VALCO: 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.
VALCO
Largest movements
- Receivables within one year -€19,893
down €19,893 (-73.3%), from €27,140 to €7,247
of which Trade receivables: -€15,667
- Tangible fixed assets -€3,250
down €3,250 (-61.7%), from €5,269 to €2,019
of which Furniture and vehicles: -€2,005
- Deferred charges and accrued income -€1,052
no longer reported in 2024 (was €1,052)
- Cash -€360
down €360 (-94.2%), from €382 to €22
mainly Net result for the year (-€23,128) and Trade debts (-€4,628)
- Profit (loss) carried forward -€23,128
down €23,128 (-381.5%), from -€6,062 to -€29,190
- Trade debts -€4,628
down €4,628 (-84.9%), from €5,452 to €823
- Short-term financial debts +€3,643
new in 2024: €3,643
- Tax, wage and social debts -€436
no longer reported in 2024 (was €436)
- Accrued charges and deferred income -€394
no longer reported in 2024 (was €394)
- Gross operating margin -€18,973
down €18,973 (-8231.1%), from -€231 to -€19,203
- Depreciation -€1,506
down €1,506 (-31.7%), from €4,756 to €3,250
- Other operating charges -€371
down €371 (-37.1%), from €1,003 to €631
- Staff costs -€347
no longer reported in 2024 (was €347)
- Financial charges -€309
down €309 (-87.6%), from €353 to €44
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,842 | €9,288 | -€24,554 | -72.6% |
| Fixed assets | 21/28 | €5,269 | €2,019 | -€3,250 | -61.7% |
| Tangible fixed assets | 22/27 | €5,269 | €2,019 | -€3,250 | -61.7% |
| Plant, machinery and equipment | 23 | €1,269 | €23 | -€1,245 | -98.2% |
| Furniture and vehicles | 24 | €4,000 | €1,996 | -€2,005 | -50.1% |
| Current assets | 29/58 | €28,573 | €7,269 | -€21,304 | -74.6% |
| Amounts receivable within one year | 40/41 | €27,140 | €7,247 | -€19,893 | -73.3% |
| Trade receivables | 40 | €22,277 | €6,609 | -€15,667 | -70.3% |
| Other amounts receivable | 41 | €4,863 | €638 | -€4,225 | -86.9% |
| Cash at bank and in hand | 54/58 | €382 | €22 | -€360 | -94.2% |
| Deferred charges and accrued income | 490/1 | €1,052 | - | -€1,052 | |
| Total equity and liabilities | 10/49 | €33,842 | €9,288 | -€24,554 | -72.6% |
| Equity | 10/15 | €27,560 | €4,432 | -€23,128 | -83.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €15,030 | €15,030 | = | 0.0% |
| Distributable reserves | 133 | €15,030 | €15,030 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,062 | -€29,190 | -€23,128 | -381.5% |
| Amounts payable | 17/49 | €6,282 | €4,856 | -€1,427 | -22.7% |
| Amounts payable within one year | 42/48 | €5,888 | €4,856 | -€1,032 | -17.5% |
| Financial debts | 43 | - | €3,643 | +€3,643 | |
| Credit institutions | 430/8 | - | €3,643 | +€3,643 | |
| Trade debts | 44 | €5,452 | €823 | -€4,628 | -84.9% |
| Suppliers | 440/4 | €5,452 | €823 | -€4,628 | -84.9% |
| Taxes, remuneration and social security | 45 | €436 | - | -€436 | |
| Taxes | 450/3 | €436 | - | -€436 | |
| Other amounts payable | 47/48 | - | €389 | +€389 | |
| Accrued charges and deferred income | 492/3 | €394 | - | -€394 | |
| Remuneration, social security and pensions | 62 | €347 | - | -€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,756 | €3,250 | -€1,506 | -31.7% |
| Other operating charges | 640/8 | €1,003 | €631 | -€371 | -37.1% |
| Gross operating margin | 9900 | -€231 | -€19,203 | -€18,973 | -8231.1% |
| Operating profit (loss) | 9901 | -€6,336 | -€23,084 | -€16,748 | -264.3% |
| Financial charges | 65/66B | €353 | €44 | -€309 | -87.6% |
| Recurring financial charges | 65 | €353 | €44 | -€309 | -87.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,689 | -€23,128 | -€16,439 | -245.7% |
| Profit (loss) for the period | 9904 | -€6,689 | -€23,128 | -€16,439 | -245.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,689 | -€23,128 | -€16,439 | -245.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.