Volders: 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.
Volders
Largest movements
- Receivables within one year +€70,631
up €70,631 (+164%), from €42,970 to €113,602
of which Other amounts receivable: +€65,915
- Tangible fixed assets -€47,526
down €47,526 (-5.9%), from €804,590 to €757,063
of which Other tangible fixed assets: -€41,510
- Cash +€9,745
up €9,745 (+19.3%), from €50,606 to €60,351
mainly Net result for the year (+€116,102) and Depreciation (+€47,526)
- Reserves +€70,599
up €70,599 (+14.4%), from €488,988 to €559,587
of which Distributable reserves: +€78,701
- Other debts -€32,951
down €32,951 (-40.5%), from €81,327 to €48,376
- Gross operating margin +€50,042
up €50,042 (+27.0%), from €185,472 to €235,513
- Taxes +€14,397
up €14,397 (+35.1%), from €41,045 to €55,441
- Financial income -€2,833
down €2,833 (-88.6%), from €3,197 to €364
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 | €912,339 | €945,993 | +€33,654 | +3.7% |
| Fixed assets | 21/28 | €804,595 | €757,068 | -€47,526 | -5.9% |
| Tangible fixed assets | 22/27 | €804,590 | €757,063 | -€47,526 | -5.9% |
| Land and buildings | 22 | €230,008 | €223,991 | -€6,016 | -2.6% |
| Other tangible fixed assets | 26 | €574,582 | €533,072 | -€41,510 | -7.2% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €107,744 | €188,925 | +€81,180 | +75.3% |
| Amounts receivable within one year | 40/41 | €42,970 | €113,602 | +€70,631 | +164% |
| Trade receivables | 40 | €25,000 | €29,716 | +€4,716 | +18.9% |
| Other amounts receivable | 41 | €17,970 | €83,885 | +€65,915 | +367% |
| Cash at bank and in hand | 54/58 | €50,606 | €60,351 | +€9,745 | +19.3% |
| Deferred charges and accrued income | 490/1 | €14,168 | €14,972 | +€804 | +5.7% |
| Total equity and liabilities | 10/49 | €912,339 | €945,993 | +€33,654 | +3.7% |
| Equity | 10/15 | €762,343 | €832,942 | +€70,599 | +9.3% |
| Contributions | 10/11 | €273,355 | €273,355 | = | 0.0% |
| Capital | 10 | €273,355 | €273,355 | = | 0.0% |
| Issued capital | 100 | €273,355 | €273,355 | = | 0.0% |
| Reserves | 13 | €488,988 | €559,587 | +€70,599 | +14.4% |
| Non-distributable reserves | 130/1 | €27,335 | €27,335 | = | 0.0% |
| Legal reserve | 130 | €27,335 | €27,335 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,364 | €106,262 | -€8,103 | -7.1% |
| Distributable reserves | 133 | €347,289 | €425,990 | +€78,701 | +22.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €37,812 | €35,111 | -€2,701 | -7.1% |
| Deferred taxes | 168 | €37,812 | €35,111 | -€2,701 | -7.1% |
| Amounts payable | 17/49 | €112,184 | €77,940 | -€34,244 | -30.5% |
| Amounts payable after more than one year | 17 | €2,096 | €2,096 | = | 0.0% |
| Other amounts payable | 178/9 | €2,096 | €2,096 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,088 | €75,844 | -€34,244 | -31.1% |
| Financial debts | 43 | €16,900 | €16,825 | -€75 | -0.4% |
| Credit institutions | 430/8 | €16,900 | €16,825 | -€75 | -0.4% |
| Trade debts | 44 | €3,462 | €12 | -€3,450 | -99.7% |
| Suppliers | 440/4 | €3,462 | €12 | -€3,450 | -99.7% |
| Taxes, remuneration and social security | 45 | €8,398 | €10,630 | +€2,232 | +26.6% |
| Taxes | 450/3 | €8,398 | €10,630 | +€2,232 | +26.6% |
| Other amounts payable | 47/48 | €81,327 | €48,376 | -€32,951 | -40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,429 | €47,526 | +€2,097 | +4.6% |
| Other operating charges | 640/8 | €23,058 | €23,781 | +€722 | +3.1% |
| Gross operating margin | 9900 | €185,472 | €235,513 | +€50,042 | +27.0% |
| Operating profit (loss) | 9901 | €116,984 | €164,206 | +€47,222 | +40.4% |
| Financial income | 75/76B | €3,197 | €364 | -€2,833 | -88.6% |
| Recurring financial income | 75 | €3,197 | €364 | -€2,833 | -88.6% |
| Financial charges | 65/66B | €2,011 | €1,129 | -€881 | -43.8% |
| Recurring financial charges | 65 | €2,011 | €1,129 | -€881 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €118,170 | €163,440 | +€45,270 | +38.3% |
| Transfer from deferred taxes | 780 | €2,701 | €8,103 | +€5,402 | +200% |
| Income taxes | 67/77 | €41,045 | €55,441 | +€14,397 | +35.1% |
| Profit (loss) for the period | 9904 | €79,827 | €116,102 | +€36,275 | +45.4% |
| Transfer from tax-exempt reserves | 789 | €8,103 | €2,701 | -€5,402 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €87,929 | €118,803 | +€30,874 | +35.1% |
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 21 October 2026 via checked.be.