VALECO: 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.
VALECO
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-84.1%), from €1.2m to €190,829
of which Other amounts receivable: -€1.1m
- Other debts -€1.1m
down €1.1m (-96.7%), from €1.1m to €36,150
- Profit (loss) carried forward +€89,298
up €89,298 (+9.8%), from €910,010 to €999,308
- Financial income -€588,587
down €588,587 (-99.8%), from €589,846 to €1,259
- Taxes -€12,656
down €12,656 (-42.0%), from €30,100 to €17,444
- Gross operating margin -€1,352
down €1,352 (-1.2%), from €110,783 to €109,432
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 | €2,980,955 | €2,001,668 | -€979,287 | -32.9% |
| Fixed assets | 21/28 | €1,611,026 | €1,619,764 | +€8,738 | +0.5% |
| Financial fixed assets | 28 | €1,611,026 | €1,619,764 | +€8,738 | +0.5% |
| Current assets | 29/58 | €1,369,929 | €381,905 | -€988,024 | -72.1% |
| Amounts receivable within one year | 40/41 | €1,199,363 | €190,829 | -€1.0m | -84.1% |
| Trade receivables | 40 | €40,372 | €115,063 | +€74,690 | +185.0% |
| Other amounts receivable | 41 | €1,158,990 | €75,767 | -€1.1m | -93.5% |
| Cash at bank and in hand | 54/58 | €170,563 | €190,652 | +€20,090 | +11.8% |
| Deferred charges and accrued income | 490/1 | €4 | €423 | +€419 | +11650.0% |
| Total equity and liabilities | 10/49 | €2,980,955 | €2,001,668 | -€979,287 | -32.9% |
| Equity | 10/15 | €1,842,247 | €1,931,545 | +€89,298 | +4.8% |
| Contributions | 10/11 | €830,443 | €830,443 | = | 0.0% |
| Capital | 10 | €830,443 | €830,443 | = | 0.0% |
| Issued capital | 100 | €830,443 | €830,443 | = | 0.0% |
| Reserves | 13 | €101,794 | €101,794 | = | 0.0% |
| Non-distributable reserves | 130/1 | €83,044 | €83,044 | = | 0.0% |
| Legal reserve | 130 | €83,044 | €83,044 | = | 0.0% |
| Distributable reserves | 133 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €910,010 | €999,308 | +€89,298 | +9.8% |
| Amounts payable | 17/49 | €1,138,707 | €70,123 | -€1.1m | -93.8% |
| Amounts payable within one year | 42/48 | €1,135,029 | €63,533 | -€1.1m | -94.4% |
| Trade debts | 44 | €3,690 | €27,383 | +€23,693 | +642.1% |
| Suppliers | 440/4 | €3,690 | €27,383 | +€23,693 | +642.1% |
| Taxes, remuneration and social security | 45 | €23,100 | - | -€23,100 | |
| Taxes | 450/3 | €23,100 | - | -€23,100 | |
| Other amounts payable | 47/48 | €1,108,239 | €36,150 | -€1.1m | -96.7% |
| Accrued charges and deferred income | 492/3 | €3,679 | €6,590 | +€2,911 | +79.1% |
| Non-recurring operating income | 76A | €4,272 | - | -€4,272 | |
| Other operating charges | 640/8 | €1,118 | €998 | -€119 | -10.7% |
| Gross operating margin | 9900 | €110,783 | €109,432 | -€1,352 | -1.2% |
| Operating profit (loss) | 9901 | €109,666 | €108,433 | -€1,232 | -1.1% |
| Financial income | 75/76B | €589,846 | €1,259 | -€588,587 | -99.8% |
| Recurring financial income | 75 | €589,846 | €1,259 | -€588,587 | -99.8% |
| Financial charges | 65/66B | €2,975 | €2,950 | -€25 | -0.9% |
| Recurring financial charges | 65 | €2,975 | €2,950 | -€25 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €696,537 | €106,742 | -€589,794 | -84.7% |
| Income taxes | 67/77 | €30,100 | €17,444 | -€12,656 | -42.0% |
| Profit (loss) for the period | 9904 | €666,437 | €89,298 | -€577,138 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €666,437 | €89,298 | -€577,138 | -86.6% |
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 12 October 2026 via checked.be.