VALLUGA: 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.
VALLUGA
Largest movements
- Current investments +€24,961
up €24,961 (+104.4%), from €23,917 to €48,879
- Receivables within one year +€9,894
up €9,894 (+43.4%), from €22,814 to €32,708
of which Other amounts receivable: +€9,099
- Cash -€7,898
down €7,898 (-34.5%), from €22,920 to €15,022
mainly Contributions, distributions and other (-€25,000) and Current investments (-€24,961)
- Tangible fixed assets -€3,321
down €3,321 (-38.0%), from €8,744 to €5,423
of which Furniture and vehicles: -€3,309
- Profit (loss) carried forward +€18,901
up €18,901 (+17.8%), from €105,993 to €124,894
- Tax, wage and social debts +€3,002
up €3,002 (+50.9%), from €5,898 to €8,901
- Gross operating margin +€7,467
up €7,467 (+14.1%), from €52,835 to €60,302
- Depreciation +€1,496
up €1,496 (+82.0%), from €1,825 to €3,321
- Financial charges +€756
up €756 (+60.5%), from €1,250 to €2,006
- Taxes +€737
up €737 (+6.0%), from €12,200 to €12,936
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 | €115,761 | €138,467 | +€22,707 | +19.6% |
| Fixed assets | 21/28 | €8,744 | €5,423 | -€3,321 | -38.0% |
| Tangible fixed assets | 22/27 | €8,744 | €5,423 | -€3,321 | -38.0% |
| Plant, machinery and equipment | 23 | €12 | €0 | -€12 | -100.0% |
| Furniture and vehicles | 24 | €8,733 | €5,423 | -€3,309 | -37.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €107,016 | €133,044 | +€26,028 | +24.3% |
| Amounts receivable after more than one year | 29 | €37,366 | €36,436 | -€930 | -2.5% |
| Other amounts receivable | 291 | €37,366 | €36,436 | -€930 | -2.5% |
| Amounts receivable within one year | 40/41 | €22,814 | €32,708 | +€9,894 | +43.4% |
| Trade receivables | 40 | - | €796 | +€796 | |
| Other amounts receivable | 41 | €22,814 | €31,912 | +€9,099 | +39.9% |
| Current investments | 50/53 | €23,917 | €48,879 | +€24,961 | +104.4% |
| Cash at bank and in hand | 54/58 | €22,920 | €15,022 | -€7,898 | -34.5% |
| Total equity and liabilities | 10/49 | €115,761 | €138,467 | +€22,707 | +19.6% |
| Equity | 10/15 | €107,993 | €126,894 | +€18,901 | +17.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,993 | €124,894 | +€18,901 | +17.8% |
| Amounts payable | 17/49 | €7,768 | €11,573 | +€3,805 | +49.0% |
| Amounts payable within one year | 42/48 | €7,768 | €11,573 | +€3,805 | +49.0% |
| Trade debts | 44 | €1,869 | €2,672 | +€803 | +42.9% |
| Suppliers | 440/4 | €1,869 | €2,672 | +€803 | +42.9% |
| Taxes, remuneration and social security | 45 | €5,898 | €8,901 | +€3,002 | +50.9% |
| Taxes | 450/3 | €5,898 | €8,901 | +€3,002 | +50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,825 | €3,321 | +€1,496 | +82.0% |
| Other operating charges | 640/8 | €387 | €806 | +€418 | +108.0% |
| Gross operating margin | 9900 | €52,835 | €60,302 | +€7,467 | +14.1% |
| Operating profit (loss) | 9901 | €50,624 | €56,176 | +€5,552 | +11.0% |
| Financial income | 75/76B | €2,154 | €2,668 | +€514 | +23.8% |
| Recurring financial income | 75 | €2,154 | €2,668 | +€514 | +23.8% |
| Financial charges | 65/66B | €1,250 | €2,006 | +€756 | +60.5% |
| Recurring financial charges | 65 | €1,250 | €2,006 | +€756 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | €51,528 | €56,838 | +€5,310 | +10.3% |
| Income taxes | 67/77 | €12,200 | €12,936 | +€737 | +6.0% |
| Profit (loss) for the period | 9904 | €39,328 | €43,901 | +€4,573 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,328 | €43,901 | +€4,573 | +11.6% |
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 29 September 2026 via checked.be.