VALO: what changed
Two financial 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.
VALO
Largest movements
- Receivables within one year +€628,292
up €628,292 (+1334.6%), from €47,078 to €675,371
of which Other amounts receivable: +€628,292
- Receivables after one year -€460,000
down €460,000 (-100.0%), from €460,000 to €0
- Cash -€145,863
down €145,863 (-72.5%), from €201,203 to €55,340
mainly Receivables within one year (-€628,292) and Current investments (-€76,066)
- Current investments +€76,066
up €76,066 (+39.1%), from €194,634 to €270,700
- Deferred charges and accrued income -€14,853
down €14,853 (-98.7%), from €15,042 to €189
- Reserves +€78,141
up €78,141 (+9.4%), from €834,563 to €912,704
of which Distributable reserves: +€78,141
- Tax, wage and social debts +€14,715
up €14,715 (+142.8%), from €10,307 to €25,022
- Financial income +€100,266
up €100,266 (+464.6%), from €21,582 to €121,849
- Financial charges +€47,634
up €47,634 (+964.4%), from €4,940 to €52,574
- Taxes +€21,794
up €21,794 (+44.2%), from €49,327 to €71,121
- Gross operating margin +€8,775
up €8,775 (+6.3%), from €138,605 to €147,380
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 | €918,333 | €1,001,975 | +€83,642 | +9.1% |
| Fixed assets | 21/28 | €375 | €375 | = | 0.0% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €917,958 | €1,001,600 | +€83,642 | +9.1% |
| Amounts receivable after more than one year | 29 | €460,000 | €0 | -€460,000 | -100.0% |
| Other amounts receivable | 291 | €460,000 | €0 | -€460,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €47,078 | €675,371 | +€628,292 | +1334.6% |
| Trade receivables | 40 | €46,638 | €46,638 | = | 0.0% |
| Other amounts receivable | 41 | €440 | €628,732 | +€628,292 | +142780.7% |
| Current investments | 50/53 | €194,634 | €270,700 | +€76,066 | +39.1% |
| Cash at bank and in hand | 54/58 | €201,203 | €55,340 | -€145,863 | -72.5% |
| Deferred charges and accrued income | 490/1 | €15,042 | €189 | -€14,853 | -98.7% |
| Total equity and liabilities | 10/49 | €918,333 | €1,001,975 | +€83,642 | +9.1% |
| Equity | 10/15 | €897,063 | €975,204 | +€78,141 | +8.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €834,563 | €912,704 | +€78,141 | +9.4% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €828,313 | €906,454 | +€78,141 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,270 | €26,770 | +€5,500 | +25.9% |
| Amounts payable within one year | 42/48 | €21,270 | €26,714 | +€5,444 | +25.6% |
| Trade debts | 44 | €2,645 | €1,691 | -€954 | -36.1% |
| Suppliers | 440/4 | €2,645 | €1,691 | -€954 | -36.1% |
| Taxes, remuneration and social security | 45 | €10,307 | €25,022 | +€14,715 | +142.8% |
| Taxes | 450/3 | €10,307 | €25,022 | +€14,715 | +142.8% |
| Other amounts payable | 47/48 | €8,318 | €0 | -€8,318 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €57 | +€57 | |
| Other operating charges | 640/8 | €1,119 | €1,086 | -€34 | -3.0% |
| Gross operating margin | 9900 | €138,605 | €147,380 | +€8,775 | +6.3% |
| Operating profit (loss) | 9901 | €137,486 | €146,294 | +€8,808 | +6.4% |
| Financial income | 75/76B | €21,582 | €121,849 | +€100,266 | +464.6% |
| Recurring financial income | 75 | €21,582 | €121,849 | +€100,266 | +464.6% |
| Financial charges | 65/66B | €4,940 | €52,574 | +€47,634 | +964.4% |
| Recurring financial charges | 65 | €4,940 | €52,574 | +€47,634 | +964.4% |
| Profit (loss) for the period before taxes | 9903 | €154,129 | €215,570 | +€61,440 | +39.9% |
| Income taxes | 67/77 | €49,327 | €71,121 | +€21,794 | +44.2% |
| Profit (loss) for the period | 9904 | €104,802 | €144,449 | +€39,647 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €104,802 | €144,449 | +€39,647 | +37.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.