
| Fixed assets | 21/28 | €1,444 | €778 | -€667 | -46.2% |
| Intangible fixed assets | 21 | €1,444 | €778 | -€667 | -46.2% |
| Current assets | 29/58 | €10,471 | €65,202 | +€54,731 | +522.7% |
| Amounts receivable within one year | 40/41 | €920 | €7,593 | +€6,672 | +724.9% |
| Trade receivables | 40 | €847 | €7,593 | +€6,746 | +796.4% |
| Other amounts receivable | 41 | €73 | - | -€73 | |
| Current investments | 50/53 | €7,000 | €30,000 | +€23,000 | +328.6% |
| Cash at bank and in hand | 54/58 | €2,162 | €25,428 | +€23,266 | +1076.1% |
| Deferred charges and accrued income | 490/1 | €389 | €2,181 | +€1,792 | +460.9% |
| Total equity and liabilities | 10/49 | €11,916 | €65,980 | +€54,064 | +453.7% |
| Equity | 10/15 | €2,352 | €49,118 | +€46,766 | +1988.6% |
| Reserves | 13 | €2,352 | €49,118 | +€46,766 | +1988.6% |
| Distributable reserves | 133 | €2,352 | €49,118 | +€46,766 | +1988.6% |
| Amounts payable | 17/49 | €9,564 | €16,862 | +€7,298 | +76.3% |
| Amounts payable within one year | 42/48 | €9,564 | €16,862 | +€7,298 | +76.3% |
| Trade debts | 44 | €91 | - | -€91 | |
| Suppliers | 440/4 | €91 | - | -€91 | |
| Taxes, remuneration and social security | 45 | €2,331 | €16,862 | +€14,531 | +623.5% |
| Taxes | 450/3 | €2,331 | €16,862 | +€14,531 | +623.5% |
| Other amounts payable | 47/48 | €7,143 | - | -€7,143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €556 | €667 | +€111 | +20.0% |
| Other operating charges | 640/8 | €898 | €528 | -€370 | -41.2% |
| Gross operating margin | 9900 | €13,409 | €59,823 | +€46,414 | +346.1% |
| Operating profit (loss) | 9901 | €11,955 | €58,628 | +€46,673 | +390.4% |
| Financial income | 75/76B | €39 | €143 | +€105 | +270.9% |
| Recurring financial income | 75 | €39 | €143 | +€105 | +270.9% |
| Financial charges | 65/66B | €157 | €225 | +€68 | +43.0% |
| Recurring financial charges | 65 | €157 | €225 | +€68 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €11,837 | €58,547 | +€46,710 | +394.6% |
| Income taxes | 67/77 | €2,342 | €11,780 | +€9,438 | +403.0% |
| Profit (loss) for the period | 9904 | €9,495 | €46,766 | +€37,272 | +392.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,495 | €46,766 | +€37,272 | +392.6% |
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 29 September 2026 via checked.be.