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
- Cash +€70,336
up €70,336 (+27.7%), from €253,664 to €324,000
mainly Net result for the year (+€69,776) and Depreciation (+€12,544)
- Tangible fixed assets -€8,101
down €8,101 (-26.2%), from €30,873 to €22,772
of which Furniture and vehicles: -€11,855
- Reserves +€69,776
up €69,776 (+23.7%), from €294,578 to €364,354
- Other debts -€7,385
down €7,385 (-94.2%), from €7,836 to €451
- Gross operating margin -€12,108
down €12,108 (-9.0%), from €133,876 to €121,769
- Taxes -€4,220
down €4,220 (-9.9%), from €42,456 to €38,237
From the 2022 result to the 2023 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.
Derived cash bridge
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €322,902 | €384,750 | +€61,848 | +19.2% |
| Fixed assets | 21/28 | €30,873 | €22,772 | -€8,101 | -26.2% |
| Tangible fixed assets | 22/27 | €30,873 | €22,772 | -€8,101 | -26.2% |
| Plant, machinery and equipment | 23 | - | €3,754 | +€3,754 | |
| Furniture and vehicles | 24 | €30,873 | €19,018 | -€11,855 | -38.4% |
| Current assets | 29/58 | €292,029 | €361,978 | +€69,949 | +24.0% |
| Amounts receivable within one year | 40/41 | €36,911 | €37,978 | +€1,067 | +2.9% |
| Trade receivables | 40 | €19,673 | €18,164 | -€1,509 | -7.7% |
| Other amounts receivable | 41 | €17,238 | €19,814 | +€2,576 | +14.9% |
| Cash at bank and in hand | 54/58 | €253,664 | €324,000 | +€70,336 | +27.7% |
| Deferred charges and accrued income | 490/1 | €1,454 | - | -€1,454 | |
| Total equity and liabilities | 10/49 | €322,902 | €384,750 | +€61,848 | +19.2% |
| Equity | 10/15 | €294,678 | €364,454 | +€69,776 | +23.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Capital | 10 | €100 | €100 | = | 0.0% |
| Issued capital | 100 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €294,578 | €364,354 | +€69,776 | +23.7% |
| Distributable reserves | 133 | €294,578 | €364,354 | +€69,776 | +23.7% |
| Amounts payable | 17/49 | €28,224 | €20,296 | -€7,928 | -28.1% |
| Amounts payable within one year | 42/48 | €28,224 | €20,296 | -€7,928 | -28.1% |
| Trade debts | 44 | €971 | €3,386 | +€2,416 | +249% |
| Suppliers | 440/4 | €971 | €3,386 | +€2,416 | +249% |
| Taxes, remuneration and social security | 45 | €19,418 | €16,459 | -€2,959 | -15.2% |
| Taxes | 450/3 | €19,418 | €16,459 | -€2,959 | -15.2% |
| Other amounts payable | 47/48 | €7,836 | €451 | -€7,385 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,551 | €12,544 | +€993 | +8.6% |
| Other operating charges | 640/8 | €1,218 | €1,789 | +€571 | +46.9% |
| Gross operating margin | 9900 | €133,876 | €121,769 | -€12,108 | -9.0% |
| Operating profit (loss) | 9901 | €121,108 | €107,436 | -€13,672 | -11.3% |
| Financial income | 75/76B | - | €627 | +€627 | |
| Recurring financial income | 75 | - | €627 | +€627 | |
| Financial charges | 65/66B | €87 | €50 | -€37 | -42.5% |
| Recurring financial charges | 65 | €87 | €50 | -€37 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €121,022 | €108,013 | -€13,009 | -10.7% |
| Income taxes | 67/77 | €42,456 | €38,237 | -€4,220 | -9.9% |
| Profit (loss) for the period | 9904 | €78,565 | €69,776 | -€8,789 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,565 | €69,776 | -€8,789 | -11.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.