VALO GESTION: 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 GESTION
Largest movements
- Financial fixed assets -€421,000
no longer reported in 2025 (was €421,000)
- Cash -€30,588
down €30,588 (-54.1%), from €56,548 to €25,960
mainly Contributions, distributions and other (-€357,789) and Other debts (-€90,394)
- Tangible fixed assets +€28,227
up €28,227 (+2,391%), from €1,180 to €29,408
of which Furniture and vehicles: +€28,382
- Profit (loss) carried forward -€293,239
no longer reported in 2025 (was €293,239)
- Other debts -€90,394
down €90,394 (-62.1%), from €145,626 to €55,232
- Reserves -€30,344
down €30,344 (-56.8%), from €53,463 to €23,119
- Current portion of long-term debt +€7,528
up €7,528 (+41.5%), from €18,150 to €25,678
- Financial income -€416,534
down €416,534 (-98.9%), from €421,000 to €4,466
- Gross operating margin -€270,080
down €270,080 (-83.2%), from €324,533 to €54,453
- Depreciation +€4,730
up €4,730 (+926%), from €511 to €5,241
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 | €586,330 | €173,479 | -€412,850 | -70.4% |
| Fixed assets | 21/28 | €422,180 | €29,408 | -€392,773 | -93.0% |
| Tangible fixed assets | 22/27 | €1,180 | €29,408 | +€28,227 | +2,391% |
| Plant, machinery and equipment | 23 | €209 | €54 | -€155 | -74.0% |
| Furniture and vehicles | 24 | €971 | €29,353 | +€28,382 | +2,922% |
| Financial fixed assets | 28 | €421,000 | - | -€421,000 | |
| Current assets | 29/58 | €164,149 | €144,072 | -€20,078 | -12.2% |
| Amounts receivable after more than one year | 29 | €107,345 | €111,811 | +€4,466 | +4.2% |
| Other amounts receivable | 291 | €107,345 | €111,811 | +€4,466 | +4.2% |
| Amounts receivable within one year | 40/41 | €256 | €6,000 | +€5,744 | +2,243% |
| Trade receivables | 40 | €241 | - | -€241 | |
| Other amounts receivable | 41 | €15 | €6,000 | +€5,985 | +39,583% |
| Cash at bank and in hand | 54/58 | €56,548 | €25,960 | -€30,588 | -54.1% |
| Deferred charges and accrued income | 490/1 | - | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €586,330 | €173,479 | -€412,850 | -70.4% |
| Equity | 10/15 | €365,302 | €41,719 | -€323,583 | -88.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,463 | €23,119 | -€30,344 | -56.8% |
| Distributable reserves | 133 | €53,463 | €23,119 | -€30,344 | -56.8% |
| Profit (loss) carried forward | 14 | €293,239 | - | -€293,239 | |
| Amounts payable | 17/49 | €221,028 | €131,760 | -€89,267 | -40.4% |
| Amounts payable after more than one year | 17 | €45,300 | €43,813 | -€1,488 | -3.3% |
| Financial debts | 170/4 | €45,300 | €43,813 | -€1,488 | -3.3% |
| Amounts payable within one year | 42/48 | €174,548 | €87,948 | -€86,601 | -49.6% |
| Current portion of amounts payable after more than one year | 42 | €18,150 | €25,678 | +€7,528 | +41.5% |
| Trade debts | 44 | €1,480 | €793 | -€688 | -46.4% |
| Suppliers | 440/4 | €1,480 | €793 | -€688 | -46.4% |
| Taxes, remuneration and social security | 45 | €9,291 | €6,244 | -€3,047 | -32.8% |
| Taxes | 450/3 | €9,291 | €6,244 | -€3,047 | -32.8% |
| Other amounts payable | 47/48 | €145,626 | €55,232 | -€90,394 | -62.1% |
| Accrued charges and deferred income | 492/3 | €1,179 | - | -€1,179 | |
| Non-recurring operating income | 76A | €268,081 | - | -€268,081 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €511 | €5,241 | +€4,730 | +926% |
| Other operating charges | 640/8 | €1,058 | €2,133 | +€1,075 | +102% |
| Gross operating margin | 9900 | €324,533 | €54,453 | -€270,080 | -83.2% |
| Operating profit (loss) | 9901 | €322,964 | €47,079 | -€275,885 | -85.4% |
| Financial income | 75/76B | €421,000 | €4,466 | -€416,534 | -98.9% |
| Recurring financial income | 75 | €421,000 | €4,466 | -€416,534 | -98.9% |
| Financial charges | 65/66B | €3,632 | €2,852 | -€780 | -21.5% |
| Recurring financial charges | 65 | €3,632 | €2,852 | -€780 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €740,332 | €48,693 | -€691,639 | -93.4% |
| Income taxes | 67/77 | €13,522 | €14,486 | +€964 | +7.1% |
| Profit (loss) for the period | 9904 | €726,809 | €34,206 | -€692,603 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €726,809 | €34,206 | -€692,603 | -95.3% |
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 20 October 2026 via checked.be.