Under The Volcano: 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.
Under The Volcano
Largest movements
- Cash +€44,634
up €44,634 (+685%), from €6,512 to €51,146
mainly Receivables within one year (+€20,948) and Net result for the year (+€12,025)
- Receivables within one year -€20,948
down €20,948 (-67.0%), from €31,262 to €10,314
of which Trade receivables: -€30,250
- Current investments -€10,003
down €10,003 (-100%), from €10,003 to €0
- Tangible fixed assets -€5,569
down €5,569 (-23.5%), from €23,681 to €18,112
of which Furniture and vehicles: -€3,803
- Deferred charges and accrued income +€3,339
up €3,339 (+772%), from €432 to €3,772
- Reserves +€12,025
up €12,025 (+20.2%), from €59,499 to €71,524
- Tax, wage and social debts -€1,877
down €1,877 (-100%), from €1,877 to €0
- Trade debts +€1,027
up €1,027 (+21.1%), from €4,872 to €5,900
- Gross operating margin -€23,159
down €23,159 (-47.3%), from €48,994 to €25,835
- Taxes -€4,656
down €4,656 (-48.4%), from €9,629 to €4,973
- Depreciation +€780
up €780 (+11.2%), from €6,988 to €7,769
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 | €71,891 | €83,345 | +€11,454 | +15.9% |
| Fixed assets | 21/28 | €23,681 | €18,112 | -€5,569 | -23.5% |
| Tangible fixed assets | 22/27 | €23,681 | €18,112 | -€5,569 | -23.5% |
| Furniture and vehicles | 24 | €10,505 | €6,702 | -€3,803 | -36.2% |
| Other tangible fixed assets | 26 | €13,176 | €11,411 | -€1,765 | -13.4% |
| Current assets | 29/58 | €48,210 | €65,232 | +€17,023 | +35.3% |
| Amounts receivable within one year | 40/41 | €31,262 | €10,314 | -€20,948 | -67.0% |
| Trade receivables | 40 | €30,250 | €0 | -€30,250 | -100% |
| Other amounts receivable | 41 | €1,012 | €10,314 | +€9,302 | +919% |
| Current investments | 50/53 | €10,003 | €0 | -€10,003 | -100% |
| Cash at bank and in hand | 54/58 | €6,512 | €51,146 | +€44,634 | +685% |
| Deferred charges and accrued income | 490/1 | €432 | €3,772 | +€3,339 | +772% |
| Total equity and liabilities | 10/49 | €71,891 | €83,345 | +€11,454 | +15.9% |
| Equity | 10/15 | €64,499 | €76,524 | +€12,025 | +18.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,499 | €71,524 | +€12,025 | +20.2% |
| Distributable reserves | 133 | €59,499 | €71,524 | +€12,025 | +20.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,392 | €6,821 | -€571 | -7.7% |
| Amounts payable within one year | 42/48 | €7,392 | €6,821 | -€571 | -7.7% |
| Financial debts | 43 | €427 | €921 | +€494 | +116% |
| Credit institutions | 430/8 | €427 | €921 | +€494 | +116% |
| Trade debts | 44 | €4,872 | €5,900 | +€1,027 | +21.1% |
| Suppliers | 440/4 | €4,872 | €5,900 | +€1,027 | +21.1% |
| Taxes, remuneration and social security | 45 | €1,877 | €0 | -€1,877 | -100% |
| Taxes | 450/3 | €1,877 | €0 | -€1,877 | -100% |
| Other amounts payable | 47/48 | €215 | €0 | -€215 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,988 | €7,769 | +€780 | +11.2% |
| Other operating charges | 640/8 | €1,095 | €1,004 | -€91 | -8.3% |
| Gross operating margin | 9900 | €48,994 | €25,835 | -€23,159 | -47.3% |
| Operating profit (loss) | 9901 | €40,911 | €17,062 | -€23,848 | -58.3% |
| Financial income | 75/76B | €13 | €76 | +€63 | +476% |
| Recurring financial income | 75 | €13 | €76 | +€63 | +476% |
| Financial charges | 65/66B | €99 | €140 | +€41 | +41.0% |
| Recurring financial charges | 65 | €99 | €140 | +€41 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €40,825 | €16,999 | -€23,826 | -58.4% |
| Income taxes | 67/77 | €9,629 | €4,973 | -€4,656 | -48.4% |
| Profit (loss) for the period | 9904 | €31,195 | €12,025 | -€19,170 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,195 | €12,025 | -€19,170 | -61.5% |
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 17 October 2026 via checked.be.