VALAVI: 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.
VALAVI
Largest movements
- Receivables within one year +€6,066
up €6,066 (+20.3%), from €29,934 to €36,000
of which Other amounts receivable: +€10,255
- Cash +€5,613
up €5,613 (+25.2%), from €22,255 to €27,868
mainly Trade debts (+€10,073) and Net result for the year (+€6,157)
- Trade debts +€10,073
up €10,073 (+452.6%), from €2,225 to €12,298
- Reserves +€6,157
up €6,157 (+17.1%), from €35,967 to €42,124
- Tax, wage and social debts -€4,529
down €4,529 (-27.6%), from €16,433 to €11,904
- Gross operating margin -€20,240
down €20,240 (-60.0%), from €33,754 to €13,514
- Taxes -€2,545
down €2,545 (-30.6%), from €8,314 to €5,769
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 | €60,321 | €71,512 | +€11,191 | +18.6% |
| Fixed assets | 21/28 | €2,069 | €1,426 | -€643 | -31.1% |
| Tangible fixed assets | 22/27 | €2,069 | €1,426 | -€643 | -31.1% |
| Plant, machinery and equipment | 23 | €958 | €611 | -€347 | -36.2% |
| Furniture and vehicles | 24 | €1,111 | €815 | -€296 | -26.6% |
| Current assets | 29/58 | €58,252 | €70,085 | +€11,834 | +20.3% |
| Amounts receivable within one year | 40/41 | €29,934 | €36,000 | +€6,066 | +20.3% |
| Trade receivables | 40 | €29,934 | €25,745 | -€4,189 | -14.0% |
| Other amounts receivable | 41 | €0 | €10,255 | +€10,255 | |
| Cash at bank and in hand | 54/58 | €22,255 | €27,868 | +€5,613 | +25.2% |
| Deferred charges and accrued income | 490/1 | €6,063 | €6,217 | +€154 | +2.5% |
| Total equity and liabilities | 10/49 | €60,321 | €71,512 | +€11,191 | +18.6% |
| Equity | 10/15 | €40,967 | €47,124 | +€6,157 | +15.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,967 | €42,124 | +€6,157 | +17.1% |
| Distributable reserves | 133 | €35,967 | €42,124 | +€6,157 | +17.1% |
| Amounts payable | 17/49 | €19,354 | €24,388 | +€5,034 | +26.0% |
| Amounts payable within one year | 42/48 | €19,354 | €24,388 | +€5,034 | +26.0% |
| Financial debts | 43 | - | €186 | +€186 | |
| Credit institutions | 430/8 | - | €186 | +€186 | |
| Trade debts | 44 | €2,225 | €12,298 | +€10,073 | +452.6% |
| Suppliers | 440/4 | €2,225 | €12,298 | +€10,073 | +452.6% |
| Taxes, remuneration and social security | 45 | €16,433 | €11,904 | -€4,529 | -27.6% |
| Taxes | 450/3 | €16,433 | €11,904 | -€4,529 | -27.6% |
| Other amounts payable | 47/48 | €696 | €0 | -€696 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €379 | €643 | +€264 | +69.8% |
| Other operating charges | 640/8 | €756 | €1,079 | +€323 | +42.7% |
| Gross operating margin | 9900 | €33,754 | €13,514 | -€20,240 | -60.0% |
| Operating profit (loss) | 9901 | €32,620 | €11,792 | -€20,827 | -63.8% |
| Financial income | 75/76B | €1 | €190 | +€189 | +31500.0% |
| Recurring financial income | 75 | €1 | €190 | +€189 | +31500.0% |
| Financial charges | 65/66B | €141 | €55 | -€85 | -60.7% |
| Recurring financial charges | 65 | €141 | €55 | -€85 | -60.7% |
| Profit (loss) for the period before taxes | 9903 | €32,479 | €11,926 | -€20,553 | -63.3% |
| Income taxes | 67/77 | €8,314 | €5,769 | -€2,545 | -30.6% |
| Profit (loss) for the period | 9904 | €24,165 | €6,157 | -€18,008 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,165 | €6,157 | -€18,008 | -74.5% |
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 4 October 2026 via checked.be.