De Volharding: 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.
De Volharding
Largest movements
- Tangible fixed assets +€207,923
up €207,923 (+12.8%), from €1.6m to €1.8m
of which Land and buildings: +€219,813
- Cash +€50,429
up €50,429 (+775%), from €6,507 to €56,936
mainly Contributions, distributions and other (+€250,000) and Net result for the year (+€248,340)
- Receivables within one year -€30,240
no longer reported in 2025 (was €30,240)
of which Other amounts receivable: -€28,909
- Debts after one year -€294,812
down €294,812 (-19.3%), from €1.5m to €1.2m
- Contributions +€250,000
up €250,000 (+33.3%), from €750,000 to €1.0m
- Profit (loss) carried forward +€248,340
up €248,340 (+30.4%), from -€817,078 to -€568,737
- Other debts +€52,582
up €52,582 (+54.3%), from €96,925 to €149,507
- Trade debts -€25,706
down €25,706 (-99.7%), from €25,786 to €80
- Gross operating margin +€289,627
up €289,627 (+253%), from €114,675 to €404,302
- Depreciation -€82,548
down €82,548 (-50.3%), from €164,222 to €81,674
- Financial charges -€4,714
down €4,714 (-10.2%), from €46,250 to €41,536
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 | €1,670,229 | €1,897,653 | +€227,424 | +13.6% |
| Fixed assets | 21/28 | €1,629,133 | €1,835,405 | +€206,272 | +12.7% |
| Intangible fixed assets | 21 | €5,551 | €3,899 | -€1,651 | -29.7% |
| Tangible fixed assets | 22/27 | €1,622,686 | €1,830,609 | +€207,923 | +12.8% |
| Land and buildings | 22 | €1,570,834 | €1,790,647 | +€219,813 | +14.0% |
| Plant, machinery and equipment | 23 | €33,092 | €27,732 | -€5,360 | -16.2% |
| Furniture and vehicles | 24 | €18,760 | €12,230 | -€6,529 | -34.8% |
| Financial fixed assets | 28 | €896 | €896 | = | 0.0% |
| Current assets | 29/58 | €41,096 | €62,248 | +€21,152 | +51.5% |
| Amounts receivable within one year | 40/41 | €30,240 | - | -€30,240 | |
| Trade receivables | 40 | €1,330 | - | -€1,330 | |
| Other amounts receivable | 41 | €28,909 | - | -€28,909 | |
| Cash at bank and in hand | 54/58 | €6,507 | €56,936 | +€50,429 | +775% |
| Deferred charges and accrued income | 490/1 | €4,350 | €5,312 | +€962 | +22.1% |
| Total equity and liabilities | 10/49 | €1,670,229 | €1,897,653 | +€227,424 | +13.6% |
| Equity | 10/15 | -€67,078 | €431,263 | +€498,340 | |
| Contributions | 10/11 | €750,000 | €1,000,000 | +€250,000 | +33.3% |
| Capital | 10 | €750,000 | €1,000,000 | +€250,000 | +33.3% |
| Issued capital | 100 | €750,000 | €1,000,000 | +€250,000 | +33.3% |
| Profit (loss) carried forward | 14 | -€817,078 | -€568,737 | +€248,340 | +30.4% |
| Amounts payable | 17/49 | €1,737,307 | €1,466,390 | -€270,917 | -15.6% |
| Amounts payable after more than one year | 17 | €1,526,055 | €1,231,243 | -€294,812 | -19.3% |
| Financial debts | 170/4 | €1,526,055 | €1,231,243 | -€294,812 | -19.3% |
| Amounts payable within one year | 42/48 | €168,933 | €199,088 | +€30,155 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €44,784 | €44,993 | +€209 | +0.5% |
| Trade debts | 44 | €25,786 | €80 | -€25,706 | -99.7% |
| Suppliers | 440/4 | €25,786 | €80 | -€25,706 | -99.7% |
| Taxes, remuneration and social security | 45 | €1,439 | €4,509 | +€3,070 | +213% |
| Taxes | 450/3 | €1,439 | €4,209 | +€2,770 | +193% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | €96,925 | €149,507 | +€52,582 | +54.3% |
| Accrued charges and deferred income | 492/3 | €42,319 | €36,059 | -€6,260 | -14.8% |
| Non-recurring operating income | 76A | - | €280,675 | +€280,675 | |
| Remuneration, social security and pensions | 62 | €17,335 | €18,093 | +€758 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,222 | €81,674 | -€82,548 | -50.3% |
| Other operating charges | 640/8 | €14,769 | €13,284 | -€1,485 | -10.1% |
| Gross operating margin | 9900 | €114,675 | €404,302 | +€289,627 | +253% |
| Operating profit (loss) | 9901 | -€81,651 | €291,250 | +€372,902 | |
| Financial income | 75/76B | €65 | €14 | -€51 | -78.4% |
| Recurring financial income | 75 | €65 | €14 | -€51 | -78.4% |
| Financial charges | 65/66B | €46,250 | €41,536 | -€4,714 | -10.2% |
| Recurring financial charges | 65 | €46,250 | €41,536 | -€4,714 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | -€127,837 | €249,728 | +€377,565 | |
| Income taxes | 67/77 | €288 | €1,388 | +€1,100 | +382% |
| Profit (loss) for the period | 9904 | -€128,125 | €248,340 | +€376,465 | |
| Profit (loss) for the period to be appropriated | 9905 | -€128,125 | €248,340 | +€376,465 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.