VALIGO: 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.
VALIGO
Largest movements
- Tangible fixed assets +€946
new in 2025: €946
- Receivables within one year -€613
down €613 (-2.0%), from €30,491 to €29,878
of which Trade receivables: -€847
- Reserves +€2,184
up €2,184 (+21.0%), from €10,405 to €12,589
- Tax, wage and social debts -€2,070
down €2,070 (-11.9%), from €17,370 to €15,300
- Trade debts +€453
up €453 (+9.5%), from €4,792 to €5,246
- Gross operating margin -€13,564
down €13,564 (-71.3%), from €19,026 to €5,462
- Taxes -€2,763
down €2,763 (-58.6%), from €4,716 to €1,953
- Other operating charges -€1,334
down €1,334 (-62.4%), from €2,139 to €805
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 | €35,068 | €35,635 | +€567 | +1.6% |
| Fixed assets | 21/28 | - | €946 | +€946 | |
| Tangible fixed assets | 22/27 | - | €946 | +€946 | |
| Plant, machinery and equipment | 23 | - | €946 | +€946 | |
| Current assets | 29/58 | €35,068 | €34,688 | -€379 | -1.1% |
| Amounts receivable within one year | 40/41 | €30,491 | €29,878 | -€613 | -2.0% |
| Trade receivables | 40 | €847 | - | -€847 | |
| Other amounts receivable | 41 | €29,644 | €29,878 | +€234 | +0.8% |
| Cash at bank and in hand | 54/58 | €4,577 | €4,811 | +€234 | +5.1% |
| Total equity and liabilities | 10/49 | €35,068 | €35,635 | +€567 | +1.6% |
| Equity | 10/15 | €12,905 | €15,089 | +€2,184 | +16.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €10,405 | €12,589 | +€2,184 | +21.0% |
| Distributable reserves | 133 | €10,405 | €12,589 | +€2,184 | +21.0% |
| Amounts payable | 17/49 | €22,163 | €20,546 | -€1,617 | -7.3% |
| Amounts payable within one year | 42/48 | €22,163 | €20,546 | -€1,617 | -7.3% |
| Trade debts | 44 | €4,792 | €5,246 | +€453 | +9.5% |
| Suppliers | 440/4 | €4,792 | €5,246 | +€453 | +9.5% |
| Taxes, remuneration and social security | 45 | €17,370 | €15,300 | -€2,070 | -11.9% |
| Taxes | 450/3 | €17,370 | €15,300 | -€2,070 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €158 | +€158 | |
| Other operating charges | 640/8 | €2,139 | €805 | -€1,334 | -62.4% |
| Non-recurring operating charges | 66A | €1,340 | - | -€1,340 | |
| Gross operating margin | 9900 | €19,026 | €5,462 | -€13,564 | -71.3% |
| Operating profit (loss) | 9901 | €15,546 | €4,498 | -€11,048 | -71.1% |
| Financial charges | 65/66B | €425 | €362 | -€63 | -14.8% |
| Recurring financial charges | 65 | €425 | €362 | -€63 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €15,121 | €4,136 | -€10,985 | -72.6% |
| Income taxes | 67/77 | €4,716 | €1,953 | -€2,763 | -58.6% |
| Profit (loss) for the period | 9904 | €10,405 | €2,184 | -€8,221 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,405 | €2,184 | -€8,221 | -79.0% |
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 28 September 2026 via checked.be.