VALUGA: 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.
What changed
VALUGA
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,242
2024 · €15,637-€33,879
Equity
€2.3m
2024 · €2.3m-€18,242
Cash
-
not filed
Balance sheet total
€3.4m
2024 · €3.4m-€46,370
Largest movements
Assets
- Tangible fixed assets -€50,040
down €50,040 (-5.8%), from €858,803 to €808,762
of which Land and buildings: -€36,017
Equity and liabilities
- Debts after one year -€57,000
down €57,000 (-37.6%), from €151,405 to €94,405
- Accrued charges and deferred income +€36,000
up €36,000 (+245.7%), from €14,650 to €50,650
Income statement
- Gross operating margin -€23,232
down €23,232 (-20.8%), from €111,868 to €88,636
- Depreciation +€4,404
up €4,404 (+8.9%), from €49,286 to €53,690
- Staff costs +€4,221
new in 2025: €4,221
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.
Result 2024
€15,637
Gross operating margin
-€23,232
Staff costs
-€4,221
Depreciation
-€4,404
Other operating charges
-€526
Financial income
+€11
Financial charges
-€719
Taxes
-€788
Result 2025
-€18,242
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,402,431 | €3,356,061 | -€46,370 | -1.4% |
| Fixed assets | 21/28 | €3,275,621 | €3,225,580 | -€50,040 | -1.5% |
| Tangible fixed assets | 22/27 | €858,803 | €808,762 | -€50,040 | -5.8% |
| Land and buildings | 22 | €702,498 | €666,482 | -€36,017 | -5.1% |
| Plant, machinery and equipment | 23 | €57,134 | €39,653 | -€17,482 | -30.6% |
| Furniture and vehicles | 24 | - | €3,458 | +€3,458 | |
| Other tangible fixed assets | 26 | €99,170 | €99,170 | = | 0.0% |
| Financial fixed assets | 28 | €2,416,818 | €2,416,818 | = | 0.0% |
| Current assets | 29/58 | €126,810 | €130,480 | +€3,670 | +2.9% |
| Amounts receivable within one year | 40/41 | €103,808 | €94,558 | -€9,250 | -8.9% |
| Trade receivables | 40 | €54,675 | €41,875 | -€12,800 | -23.4% |
| Other amounts receivable | 41 | €49,133 | €52,683 | +€3,550 | +7.2% |
| Deferred charges and accrued income | 490/1 | €23,002 | €35,922 | +€12,920 | +56.2% |
| Total equity and liabilities | 10/49 | €3,402,431 | €3,356,061 | -€46,370 | -1.4% |
| Equity | 10/15 | €2,293,358 | €2,275,116 | -€18,242 | -0.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,231,358 | €2,213,116 | -€18,242 | -0.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,225,158 | €2,206,916 | -€18,242 | -0.8% |
| Amounts payable | 17/49 | €1,109,073 | €1,080,945 | -€28,128 | -2.5% |
| Amounts payable after more than one year | 17 | €151,405 | €94,405 | -€57,000 | -37.6% |
| Financial debts | 170/4 | €151,405 | €94,405 | -€57,000 | -37.6% |
| Amounts payable within one year | 42/48 | €943,018 | €935,889 | -€7,128 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €75,065 | €57,000 | -€18,065 | -24.1% |
| Financial debts | 43 | €14,429 | - | -€14,429 | |
| Credit institutions | 430/8 | €6,573 | - | -€6,573 | |
| Other loans | 439 | €7,855 | - | -€7,855 | |
| Trade debts | 44 | €36,046 | €63,867 | +€27,821 | +77.2% |
| Suppliers | 440/4 | €36,046 | €63,867 | +€27,821 | +77.2% |
| Taxes, remuneration and social security | 45 | - | €11,248 | +€11,248 | |
| Taxes | 450/3 | - | €11,248 | +€11,248 | |
| Other amounts payable | 47/48 | €817,478 | €803,774 | -€13,704 | -1.7% |
| Accrued charges and deferred income | 492/3 | €14,650 | €50,650 | +€36,000 | +245.7% |
| Remuneration, social security and pensions | 62 | - | €4,221 | +€4,221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,286 | €53,690 | +€4,404 | +8.9% |
| Other operating charges | 640/8 | €10,521 | €11,046 | +€526 | +5.0% |
| Gross operating margin | 9900 | €111,868 | €88,636 | -€23,232 | -20.8% |
| Operating profit (loss) | 9901 | €52,061 | €19,679 | -€32,383 | -62.2% |
| Financial income | 75/76B | €0 | €11 | +€11 | +52950.0% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +52950.0% |
| Financial charges | 65/66B | €28,046 | €28,765 | +€719 | +2.6% |
| Recurring financial charges | 65 | €28,046 | €28,559 | +€513 | +1.8% |
| Non-recurring financial charges | 66B | - | €206 | +€206 | |
| Profit (loss) for the period before taxes | 9903 | €24,015 | -€9,076 | -€33,091 | |
| Income taxes | 67/77 | €8,378 | €9,167 | +€788 | +9.4% |
| Profit (loss) for the period | 9904 | €15,637 | -€18,242 | -€33,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,637 | -€18,242 | -€33,879 |
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 2 October 2026 via checked.be.