VaLanCo: 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.
VaLanCo
Largest movements
- Receivables within one year -€35,752
down €35,752 (-33.4%), from €107,032 to €71,280
of which Trade receivables: -€37,099
- Tangible fixed assets -€27,213
down €27,213 (-11.4%), from €239,653 to €212,440
of which Land and buildings: -€13,640
- Other debts -€45,000
down €45,000 (-100.0%), from €45,000 to €0
- Reserves +€26,000
up €26,000 (+51.0%), from €51,000 to €77,000
- Debts after one year -€24,383
down €24,383 (-14.6%), from €167,415 to €143,032
- Tax, wage and social debts -€22,793
down €22,793 (-77.8%), from €29,315 to €6,522
- Short-term financial debts +€4,077
up €4,077 (+39.9%), from €10,220 to €14,297
- Gross operating margin -€72,813
down €72,813 (-50.1%), from €145,274 to €72,460
- Taxes -€6,755
down €6,755 (-37.3%), from €18,100 to €11,345
- Depreciation -€1,898
down €1,898 (-5.6%), from €33,894 to €31,997
- Financial charges -€1,497
down €1,497 (-19.8%), from €7,563 to €6,065
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 | €350,333 | €288,687 | -€61,646 | -17.6% |
| Fixed assets | 21/28 | €239,653 | €212,440 | -€27,213 | -11.4% |
| Tangible fixed assets | 22/27 | €239,653 | €212,440 | -€27,213 | -11.4% |
| Land and buildings | 22 | €177,320 | €163,680 | -€13,640 | -7.7% |
| Plant, machinery and equipment | 23 | €12,380 | €11,153 | -€1,227 | -9.9% |
| Furniture and vehicles | 24 | €10,213 | €9,237 | -€976 | -9.6% |
| Other tangible fixed assets | 26 | €39,740 | €28,370 | -€11,370 | -28.6% |
| Current assets | 29/58 | €110,681 | €76,247 | -€34,434 | -31.1% |
| Amounts receivable within one year | 40/41 | €107,032 | €71,280 | -€35,752 | -33.4% |
| Trade receivables | 40 | €37,099 | €0 | -€37,099 | -100.0% |
| Other amounts receivable | 41 | €69,933 | €71,280 | +€1,346 | +1.9% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €3,649 | €4,967 | +€1,319 | +36.1% |
| Total equity and liabilities | 10/49 | €350,333 | €288,687 | -€61,646 | -17.6% |
| Equity | 10/15 | €70,005 | €96,205 | +€26,201 | +37.4% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €51,000 | €77,000 | +€26,000 | +51.0% |
| Distributable reserves | 133 | €51,000 | €77,000 | +€26,000 | +51.0% |
| Profit (loss) carried forward | 14 | €10,805 | €11,005 | +€201 | +1.9% |
| Amounts payable | 17/49 | €280,329 | €192,482 | -€87,847 | -31.3% |
| Amounts payable after more than one year | 17 | €167,415 | €143,032 | -€24,383 | -14.6% |
| Financial debts | 170/4 | €167,415 | €143,032 | -€24,383 | -14.6% |
| Amounts payable within one year | 42/48 | €112,913 | €49,449 | -€63,464 | -56.2% |
| Current portion of amounts payable after more than one year | 42 | €23,622 | €24,383 | +€762 | +3.2% |
| Financial debts | 43 | €10,220 | €14,297 | +€4,077 | +39.9% |
| Credit institutions | 430/8 | €10,220 | €14,297 | +€4,077 | +39.9% |
| Trade debts | 44 | €4,756 | €4,247 | -€510 | -10.7% |
| Suppliers | 440/4 | €4,756 | €4,247 | -€510 | -10.7% |
| Taxes, remuneration and social security | 45 | €29,315 | €6,522 | -€22,793 | -77.8% |
| Taxes | 450/3 | €29,315 | €6,522 | -€22,793 | -77.8% |
| Other amounts payable | 47/48 | €45,000 | €0 | -€45,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,894 | €31,997 | -€1,898 | -5.6% |
| Other operating charges | 640/8 | €1,062 | €1,152 | +€90 | +8.5% |
| Gross operating margin | 9900 | €145,274 | €72,460 | -€72,813 | -50.1% |
| Operating profit (loss) | 9901 | €110,318 | €39,312 | -€71,006 | -64.4% |
| Financial income | 75/76B | €3,538 | €4,299 | +€761 | +21.5% |
| Recurring financial income | 75 | €3,538 | €4,299 | +€761 | +21.5% |
| Financial charges | 65/66B | €7,563 | €6,065 | -€1,497 | -19.8% |
| Recurring financial charges | 65 | €7,563 | €6,065 | -€1,497 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €106,293 | €37,545 | -€68,748 | -64.7% |
| Income taxes | 67/77 | €18,100 | €11,345 | -€6,755 | -37.3% |
| Profit (loss) for the period | 9904 | €88,193 | €26,201 | -€61,992 | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €88,193 | €26,201 | -€61,992 | -70.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.