VALOMAER: 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.
VALOMAER
Largest movements
- Cash -€23,474
down €23,474 (-43.6%), from €53,808 to €30,334
mainly Contributions, distributions and other (-€25,000) and Other debts (-€9,129)
- Tangible fixed assets -€11,551
down €11,551 (-33.8%), from €34,201 to €22,649
of which Furniture and vehicles: -€6,330
- Receivables within one year +€1,604
new in 2025: €1,604
- Profit (loss) carried forward -€17,903
down €17,903 (-35.5%), from €50,407 to €32,504
- Other debts -€9,129
down €9,129 (-63.7%), from €14,337 to €5,208
- Debts after one year -€4,180
down €4,180 (-53.7%), from €7,789 to €3,610
- Tax, wage and social debts -€2,765
down €2,765 (-85.8%), from €3,224 to €459
- Accrued charges and deferred income +€1,192
new in 2025: €1,192
- Gross operating margin +€10,753
up €10,753 (+77.8%), from €13,817 to €24,570
- Taxes +€1,528
up €1,528 (+176%), from €868 to €2,396
- Staff costs -€1,090
down €1,090 (-37.5%), from €2,906 to €1,816
- Depreciation +€961
up €961 (+11.6%), from €8,299 to €9,260
- Other operating charges -€283
down €283 (-21.0%), from €1,345 to €1,062
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 | €93,831 | €60,353 | -€33,478 | -35.7% |
| Fixed assets | 21/28 | €34,201 | €22,649 | -€11,551 | -33.8% |
| Tangible fixed assets | 22/27 | €34,201 | €22,649 | -€11,551 | -33.8% |
| Land and buildings | 22 | €722 | €580 | -€142 | -19.7% |
| Plant, machinery and equipment | 23 | €12,713 | €7,633 | -€5,080 | -40.0% |
| Furniture and vehicles | 24 | €20,766 | €14,436 | -€6,330 | -30.5% |
| Current assets | 29/58 | €59,630 | €37,704 | -€21,926 | -36.8% |
| Stocks and contracts in progress | 3 | €5,822 | €5,765 | -€57 | -1.0% |
| Stocks | 30/36 | €5,822 | €5,765 | -€57 | -1.0% |
| Amounts receivable within one year | 40/41 | - | €1,604 | +€1,604 | |
| Other amounts receivable | 41 | - | €1,604 | +€1,604 | |
| Cash at bank and in hand | 54/58 | €53,808 | €30,334 | -€23,474 | -43.6% |
| Total equity and liabilities | 10/49 | €93,831 | €60,353 | -€33,478 | -35.7% |
| Equity | 10/15 | €63,607 | €45,704 | -€17,903 | -28.1% |
| Contributions | 10/11 | €12,560 | €12,560 | = | 0.0% |
| Reserves | 13 | €640 | €640 | = | 0.0% |
| Distributable reserves | 133 | €640 | €640 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,407 | €32,504 | -€17,903 | -35.5% |
| Amounts payable | 17/49 | €30,224 | €14,649 | -€15,575 | -51.5% |
| Amounts payable after more than one year | 17 | €7,789 | €3,610 | -€4,180 | -53.7% |
| Financial debts | 170/4 | €7,789 | €3,610 | -€4,180 | -53.7% |
| Amounts payable within one year | 42/48 | €22,434 | €9,847 | -€12,587 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €4,020 | €4,180 | +€159 | +4.0% |
| Trade debts | 44 | €853 | - | -€853 | |
| Suppliers | 440/4 | €853 | - | -€853 | |
| Taxes, remuneration and social security | 45 | €3,224 | €459 | -€2,765 | -85.8% |
| Taxes | 450/3 | €3,224 | €459 | -€2,765 | -85.8% |
| Other amounts payable | 47/48 | €14,337 | €5,208 | -€9,129 | -63.7% |
| Accrued charges and deferred income | 492/3 | - | €1,192 | +€1,192 | |
| Remuneration, social security and pensions | 62 | €2,906 | €1,816 | -€1,090 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,299 | €9,260 | +€961 | +11.6% |
| Other operating charges | 640/8 | €1,345 | €1,062 | -€283 | -21.0% |
| Non-recurring operating charges | 66A | - | €2,291 | +€2,291 | |
| Gross operating margin | 9900 | €13,817 | €24,570 | +€10,753 | +77.8% |
| Operating profit (loss) | 9901 | €1,267 | €10,141 | +€8,873 | +700% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €808 | €647 | -€161 | -19.9% |
| Recurring financial charges | 65 | €808 | €647 | -€161 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €459 | €9,493 | +€9,034 | +1,969% |
| Income taxes | 67/77 | €868 | €2,396 | +€1,528 | +176% |
| Profit (loss) for the period | 9904 | -€409 | €7,097 | +€7,506 | |
| Profit (loss) for the period to be appropriated | 9905 | -€409 | €7,097 | +€7,506 |
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 22 October 2026 via checked.be.