Valoco: 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.
Valoco
Largest movements
- Stocks and contracts -€108,514
down €108,514 (-40.4%), from €268,360 to €159,846
- Receivables within one year -€84,348
down €84,348 (-100.0%), from €84,369 to €21
of which Other amounts receivable: -€79,550
- Cash -€23,988
down €23,988 (-44.3%), from €54,139 to €30,151
mainly Contributions, distributions and other (-€100,000) and Tax, wage and social debts (-€65,168)
- Reserves -€100,000
down €100,000 (-51.4%), from €194,446 to €94,446
- Tax, wage and social debts -€65,168
down €65,168 (-88.1%), from €73,984 to €8,816
- Debts after one year -€39,642
down €39,642 (-43.3%), from €91,575 to €51,933
- Profit (loss) carried forward -€8,012
new in 2025: -€8,012
- Trade debts -€5,804
no longer reported in 2025 (was €5,804)
- Gross operating margin -€190,519
down €190,519 (-91.0%), from €209,376 to €18,856
- Taxes -€47,741
no longer reported in 2025 (was €47,741)
- Other operating charges +€9,546
up €9,546 (+428.0%), from €2,230 to €11,777
- Financial charges +€7,088
up €7,088 (+95.4%), from €7,431 to €14,519
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 | €412,646 | €195,222 | -€217,424 | -52.7% |
| Fixed assets | 21/28 | €5,778 | €5,205 | -€573 | -9.9% |
| Tangible fixed assets | 22/27 | €5,778 | €5,205 | -€573 | -9.9% |
| Furniture and vehicles | 24 | €2,292 | €1,719 | -€573 | -25.0% |
| Other tangible fixed assets | 26 | €3,486 | €3,486 | = | 0.0% |
| Current assets | 29/58 | €406,868 | €190,017 | -€216,850 | -53.3% |
| Stocks and contracts in progress | 3 | €268,360 | €159,846 | -€108,514 | -40.4% |
| Stocks | 30/36 | €268,360 | €159,846 | -€108,514 | -40.4% |
| Amounts receivable within one year | 40/41 | €84,369 | €21 | -€84,348 | -100.0% |
| Trade receivables | 40 | €4,818 | €21 | -€4,798 | -99.6% |
| Other amounts receivable | 41 | €79,550 | - | -€79,550 | |
| Cash at bank and in hand | 54/58 | €54,139 | €30,151 | -€23,988 | -44.3% |
| Total equity and liabilities | 10/49 | €412,646 | €195,222 | -€217,424 | -52.7% |
| Equity | 10/15 | €213,046 | €105,034 | -€108,012 | -50.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,446 | €94,446 | -€100,000 | -51.4% |
| Distributable reserves | 133 | €194,446 | €94,446 | -€100,000 | -51.4% |
| Profit (loss) carried forward | 14 | - | -€8,012 | -€8,012 | |
| Amounts payable | 17/49 | €199,600 | €90,188 | -€109,412 | -54.8% |
| Amounts payable after more than one year | 17 | €91,575 | €51,933 | -€39,642 | -43.3% |
| Financial debts | 170/4 | €91,575 | €51,933 | -€39,642 | -43.3% |
| Amounts payable within one year | 42/48 | €108,026 | €38,255 | -€69,770 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €14,886 | €15,360 | +€473 | +3.2% |
| Trade debts | 44 | €5,804 | - | -€5,804 | |
| Suppliers | 440/4 | €5,804 | - | -€5,804 | |
| Taxes, remuneration and social security | 45 | €73,984 | €8,816 | -€65,168 | -88.1% |
| Taxes | 450/3 | €73,984 | €8,816 | -€65,168 | -88.1% |
| Other amounts payable | 47/48 | €13,351 | €14,079 | +€729 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €573 | = | 0.0% |
| Other operating charges | 640/8 | €2,230 | €11,777 | +€9,546 | +428.0% |
| Gross operating margin | 9900 | €209,376 | €18,856 | -€190,519 | -91.0% |
| Operating profit (loss) | 9901 | €206,572 | €6,507 | -€200,066 | -96.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,431 | €14,519 | +€7,088 | +95.4% |
| Recurring financial charges | 65 | €7,431 | €14,519 | +€7,088 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | €199,142 | -€8,012 | -€207,154 | |
| Income taxes | 67/77 | €47,741 | - | -€47,741 | |
| Profit (loss) for the period | 9904 | €151,401 | -€8,012 | -€159,413 | |
| Profit (loss) for the period to be appropriated | 9905 | €151,401 | -€8,012 | -€159,413 |
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 11 October 2026 via checked.be.