VALCONS: 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.
VALCONS
Largest movements
- Cash -€34,347
down €34,347 (-74.4%), from €46,195 to €11,848
mainly Contributions, distributions and other (-€42,546) and Receivables within one year (-€13,417)
- Receivables within one year +€13,417
up €13,417 (+632.9%), from €2,120 to €15,537
of which Trade receivables: +€14,738
- Deferred charges and accrued income +€7,634
up €7,634 (+84.8%), from €9,000 to €16,634
- Tangible fixed assets +€1,287
up €1,287 (+18.6%), from €6,914 to €8,201
- Profit (loss) carried forward -€8,936
down €8,936 (-21.0%), from €42,546 to €33,611
- Other debts -€2,085
down €2,085 (-34.3%), from €6,072 to €3,987
- Trade debts -€1,111
down €1,111 (-83.0%), from €1,339 to €228
- Gross operating margin +€26,876
up €26,876 (+128.5%), from €20,923 to €47,800
- Taxes +€5,407
up €5,407 (+142.5%), from €3,794 to €9,201
- Depreciation +€1,328
up €1,328 (+42.0%), from €3,164 to €4,492
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 | €64,228 | €52,220 | -€12,009 | -18.7% |
| Fixed assets | 21/28 | €6,914 | €8,201 | +€1,287 | +18.6% |
| Tangible fixed assets | 22/27 | €6,914 | €8,201 | +€1,287 | +18.6% |
| Furniture and vehicles | 24 | €6,914 | €8,201 | +€1,287 | +18.6% |
| Current assets | 29/58 | €57,315 | €44,019 | -€13,296 | -23.2% |
| Amounts receivable within one year | 40/41 | €2,120 | €15,537 | +€13,417 | +632.9% |
| Trade receivables | 40 | - | €14,738 | +€14,738 | |
| Other amounts receivable | 41 | €2,120 | €799 | -€1,321 | -62.3% |
| Cash at bank and in hand | 54/58 | €46,195 | €11,848 | -€34,347 | -74.4% |
| Deferred charges and accrued income | 490/1 | €9,000 | €16,634 | +€7,634 | +84.8% |
| Total equity and liabilities | 10/49 | €64,228 | €52,220 | -€12,009 | -18.7% |
| Equity | 10/15 | €48,546 | €39,611 | -€8,936 | -18.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Outside capital | 11 | €6,000 | €6,000 | = | 0.0% |
| Share premium | 1100/10 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,546 | €33,611 | -€8,936 | -21.0% |
| Amounts payable | 17/49 | €15,682 | €12,609 | -€3,073 | -19.6% |
| Amounts payable within one year | 42/48 | €15,682 | €12,609 | -€3,073 | -19.6% |
| Trade debts | 44 | €1,339 | €228 | -€1,111 | -83.0% |
| Suppliers | 440/4 | €1,339 | €228 | -€1,111 | -83.0% |
| Taxes, remuneration and social security | 45 | €8,271 | €8,394 | +€123 | +1.5% |
| Taxes | 450/3 | €8,271 | €8,394 | +€123 | +1.5% |
| Other amounts payable | 47/48 | €6,072 | €3,987 | -€2,085 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,164 | €4,492 | +€1,328 | +42.0% |
| Other operating charges | 640/8 | €251 | €265 | +€14 | +5.5% |
| Gross operating margin | 9900 | €20,923 | €47,800 | +€26,876 | +128.5% |
| Operating profit (loss) | 9901 | €17,508 | €43,043 | +€25,535 | +145.8% |
| Financial charges | 65/66B | €189 | €232 | +€42 | +22.3% |
| Recurring financial charges | 65 | €189 | €232 | +€42 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €17,319 | €42,812 | +€25,493 | +147.2% |
| Income taxes | 67/77 | €3,794 | €9,201 | +€5,407 | +142.5% |
| Profit (loss) for the period | 9904 | €13,525 | €33,611 | +€20,086 | +148.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,525 | €33,611 | +€20,086 | +148.5% |
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 1 October 2026 via checked.be.