VALXACO: 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.
VALXACO
Largest movements
- Tangible fixed assets -€28,419
down €28,419 (-8.7%), from €328,294 to €299,875
of which Plant, machinery and equipment: -€16,941
- Receivables within one year -€21,502
down €21,502 (-44.3%), from €48,509 to €27,007
of which Trade receivables: -€23,682
- Cash +€10,087
up €10,087 (+80.2%), from €12,571 to €22,658
mainly Depreciation (+€28,419) and Receivables within one year (+€21,502)
- Debts after one year -€19,654
down €19,654 (-10.6%), from €185,208 to €165,554
- Trade debts -€18,489
down €18,489 (-80.8%), from €22,884 to €4,395
- Staff costs -€10,322
down €10,322 (-22.0%), from €46,945 to €36,623
- Financial charges -€1,451
down €1,451 (-21.9%), from €6,622 to €5,172
- Financial income +€1,278
up €1,278 (+442.9%), from €288 to €1,566
- Depreciation -€856
down €856 (-2.9%), from €29,275 to €28,419
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €403,960 | €363,343 | -€40,617 | -10.1% |
| Fixed assets | 21/28 | €328,294 | €299,875 | -€28,419 | -8.7% |
| Tangible fixed assets | 22/27 | €328,294 | €299,875 | -€28,419 | -8.7% |
| Land and buildings | 22 | €305,773 | €290,414 | -€15,359 | -5.0% |
| Plant, machinery and equipment | 23 | €22,316 | €5,375 | -€16,941 | -75.9% |
| Furniture and vehicles | 24 | €206 | €4,086 | +€3,881 | +1888.4% |
| Current assets | 29/58 | €75,666 | €63,468 | -€12,198 | -16.1% |
| Stocks and contracts in progress | 3 | €4,631 | €5,248 | +€617 | +13.3% |
| Stocks | 30/36 | €4,631 | €5,248 | +€617 | +13.3% |
| Amounts receivable within one year | 40/41 | €48,509 | €27,007 | -€21,502 | -44.3% |
| Trade receivables | 40 | €38,493 | €14,811 | -€23,682 | -61.5% |
| Other amounts receivable | 41 | €10,016 | €12,196 | +€2,180 | +21.8% |
| Cash at bank and in hand | 54/58 | €12,571 | €22,658 | +€10,087 | +80.2% |
| Deferred charges and accrued income | 490/1 | €9,956 | €8,556 | -€1,400 | -14.1% |
| Total equity and liabilities | 10/49 | €403,960 | €363,343 | -€40,617 | -10.1% |
| Equity | 10/15 | €158,590 | €159,301 | +€711 | +0.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €146,090 | €146,801 | +€711 | +0.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €144,090 | €144,801 | +€711 | +0.5% |
| Amounts payable | 17/49 | €245,370 | €204,042 | -€41,329 | -16.8% |
| Amounts payable after more than one year | 17 | €185,208 | €165,554 | -€19,654 | -10.6% |
| Financial debts | 170/4 | €185,208 | €165,554 | -€19,654 | -10.6% |
| Amounts payable within one year | 42/48 | €60,163 | €38,488 | -€21,675 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €19,287 | €19,654 | +€367 | +1.9% |
| Trade debts | 44 | €22,884 | €4,395 | -€18,489 | -80.8% |
| Suppliers | 440/4 | €22,884 | €4,395 | -€18,489 | -80.8% |
| Taxes, remuneration and social security | 45 | €8,374 | €5,558 | -€2,815 | -33.6% |
| Taxes | 450/3 | €3,612 | €823 | -€2,788 | -77.2% |
| Remuneration and social security | 454/9 | €4,762 | €4,735 | -€27 | -0.6% |
| Other amounts payable | 47/48 | €9,618 | €8,881 | -€737 | -7.7% |
| Remuneration, social security and pensions | 62 | €46,945 | €36,623 | -€10,322 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,275 | €28,419 | -€856 | -2.9% |
| Other operating charges | 640/8 | €3,946 | €4,220 | +€274 | +6.9% |
| Non-recurring operating charges | 66A | €577 | - | -€577 | |
| Gross operating margin | 9900 | €73,843 | €74,133 | +€290 | +0.4% |
| Operating profit (loss) | 9901 | -€6,901 | €4,871 | +€11,772 | |
| Financial income | 75/76B | €288 | €1,566 | +€1,278 | +442.9% |
| Recurring financial income | 75 | €288 | €1,566 | +€1,278 | +442.9% |
| Financial charges | 65/66B | €6,622 | €5,172 | -€1,451 | -21.9% |
| Recurring financial charges | 65 | €6,622 | €5,172 | -€1,451 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,235 | €1,265 | +€14,500 | |
| Income taxes | 67/77 | - | €554 | +€554 | |
| Profit (loss) for the period | 9904 | -€13,235 | €711 | +€13,946 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,235 | €711 | +€13,946 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.