Valneco: 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.
Valneco
Largest movements
- Current investments -€370,576
down €370,576 (-94.9%), from €390,416 to €19,840
- Receivables within one year +€32,268
up €32,268 (+529%), from €6,101 to €38,369
of which Trade receivables: +€28,004
- Cash -€11,418
down €11,418 (-37.2%), from €30,693 to €19,275
mainly Contributions, distributions and other (-€234,000) and Other debts (-€111,979)
- Profit (loss) carried forward -€164,710
down €164,710 (-99.7%), from €165,219 to €509
- Other debts -€111,979
down €111,979 (-77.5%), from €144,503 to €32,525
- Tax, wage and social debts -€78,086
down €78,086 (-80.2%), from €97,321 to €19,235
- Gross operating margin -€353,629
down €353,629 (-77.9%), from €454,029 to €100,400
- Taxes -€80,129
down €80,129 (-73.6%), from €108,904 to €28,775
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.
Derived cash bridge
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 | €437,283 | €84,452 | -€352,830 | -80.7% |
| Fixed assets | 21/28 | €6,596 | €4,206 | -€2,390 | -36.2% |
| Tangible fixed assets | 22/27 | €6,596 | €4,206 | -€2,390 | -36.2% |
| Furniture and vehicles | 24 | €3,998 | €2,131 | -€1,867 | -46.7% |
| Other tangible fixed assets | 26 | €2,598 | €2,076 | -€522 | -20.1% |
| Current assets | 29/58 | €430,687 | €80,246 | -€350,441 | -81.4% |
| Amounts receivable within one year | 40/41 | €6,101 | €38,369 | +€32,268 | +529% |
| Trade receivables | 40 | €0 | €28,004 | +€28,004 | |
| Other amounts receivable | 41 | €6,101 | €10,364 | +€4,264 | +69.9% |
| Current investments | 50/53 | €390,416 | €19,840 | -€370,576 | -94.9% |
| Cash at bank and in hand | 54/58 | €30,693 | €19,275 | -€11,418 | -37.2% |
| Deferred charges and accrued income | 490/1 | €3,477 | €2,762 | -€715 | -20.6% |
| Total equity and liabilities | 10/49 | €437,283 | €84,452 | -€352,830 | -80.7% |
| Equity | 10/15 | €183,769 | €19,059 | -€164,710 | -89.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,219 | €509 | -€164,710 | -99.7% |
| Amounts payable | 17/49 | €253,514 | €65,393 | -€188,120 | -74.2% |
| Amounts payable within one year | 42/48 | €253,514 | €65,393 | -€188,120 | -74.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,689 | €13,634 | +€1,944 | +16.6% |
| Suppliers | 440/4 | €11,689 | €13,634 | +€1,944 | +16.6% |
| Taxes, remuneration and social security | 45 | €97,321 | €19,235 | -€78,086 | -80.2% |
| Taxes | 450/3 | €97,321 | €19,235 | -€78,086 | -80.2% |
| Other amounts payable | 47/48 | €144,503 | €32,525 | -€111,979 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,601 | €2,390 | -€212 | -8.1% |
| Other operating charges | 640/8 | €872 | €400 | -€472 | -54.1% |
| Non-recurring operating charges | 66A | €16,793 | €0 | -€16,793 | -100% |
| Gross operating margin | 9900 | €454,029 | €100,400 | -€353,629 | -77.9% |
| Operating profit (loss) | 9901 | €433,763 | €97,611 | -€336,152 | -77.5% |
| Financial income | 75/76B | €678 | €613 | -€65 | -9.6% |
| Recurring financial income | 75 | €678 | €613 | -€65 | -9.6% |
| Financial charges | 65/66B | €317 | €158 | -€159 | -50.1% |
| Recurring financial charges | 65 | €317 | €158 | -€159 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | €434,124 | €98,065 | -€336,059 | -77.4% |
| Income taxes | 67/77 | €108,904 | €28,775 | -€80,129 | -73.6% |
| Profit (loss) for the period | 9904 | €325,219 | €69,290 | -€255,929 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €325,219 | €69,290 | -€255,929 | -78.7% |
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 24 October 2026 via checked.be.