VOLENTES: 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.
VOLENTES
Largest movements
- Receivables within one year +€80,246
up €80,246 (+98.4%), from €81,564 to €161,810
of which Other amounts receivable: +€71,271
- Cash +€23,373
up €23,373 (+52.3%), from €44,731 to €68,104
mainly Net result for the year (+€106,879) and Short-term financial debts (+€23,697)
- Tangible fixed assets -€11,533
down €11,533 (-8.7%), from €132,480 to €120,947
of which Plant, machinery and equipment: -€12,966
- Reserves +€106,800
up €106,800 (+75.6%), from €141,360 to €248,160
of which Distributable reserves: +€106,800
- Other debts -€45,900
down €45,900 (-100%), from €45,900 to €0
- Short-term financial debts +€23,697
up €23,697, from €0 to €23,697
- Trade debts +€10,973
up €10,973 (+70.9%), from €15,474 to €26,447
of which Suppliers: +€10,973
- Tax, wage and social debts -€3,817
down €3,817 (-7.6%), from €50,514 to €46,698
- Gross operating margin +€76,489
up €76,489 (+79.9%), from €95,739 to €172,228
- Taxes +€20,261
up €20,261 (+77.2%), from €26,254 to €46,515
- Depreciation +€2,961
up €2,961 (+21.5%), from €13,754 to €16,715
- Financial income +€2,150
up €2,150 (+69.2%), from €3,107 to €5,257
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 | €259,678 | €351,511 | +€91,833 | +35.4% |
| Fixed assets | 21/28 | €132,501 | €120,968 | -€11,533 | -8.7% |
| Tangible fixed assets | 22/27 | €132,480 | €120,947 | -€11,533 | -8.7% |
| Plant, machinery and equipment | 23 | €129,456 | €116,489 | -€12,966 | -10.0% |
| Furniture and vehicles | 24 | €3,024 | €2,933 | -€91 | -3.0% |
| Assets under construction and advance payments | 27 | - | €1,525 | +€1,525 | |
| Financial fixed assets | 28 | €21 | €21 | = | 0.0% |
| Current assets | 29/58 | €127,177 | €230,543 | +€103,365 | +81.3% |
| Amounts receivable within one year | 40/41 | €81,564 | €161,810 | +€80,246 | +98.4% |
| Trade receivables | 40 | €25,752 | €34,727 | +€8,975 | +34.9% |
| Other amounts receivable | 41 | €55,812 | €127,083 | +€71,271 | +128% |
| Cash at bank and in hand | 54/58 | €44,731 | €68,104 | +€23,373 | +52.3% |
| Deferred charges and accrued income | 490/1 | €883 | €629 | -€254 | -28.7% |
| Total equity and liabilities | 10/49 | €259,678 | €351,511 | +€91,833 | +35.4% |
| Equity | 10/15 | €147,790 | €254,669 | +€106,879 | +72.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €141,360 | €248,160 | +€106,800 | +75.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €141,360 | €248,160 | +€106,800 | +75.6% |
| Profit (loss) carried forward | 14 | €230 | €309 | +€79 | +34.2% |
| Amounts payable | 17/49 | €111,888 | €96,842 | -€15,046 | -13.4% |
| Amounts payable within one year | 42/48 | €111,888 | €96,842 | -€15,046 | -13.4% |
| Financial debts | 43 | €0 | €23,697 | +€23,697 | |
| Credit institutions | 430/8 | €0 | €23,697 | +€23,697 | |
| Trade debts | 44 | €15,474 | €26,447 | +€10,973 | +70.9% |
| Suppliers | 440/4 | €15,474 | €26,447 | +€10,973 | +70.9% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €50,514 | €46,698 | -€3,817 | -7.6% |
| Taxes | 450/3 | €50,514 | €46,698 | -€3,817 | -7.6% |
| Other amounts payable | 47/48 | €45,900 | €0 | -€45,900 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,754 | €16,715 | +€2,961 | +21.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,728 | €3,770 | +€43 | +1.1% |
| Gross operating margin | 9900 | €95,739 | €172,228 | +€76,489 | +79.9% |
| Operating profit (loss) | 9901 | €78,258 | €151,742 | +€73,485 | +93.9% |
| Financial income | 75/76B | €3,107 | €5,257 | +€2,150 | +69.2% |
| Recurring financial income | 75 | €3,107 | €5,257 | +€2,150 | +69.2% |
| Financial charges | 65/66B | €1,961 | €3,606 | +€1,645 | +83.9% |
| Recurring financial charges | 65 | €1,961 | €3,606 | +€1,645 | +83.9% |
| Profit (loss) for the period before taxes | 9903 | €79,404 | €153,393 | +€73,990 | +93.2% |
| Income taxes | 67/77 | €26,254 | €46,515 | +€20,261 | +77.2% |
| Profit (loss) for the period | 9904 | €53,150 | €106,879 | +€53,729 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €53,150 | €106,879 | +€53,729 | +101% |
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 28 October 2026 via checked.be.