VALUCA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 26 filings
Turnover
€0
2021 · €0
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€53,344▲ 86×
2024 · €620
Working capital
€71,679
2024 · -€130,572
In the rankings
#9 company by equity in Houthalen-Helchteren, Administrative and support services sector#9 oldest company in Houthalen-Helchteren, Administrative and support services sector#10 company by total assets in Houthalen-Helchteren, Administrative and support services sector
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
-€33,876
2025
20192025
Net result
€53,344
▲ 86×
2025
highest quarter of the sector
20192025
Equity
€537,301
▲ 11.0%
2025
highest quarter of the sector
20192025
Total assets
€1.2m
▲ 6.3%
2025
highest quarter of the sector
20192025
Debt
€650,714
▲ 2.7%
2025
20192025
Working capital
€71,679
2025
highest quarter of the sector
20192025
Solvency
45.2%
▲ 1.9pp
2025
middle half of the sector
20192025
Current ratio
1.11
▲ 0.32
2025
middle half of the sector
20192025
Return on assets (ROA)
4.5%
▲ 4.4pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€0.02m-€0▼ 100%€0€0
Operating result€0.8m--€0.003m-€0.002m▲ 46.4%-€0.006m▼ 251%-€0.007m▼ 7.7%€0.001m-€0.03m
Net result-€0.04mbelow the sector's middle half-€0.002mwithin the sector's middle half▲ 95.9%-€0.08mbelow the sector's middle half▼ 4,496%-€0.007mbelow the sector's middle half▲ 91.9%€0.001mwithin the sector's middle half€0.05mabove the sector's middle half▲ 86×
Equity€0.4m-€0.4mabove the sector's middle half▼ 10.3%€0.4mabove the sector's middle half▼ 0.5%€0.5mabove the sector's middle half▲ 31.8%€0.5mabove the sector's middle half▼ 1.3%€0.5mabove the sector's middle half▲ 0.1%€0.5mabove the sector's middle half▲ 11.0%
Total assets€1.0m-€0.9mabove the sector's middle half▼ 4.4%€1.3mabove the sector's middle half▲ 37.6%€0.9mabove the sector's middle half▼ 33.4%€1.0mabove the sector's middle half▲ 20.9%€1.1mabove the sector's middle half▲ 8.3%€1.2mabove the sector's middle half▲ 6.3%
Debt€0.6m-€0.6m=€0.9m▲ 63.2%€0.4m▼ 60.0%€0.5m▲ 50.9%€0.6m▲ 15.6%€0.7m▲ 2.7%
Working capital€0.4m-€0.4mabove the sector's middle half▼ 10.3%€0.4mabove the sector's middle half▼ 0.5%€0.5mabove the sector's middle half▲ 31.8%€0.1mabove the sector's middle half▼ 76.7%-€0.1mbelow the sector's middle half€0.07mabove the sector's middle half
Solvency42.8%-40.2%within the sector's middle half▼ 2.6pp29.0%within the sector's middle half▼ 11.1pp57.4%within the sector's middle half▲ 28.4pp46.9%within the sector's middle half▼ 10.6pp43.3%within the sector's middle half▼ 3.6pp45.2%within the sector's middle half▲ 1.9pp
Current ratio1.75-1.67within the sector's middle half▼ 0.081.41within the sector's middle half▼ 0.262.35above the sector's middle half▲ 0.941.21within the sector's middle half▼ 1.140.79within the sector's middle half▼ 0.411.11within the sector's middle half▲ 0.32
Return on assets (ROA)-4.6%within the sector's middle half-0.1%within the sector's middle half▲ 4.5pp-9.6%below the sector's middle half▼ 9.5pp-0.6%within the sector's middle half▲ 9.0pp0.1%within the sector's middle half▲ 0.7pp4.5%within the sector's middle half▲ 4.4pp
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €33,876, after a profit of €663 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€466,180 ▼ 24.1%
Current assets
€721,835 ▲ 43.5%
Equity and liabilities €1.2m
Equity
€537,301 ▲ 11.0%
Debt
€650,714 ▲ 2.7%
Debt's share of the balance-sheet total falls from 56.7% to 54.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€24,710▼
2024 · €15,537
Cash flow
€62,510▲
2024 · €15,494
Debt to equity
1.21▼
2024 · 1.31
ROE
9.9%▲
2024 · 0.1%
Interest coverage
-537.64▼
2024 · over 100
Debt ≤ 1 year
€650,156▲
2024 · €633,606
Income taxes
€13,551▲
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €199,972 | €92,106 | - |
| Financial fixed assets | - | €174,687 | €168,300 | - |
| Depreciation and write-downs of the year | - | €5,662 | €14,874 | €9,166 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €16,418 | €0 | €0 | €0 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €5,056 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €5,662 | €14,874 | €9,166 | ▼ 38.4% |
