VALOMO: what changed
Two fiscal 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.
VALOMO
Largest movements
- Tangible fixed assets -€103,834
down €103,834 (-28.0%), from €370,971 to €267,137
of which Land and buildings: -€73,375
- Cash +€85,634
up €85,634 (+21.0%), from €407,074 to €492,708
mainly Depreciation (+€104,954) and Net result for the year (+€13,944)
- Debts after one year -€30,000
down €30,000 (-34.3%), from €87,500 to €57,500
- Trade debts -€15,613
down €15,613 (-59.7%), from €26,132 to €10,519
- Tax, wage and social debts +€13,668
up €13,668 (+114.8%), from €11,910 to €25,577
- Gross operating margin -€130,256
down €130,256 (-48.6%), from €268,206 to €137,950
- Depreciation -€10,810
down €10,810 (-9.3%), from €115,764 to €104,954
- Staff costs -€4,986
down €4,986 (-59.3%), from €8,403 to €3,416
- Taxes +€3,607
up €3,607 (+71.3%), from €5,060 to €8,667
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 | €872,719 | €856,490 | -€16,229 | -1.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €394,411 | €290,577 | -€103,834 | -26.3% |
| Tangible fixed assets | 22/27 | €370,971 | €267,137 | -€103,834 | -28.0% |
| Land and buildings | 22 | €319,932 | €246,557 | -€73,375 | -22.9% |
| Plant, machinery and equipment | 23 | €20,113 | €8,535 | -€11,578 | -57.6% |
| Furniture and vehicles | 24 | €30,926 | €12,045 | -€18,881 | -61.1% |
| Financial fixed assets | 28 | €23,440 | €23,440 | = | 0.0% |
| Current assets | 29/58 | €478,308 | €565,912 | +€87,605 | +18.3% |
| Stocks and contracts in progress | 3 | €5,750 | €6,387 | +€638 | +11.1% |
| Stocks | 30/36 | €5,750 | €6,387 | +€638 | +11.1% |
| Amounts receivable within one year | 40/41 | €64,458 | €66,817 | +€2,359 | +3.7% |
| Trade receivables | 40 | €25,093 | €31,247 | +€6,154 | +24.5% |
| Other amounts receivable | 41 | €39,365 | €35,570 | -€3,795 | -9.6% |
| Cash at bank and in hand | 54/58 | €407,074 | €492,708 | +€85,634 | +21.0% |
| Deferred charges and accrued income | 490/1 | €1,026 | - | -€1,026 | |
| Total equity and liabilities | 10/49 | €872,719 | €856,490 | -€16,229 | -1.9% |
| Equity | 10/15 | €716,279 | €730,223 | +€13,944 | +1.9% |
| Reserves | 13 | €721,806 | €730,223 | +€8,416 | +1.2% |
| Tax-exempt reserves | 132 | €11,319 | €11,319 | = | 0.0% |
| Distributable reserves | 133 | €710,487 | €718,903 | +€8,416 | +1.2% |
| Profit (loss) carried forward | 14 | -€5,528 | - | +€5,528 | |
| Amounts payable | 17/49 | €156,441 | €126,267 | -€30,173 | -19.3% |
| Amounts payable after more than one year | 17 | €87,500 | €57,500 | -€30,000 | -34.3% |
| Financial debts | 170/4 | €87,500 | €57,500 | -€30,000 | -34.3% |
| Amounts payable within one year | 42/48 | €68,941 | €68,767 | -€173 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €26,132 | €10,519 | -€15,613 | -59.7% |
| Suppliers | 440/4 | €26,132 | €10,519 | -€15,613 | -59.7% |
| Taxes, remuneration and social security | 45 | €11,910 | €25,577 | +€13,668 | +114.8% |
| Taxes | 450/3 | €11,910 | €25,577 | +€13,668 | +114.8% |
| Other amounts payable | 47/48 | €899 | €2,671 | +€1,772 | +197.2% |
| Non-recurring operating income | 76A | - | €9,328 | +€9,328 | |
| Remuneration, social security and pensions | 62 | €8,403 | €3,416 | -€4,986 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,764 | €104,954 | -€10,810 | -9.3% |
| Other operating charges | 640/8 | €5,557 | €5,296 | -€261 | -4.7% |
| Gross operating margin | 9900 | €268,206 | €137,950 | -€130,256 | -48.6% |
| Operating profit (loss) | 9901 | €138,483 | €24,284 | -€114,199 | -82.5% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €2,173 | €1,705 | -€468 | -21.6% |
| Recurring financial charges | 65 | €2,173 | €1,705 | -€468 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €136,310 | €22,611 | -€113,699 | -83.4% |
| Income taxes | 67/77 | €5,060 | €8,667 | +€3,607 | +71.3% |
| Profit (loss) for the period | 9904 | €131,250 | €13,944 | -€117,306 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €131,250 | €13,944 | -€117,306 | -89.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.