Valicon Holding: what changed
What changed
Valicon Holding
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€4,422
2024 · €2,334+€2,088
Equity
€337,990
2024 · €333,568+€4,422
Cash
€11,715
2024 · €1,197+€10,518
Balance sheet total
€1.1m
2024 · €1.1m-€3,535
Largest movements
Assets
- Receivables within one year -€14,053
down €14,053 (-100%), from €14,053 to €0
of which Trade receivables: -€12,100
Equity and liabilities
- Debts after one year -€93,429
down €93,429 (-15.8%), from €591,714 to €498,285
- Trade debts +€79,922
up €79,922 (+3,790%), from €2,109 to €82,031
Income statement
- Financial charges -€13,811
down €13,811 (-45.2%), from €30,545 to €16,734
- Gross operating margin -€9,523
down €9,523 (-28.5%), from €33,435 to €23,912
- Other operating charges +€998
up €998 (+720%), from €139 to €1,137
- Taxes +€961
up €961 (+146%), from €659 to €1,619
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,334
Gross operating margin
-€9,523
Other operating charges
-€998
Financial income
-€241
Financial charges
+€13,811
Taxes
-€961
Result 2025
€4,422
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€103,946
Investment
€0
Financing
-€93,429
Cash 2024
€1,197
From operations (derived)
+€103,946
Net result for the year
+€4,422
Receivables within one year
+€14,053
Trade debts
+€79,922
Tax, wage and social debts
+€9,529
Other debts
-€3,500
Accrued charges and deferred income
-€480
Financing
-€93,429
Debts after one year
-€93,429
Cash 2025
€11,715
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,115,250 | €1,111,715 | -€3,535 | -0.3% |
| Fixed assets | 21/28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €15,250 | €11,715 | -€3,535 | -23.2% |
| Amounts receivable within one year | 40/41 | €14,053 | €0 | -€14,053 | -100% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100% |
| Other amounts receivable | 41 | €1,953 | €0 | -€1,953 | -100% |
| Cash at bank and in hand | 54/58 | €1,197 | €11,715 | +€10,518 | +879% |
| Total equity and liabilities | 10/49 | €1,115,250 | €1,111,715 | -€3,535 | -0.3% |
| Equity | 10/15 | €333,568 | €337,990 | +€4,422 | +1.3% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Reserves | 13 | €8,568 | €12,990 | +€4,422 | +51.6% |
| Distributable reserves | 133 | €8,568 | €12,990 | +€4,422 | +51.6% |
| Amounts payable | 17/49 | €781,681 | €773,724 | -€7,957 | -1.0% |
| Amounts payable after more than one year | 17 | €591,714 | €498,285 | -€93,429 | -15.8% |
| Financial debts | 170/4 | €591,714 | €498,285 | -€93,429 | -15.8% |
| Amounts payable within one year | 42/48 | €189,487 | €275,439 | +€85,952 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €96,429 | €96,429 | = | 0.0% |
| Trade debts | 44 | €2,109 | €82,031 | +€79,922 | +3,790% |
| Suppliers | 440/4 | €2,109 | €82,031 | +€79,922 | +3,790% |
| Taxes, remuneration and social security | 45 | €750 | €10,279 | +€9,529 | +1,271% |
| Taxes | 450/3 | €750 | €10,279 | +€9,529 | +1,271% |
| Other amounts payable | 47/48 | €90,200 | €86,700 | -€3,500 | -3.9% |
| Accrued charges and deferred income | 492/3 | €480 | €0 | -€480 | -100% |
| Other operating charges | 640/8 | €139 | €1,137 | +€998 | +720% |
| Gross operating margin | 9900 | €33,435 | €23,912 | -€9,523 | -28.5% |
| Operating profit (loss) | 9901 | €33,296 | €22,775 | -€10,521 | -31.6% |
| Financial income | 75/76B | €241 | €0 | -€241 | -100% |
| Recurring financial income | 75 | €241 | €0 | -€241 | -100% |
| Financial charges | 65/66B | €30,545 | €16,734 | -€13,811 | -45.2% |
| Recurring financial charges | 65 | €30,545 | €16,734 | -€13,811 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €2,992 | €6,041 | +€3,049 | +102% |
| Income taxes | 67/77 | €659 | €1,619 | +€961 | +146% |
| Profit (loss) for the period | 9904 | €2,334 | €4,422 | +€2,088 | +89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,334 | €4,422 | +€2,088 | +89.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.