VALASI: 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.
VALASI
Largest movements
- Cash -€146,204
down €146,204 (-78.8%), from €185,498 to €39,294
mainly Contributions, distributions and other (-€223,529) and Tax, wage and social debts (-€13,245)
- Receivables within one year -€21,065
down €21,065 (-62.5%), from €33,723 to €12,658
of which Trade receivables: -€21,054
- Tangible fixed assets -€2,671
down €2,671 (-45.3%), from €5,900 to €3,229
- Reserves -€155,360
down €155,360 (-89.7%), from €173,279 to €17,918
- Tax, wage and social debts -€13,245
down €13,245 (-30.1%), from €43,982 to €30,737
- Gross operating margin +€2,918
up €2,918 (+3.4%), from €86,718 to €89,636
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 | €225,516 | €55,657 | -€169,859 | -75.3% |
| Fixed assets | 21/28 | €5,900 | €3,229 | -€2,671 | -45.3% |
| Tangible fixed assets | 22/27 | €5,900 | €3,229 | -€2,671 | -45.3% |
| Furniture and vehicles | 24 | €5,900 | €3,229 | -€2,671 | -45.3% |
| Current assets | 29/58 | €219,616 | €52,428 | -€167,188 | -76.1% |
| Amounts receivable within one year | 40/41 | €33,723 | €12,658 | -€21,065 | -62.5% |
| Trade receivables | 40 | €33,707 | €12,654 | -€21,054 | -62.5% |
| Other amounts receivable | 41 | €16 | €5 | -€11 | -71.2% |
| Cash at bank and in hand | 54/58 | €185,498 | €39,294 | -€146,204 | -78.8% |
| Deferred charges and accrued income | 490/1 | €395 | €476 | +€81 | +20.5% |
| Total equity and liabilities | 10/49 | €225,516 | €55,657 | -€169,859 | -75.3% |
| Equity | 10/15 | €175,779 | €20,418 | -€155,360 | -88.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €173,279 | €17,918 | -€155,360 | -89.7% |
| Distributable reserves | 133 | €173,279 | €17,918 | -€155,360 | -89.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €49,737 | €35,239 | -€14,499 | -29.2% |
| Amounts payable within one year | 42/48 | €49,737 | €35,239 | -€14,499 | -29.2% |
| Trade debts | 44 | €117 | €45 | -€72 | -61.7% |
| Suppliers | 440/4 | €117 | €45 | -€72 | -61.7% |
| Taxes, remuneration and social security | 45 | €43,982 | €30,737 | -€13,245 | -30.1% |
| Taxes | 450/3 | €43,982 | €30,737 | -€13,245 | -30.1% |
| Other amounts payable | 47/48 | €5,638 | €4,457 | -€1,181 | -20.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,920 | €2,671 | -€249 | -8.5% |
| Other operating charges | 640/8 | €514 | €930 | +€416 | +80.9% |
| Gross operating margin | 9900 | €86,718 | €89,636 | +€2,918 | +3.4% |
| Operating profit (loss) | 9901 | €83,284 | €86,035 | +€2,751 | +3.3% |
| Financial income | 75/76B | €728 | €207 | -€521 | -71.6% |
| Recurring financial income | 75 | €728 | €207 | -€521 | -71.6% |
| Financial charges | 65/66B | €39 | €122 | +€83 | +212.0% |
| Recurring financial charges | 65 | €39 | €122 | +€83 | +212.0% |
| Profit (loss) for the period before taxes | 9903 | €83,973 | €86,120 | +€2,147 | +2.6% |
| Income taxes | 67/77 | €17,325 | €17,951 | +€626 | +3.6% |
| Profit (loss) for the period | 9904 | €66,648 | €68,169 | +€1,521 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,648 | €68,169 | +€1,521 | +2.3% |
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 9 October 2026 via checked.be.