VALUBO: 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.
VALUBO
Largest movements
- Cash -€51,616
down €51,616 (-8.4%), from €613,650 to €562,034
mainly Net result for the year (-€57,805) and Other debts (-€30,292)
- Tangible fixed assets -€42,005
down €42,005 (-8.1%), from €521,479 to €479,474
- Profit (loss) carried forward -€57,805
down €57,805 (-17.9%), from €323,278 to €265,474
- Other debts -€30,292
down €30,292 (-7.6%), from €399,045 to €368,754
- Accrued charges and deferred income +€11,836
up €11,836 (+57.8%), from €20,466 to €32,302
- Gross operating margin -€74,931
down €74,931 (-83.8%), from €89,401 to €14,470
- Taxes -€5,211
no longer reported in 2025 (was €5,211)
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 | €1,154,024 | €1,068,305 | -€85,719 | -7.4% |
| Fixed assets | 21/28 | €521,479 | €479,474 | -€42,005 | -8.1% |
| Tangible fixed assets | 22/27 | €521,479 | €479,474 | -€42,005 | -8.1% |
| Land and buildings | 22 | €521,479 | €479,474 | -€42,005 | -8.1% |
| Current assets | 29/58 | €632,546 | €588,832 | -€43,714 | -6.9% |
| Amounts receivable within one year | 40/41 | €18,896 | €26,202 | +€7,306 | +38.7% |
| Trade receivables | 40 | €2,107 | €3,413 | +€1,306 | +62.0% |
| Other amounts receivable | 41 | €16,789 | €22,789 | +€6,000 | +35.7% |
| Cash at bank and in hand | 54/58 | €613,650 | €562,034 | -€51,616 | -8.4% |
| Deferred charges and accrued income | 490/1 | - | €596 | +€596 | |
| Total equity and liabilities | 10/49 | €1,154,024 | €1,068,305 | -€85,719 | -7.4% |
| Equity | 10/15 | €724,962 | €667,158 | -€57,805 | -8.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €339,711 | €339,711 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €333,513 | €333,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | €323,278 | €265,474 | -€57,805 | -17.9% |
| Amounts payable | 17/49 | €429,062 | €401,148 | -€27,914 | -6.5% |
| Amounts payable within one year | 42/48 | €408,596 | €368,845 | -€39,751 | -9.7% |
| Trade debts | 44 | - | €92 | +€92 | |
| Suppliers | 440/4 | - | €92 | +€92 | |
| Taxes, remuneration and social security | 45 | €9,551 | - | -€9,551 | |
| Taxes | 450/3 | €9,551 | - | -€9,551 | |
| Other amounts payable | 47/48 | €399,045 | €368,754 | -€30,292 | -7.6% |
| Accrued charges and deferred income | 492/3 | €20,466 | €32,302 | +€11,836 | +57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,031 | €44,459 | -€572 | -1.3% |
| Other operating charges | 640/8 | €11,791 | €12,161 | +€369 | +3.1% |
| Gross operating margin | 9900 | €89,401 | €14,470 | -€74,931 | -83.8% |
| Operating profit (loss) | 9901 | €32,578 | -€42,150 | -€74,729 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €15,972 | €15,655 | -€316 | -2.0% |
| Recurring financial charges | 65 | €15,972 | €15,655 | -€316 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €16,607 | -€57,805 | -€74,411 | |
| Income taxes | 67/77 | €5,211 | - | -€5,211 | |
| Profit (loss) for the period | 9904 | €11,396 | -€57,805 | -€69,201 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,396 | -€57,805 | -€69,201 |
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 29 September 2026 via checked.be.