| Other operating charges640/8 | - | - | - | €1,030 | €1,030 | €3,164 | €3,969 | ▲ 25.4% |
| Gross operating margin9900 | €778,247 | -€2,182 | -€705 | -€5,056 | €136 | €18,702 | -€20,741 | - |
| Operating profit (loss)9901 | €763,529 | -€3,236 | -€1,735 | -€6,086 | -€6,555 | €663 | -€33,876 | - |
| Financial income75/76B | - | - | - | - | - | - | €100,817 | - |
| Recurring financial income75 | - | - | - | - | - | - | €100,817 | - |
| Non-recurring financial income76B | - | - | - | - | - | - | €100,817 | - |
| Financial charges65/66B | - | - | - | €48 | €48 | €44 | €46 | ▲ 5.7% |
| Recurring financial charges65 | €8,502 | €32 | €48 | €48 | €48 | €44 | €46 | ▲ 5.7% |
| Profit (loss) for the period before taxes9903 | €0 | -€3,268 | -€1,783 | -€6,134 | -€6,603 | €620 | €66,895 | ▲ 108× |
| Income taxes67/77 | - | €39,700 | - | €75,784 | €0 | €0 | €13,551 | - |
| Profit (loss) for the period9904 | - | -€42,968 | -€1,783 | -€81,918 | -€6,603 | €620 | €53,344 | ▲ 86× |
| Profit (loss) for the period to be appropriated9905 | - | -€42,968 | -€1,783 | -€81,918 | -€6,603 | €620 | €53,344 | ▲ 86× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €0.9m | €1.3m | €0.9m | €1.0m | €1.1m | €1.2m | ▲ 6.3% |
| Fixed assets21/28 | - | - | - | - | €0.4m | €0.6m | €0.5m | ▼ 24.1% |
| Tangible fixed assets22/27 | - | - | - | - | €0.2m | €0.3m | €0.1m | ▼ 54.6% |
| Land and buildings22 | - | - | - | - | €0.2m | €0.3m | €0.1m | ▼ 54.6% |
| Financial fixed assets28 | - | - | - | - | €0.2m | €0.3m | €0.3m | = |
| Current assets29/58 | €1.0m | €0.9m | €1.3m | €0.9m | €0.7m | €0.5m | €0.7m | ▲ 43.5% |
| Amounts receivable within one year40/41 | €1.0m | €0.9m | €1.3m | €0.8m | €0.7m | €0.5m | €0.5m | ▲ 0.9% |
| Other amounts receivable41 | - | - | - | €0.8m | €0.7m | €0.5m | €0.5m | ▲ 0.9% |
| Current investments50/53 | €0.003m | €286 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | - | €305 | €0.01m | €0.005m | €0.001m | €0.2m | ▲ 150× |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.01m | €0.01m | ▲ 1.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €1.3m | €0.9m | €1.0m | €1.1m | €1.2m | ▲ 6.3% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 11.0% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | - | -€0.04m | -€0.04m | -€0.1m | -€0.1m | -€0.1m | -€0.08m | ▲ 40.2% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.9m | €0.4m | €0.5m | €0.6m | €0.7m | ▲ 2.7% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.9m | €0.4m | €0.5m | €0.6m | €0.7m | ▲ 2.6% |
| Trade debts44 | €0.6m | €0.6m | €0.6m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Suppliers440/4 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €0.01m | - |
| Taxes450/3 | - | - | - | - | - | - | €0.01m | - |
| Other amounts payable47/48 | - | - | - | €0.007m | €0.2m | €0.3m | €0.3m | ▲ 1.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.001m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | - | -€42,968 | -€1,783 | -€81,918 | -€6,603 | €620 | €53,344 | ▲ 86× |
| + Depreciation and write-downs630 | - | - | - | - | €5,662 | €14,874 | €9,166 | ▼ 38.4% |
| Operating cash flow (approximation) | - | -€42,968 | -€1,783 | -€81,918 | -€942 | €15,494 | €62,510 | ▲ 303% |
| Investment in fixed assets (approximation) | - | - | - | - | - | -€260,406 | €139,183 | - |
| Change in cash | - | - | - | €12,649 | -€7,837 | -€3,681 | €214,287 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as VALUCA has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VALUCA itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for VALUCA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00027981 | |
| 30-06-2024 | micro format | 04-02-2025 | 2025-00029038 | |
| 30-06-2023 | micro format | 24-01-2024 | 2024-00006880 | |
| 30-06-2022 | micro format | 23-01-2023 | 2023-00001827 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03900070 | |
| 30-06-2020 | micro format | 21-12-2020 | 2020-76500373 | |
| 31-03-2019 | micro format | 31-10-2019 | 2019-72600340 | |
| 31-03-2018 | abbreviated format | 29-10-2018 | 2018-70600436 | |
| 31-03-2017 | abbreviated format | 31-08-2017 | 2017-59200531 | |
| 31-03-2016 | abbreviated format | 28-10-2016 | 2016-66700497 |