VALO²: 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.
VALO²
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€34,887
up €34,887 (+16.9%), from €206,206 to €241,093
mainly Net result for the year (+€217,469) and Current investments (+€100,000)
- Receivables within one year +€13,867
up €13,867 (+3,990%), from €348 to €14,214
of which Trade receivables: +€13,867
- Other debts -€46,723
down €46,723 (-17.7%), from €264,545 to €217,822
- Tax, wage and social debts -€5,259
down €5,259 (-13.5%), from €38,905 to €33,647
of which Taxes: -€5,459
- Gross operating margin +€49,021
up €49,021 (+20.8%), from €235,828 to €284,848
- Taxes +€11,914
up €11,914 (+21.7%), from €54,843 to €66,757
- Financial income -€3,289
down €3,289 (-85.0%), from €3,869 to €580
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.
Derived cash bridge
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 | €307,353 | €257,002 | -€50,351 | -16.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €799 | €1,694 | +€895 | +112% |
| Tangible fixed assets | 22/27 | €799 | €1,694 | +€895 | +112% |
| Furniture and vehicles | 24 | €799 | €1,694 | +€895 | +112% |
| Current assets | 29/58 | €306,554 | €255,307 | -€51,247 | -16.7% |
| Amounts receivable within one year | 40/41 | €348 | €14,214 | +€13,867 | +3,990% |
| Trade receivables | 40 | €0 | €13,867 | +€13,867 | |
| Other amounts receivable | 41 | €348 | €348 | = | 0.0% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €206,206 | €241,093 | +€34,887 | +16.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €307,353 | €257,002 | -€50,351 | -16.4% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Amounts payable | 17/49 | €305,353 | €255,002 | -€50,351 | -16.5% |
| Amounts payable within one year | 42/48 | €303,753 | €253,336 | -€50,417 | -16.6% |
| Trade debts | 44 | €303 | €1,867 | +€1,565 | +517% |
| Suppliers | 440/4 | €303 | €1,867 | +€1,565 | +517% |
| Taxes, remuneration and social security | 45 | €38,905 | €33,647 | -€5,259 | -13.5% |
| Taxes | 450/3 | €36,576 | €31,117 | -€5,459 | -14.9% |
| Remuneration and social security | 454/9 | €2,329 | €2,529 | +€200 | +8.6% |
| Other amounts payable | 47/48 | €264,545 | €217,822 | -€46,723 | -17.7% |
| Accrued charges and deferred income | 492/3 | €1,600 | €1,666 | +€66 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,205 | €711 | -€494 | -41.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €235,828 | €284,848 | +€49,021 | +20.8% |
| Operating profit (loss) | 9901 | €234,235 | €283,738 | +€49,503 | +21.1% |
| Financial income | 75/76B | €3,869 | €580 | -€3,289 | -85.0% |
| Recurring financial income | 75 | €3,869 | €580 | -€3,289 | -85.0% |
| Financial charges | 65/66B | €91 | €92 | +€1 | +1.2% |
| Recurring financial charges | 65 | €91 | €92 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €238,013 | €284,226 | +€46,213 | +19.4% |
| Income taxes | 67/77 | €54,843 | €66,757 | +€11,914 | +21.7% |
| Profit (loss) for the period | 9904 | €183,170 | €217,469 | +€34,299 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,170 | €217,469 | +€34,299 | +18.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.