VALOTRA: 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.
VALOTRA
Largest movements
- Tangible fixed assets +€78,312
up €78,312 (+61.1%), from €128,070 to €206,382
of which Furniture and vehicles: +€100,962
- Receivables within one year -€15,832
down €15,832 (-31.4%), from €50,452 to €34,621
of which Other amounts receivable: -€10,249
- Debts after one year +€50,472
up €50,472 (+83.9%), from €60,158 to €110,631
- Reserves -€50,000
down €50,000 (-61.0%), from €82,000 to €32,000
- Profit (loss) carried forward +€29,829
up €29,829 (+680%), from €4,385 to €34,215
- Other debts +€24,743
new in 2025: €24,743
- Current portion of long-term debt +€7,676
up €7,676 (+20.7%), from €37,123 to €44,799
- Gross operating margin +€18,989
up €18,989 (+14.4%), from €131,778 to €150,767
- Depreciation -€9,589
down €9,589 (-21.2%), from €45,215 to €35,626
- Other operating charges -€5,367
down €5,367 (-43.7%), from €12,293 to €6,926
- Staff costs +€3,920
up €3,920 (+6.4%), from €61,282 to €65,201
- Financial charges +€2,551
up €2,551 (+52.4%), from €4,869 to €7,419
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 | €220,278 | €280,480 | +€60,202 | +27.3% |
| Fixed assets | 21/28 | €128,070 | €206,397 | +€78,327 | +61.2% |
| Tangible fixed assets | 22/27 | €128,070 | €206,382 | +€78,312 | +61.1% |
| Plant, machinery and equipment | 23 | €9,096 | €4,745 | -€4,352 | -47.8% |
| Furniture and vehicles | 24 | €44,723 | €145,685 | +€100,962 | +226% |
| Leasing and similar rights | 25 | €73,752 | €55,566 | -€18,186 | -24.7% |
| Other tangible fixed assets | 26 | €499 | €387 | -€112 | -22.4% |
| Financial fixed assets | 28 | - | €15 | +€15 | |
| Current assets | 29/58 | €92,208 | €74,082 | -€18,125 | -19.7% |
| Amounts receivable within one year | 40/41 | €50,452 | €34,621 | -€15,832 | -31.4% |
| Trade receivables | 40 | €34,860 | €29,277 | -€5,583 | -16.0% |
| Other amounts receivable | 41 | €15,592 | €5,344 | -€10,249 | -65.7% |
| Cash at bank and in hand | 54/58 | €38,662 | €37,113 | -€1,549 | -4.0% |
| Deferred charges and accrued income | 490/1 | €3,093 | €2,349 | -€745 | -24.1% |
| Total equity and liabilities | 10/49 | €220,278 | €280,480 | +€60,202 | +27.3% |
| Equity | 10/15 | €91,385 | €71,215 | -€20,171 | -22.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €82,000 | €32,000 | -€50,000 | -61.0% |
| Distributable reserves | 133 | €82,000 | €32,000 | -€50,000 | -61.0% |
| Profit (loss) carried forward | 14 | €4,385 | €34,215 | +€29,829 | +680% |
| Amounts payable | 17/49 | €128,893 | €209,265 | +€80,373 | +62.4% |
| Amounts payable after more than one year | 17 | €60,158 | €110,631 | +€50,472 | +83.9% |
| Financial debts | 170/4 | €60,158 | €110,631 | +€50,472 | +83.9% |
| Amounts payable within one year | 42/48 | €68,734 | €97,390 | +€28,656 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €37,123 | €44,799 | +€7,676 | +20.7% |
| Trade debts | 44 | €14,068 | €12,673 | -€1,395 | -9.9% |
| Suppliers | 440/4 | €14,068 | €12,673 | -€1,395 | -9.9% |
| Taxes, remuneration and social security | 45 | €17,544 | €15,176 | -€2,368 | -13.5% |
| Taxes | 450/3 | €7,024 | €4,099 | -€2,925 | -41.6% |
| Remuneration and social security | 454/9 | €10,520 | €11,077 | +€557 | +5.3% |
| Other amounts payable | 47/48 | - | €24,743 | +€24,743 | |
| Accrued charges and deferred income | 492/3 | - | €1,244 | +€1,244 | |
| Remuneration, social security and pensions | 62 | €61,282 | €65,201 | +€3,920 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,215 | €35,626 | -€9,589 | -21.2% |
| Other operating charges | 640/8 | €12,293 | €6,926 | -€5,367 | -43.7% |
| Gross operating margin | 9900 | €131,778 | €150,767 | +€18,989 | +14.4% |
| Operating profit (loss) | 9901 | €12,988 | €43,013 | +€30,024 | +231% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,869 | €7,419 | +€2,551 | +52.4% |
| Recurring financial charges | 65 | €4,869 | €7,419 | +€2,551 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €8,119 | €35,593 | +€27,474 | +338% |
| Income taxes | 67/77 | €4,126 | €5,764 | +€1,638 | +39.7% |
| Profit (loss) for the period | 9904 | €3,994 | €29,829 | +€25,835 | +647% |
| Profit (loss) for the period to be appropriated | 9905 | €3,994 | €29,829 | +€25,835 | +647% |
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 17 October 2026 via checked.be.