VALDESCO: 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.
VALDESCO
Largest movements
- Receivables within one year -€31,193
down €31,193 (-76.0%), from €41,067 to €9,874
of which Trade receivables: -€33,619
- Cash +€22,732
up €22,732 (+73.2%), from €31,047 to €53,779
mainly Depreciation (+€64,961) and Net result for the year (+€49,836)
- Tangible fixed assets -€20,155
down €20,155 (-2.9%), from €706,504 to €686,349
- Profit (loss) carried forward +€49,836
up €49,836 (+35.3%), from €141,027 to €190,864
- Debts after one year -€42,897
down €42,897 (-14.5%), from €295,939 to €253,043
- Other debts -€24,151
down €24,151 (-10.7%), from €226,388 to €202,237
- Trade debts -€8,020
down €8,020 (-50.8%), from €15,800 to €7,779
- Financial charges -€13,963
down €13,963 (-40.3%), from €34,606 to €20,643
- Gross operating margin -€10,165
down €10,165 (-5.8%), from €176,403 to €166,238
- Taxes +€8,551
up €8,551 (+38.5%), from €22,199 to €30,750
- Depreciation +€6,476
up €6,476 (+11.1%), from €58,484 to €64,961
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 | €786,240 | €755,508 | -€30,731 | -3.9% |
| Fixed assets | 21/28 | €706,504 | €686,349 | -€20,155 | -2.9% |
| Tangible fixed assets | 22/27 | €706,504 | €686,349 | -€20,155 | -2.9% |
| Land and buildings | 22 | €647,636 | €638,013 | -€9,623 | -1.5% |
| Plant, machinery and equipment | 23 | €17,126 | €12,212 | -€4,914 | -28.7% |
| Furniture and vehicles | 24 | €41,742 | €36,124 | -€5,618 | -13.5% |
| Current assets | 29/58 | €79,736 | €69,159 | -€10,576 | -13.3% |
| Amounts receivable within one year | 40/41 | €41,067 | €9,874 | -€31,193 | -76.0% |
| Trade receivables | 40 | €40,219 | €6,600 | -€33,619 | -83.6% |
| Other amounts receivable | 41 | €849 | €3,274 | +€2,426 | +285.8% |
| Cash at bank and in hand | 54/58 | €31,047 | €53,779 | +€22,732 | +73.2% |
| Deferred charges and accrued income | 490/1 | €7,622 | €5,506 | -€2,116 | -27.8% |
| Total equity and liabilities | 10/49 | €786,240 | €755,508 | -€30,731 | -3.9% |
| Equity | 10/15 | €154,667 | €204,504 | +€49,836 | +32.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €1,240 | €1,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,027 | €190,864 | +€49,836 | +35.3% |
| Amounts payable | 17/49 | €631,572 | €551,004 | -€80,568 | -12.8% |
| Amounts payable after more than one year | 17 | €295,939 | €253,043 | -€42,897 | -14.5% |
| Financial debts | 170/4 | €295,939 | €253,043 | -€42,897 | -14.5% |
| Amounts payable within one year | 42/48 | €316,560 | €279,501 | -€37,058 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €45,224 | €42,897 | -€2,327 | -5.1% |
| Trade debts | 44 | €15,800 | €7,779 | -€8,020 | -50.8% |
| Suppliers | 440/4 | €15,800 | €7,779 | -€8,020 | -50.8% |
| Taxes, remuneration and social security | 45 | €29,148 | €26,589 | -€2,559 | -8.8% |
| Taxes | 450/3 | €29,148 | €26,589 | -€2,559 | -8.8% |
| Other amounts payable | 47/48 | €226,388 | €202,237 | -€24,151 | -10.7% |
| Accrued charges and deferred income | 492/3 | €19,073 | €18,460 | -€613 | -3.2% |
| Non-recurring operating income | 76A | €17,644 | €0 | -€17,644 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,484 | €64,961 | +€6,476 | +11.1% |
| Other operating charges | 640/8 | €832 | €63 | -€769 | -92.4% |
| Gross operating margin | 9900 | €176,403 | €166,238 | -€10,165 | -5.8% |
| Operating profit (loss) | 9901 | €117,087 | €101,214 | -€15,873 | -13.6% |
| Financial income | 75/76B | €0 | €16 | +€16 | |
| Recurring financial income | 75 | €0 | €16 | +€16 | |
| Financial charges | 65/66B | €34,606 | €20,643 | -€13,963 | -40.3% |
| Recurring financial charges | 65 | €34,606 | €20,643 | -€13,963 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €82,481 | €80,587 | -€1,895 | -2.3% |
| Income taxes | 67/77 | €22,199 | €30,750 | +€8,551 | +38.5% |
| Profit (loss) for the period | 9904 | €60,282 | €49,836 | -€10,446 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,282 | €49,836 | -€10,446 | -17.3% |
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 7 October 2026 via checked.be.