VOLGAT: 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.
VOLGAT
Largest movements
- Tangible fixed assets +€24,587
up €24,587 (+94.4%), from €26,052 to €50,639
of which Furniture and vehicles: +€25,416
- Receivables within one year -€20,378
down €20,378 (-8.1%), from €250,451 to €230,073
of which Trade receivables: -€10,284
- Trade debts +€47,068
up €47,068 (+33.6%), from €139,916 to €186,984
- Profit (loss) carried forward -€39,850
down €39,850 (-76.2%), from €52,266 to €12,415
- Other debts -€27,003
down €27,003 (-57.8%), from €46,685 to €19,682
- Debts after one year +€12,166
new in 2025: €12,166
- Current portion of long-term debt +€9,916
new in 2025: €9,916
- Gross operating margin -€95,256
down €95,256, from €65,480 to -€29,776
- Taxes -€14,490
no longer reported in 2025 (was €14,490)
- Other operating charges -€3,909
down €3,909 (-58.7%), from €6,660 to €2,751
- Depreciation -€809
down €809 (-10.6%), from €7,654 to €6,845
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 | €278,027 | €281,773 | +€3,746 | +1.3% |
| Fixed assets | 21/28 | €27,112 | €51,699 | +€24,587 | +90.7% |
| Tangible fixed assets | 22/27 | €26,052 | €50,639 | +€24,587 | +94.4% |
| Plant, machinery and equipment | 23 | €8,419 | €7,590 | -€829 | -9.8% |
| Furniture and vehicles | 24 | €17,633 | €43,049 | +€25,416 | +144% |
| Financial fixed assets | 28 | €1,060 | €1,060 | = | 0.0% |
| Current assets | 29/58 | €250,915 | €230,074 | -€20,840 | -8.3% |
| Amounts receivable within one year | 40/41 | €250,451 | €230,073 | -€20,378 | -8.1% |
| Trade receivables | 40 | €235,636 | €225,353 | -€10,284 | -4.4% |
| Other amounts receivable | 41 | €14,814 | €4,720 | -€10,094 | -68.1% |
| Cash at bank and in hand | 54/58 | €464 | €1 | -€463 | -99.7% |
| Total equity and liabilities | 10/49 | €278,027 | €281,773 | +€3,746 | +1.3% |
| Equity | 10/15 | €70,882 | €31,032 | -€39,850 | -56.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17 | €17 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17 | €17 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17 | €17 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,266 | €12,415 | -€39,850 | -76.2% |
| Amounts payable | 17/49 | €207,144 | €250,741 | +€43,597 | +21.0% |
| Amounts payable after more than one year | 17 | - | €12,166 | +€12,166 | |
| Financial debts | 170/4 | - | €12,166 | +€12,166 | |
| Amounts payable within one year | 42/48 | €207,144 | €238,575 | +€31,431 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,916 | +€9,916 | |
| Financial debts | 43 | - | €89 | +€89 | |
| Credit institutions | 430/8 | - | €89 | +€89 | |
| Trade debts | 44 | €139,916 | €186,984 | +€47,068 | +33.6% |
| Suppliers | 440/4 | €139,916 | €186,984 | +€47,068 | +33.6% |
| Taxes, remuneration and social security | 45 | €20,543 | €21,904 | +€1,361 | +6.6% |
| Taxes | 450/3 | €20,543 | €18,021 | -€2,522 | -12.3% |
| Remuneration and social security | 454/9 | - | €3,883 | +€3,883 | |
| Other amounts payable | 47/48 | €46,685 | €19,682 | -€27,003 | -57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,654 | €6,845 | -€809 | -10.6% |
| Other operating charges | 640/8 | €6,660 | €2,751 | -€3,909 | -58.7% |
| Gross operating margin | 9900 | €65,480 | -€29,776 | -€95,256 | |
| Operating profit (loss) | 9901 | €51,166 | -€39,372 | -€90,538 | |
| Financial income | 75/76B | €1 | €308 | +€307 | +24,750% |
| Recurring financial income | 75 | €1 | €308 | +€307 | +24,750% |
| Financial charges | 65/66B | €569 | €786 | +€217 | +38.1% |
| Recurring financial charges | 65 | €569 | €786 | +€217 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €50,598 | -€39,850 | -€90,449 | |
| Income taxes | 67/77 | €14,490 | - | -€14,490 | |
| Profit (loss) for the period | 9904 | €36,109 | -€39,850 | -€75,959 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,109 | -€39,850 | -€75,959 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.