VALGAS: 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.
VALGAS
Largest movements
- Deferred charges and accrued income +€27,454
new in 2025: €27,454
- Cash +€16,119
up €16,119 (+805.9%), from €2,000 to €18,119
mainly Net result for the year (+€36,325) and Tax, wage and social debts (+€9,307)
- Receivables within one year +€2,059
new in 2025: €2,059
- Formation expenses -€1,647
down €1,647 (-100.0%), from €1,647 to €0
- Reserves +€35,492
new in 2025: €35,492
- Tax, wage and social debts +€9,307
new in 2025: €9,307
- Other debts -€814
down €814 (-49.4%), from €1,647 to €833
- Gross operating margin +€47,448
new in 2025: €47,448
- Taxes +€9,307
new in 2025: €9,307
- Depreciation +€1,647
new in 2025: €1,647
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
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 | €3,647 | €47,632 | +€43,985 | +1206.2% |
| Formation expenses | 20 | €1,647 | €0 | -€1,647 | -100.0% |
| Current assets | 29/58 | €2,000 | €47,632 | +€45,632 | +2281.6% |
| Amounts receivable within one year | 40/41 | - | €2,059 | +€2,059 | |
| Other amounts receivable | 41 | - | €2,059 | +€2,059 | |
| Cash at bank and in hand | 54/58 | €2,000 | €18,119 | +€16,119 | +805.9% |
| Deferred charges and accrued income | 490/1 | - | €27,454 | +€27,454 | |
| Total equity and liabilities | 10/49 | €3,647 | €47,632 | +€43,985 | +1206.2% |
| Equity | 10/15 | €2,000 | €37,492 | +€35,492 | +1774.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €35,492 | +€35,492 | |
| Distributable reserves | 133 | - | €35,492 | +€35,492 | |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,647 | €10,140 | +€8,493 | +515.8% |
| Amounts payable within one year | 42/48 | €1,647 | €10,140 | +€8,493 | +515.8% |
| Taxes, remuneration and social security | 45 | - | €9,307 | +€9,307 | |
| Taxes | 450/3 | - | €9,307 | +€9,307 | |
| Other amounts payable | 47/48 | €1,647 | €833 | -€814 | -49.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,647 | +€1,647 | |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | - | €47,448 | +€47,448 | |
| Operating profit (loss) | 9901 | - | €45,673 | +€45,673 | |
| Financial charges | 65/66B | - | €41 | +€41 | |
| Recurring financial charges | 65 | - | €41 | +€41 | |
| Profit (loss) for the period before taxes | 9903 | - | €45,632 | +€45,632 | |
| Income taxes | 67/77 | - | €9,307 | +€9,307 | |
| Profit (loss) for the period | 9904 | - | €36,325 | +€36,325 | |
| Profit (loss) for the period to be appropriated | 9905 | - | €36,325 | +€36,325 |
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 7 October 2026 via checked.be.