VOLCANO: 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.
VOLCANO
Largest movements
- Cash -€7,039
down €7,039 (-12.9%), from €54,659 to €47,621
mainly Net result for the year (-€15,603) and Deferred charges and accrued income (-€148)
- Profit (loss) carried forward -€15,603
down €15,603 (-17.2%), from -€90,908 to -€106,511
- Debts after one year +€8,789
up €8,789 (+5.0%), from €175,785 to €184,574
- Other operating charges +€2,336
up €2,336 (+285.8%), from €818 to €3,154
- Gross operating margin -€1,637
down €1,637 (-130.4%), from -€1,255 to -€2,892
- Financial charges +€506
up €506 (+5.5%), from €9,198 to €9,704
- Financial income -€191
down €191 (-52.3%), from €365 to €174
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.
Cash bridge derived
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 | €103,799 | €96,908 | -€6,891 | -6.6% |
| Fixed assets | 21/28 | €48,810 | €48,810 | = | 0.0% |
| Financial fixed assets | 28 | €48,810 | €48,810 | = | 0.0% |
| Current assets | 29/58 | €54,989 | €48,098 | -€6,891 | -12.5% |
| Amounts receivable within one year | 40/41 | €329 | €329 | = | 0.0% |
| Other amounts receivable | 41 | €329 | €329 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,659 | €47,621 | -€7,039 | -12.9% |
| Deferred charges and accrued income | 490/1 | - | €148 | +€148 | |
| Total equity and liabilities | 10/49 | €103,799 | €96,908 | -€6,891 | -6.6% |
| Equity | 10/15 | -€72,063 | -€87,666 | -€15,603 | -21.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €245 | €245 | = | 0.0% |
| Distributable reserves | 133 | €245 | €245 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,908 | -€106,511 | -€15,603 | -17.2% |
| Amounts payable | 17/49 | €175,862 | €184,574 | +€8,712 | +5.0% |
| Amounts payable after more than one year | 17 | €175,785 | €184,574 | +€8,789 | +5.0% |
| Financial debts | 170/4 | €175,785 | €184,574 | +€8,789 | +5.0% |
| Accrued charges and deferred income | 492/3 | €77 | - | -€77 | |
| Other operating charges | 640/8 | €818 | €3,154 | +€2,336 | +285.8% |
| Gross operating margin | 9900 | -€1,255 | -€2,892 | -€1,637 | -130.4% |
| Operating profit (loss) | 9901 | -€2,073 | -€6,046 | -€3,973 | -191.7% |
| Financial income | 75/76B | €365 | €174 | -€191 | -52.3% |
| Recurring financial income | 75 | €365 | €174 | -€191 | -52.3% |
| Financial charges | 65/66B | €9,198 | €9,704 | +€506 | +5.5% |
| Recurring financial charges | 65 | €9,198 | €9,704 | +€506 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,906 | -€15,576 | -€4,670 | -42.8% |
| Income taxes | 67/77 | €55 | €26 | -€29 | -52.3% |
| Profit (loss) for the period | 9904 | -€10,961 | -€15,603 | -€4,642 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,961 | -€15,603 | -€4,642 | -42.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.