ValCour: 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.
ValCour
Largest movements
- Receivables within one year -€14,403
down €14,403 (-24.8%), from €58,137 to €43,734
of which Other amounts receivable: -€19,528
- Tax, wage and social debts -€14,744
down €14,744 (-81.2%), from €18,149 to €3,405
- Reserves +€2,769
up €2,769 (+12.9%), from €21,449 to €24,217
- Trade debts -€2,554
down €2,554 (-13.7%), from €18,683 to €16,129
- Gross operating margin -€16,256
down €16,256 (-86.7%), from €18,745 to €2,489
- Financial charges -€4,550
down €4,550 (-94.4%), from €4,818 to €268
- Other operating charges -€1,298
down €1,298 (-64.4%), from €2,015 to €717
- Taxes -€1,169
down €1,169 (-51.1%), from €2,287 to €1,118
- Depreciation -€367
down €367 (-73.4%), from €500 to €133
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 | €66,352 | €51,823 | -€14,529 | -21.9% |
| Fixed assets | 21/28 | €133 | €0 | -€133 | -100.0% |
| Tangible fixed assets | 22/27 | €133 | €0 | -€133 | -100.0% |
| Furniture and vehicles | 24 | €133 | €0 | -€133 | -100.0% |
| Current assets | 29/58 | €66,219 | €51,823 | -€14,396 | -21.7% |
| Amounts receivable within one year | 40/41 | €58,137 | €43,734 | -€14,403 | -24.8% |
| Trade receivables | 40 | €1,438 | €6,563 | +€5,125 | +356.5% |
| Other amounts receivable | 41 | €56,699 | €37,172 | -€19,528 | -34.4% |
| Cash at bank and in hand | 54/58 | €0 | €7 | +€7 | +4168.8% |
| Deferred charges and accrued income | 490/1 | €8,083 | €8,083 | = | 0.0% |
| Total equity and liabilities | 10/49 | €66,352 | €51,823 | -€14,529 | -21.9% |
| Equity | 10/15 | €26,449 | €29,217 | +€2,769 | +10.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,449 | €24,217 | +€2,769 | +12.9% |
| Distributable reserves | 133 | €21,449 | €24,217 | +€2,769 | +12.9% |
| Amounts payable | 17/49 | €39,904 | €22,606 | -€17,298 | -43.3% |
| Amounts payable within one year | 42/48 | €39,904 | €22,606 | -€17,298 | -43.3% |
| Trade debts | 44 | €18,683 | €16,129 | -€2,554 | -13.7% |
| Suppliers | 440/4 | €18,683 | €16,129 | -€2,554 | -13.7% |
| Taxes, remuneration and social security | 45 | €18,149 | €3,405 | -€14,744 | -81.2% |
| Taxes | 450/3 | €18,149 | €3,405 | -€14,744 | -81.2% |
| Other amounts payable | 47/48 | €3,072 | €3,072 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €133 | -€367 | -73.4% |
| Other operating charges | 640/8 | €2,015 | €717 | -€1,298 | -64.4% |
| Gross operating margin | 9900 | €18,745 | €2,489 | -€16,256 | -86.7% |
| Operating profit (loss) | 9901 | €16,230 | €1,639 | -€14,591 | -89.9% |
| Financial income | 75/76B | €2,371 | €2,516 | +€145 | +6.1% |
| Recurring financial income | 75 | €2,371 | €2,516 | +€145 | +6.1% |
| Financial charges | 65/66B | €4,818 | €268 | -€4,550 | -94.4% |
| Recurring financial charges | 65 | €4,818 | €268 | -€4,550 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €13,783 | €3,887 | -€9,896 | -71.8% |
| Income taxes | 67/77 | €2,287 | €1,118 | -€1,169 | -51.1% |
| Profit (loss) for the period | 9904 | €11,496 | €2,769 | -€8,727 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,496 | €2,769 | -€8,727 | -75.9% |
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 2 October 2026 via checked.be.