G.C. VALECO: 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.
G.C. VALECO
Largest movements
- Current investments +€72,530
up €72,530 (+12.8%), from €567,381 to €639,911
- Tangible fixed assets -€55,423
down €55,423 (-3.8%), from €1.4m to €1.4m
of which Land and buildings: -€55,329
- Profit (loss) carried forward +€93,624
up €93,624 (+59.3%), from -€157,944 to -€64,320
- Debts after one year -€28,944
down €28,944 (-9.0%), from €322,427 to €293,483
- Financial income +€131,907
new in 2025: €131,907
of which Financial income: +€131,907
- Financial charges +€2,055
up €2,055 (+25.5%), from €8,066 to €10,121
of which Financial charges: +€3,671
- Depreciation -€1,298
down €1,298 (-2.3%), from €56,969 to €55,671
- Gross operating margin -€1,208
down €1,208 (-2.9%), from €41,173 to €39,965
- Other operating charges -€542
down €542 (-4.4%), from €12,182 to €11,640
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 | €2,266,314 | €2,281,185 | +€14,871 | +0.7% |
| Fixed assets | 21/28 | €1,442,440 | €1,387,017 | -€55,423 | -3.8% |
| Tangible fixed assets | 22/27 | €1,442,440 | €1,387,017 | -€55,423 | -3.8% |
| Land and buildings | 22 | €1,442,346 | €1,387,017 | -€55,329 | -3.8% |
| Furniture and vehicles | 24 | €94 | - | -€94 | |
| Current assets | 29/58 | €823,874 | €894,168 | +€70,294 | +8.5% |
| Stocks and contracts in progress | 3 | €215,160 | €215,160 | = | 0.0% |
| Stocks | 30/36 | €215,160 | €215,160 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,125 | €22,534 | -€4,591 | -16.9% |
| Trade receivables | 40 | €27,087 | - | -€27,087 | |
| Other amounts receivable | 41 | €38 | €22,534 | +€22,496 | +59,200% |
| Current investments | 50/53 | €567,381 | €639,911 | +€72,530 | +12.8% |
| Cash at bank and in hand | 54/58 | €10,840 | €12,866 | +€2,026 | +18.7% |
| Deferred charges and accrued income | 490/1 | €3,368 | €3,697 | +€329 | +9.8% |
| Total equity and liabilities | 10/49 | €2,266,314 | €2,281,185 | +€14,871 | +0.7% |
| Equity | 10/15 | €1,814,431 | €1,908,055 | +€93,624 | +5.2% |
| Contributions | 10/11 | €1,910,000 | €1,910,000 | = | 0.0% |
| Reserves | 13 | €62,375 | €62,375 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62,375 | €62,375 | = | 0.0% |
| Reserves not available under the articles | 1311 | €62,375 | €62,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,944 | -€64,320 | +€93,624 | +59.3% |
| Amounts payable | 17/49 | €451,883 | €373,130 | -€78,753 | -17.4% |
| Amounts payable after more than one year | 17 | €322,427 | €293,483 | -€28,944 | -9.0% |
| Financial debts | 170/4 | €322,427 | €293,483 | -€28,944 | -9.0% |
| Amounts payable within one year | 42/48 | €128,425 | €79,647 | -€48,778 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €29,769 | €30,173 | +€404 | +1.4% |
| Financial debts | 43 | €20,006 | - | -€20,006 | |
| Credit institutions | 430/8 | €4,000 | - | -€4,000 | |
| Other loans | 439 | €16,006 | - | -€16,006 | |
| Trade debts | 44 | €8,696 | €424 | -€8,272 | -95.1% |
| Suppliers | 440/4 | €8,696 | €424 | -€8,272 | -95.1% |
| Taxes, remuneration and social security | 45 | - | €696 | +€696 | |
| Taxes | 450/3 | - | €696 | +€696 | |
| Other amounts payable | 47/48 | €69,954 | €48,354 | -€21,600 | -30.9% |
| Accrued charges and deferred income | 492/3 | €1,031 | - | -€1,031 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,969 | €55,671 | -€1,298 | -2.3% |
| Other operating charges | 640/8 | €12,182 | €11,640 | -€542 | -4.4% |
| Gross operating margin | 9900 | €41,173 | €39,965 | -€1,208 | -2.9% |
| Operating profit (loss) | 9901 | -€27,978 | -€27,346 | +€632 | +2.3% |
| Financial income | 75/76B | - | €131,907 | +€131,907 | |
| Recurring financial income | 75 | - | €131,907 | +€131,907 | |
| Non-recurring financial income | 76B | - | €131,907 | +€131,907 | |
| Financial charges | 65/66B | €8,066 | €10,121 | +€2,055 | +25.5% |
| Recurring financial charges | 65 | €6,450 | €10,121 | +€3,671 | +56.9% |
| Non-recurring financial charges | 66B | €1,616 | - | -€1,616 | |
| Profit (loss) for the period before taxes | 9903 | -€36,044 | €94,440 | +€130,484 | |
| Income taxes | 67/77 | €409 | €816 | +€407 | +99.5% |
| Profit (loss) for the period | 9904 | -€36,453 | €93,624 | +€130,077 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,453 | €93,624 | +€130,077 |
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 24 October 2026 via checked.be.