VOLANTES: 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.
VOLANTES
Largest movements
- Cash +€36,277
up €36,277 (+79.0%), from €45,942 to €82,219
mainly Net result for the year (+€29,779) and Depreciation (+€15,293)
- Intangible fixed assets -€9,143
down €9,143 (-20.0%), from €45,714 to €36,571
- Tangible fixed assets -€6,150
down €6,150 (-21.3%), from €28,842 to €22,692
- Receivables within one year +€5,522
up €5,522 (+107%), from €5,162 to €10,684
of which Trade receivables: +€6,430
- Stocks and contracts +€2,133
up €2,133 (+28.4%), from €7,502 to €9,635
- Reserves +€29,779
up €29,779 (+82.8%), from €35,952 to €65,730
- Debts after one year -€10,897
down €10,897 (-18.7%), from €58,348 to €47,451
- Tax, wage and social debts +€7,366
up €7,366 (+82.4%), from €8,943 to €16,309
of which Taxes: +€7,446
- Short-term financial debts +€3,128
new in 2025: €3,128
- Trade debts -€2,136
down €2,136 (-53.3%), from €4,009 to €1,874
- Gross operating margin +€16,138
up €16,138 (+38.8%), from €41,563 to €57,701
- Taxes +€2,726
up €2,726 (+47.3%), from €5,763 to €8,489
- Write-downs +€1,816
up €1,816, from -€1,816 to €0
- Financial charges +€804
up €804 (+41.7%), from €1,928 to €2,732
- Staff costs -€599
down €599 (-100%), from €599 to €0
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 | €134,164 | €162,298 | +€28,133 | +21.0% |
| Fixed assets | 21/28 | €74,556 | €59,263 | -€15,293 | -20.5% |
| Intangible fixed assets | 21 | €45,714 | €36,571 | -€9,143 | -20.0% |
| Tangible fixed assets | 22/27 | €28,842 | €22,692 | -€6,150 | -21.3% |
| Plant, machinery and equipment | 23 | €28,842 | €22,692 | -€6,150 | -21.3% |
| Current assets | 29/58 | €59,609 | €103,035 | +€43,426 | +72.9% |
| Stocks and contracts in progress | 3 | €7,502 | €9,635 | +€2,133 | +28.4% |
| Stocks | 30/36 | €7,502 | €9,635 | +€2,133 | +28.4% |
| Amounts receivable within one year | 40/41 | €5,162 | €10,684 | +€5,522 | +107% |
| Trade receivables | 40 | €2,402 | €8,832 | +€6,430 | +268% |
| Other amounts receivable | 41 | €2,760 | €1,852 | -€908 | -32.9% |
| Cash at bank and in hand | 54/58 | €45,942 | €82,219 | +€36,277 | +79.0% |
| Deferred charges and accrued income | 490/1 | €1,002 | €496 | -€506 | -50.5% |
| Total equity and liabilities | 10/49 | €134,164 | €162,298 | +€28,133 | +21.0% |
| Equity | 10/15 | €49,752 | €79,530 | +€29,779 | +59.9% |
| Contributions | 10/11 | €13,800 | €13,800 | = | 0.0% |
| Reserves | 13 | €35,952 | €65,730 | +€29,779 | +82.8% |
| Distributable reserves | 133 | €35,952 | €65,730 | +€29,779 | +82.8% |
| Amounts payable | 17/49 | €84,413 | €82,767 | -€1,645 | -1.9% |
| Amounts payable after more than one year | 17 | €58,348 | €47,451 | -€10,897 | -18.7% |
| Financial debts | 170/4 | €58,348 | €47,451 | -€10,897 | -18.7% |
| Amounts payable within one year | 42/48 | €25,185 | €34,937 | +€9,751 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €10,601 | €10,897 | +€296 | +2.8% |
| Financial debts | 43 | - | €3,128 | +€3,128 | |
| Credit institutions | 430/8 | - | €3,128 | +€3,128 | |
| Trade debts | 44 | €4,009 | €1,874 | -€2,136 | -53.3% |
| Suppliers | 440/4 | €4,009 | €1,874 | -€2,136 | -53.3% |
| Taxes, remuneration and social security | 45 | €8,943 | €16,309 | +€7,366 | +82.4% |
| Taxes | 450/3 | €7,363 | €14,809 | +€7,446 | +101% |
| Remuneration and social security | 454/9 | €1,580 | €1,500 | -€80 | -5.0% |
| Other amounts payable | 47/48 | €1,632 | €2,729 | +€1,097 | +67.2% |
| Accrued charges and deferred income | 492/3 | €880 | €380 | -€500 | -56.8% |
| Remuneration, social security and pensions | 62 | €599 | €0 | -€599 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,903 | €15,293 | +€390 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,816 | €0 | +€1,816 | |
| Other operating charges | 640/8 | €2,065 | €1,566 | -€498 | -24.1% |
| Gross operating margin | 9900 | €41,563 | €57,701 | +€16,138 | +38.8% |
| Operating profit (loss) | 9901 | €25,813 | €40,842 | +€15,029 | +58.2% |
| Financial income | 75/76B | €5 | €158 | +€153 | +3,169% |
| Recurring financial income | 75 | €5 | €158 | +€153 | +3,169% |
| Financial charges | 65/66B | €1,928 | €2,732 | +€804 | +41.7% |
| Recurring financial charges | 65 | €1,928 | €2,732 | +€804 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €23,889 | €38,268 | +€14,379 | +60.2% |
| Income taxes | 67/77 | €5,763 | €8,489 | +€2,726 | +47.3% |
| Profit (loss) for the period | 9904 | €18,126 | €29,779 | +€11,652 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,126 | €29,779 | +€11,652 | +64.3% |
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 18 October 2026 via checked.be.