VaLGaMos: 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.
VaLGaMos
Largest movements
- Receivables within one year -€1,084
down €1,084 (-9.7%), from €11,150 to €10,066
of which Trade receivables: -€1,092
- Tangible fixed assets -€573
down €573 (-34.0%), from €1,687 to €1,114
- Other debts -€15,421
down €15,421 (-13.1%), from €118,128 to €102,706
- Profit (loss) carried forward +€8,142
up €8,142 (+6.1%), from -€132,833 to -€124,692
- Short-term financial debts +€6,647
up €6,647 (+211%), from €3,155 to €9,802
- Tax, wage and social debts -€1,313
down €1,313 (-35.5%), from €3,699 to €2,386
- Trade debts +€288
up €288 (+13.8%), from €2,089 to €2,377
- Gross operating margin +€4,752
up €4,752 (+68.7%), from €6,921 to €11,673
- Other operating charges +€1,579
new in 2025: €1,579
- Financial charges +€455
up €455 (+80.8%), from €563 to €1,018
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,837 | €11,180 | -€1,657 | -12.9% |
| Fixed assets | 21/28 | €1,687 | €1,114 | -€573 | -34.0% |
| Tangible fixed assets | 22/27 | €1,687 | €1,114 | -€573 | -34.0% |
| Furniture and vehicles | 24 | €1,687 | €1,114 | -€573 | -34.0% |
| Current assets | 29/58 | €11,150 | €10,066 | -€1,084 | -9.7% |
| Amounts receivable within one year | 40/41 | €11,150 | €10,066 | -€1,084 | -9.7% |
| Trade receivables | 40 | €11,150 | €10,058 | -€1,092 | -9.8% |
| Other amounts receivable | 41 | - | €8 | +€8 | |
| Total equity and liabilities | 10/49 | €12,837 | €11,180 | -€1,657 | -12.9% |
| Equity | 10/15 | -€114,233 | -€106,092 | +€8,142 | +7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,833 | -€124,692 | +€8,142 | +6.1% |
| Amounts payable | 17/49 | €127,070 | €117,272 | -€9,798 | -7.7% |
| Amounts payable within one year | 42/48 | €127,070 | €117,272 | -€9,798 | -7.7% |
| Financial debts | 43 | €3,155 | €9,802 | +€6,647 | +211% |
| Credit institutions | 430/8 | €3,155 | €9,802 | +€6,647 | +211% |
| Trade debts | 44 | €2,089 | €2,377 | +€288 | +13.8% |
| Suppliers | 440/4 | €2,089 | €2,377 | +€288 | +13.8% |
| Taxes, remuneration and social security | 45 | €3,699 | €2,386 | -€1,313 | -35.5% |
| Taxes | 450/3 | €3,699 | €2,386 | -€1,313 | -35.5% |
| Other amounts payable | 47/48 | €118,128 | €102,706 | -€15,421 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €573 | = | 0.0% |
| Other operating charges | 640/8 | - | €1,579 | +€1,579 | |
| Gross operating margin | 9900 | €6,921 | €11,673 | +€4,752 | +68.7% |
| Operating profit (loss) | 9901 | €6,348 | €9,521 | +€3,173 | +50.0% |
| Financial charges | 65/66B | €563 | €1,018 | +€455 | +80.8% |
| Recurring financial charges | 65 | €563 | €1,018 | +€455 | +80.8% |
| Profit (loss) for the period before taxes | 9903 | €5,785 | €8,502 | +€2,718 | +47.0% |
| Income taxes | 67/77 | €368 | €361 | -€7 | -2.0% |
| Profit (loss) for the period | 9904 | €5,417 | €8,142 | +€2,725 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,417 | €8,142 | +€2,725 | +50.3% |
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 13 October 2026 via checked.be.