Valomali: 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.
Valomali
Largest movements
- Receivables within one year -€70,152
down €70,152 (-34.4%), from €204,071 to €133,919
of which Other amounts receivable: -€63,427
- Cash -€19,916
down €19,916 (-41.6%), from €47,828 to €27,912
mainly Other debts (-€166,667) and Current portion of long-term debt (-€1,226)
- Tangible fixed assets -€4,153
down €4,153 (-44.3%), from €9,374 to €5,221
of which Land and buildings: -€3,609
- Other debts -€166,667
down €166,667 (-100.0%), from €166,667 to €0
- Profit (loss) carried forward +€67,860
up €67,860 (+90.0%), from €75,399 to €143,259
- Gross operating margin -€65,458
down €65,458 (-41.6%), from €157,230 to €91,772
- Taxes -€16,984
down €16,984 (-46.4%), from €36,620 to €19,636
- Financial income -€5,996
down €5,996 (-44.0%), from €13,628 to €7,632
- Financial charges -€1,617
down €1,617 (-19.9%), from €8,142 to €6,524
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.
Cash bridge derived
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 | €293,927 | €197,267 | -€96,660 | -32.9% |
| Fixed assets | 21/28 | €9,374 | €5,221 | -€4,153 | -44.3% |
| Tangible fixed assets | 22/27 | €9,374 | €5,221 | -€4,153 | -44.3% |
| Land and buildings | 22 | €8,119 | €4,510 | -€3,609 | -44.4% |
| Plant, machinery and equipment | 23 | €1,256 | €711 | -€545 | -43.4% |
| Current assets | 29/58 | €284,553 | €192,046 | -€92,506 | -32.5% |
| Amounts receivable within one year | 40/41 | €204,071 | €133,919 | -€70,152 | -34.4% |
| Trade receivables | 40 | €6,813 | €88 | -€6,726 | -98.7% |
| Other amounts receivable | 41 | €197,258 | €133,831 | -€63,427 | -32.2% |
| Current investments | 50/53 | €25,040 | €25,040 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,828 | €27,912 | -€19,916 | -41.6% |
| Deferred charges and accrued income | 490/1 | €7,613 | €5,175 | -€2,439 | -32.0% |
| Total equity and liabilities | 10/49 | €293,927 | €197,267 | -€96,660 | -32.9% |
| Equity | 10/15 | €96,220 | €164,080 | +€67,860 | +70.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,221 | €2,221 | = | 0.0% |
| Tax-exempt reserves | 132 | €361 | €361 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,399 | €143,259 | +€67,860 | +90.0% |
| Amounts payable | 17/49 | €197,707 | €33,187 | -€164,519 | -83.2% |
| Amounts payable within one year | 42/48 | €197,707 | €33,187 | -€164,519 | -83.2% |
| Current portion of amounts payable after more than one year | 42 | €1,226 | €0 | -€1,226 | -100.0% |
| Financial debts | 43 | €13,542 | €13,481 | -€61 | -0.5% |
| Credit institutions | 430/8 | €13,542 | €13,481 | -€61 | -0.5% |
| Trade debts | 44 | €4,746 | €6,136 | +€1,390 | +29.3% |
| Suppliers | 440/4 | €4,746 | €6,136 | +€1,390 | +29.3% |
| Taxes, remuneration and social security | 45 | €11,526 | €13,571 | +€2,045 | +17.7% |
| Taxes | 450/3 | €11,526 | €13,571 | +€2,045 | +17.7% |
| Other amounts payable | 47/48 | €166,667 | €0 | -€166,667 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,424 | €4,153 | -€271 | -6.1% |
| Other operating charges | 640/8 | €1,030 | €1,230 | +€200 | +19.4% |
| Gross operating margin | 9900 | €157,230 | €91,772 | -€65,458 | -41.6% |
| Operating profit (loss) | 9901 | €151,776 | €86,388 | -€65,388 | -43.1% |
| Financial income | 75/76B | €13,628 | €7,632 | -€5,996 | -44.0% |
| Recurring financial income | 75 | €13,628 | €7,632 | -€5,996 | -44.0% |
| Financial charges | 65/66B | €8,142 | €6,524 | -€1,617 | -19.9% |
| Recurring financial charges | 65 | €8,142 | €6,524 | -€1,617 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €157,262 | €87,496 | -€69,766 | -44.4% |
| Income taxes | 67/77 | €36,620 | €19,636 | -€16,984 | -46.4% |
| Profit (loss) for the period | 9904 | €120,642 | €67,860 | -€52,783 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €120,642 | €67,860 | -€52,783 | -43.8% |
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 12 October 2026 via checked.be.