VALIMO: 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.
VALIMO
Largest movements
- Cash -€97,365
down €97,365 (-32.7%), from €298,055 to €200,690
mainly Net result for the year (-€119,862) and Trade debts (-€22,286)
- Receivables within one year +€18,863
up €18,863 (+37.6%), from €50,206 to €69,069
of which Trade receivables: +€24,574
- Tangible fixed assets -€16,406
down €16,406 (-3.7%), from €448,521 to €432,115
- Profit (loss) carried forward -€108,646
down €108,646 (-52.8%), from €205,694 to €97,048
- Advances received +€30,930
new in 2025: €30,930
- Trade debts -€22,286
down €22,286 (-62.2%), from €35,802 to €13,515
- Provisions +€16,261
up €16,261 (+41.1%), from €39,551 to €55,812
of which Provisions for liabilities and charges: +€20,000
- Reserves -€11,217
down €11,217 (-4.6%), from €245,053 to €233,836
of which Tax-exempt reserves: -€11,217
- Gross operating margin -€107,753
down €107,753, from €40,905 to -€66,848
- Provisions +€20,000
new in 2025: €20,000
- Other operating charges -€6,447
down €6,447 (-17.6%), from €36,528 to €30,081
- Write-downs +€4,427
up €4,427 (+31.0%), from -€14,296 to -€9,869
- Taxes -€4,400
no longer reported in 2025 (was €4,400)
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 | €798,769 | €703,217 | -€95,552 | -12.0% |
| Fixed assets | 21/28 | €448,521 | €432,115 | -€16,406 | -3.7% |
| Tangible fixed assets | 22/27 | €448,521 | €432,115 | -€16,406 | -3.7% |
| Land and buildings | 22 | €448,521 | €432,115 | -€16,406 | -3.7% |
| Current assets | 29/58 | €350,248 | €271,102 | -€79,146 | -22.6% |
| Amounts receivable within one year | 40/41 | €50,206 | €69,069 | +€18,863 | +37.6% |
| Trade receivables | 40 | €34,142 | €58,715 | +€24,574 | +72.0% |
| Other amounts receivable | 41 | €16,065 | €10,354 | -€5,711 | -35.5% |
| Cash at bank and in hand | 54/58 | €298,055 | €200,690 | -€97,365 | -32.7% |
| Deferred charges and accrued income | 490/1 | €1,987 | €1,343 | -€644 | -32.4% |
| Total equity and liabilities | 10/49 | €798,769 | €703,217 | -€95,552 | -12.0% |
| Equity | 10/15 | €714,753 | €594,891 | -€119,862 | -16.8% |
| Contributions | 10/11 | €264,007 | €264,007 | = | 0.0% |
| Reserves | 13 | €245,053 | €233,836 | -€11,217 | -4.6% |
| Tax-exempt reserves | 132 | €118,652 | €107,435 | -€11,217 | -9.5% |
| Distributable reserves | 133 | €126,401 | €126,401 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,694 | €97,048 | -€108,646 | -52.8% |
| Provisions and deferred taxes | 16 | €39,551 | €55,812 | +€16,261 | +41.1% |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Major repairs and maintenance | 162 | - | €20,000 | +€20,000 | |
| Deferred taxes | 168 | €39,551 | €35,812 | -€3,739 | -9.5% |
| Amounts payable | 17/49 | €44,465 | €52,514 | +€8,049 | +18.1% |
| Amounts payable after more than one year | 17 | €8,664 | €6,378 | -€2,286 | -26.4% |
| Other amounts payable | 178/9 | €8,664 | €6,378 | -€2,286 | -26.4% |
| Amounts payable within one year | 42/48 | €35,802 | €45,251 | +€9,450 | +26.4% |
| Trade debts | 44 | €35,802 | €13,515 | -€22,286 | -62.2% |
| Suppliers | 440/4 | €35,802 | €13,515 | -€22,286 | -62.2% |
| Advances received on contracts in progress | 46 | - | €30,930 | +€30,930 | |
| Other amounts payable | 47/48 | - | €806 | +€806 | |
| Accrued charges and deferred income | 492/3 | - | €885 | +€885 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,406 | €16,406 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€14,296 | -€9,869 | +€4,427 | +31.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €36,528 | €30,081 | -€6,447 | -17.6% |
| Gross operating margin | 9900 | €40,905 | -€66,848 | -€107,753 | |
| Operating profit (loss) | 9901 | €2,268 | -€123,466 | -€125,733 | |
| Financial income | 75/76B | €554 | €10 | -€544 | -98.2% |
| Recurring financial income | 75 | €554 | €10 | -€544 | -98.2% |
| Financial charges | 65/66B | €178 | €145 | -€33 | -18.4% |
| Recurring financial charges | 65 | €178 | €145 | -€33 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €2,643 | -€123,601 | -€126,244 | |
| Transfer from deferred taxes | 780 | €3,739 | €3,739 | = | 0.0% |
| Income taxes | 67/77 | €4,400 | - | -€4,400 | |
| Profit (loss) for the period | 9904 | €1,982 | -€119,862 | -€121,845 | |
| Transfer from tax-exempt reserves | 789 | €11,217 | €11,217 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,199 | -€108,646 | -€121,845 |
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.