VALMU: 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.
VALMU
Largest movements
- Cash -€14,138
down €14,138 (-91.8%), from €15,401 to €1,264
mainly Investment in fixed assets (net) (-€22,111) and Debts after one year (-€13,249)
- Receivables within one year +€10,944
up €10,944 (+9.6%), from €113,497 to €124,441
of which Other amounts receivable: +€16,380
- Intangible fixed assets -€9,000
down €9,000 (-20.0%), from €45,000 to €36,000
- Tangible fixed assets +€8,015
up €8,015 (+27.0%), from €29,668 to €37,683
of which Plant, machinery and equipment: +€10,870
- Financial fixed assets +€6,010
up €6,010 (+3642.4%), from €165 to €6,175
- Profit (loss) carried forward +€13,532
up €13,532 (+19.6%), from -€69,124 to -€55,592
- Debts after one year -€13,249
down €13,249 (-53.1%), from €24,972 to €11,723
- Trade debts -€12,435
down €12,435 (-15.0%), from €83,014 to €70,579
- Other debts +€9,664
up €9,664 (+74.3%), from €13,000 to €22,664
- Short-term financial debts +€7,141
up €7,141 (+123.5%), from €5,781 to €12,922
- Gross operating margin +€47,750
up €47,750 (+16.2%), from €294,546 to €342,296
- Staff costs -€38,779
down €38,779 (-12.2%), from €318,715 to €279,936
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €244,318 | €247,990 | +€3,672 | +1.5% |
| Fixed assets | 21/28 | €74,833 | €79,858 | +€5,025 | +6.7% |
| Intangible fixed assets | 21 | €45,000 | €36,000 | -€9,000 | -20.0% |
| Tangible fixed assets | 22/27 | €29,668 | €37,683 | +€8,015 | +27.0% |
| Plant, machinery and equipment | 23 | €18,129 | €29,000 | +€10,870 | +60.0% |
| Furniture and vehicles | 24 | €11,539 | €8,683 | -€2,855 | -24.7% |
| Financial fixed assets | 28 | €165 | €6,175 | +€6,010 | +3642.4% |
| Current assets | 29/58 | €169,485 | €168,132 | -€1,353 | -0.8% |
| Amounts receivable after more than one year | 29 | €13,418 | €10,694 | -€2,723 | -20.3% |
| Other amounts receivable | 291 | €13,418 | €10,694 | -€2,723 | -20.3% |
| Stocks and contracts in progress | 3 | €16,135 | €21,476 | +€5,341 | +33.1% |
| Stocks | 30/36 | €16,135 | €21,476 | +€5,341 | +33.1% |
| Amounts receivable within one year | 40/41 | €113,497 | €124,441 | +€10,944 | +9.6% |
| Trade receivables | 40 | €10,931 | €5,495 | -€5,435 | -49.7% |
| Other amounts receivable | 41 | €102,566 | €118,946 | +€16,380 | +16.0% |
| Cash at bank and in hand | 54/58 | €15,401 | €1,264 | -€14,138 | -91.8% |
| Deferred charges and accrued income | 490/1 | €11,035 | €10,257 | -€778 | -7.1% |
| Total equity and liabilities | 10/49 | €244,318 | €247,990 | +€3,672 | +1.5% |
| Equity | 10/15 | -€50,080 | -€36,548 | +€13,532 | +27.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,844 | €12,844 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,879 | €1,879 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,879 | €1,879 | = | 0.0% |
| Distributable reserves | 133 | €10,965 | €10,965 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,124 | -€55,592 | +€13,532 | +19.6% |
| Amounts payable | 17/49 | €294,398 | €284,538 | -€9,860 | -3.3% |
| Amounts payable after more than one year | 17 | €24,972 | €11,723 | -€13,249 | -53.1% |
| Financial debts | 170/4 | €24,972 | €11,723 | -€13,249 | -53.1% |
| Amounts payable within one year | 42/48 | €266,436 | €266,165 | -€271 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €14,128 | €13,527 | -€601 | -4.3% |
| Financial debts | 43 | €5,781 | €12,922 | +€7,141 | +123.5% |
| Credit institutions | 430/8 | €5,781 | €12,922 | +€7,141 | +123.5% |
| Trade debts | 44 | €83,014 | €70,579 | -€12,435 | -15.0% |
| Suppliers | 440/4 | €83,014 | €70,579 | -€12,435 | -15.0% |
| Taxes, remuneration and social security | 45 | €150,513 | €146,473 | -€4,040 | -2.7% |
| Taxes | 450/3 | €56,374 | €51,758 | -€4,616 | -8.2% |
| Remuneration and social security | 454/9 | €94,139 | €94,715 | +€577 | +0.6% |
| Other amounts payable | 47/48 | €13,000 | €22,664 | +€9,664 | +74.3% |
| Accrued charges and deferred income | 492/3 | €2,990 | €6,650 | +€3,659 | +122.4% |
| Non-recurring operating income | 76A | €310 | €0 | -€310 | -100.0% |
| Remuneration, social security and pensions | 62 | €318,715 | €279,936 | -€38,779 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,433 | €17,086 | -€348 | -2.0% |
| Other operating charges | 640/8 | €16,610 | €19,539 | +€2,929 | +17.6% |
| Non-recurring operating charges | 66A | €188 | €1,837 | +€1,649 | +879.3% |
| Gross operating margin | 9900 | €294,546 | €342,296 | +€47,750 | +16.2% |
| Operating profit (loss) | 9901 | -€58,401 | €23,898 | +€82,299 | |
| Financial income | 75/76B | €185 | €171 | -€13 | -7.2% |
| Recurring financial income | 75 | €185 | €171 | -€13 | -7.2% |
| Financial charges | 65/66B | €6,978 | €10,398 | +€3,419 | +49.0% |
| Recurring financial charges | 65 | €6,978 | €10,398 | +€3,419 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | -€65,194 | €13,672 | +€78,866 | |
| Income taxes | 67/77 | €143 | €140 | -€3 | -2.0% |
| Profit (loss) for the period | 9904 | -€65,337 | €13,532 | +€78,869 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,337 | €13,532 | +€78,869 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.