VALUMA: 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.
VALUMA
Largest movements
- Tangible fixed assets -€29,677
down €29,677 (-5.3%), from €563,072 to €533,395
of which Land and buildings: -€16,065
- Receivables within one year -€9,075
down €9,075 (-100.0%), from €9,075 to €0
- Debts after one year -€56,863
down €56,863 (-24.3%), from €233,727 to €176,865
- Profit (loss) carried forward +€10,555
up €10,555 (+20.2%), from €52,296 to €62,850
- Other debts +€8,038
up €8,038 (+6.3%), from €128,138 to €136,176
- Tax, wage and social debts -€6,708
down €6,708 (-68.7%), from €9,758 to €3,050
- Gross operating margin -€8,656
down €8,656 (-13.0%), from €66,375 to €57,719
- Depreciation +€6,047
up €6,047 (+19.6%), from €30,915 to €36,961
- Taxes -€3,089
down €3,089 (-48.1%), from €6,415 to €3,326
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 | €580,073 | €539,327 | -€40,746 | -7.0% |
| Fixed assets | 21/28 | €563,072 | €533,395 | -€29,677 | -5.3% |
| Tangible fixed assets | 22/27 | €563,072 | €533,395 | -€29,677 | -5.3% |
| Land and buildings | 22 | €501,805 | €485,740 | -€16,065 | -3.2% |
| Plant, machinery and equipment | 23 | €1,379 | €802 | -€577 | -41.8% |
| Furniture and vehicles | 24 | €59,889 | €46,853 | -€13,035 | -21.8% |
| Current assets | 29/58 | €17,001 | €5,932 | -€11,069 | -65.1% |
| Amounts receivable within one year | 40/41 | €9,075 | €0 | -€9,075 | -100.0% |
| Trade receivables | 40 | €9,075 | €0 | -€9,075 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,147 | €4,049 | -€2,098 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,779 | €1,883 | +€104 | +5.8% |
| Total equity and liabilities | 10/49 | €580,073 | €539,327 | -€40,746 | -7.0% |
| Equity | 10/15 | €134,296 | €144,850 | +€10,555 | +7.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €62,000 | €62,000 | = | 0.0% |
| Distributable reserves | 133 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,296 | €62,850 | +€10,555 | +20.2% |
| Amounts payable | 17/49 | €445,778 | €394,477 | -€51,301 | -11.5% |
| Amounts payable after more than one year | 17 | €233,727 | €176,865 | -€56,863 | -24.3% |
| Financial debts | 170/4 | €233,727 | €176,865 | -€56,863 | -24.3% |
| Amounts payable within one year | 42/48 | €210,712 | €214,703 | +€3,991 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €58,651 | €56,863 | -€1,789 | -3.0% |
| Trade debts | 44 | €14,165 | €18,615 | +€4,450 | +31.4% |
| Suppliers | 440/4 | €14,165 | €18,615 | +€4,450 | +31.4% |
| Taxes, remuneration and social security | 45 | €9,758 | €3,050 | -€6,708 | -68.7% |
| Taxes | 450/3 | €9,758 | €3,050 | -€6,708 | -68.7% |
| Other amounts payable | 47/48 | €128,138 | €136,176 | +€8,038 | +6.3% |
| Accrued charges and deferred income | 492/3 | €1,339 | €2,909 | +€1,570 | +117.3% |
| Non-recurring operating income | 76A | €19,910 | €0 | -€19,910 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,915 | €36,961 | +€6,047 | +19.6% |
| Other operating charges | 640/8 | €3,869 | €3,750 | -€119 | -3.1% |
| Gross operating margin | 9900 | €66,375 | €57,719 | -€8,656 | -13.0% |
| Operating profit (loss) | 9901 | €31,591 | €17,008 | -€14,583 | -46.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €3,304 | €3,127 | -€177 | -5.4% |
| Recurring financial charges | 65 | €3,304 | €3,127 | -€177 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €28,287 | €13,881 | -€14,407 | -50.9% |
| Income taxes | 67/77 | €6,415 | €3,326 | -€3,089 | -48.1% |
| Profit (loss) for the period | 9904 | €21,873 | €10,555 | -€11,318 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,873 | €10,555 | -€11,318 | -51.7% |
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 3 October 2026 via checked.be.