Valcke Beheer: 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.
Valcke Beheer
Largest movements
- Current investments +€76,577
up €76,577 (+8.4%), from €909,617 to €986,194
- Reserves +€67,905
up €67,905 (+6.6%), from €1.0m to €1.1m
of which Distributable reserves: +€67,905
- Financial income -€226,302
down €226,302 (-95.1%), from €237,932 to €11,629
of which Financial income: -€226,302
- Taxes -€17,838
down €17,838 (-35.0%), from €50,907 to €33,068
- Gross operating margin +€4,618
up €4,618 (+4.6%), from €101,395 to €106,013
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 | €1,196,295 | €1,262,519 | +€66,224 | +5.5% |
| Fixed assets | 21/28 | €248,984 | €248,609 | -€374 | -0.2% |
| Tangible fixed assets | 22/27 | €248,984 | €248,609 | -€374 | -0.2% |
| Land and buildings | 22 | €248,984 | €248,609 | -€374 | -0.2% |
| Current assets | 29/58 | €947,312 | €1,013,910 | +€66,598 | +7.0% |
| Amounts receivable within one year | 40/41 | €5,995 | €4,041 | -€1,954 | -32.6% |
| Trade receivables | 40 | €195 | €0 | -€195 | -100% |
| Other amounts receivable | 41 | €5,800 | €4,041 | -€1,759 | -30.3% |
| Current investments | 50/53 | €909,617 | €986,194 | +€76,577 | +8.4% |
| Cash at bank and in hand | 54/58 | €22,757 | €23,675 | +€918 | +4.0% |
| Deferred charges and accrued income | 490/1 | €8,943 | €0 | -€8,943 | -100% |
| Total equity and liabilities | 10/49 | €1,196,295 | €1,262,519 | +€66,224 | +5.5% |
| Equity | 10/15 | €1,142,949 | €1,210,854 | +€67,905 | +5.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,027,755 | €1,095,660 | +€67,905 | +6.6% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,021,605 | €1,089,510 | +€67,905 | +6.6% |
| Profit (loss) carried forward | 14 | €53,694 | €53,694 | = | 0.0% |
| Amounts payable | 17/49 | €53,347 | €51,665 | -€1,681 | -3.2% |
| Amounts payable within one year | 42/48 | €43,992 | €42,311 | -€1,681 | -3.8% |
| Trade debts | 44 | €2,060 | €2,117 | +€57 | +2.8% |
| Suppliers | 440/4 | €2,060 | €2,117 | +€57 | +2.8% |
| Taxes, remuneration and social security | 45 | €36,619 | €34,880 | -€1,739 | -4.7% |
| Taxes | 450/3 | €36,619 | €34,880 | -€1,739 | -4.7% |
| Other amounts payable | 47/48 | €5,314 | €5,314 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9,355 | €9,355 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | €374 | = | 0.0% |
| Other operating charges | 640/8 | €15,780 | €16,020 | +€240 | +1.5% |
| Gross operating margin | 9900 | €101,395 | €106,013 | +€4,618 | +4.6% |
| Operating profit (loss) | 9901 | €85,240 | €89,618 | +€4,378 | +5.1% |
| Financial income | 75/76B | €237,932 | €11,629 | -€226,302 | -95.1% |
| Recurring financial income | 75 | €237,932 | €11,629 | -€226,302 | -95.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €173 | €274 | +€102 | +58.8% |
| Recurring financial charges | 65 | €173 | €274 | +€102 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €322,999 | €100,974 | -€222,026 | -68.7% |
| Income taxes | 67/77 | €50,907 | €33,068 | -€17,838 | -35.0% |
| Profit (loss) for the period | 9904 | €272,092 | €67,905 | -€204,187 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €272,092 | €67,905 | -€204,187 | -75.0% |
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 17 October 2026 via checked.be.