VOLCKE-MASSCHELEIN: 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.
VOLCKE-MASSCHELEIN
Largest movements
- Receivables after one year -€39,978
down €39,978 (-13.5%), from €297,208 to €257,230
- Cash +€31,668
up €31,668 (+50.7%), from €62,491 to €94,159
mainly Depreciation (+€66,406) and Receivables after one year (+€39,978)
- Reserves -€53,859
down €53,859 (-5.2%), from €1.0m to €976,416
of which Distributable reserves: -€51,536
- Profit (loss) carried forward +€30,131
up €30,131 (+29.2%), from €103,087 to €133,218
- Gross operating margin +€61,895
up €61,895 (+205%), from €30,169 to €92,064
- Depreciation -€5,219
down €5,219 (-7.3%), from €71,625 to €66,406
- Other operating charges -€994
down €994 (-11.5%), from €8,621 to €7,627
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 | €1,530,264 | €1,519,022 | -€11,243 | -0.7% |
| Fixed assets | 21/28 | €887,421 | €877,831 | -€9,590 | -1.1% |
| Tangible fixed assets | 22/27 | €887,421 | €877,831 | -€9,590 | -1.1% |
| Land and buildings | 22 | €883,895 | €831,762 | -€52,133 | -5.9% |
| Furniture and vehicles | 24 | €3,526 | €46,070 | +€42,544 | +1,206% |
| Current assets | 29/58 | €642,843 | €641,190 | -€1,653 | -0.3% |
| Amounts receivable after more than one year | 29 | €297,208 | €257,230 | -€39,978 | -13.5% |
| Other amounts receivable | 291 | €297,208 | €257,230 | -€39,978 | -13.5% |
| Amounts receivable within one year | 40/41 | €49,268 | €47,021 | -€2,247 | -4.6% |
| Trade receivables | 40 | €2,202 | €0 | -€2,202 | -100% |
| Other amounts receivable | 41 | €47,066 | €47,021 | -€45 | -0.1% |
| Current investments | 50/53 | €233,876 | €242,780 | +€8,905 | +3.8% |
| Cash at bank and in hand | 54/58 | €62,491 | €94,159 | +€31,668 | +50.7% |
| Total equity and liabilities | 10/49 | €1,530,264 | €1,519,022 | -€11,243 | -0.7% |
| Equity | 10/15 | €1,371,756 | €1,348,027 | -€23,729 | -1.7% |
| Contributions | 10/11 | €238,393 | €238,393 | = | 0.0% |
| Reserves | 13 | €1,030,276 | €976,416 | -€53,859 | -5.2% |
| Tax-exempt reserves | 132 | €69,361 | €67,038 | -€2,323 | -3.3% |
| Distributable reserves | 133 | €960,915 | €909,379 | -€51,536 | -5.4% |
| Profit (loss) carried forward | 14 | €103,087 | €133,218 | +€30,131 | +29.2% |
| Provisions and deferred taxes | 16 | €35,584 | €34,388 | -€1,196 | -3.4% |
| Deferred taxes | 168 | €35,584 | €34,388 | -€1,196 | -3.4% |
| Amounts payable | 17/49 | €122,924 | €136,606 | +€13,682 | +11.1% |
| Amounts payable within one year | 42/48 | €122,924 | €136,606 | +€13,682 | +11.1% |
| Trade debts | 44 | €0 | €8,054 | +€8,054 | |
| Suppliers | 440/4 | €0 | €8,054 | +€8,054 | |
| Taxes, remuneration and social security | 45 | €150 | €0 | -€150 | -100% |
| Taxes | 450/3 | €150 | €0 | -€150 | -100% |
| Other amounts payable | 47/48 | €122,774 | €128,552 | +€5,778 | +4.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,625 | €66,406 | -€5,219 | -7.3% |
| Other operating charges | 640/8 | €8,621 | €7,627 | -€994 | -11.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €30,169 | €92,064 | +€61,895 | +205% |
| Operating profit (loss) | 9901 | -€50,077 | €18,030 | +€68,107 | |
| Financial income | 75/76B | €10,027 | €9,312 | -€715 | -7.1% |
| Recurring financial income | 75 | €10,027 | €9,312 | -€715 | -7.1% |
| Financial charges | 65/66B | €66 | €199 | +€133 | +203% |
| Recurring financial charges | 65 | €66 | €199 | +€133 | +203% |
| Profit (loss) for the period before taxes | 9903 | -€40,115 | €27,144 | +€67,259 | |
| Transfer from deferred taxes | 780 | €1,196 | €1,196 | = | 0.0% |
| Income taxes | 67/77 | €600 | €532 | -€67 | -11.2% |
| Profit (loss) for the period | 9904 | -€39,519 | €27,808 | +€67,326 | |
| Transfer from tax-exempt reserves | 789 | €2,323 | €2,323 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,196 | €30,131 | +€67,326 |
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.