VALBOYOU: 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.
VALBOYOU
Largest movements
- Current investments +€2.2m
up €2.2m (+330.8%), from €650,000 to €2.8m
- Receivables within one year +€934,627
up €934,627 (+122.2%), from €764,558 to €1.7m
of which Trade receivables: +€944,627
- Cash -€735,779
down €735,779 (-92.3%), from €796,871 to €61,092
mainly Contributions, distributions and other (-€4.3m) and Current investments (-€2.2m)
- Tangible fixed assets +€202,818
up €202,818 (+18.7%), from €1.1m to €1.3m
of which Land and buildings: +€205,000
- Other debts +€2.4m
up €2.4m (+116791.0%), from €2,054 to €2.4m
- Reserves -€1.0m
down €1.0m (-45.0%), from €2.3m to €1.2m
- Tax, wage and social debts +€969,849
up €969,849 (+108.4%), from €894,815 to €1.9m
of which Taxes: +€968,783
- Trade debts +€213,653
up €213,653 (+2489.7%), from €8,582 to €222,235
- Gross operating margin +€1.6m
up €1.6m (+54.2%), from €3.0m to €4.6m
- Taxes +€414,627
up €414,627 (+61.9%), from €670,372 to €1.1m
- Depreciation +€67,054
up €67,054 (+40.9%), from €163,819 to €230,873
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 | €3,371,161 | €5,904,160 | +€2.5m | +75.1% |
| Fixed assets | 21/28 | €1,155,290 | €1,340,808 | +€185,518 | +16.1% |
| Intangible fixed assets | 21 | €68,942 | €51,642 | -€17,300 | -25.1% |
| Tangible fixed assets | 22/27 | €1,086,348 | €1,289,167 | +€202,818 | +18.7% |
| Land and buildings | 22 | €67,919 | €272,919 | +€205,000 | +301.8% |
| Plant, machinery and equipment | 23 | €774,088 | €795,435 | +€21,347 | +2.8% |
| Furniture and vehicles | 24 | €51,440 | €72,512 | +€21,072 | +41.0% |
| Leasing and similar rights | 25 | €192,901 | €148,301 | -€44,600 | -23.1% |
| Current assets | 29/58 | €2,215,871 | €4,563,351 | +€2.3m | +105.9% |
| Amounts receivable within one year | 40/41 | €764,558 | €1,699,185 | +€934,627 | +122.2% |
| Trade receivables | 40 | €754,558 | €1,699,185 | +€944,627 | +125.2% |
| Other amounts receivable | 41 | €10,000 | - | -€10,000 | |
| Current investments | 50/53 | €650,000 | €2,800,000 | +€2.2m | +330.8% |
| Cash at bank and in hand | 54/58 | €796,871 | €61,092 | -€735,779 | -92.3% |
| Deferred charges and accrued income | 490/1 | €4,442 | €3,073 | -€1,368 | -30.8% |
| Total equity and liabilities | 10/49 | €3,371,161 | €5,904,160 | +€2.5m | +75.1% |
| Equity | 10/15 | €2,284,219 | €1,270,151 | -€1.0m | -44.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €2,254,219 | €1,240,151 | -€1.0m | -45.0% |
| Distributable reserves | 133 | €2,254,219 | €1,240,151 | -€1.0m | -45.0% |
| Amounts payable | 17/49 | €1,086,942 | €4,634,008 | +€3.5m | +326.3% |
| Amounts payable after more than one year | 17 | €146,434 | €110,484 | -€35,950 | -24.6% |
| Financial debts | 170/4 | €146,434 | €110,484 | -€35,950 | -24.6% |
| Amounts payable within one year | 42/48 | €940,341 | €4,523,426 | +€3.6m | +381.0% |
| Current portion of amounts payable after more than one year | 42 | €34,891 | €35,950 | +€1,059 | +3.0% |
| Trade debts | 44 | €8,582 | €222,235 | +€213,653 | +2489.7% |
| Suppliers | 440/4 | €8,582 | €222,235 | +€213,653 | +2489.7% |
| Taxes, remuneration and social security | 45 | €894,815 | €1,864,663 | +€969,849 | +108.4% |
| Taxes | 450/3 | €888,783 | €1,857,567 | +€968,783 | +109.0% |
| Remuneration and social security | 454/9 | €6,032 | €7,097 | +€1,065 | +17.7% |
| Other amounts payable | 47/48 | €2,054 | €2,400,578 | +€2.4m | +116791.0% |
| Accrued charges and deferred income | 492/3 | €167 | €98 | -€69 | -41.2% |
| Remuneration, social security and pensions | 62 | €53,639 | €85,253 | +€31,615 | +58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,819 | €230,873 | +€67,054 | +40.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,745 | - | -€17,745 | |
| Other operating charges | 640/8 | €1,058 | €7,938 | +€6,880 | +650.5% |
| Gross operating margin | 9900 | €3,009,234 | €4,640,033 | +€1.6m | +54.2% |
| Operating profit (loss) | 9901 | €2,772,973 | €4,315,968 | +€1.5m | +55.6% |
| Financial income | 75/76B | €2,231 | €36,423 | +€34,192 | +1532.7% |
| Recurring financial income | 75 | €2,231 | €36,423 | +€34,192 | +1532.7% |
| Financial charges | 65/66B | €12,259 | €6,460 | -€5,799 | -47.3% |
| Recurring financial charges | 65 | €12,259 | €6,460 | -€5,799 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €2,762,944 | €4,345,931 | +€1.6m | +57.3% |
| Income taxes | 67/77 | €670,372 | €1,084,999 | +€414,627 | +61.9% |
| Profit (loss) for the period | 9904 | €2,092,572 | €3,260,932 | +€1.2m | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,092,572 | €3,260,932 | +€1.2m | +55.8% |
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 6 October 2026 via checked.be.