Vallis: what changed
Vallis
Largest movements
- Current investments +€37,478
new in 2025: €37,478
- Cash -€32,775
down €32,775 (-58.6%), from €55,922 to €23,147
mainly Other debts (-€106,410) and Current investments (-€37,478)
- Other debts -€106,410
down €106,410 (-82.8%), from €128,482 to €22,072
- Reserves +€102,124
up €102,124 (+153%), from €66,821 to €168,945
- Tax, wage and social debts +€12,189
up €12,189 (+51.6%), from €23,623 to €35,812
- Debts after one year -€2,992
down €2,992 (-31.6%), from €9,456 to €6,464
- Gross operating margin +€46,714
up €46,714 (+49.3%), from €94,816 to €141,530
- Taxes +€12,189
up €12,189 (+50.8%), from €23,986 to €36,175
- Depreciation -€1,430
down €1,430 (-100%), from €1,430 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,087 | €239,696 | +€4,610 | +2.0% |
| Fixed assets | 21/28 | €178,032 | €178,032 | = | 0.0% |
| Financial fixed assets | 28 | €178,032 | €178,032 | = | 0.0% |
| Current assets | 29/58 | €57,055 | €61,665 | +€4,610 | +8.1% |
| Current investments | 50/53 | - | €37,478 | +€37,478 | |
| Cash at bank and in hand | 54/58 | €55,922 | €23,147 | -€32,775 | -58.6% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,040 | -€94 | -8.3% |
| Total equity and liabilities | 10/49 | €235,087 | €239,696 | +€4,610 | +2.0% |
| Equity | 10/15 | €69,321 | €171,445 | +€102,124 | +147% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,821 | €168,945 | +€102,124 | +153% |
| Distributable reserves | 133 | €66,821 | €168,945 | +€102,124 | +153% |
| Amounts payable | 17/49 | €165,766 | €68,251 | -€97,514 | -58.8% |
| Amounts payable after more than one year | 17 | €9,456 | €6,464 | -€2,992 | -31.6% |
| Financial debts | 170/4 | €9,456 | €6,464 | -€2,992 | -31.6% |
| Amounts payable within one year | 42/48 | €156,310 | €61,787 | -€94,522 | -60.5% |
| Current portion of amounts payable after more than one year | 42 | €2,843 | €2,992 | +€149 | +5.2% |
| Trade debts | 44 | €1,362 | €912 | -€450 | -33.0% |
| Suppliers | 440/4 | €1,362 | €912 | -€450 | -33.0% |
| Taxes, remuneration and social security | 45 | €23,623 | €35,812 | +€12,189 | +51.6% |
| Taxes | 450/3 | €23,623 | €35,812 | +€12,189 | +51.6% |
| Other amounts payable | 47/48 | €128,482 | €22,072 | -€106,410 | -82.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,430 | €0 | -€1,430 | -100% |
| Other operating charges | 640/8 | €77 | €247 | +€170 | +220% |
| Gross operating margin | 9900 | €94,816 | €141,530 | +€46,714 | +49.3% |
| Operating profit (loss) | 9901 | €93,309 | €141,284 | +€47,974 | +51.4% |
| Financial income | 75/76B | €1,207 | €1,209 | +€2 | +0.2% |
| Recurring financial income | 75 | €1,207 | €1,209 | +€2 | +0.2% |
| Financial charges | 65/66B | €3,710 | €4,194 | +€484 | +13.1% |
| Recurring financial charges | 65 | €3,710 | €4,194 | +€484 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €90,807 | €138,299 | +€47,492 | +52.3% |
| Income taxes | 67/77 | €23,986 | €36,175 | +€12,189 | +50.8% |
| Profit (loss) for the period | 9904 | €66,821 | €102,124 | +€35,303 | +52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,821 | €102,124 | +€35,303 | +52.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.