Dr. Alexander Volcke: what changed
Dr. Alexander Volcke
Largest movements
- Cash -€64,508
down €64,508 (-60.6%), from €106,473 to €41,966
mainly Contributions, distributions and other (-€263,351) and Receivables after one year (-€52,000)
- Receivables after one year +€52,000
new in 2025: €52,000
- Current investments +€12,134
up €12,134 (+13.5%), from €90,011 to €102,145
- Tangible fixed assets +€8,835
up €8,835 (+233%), from €3,799 to €12,634
of which Plant, machinery and equipment: +€9,748
- Deferred charges and accrued income +€7,621
up €7,621 (+15.1%), from €50,543 to €58,164
- Other debts +€137,849
up €137,849 (+1,378%), from €10,000 to €147,849
- Reserves -€116,268
down €116,268 (-55.9%), from €207,905 to €91,636
- Accrued charges and deferred income -€17,536
down €17,536 (-100%), from €17,536 to €0
- Tax, wage and social debts +€8,157
up €8,157 (+88.4%), from €9,226 to €17,383
of which Taxes: +€10,647
- Gross operating margin +€27,669
up €27,669 (+16.7%), from €165,614 to €193,283
- Taxes +€7,987
up €7,987 (+20.7%), from €38,568 to €46,555
- Financial income +€2,888
up €2,888 (+337%), from €858 to €3,745
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,675 | €266,909 | +€12,234 | +4.8% |
| Fixed assets | 21/28 | €3,799 | €12,634 | +€8,835 | +233% |
| Tangible fixed assets | 22/27 | €3,799 | €12,634 | +€8,835 | +233% |
| Plant, machinery and equipment | 23 | - | €9,748 | +€9,748 | |
| Furniture and vehicles | 24 | €3,799 | €2,886 | -€913 | -24.0% |
| Current assets | 29/58 | €250,876 | €254,275 | +€3,399 | +1.4% |
| Amounts receivable after more than one year | 29 | - | €52,000 | +€52,000 | |
| Other amounts receivable | 291 | - | €52,000 | +€52,000 | |
| Amounts receivable within one year | 40/41 | €3,848 | €0 | -€3,848 | -100% |
| Other amounts receivable | 41 | €3,848 | €0 | -€3,848 | -100% |
| Current investments | 50/53 | €90,011 | €102,145 | +€12,134 | +13.5% |
| Cash at bank and in hand | 54/58 | €106,473 | €41,966 | -€64,508 | -60.6% |
| Deferred charges and accrued income | 490/1 | €50,543 | €58,164 | +€7,621 | +15.1% |
| Total equity and liabilities | 10/49 | €254,675 | €266,909 | +€12,234 | +4.8% |
| Equity | 10/15 | €211,905 | €95,636 | -€116,268 | -54.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €207,905 | €91,636 | -€116,268 | -55.9% |
| Distributable reserves | 133 | €207,905 | €91,636 | -€116,268 | -55.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,771 | €171,273 | +€128,502 | +300% |
| Amounts payable within one year | 42/48 | €25,235 | €171,273 | +€146,039 | +579% |
| Trade debts | 44 | €6,009 | €6,041 | +€32 | +0.5% |
| Suppliers | 440/4 | €6,009 | €6,041 | +€32 | +0.5% |
| Taxes, remuneration and social security | 45 | €9,226 | €17,383 | +€8,157 | +88.4% |
| Taxes | 450/3 | €6,736 | €17,383 | +€10,647 | +158% |
| Remuneration and social security | 454/9 | €2,490 | €0 | -€2,490 | -100% |
| Other amounts payable | 47/48 | €10,000 | €147,849 | +€137,849 | +1,378% |
| Accrued charges and deferred income | 492/3 | €17,536 | €0 | -€17,536 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €766 | €2,286 | +€1,520 | +198% |
| Other operating charges | 640/8 | €419 | €459 | +€40 | +9.5% |
| Gross operating margin | 9900 | €165,614 | €193,283 | +€27,669 | +16.7% |
| Operating profit (loss) | 9901 | €164,429 | €190,538 | +€26,109 | +15.9% |
| Financial income | 75/76B | €858 | €3,745 | +€2,888 | +337% |
| Recurring financial income | 75 | €858 | €3,745 | +€2,888 | +337% |
| Financial charges | 65/66B | €450 | €645 | +€195 | +43.3% |
| Recurring financial charges | 65 | €450 | €645 | +€195 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €164,836 | €193,638 | +€28,802 | +17.5% |
| Income taxes | 67/77 | €38,568 | €46,555 | +€7,987 | +20.7% |
| Profit (loss) for the period | 9904 | €126,268 | €147,083 | +€20,814 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €126,268 | €147,083 | +€20,814 | +16.5% |
Next steps
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 6 November 2026 via checked.be.