VALCKE: 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.
VALCKE
Largest movements
- Tangible fixed assets -€39,922
down €39,922 (-6.4%), from €628,378 to €588,457
of which Furniture and vehicles: -€21,676
- Receivables within one year -€12,197
down €12,197 (-17.5%), from €69,720 to €57,523
of which Other amounts receivable: -€14,598
- Debts after one year -€22,002
down €22,002 (-4.4%), from €502,362 to €480,360
of which Financial debts: -€22,002
- Other debts -€16,607
down €16,607 (-26.5%), from €62,616 to €46,008
- Reserves -€12,350
down €12,350 (-10.6%), from €116,411 to €104,062
- Gross operating margin -€17,738
down €17,738 (-15.8%), from €112,023 to €94,285
- Taxes -€4,938
down €4,938 (-39.9%), from €12,390 to €7,452
- Financial charges -€3,738
down €3,738 (-13.1%), from €28,598 to €24,860
- Other operating charges +€2,527
up €2,527 (+40.0%), from €6,313 to €8,840
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 | €764,864 | €718,039 | -€46,825 | -6.1% |
| Fixed assets | 21/28 | €628,378 | €588,457 | -€39,922 | -6.4% |
| Tangible fixed assets | 22/27 | €628,378 | €588,457 | -€39,922 | -6.4% |
| Land and buildings | 22 | €572,959 | €555,538 | -€17,421 | -3.0% |
| Plant, machinery and equipment | 23 | €104 | €16 | -€87 | -84.3% |
| Furniture and vehicles | 24 | €48,655 | €26,978 | -€21,676 | -44.6% |
| Leasing and similar rights | 25 | €6,661 | €5,924 | -€736 | -11.1% |
| Current assets | 29/58 | €136,485 | €129,582 | -€6,903 | -5.1% |
| Amounts receivable within one year | 40/41 | €69,720 | €57,523 | -€12,197 | -17.5% |
| Trade receivables | 40 | €31,032 | €33,433 | +€2,401 | +7.7% |
| Other amounts receivable | 41 | €38,688 | €24,090 | -€14,598 | -37.7% |
| Cash at bank and in hand | 54/58 | €66,663 | €68,948 | +€2,285 | +3.4% |
| Deferred charges and accrued income | 490/1 | €102 | €3,111 | +€3,009 | +2948.9% |
| Total equity and liabilities | 10/49 | €764,864 | €718,039 | -€46,825 | -6.1% |
| Equity | 10/15 | €165,990 | €153,640 | -€12,350 | -7.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €116,411 | €104,062 | -€12,350 | -10.6% |
| Distributable reserves | 133 | €116,411 | €104,062 | -€12,350 | -10.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €598,874 | €564,399 | -€34,475 | -5.8% |
| Amounts payable after more than one year | 17 | €502,362 | €480,360 | -€22,002 | -4.4% |
| Financial debts | 170/4 | €202,362 | €180,360 | -€22,002 | -10.9% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €96,512 | €84,039 | -€12,473 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €21,752 | €22,002 | +€250 | +1.1% |
| Trade debts | 44 | €794 | €1,997 | +€1,203 | +151.5% |
| Suppliers | 440/4 | €794 | €1,997 | +€1,203 | +151.5% |
| Taxes, remuneration and social security | 45 | €11,351 | €14,032 | +€2,681 | +23.6% |
| Taxes | 450/3 | €11,351 | €14,032 | +€2,681 | +23.6% |
| Other amounts payable | 47/48 | €62,616 | €46,008 | -€16,607 | -26.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,605 | €41,139 | +€533 | +1.3% |
| Other operating charges | 640/8 | €6,313 | €8,840 | +€2,527 | +40.0% |
| Gross operating margin | 9900 | €112,023 | €94,285 | -€17,738 | -15.8% |
| Operating profit (loss) | 9901 | €65,105 | €44,307 | -€20,798 | -31.9% |
| Financial income | 75/76B | €227 | €994 | +€767 | +337.5% |
| Recurring financial income | 75 | €227 | €994 | +€767 | +337.5% |
| Financial charges | 65/66B | €28,598 | €24,860 | -€3,738 | -13.1% |
| Recurring financial charges | 65 | €28,598 | €24,860 | -€3,738 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €36,735 | €20,441 | -€16,293 | -44.4% |
| Income taxes | 67/77 | €12,390 | €7,452 | -€4,938 | -39.9% |
| Profit (loss) for the period | 9904 | €24,344 | €12,989 | -€11,355 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,344 | €12,989 | -€11,355 | -46.6% |
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.