Volksvermogen: what changed
What changed
Volksvermogen
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €1.9m+€78,191
Equity
€59.7m
2024 · €58.3m+€1.4m
Cash
€571,390
2024 · €1.7m-€1.1m
Balance sheet total
€62.1m
2024 · €60.9m+€1.1m
Largest movements
Assets
- Current investments +€4.3m
up €4.3m (+49.0%), from €8.8m to €13.2m
- Receivables within one year -€1.4m
down €1.4m (-87.7%), from €1.7m to €202,628
- Cash -€1.1m
down €1.1m (-65.9%), from €1.7m to €571,390
mainly Current investments (-€4.3m) and Contributions, distributions and other (-€600,000)
- Receivables after one year -€662,246
down €662,246 (-9.4%), from €7.0m to €6.4m
Equity and liabilities
- Reserves +€1.4m
up €1.4m (+2.9%), from €47.7m to €49.1m
of which Distributable reserves: +€1.4m
Income statement
- Financial charges +€306,656
up €306,656 (+277%), from €110,569 to €417,225
of which Non-recurring financial charges: +€784,674
- Provisions -€300,000
down €300,000, from €100,000 to -€200,000
- Taxes -€68,637
down €68,637 (-44.7%), from €153,631 to €84,995
- Gross operating margin +€59,383
up €59,383 (+13.7%), from -€433,113 to -€373,730
- Purchases and services -€39,027
down €39,027 (-7.3%), from €532,822 to €493,795
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.9m
Gross operating margin
+€59,383
Staff costs
-€16,449
Depreciation
+€5,990
Provisions
+€300,000
Other operating charges
-€5,307
Financial income
-€27,407
Financial charges
-€306,656
Taxes
+€68,637
Result 2025
€2.0m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4.1m
Investment
-€4.6m
Financing
-€600,000
Cash 2024
€1.7m
From operations (derived)
+€4.1m
Net result for the year
+€2.0m
Depreciation
+€95,615
Receivables after one year
+€662,246
Receivables within one year
+€1.4m
Deferred charges and accrued income
+€102,340
Provisions
-€200,000
Trade debts
+€6,004
Tax, wage and social debts
-€67,963
Accrued charges and deferred income
-€14,261
Investment (derived)
-€4.6m
Investment in fixed assets (net)
-€233,483
Current investments
-€4.3m
Financing
-€600,000
Contributions, distributions and other
-€600,000
Cash 2025
€571,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,946,201 | €62,092,197 | +€1.1m | +1.9% |
| Fixed assets | 21/28 | €41,393,856 | €41,531,723 | +€137,867 | +0.3% |
| Tangible fixed assets | 22/27 | €1,103,842 | €1,071,785 | -€32,057 | -2.9% |
| Land and buildings | 22 | €1,064,367 | €993,728 | -€70,639 | -6.6% |
| Plant, machinery and equipment | 23 | €2,985 | €3,448 | +€462 | +15.5% |
| Furniture and vehicles | 24 | €36,490 | €74,610 | +€38,119 | +104% |
| Financial fixed assets | 28 | €40,290,013 | €40,459,938 | +€169,924 | +0.4% |
| Current assets | 29/58 | €19,552,346 | €20,560,474 | +€1.0m | +5.2% |
| Amounts receivable after more than one year | 29 | €7,034,445 | €6,372,199 | -€662,246 | -9.4% |
| Other amounts receivable | 291 | €7,034,445 | €6,372,199 | -€662,246 | -9.4% |
| Amounts receivable within one year | 40/41 | €1,650,871 | €202,628 | -€1.4m | -87.7% |
| Other amounts receivable | 41 | €1,650,871 | €202,628 | -€1.4m | -87.7% |
| Current investments | 50/53 | €8,828,931 | €13,154,626 | +€4.3m | +49.0% |
| Cash at bank and in hand | 54/58 | €1,676,127 | €571,390 | -€1.1m | -65.9% |
| Deferred charges and accrued income | 490/1 | €361,972 | €259,632 | -€102,340 | -28.3% |
| Total equity and liabilities | 10/49 | €60,946,201 | €62,092,197 | +€1.1m | +1.9% |
| Equity | 10/15 | €58,309,580 | €59,731,796 | +€1.4m | +2.4% |
| Contributions | 10/11 | €10,000,000 | €10,000,000 | = | 0.0% |
| Capital | 10 | €10,000,000 | €10,000,000 | = | 0.0% |
| Issued capital | 100 | €10,000,000 | €10,000,000 | = | 0.0% |
| Reserves | 13 | €47,700,000 | €49,100,000 | +€1.4m | +2.9% |
| Non-distributable reserves | 130/1 | €1,000,000 | €1,000,000 | = | 0.0% |
| Legal reserve | 130 | €1,000,000 | €1,000,000 | = | 0.0% |
| Distributable reserves | 133 | €46,700,000 | €48,100,000 | +€1.4m | +3.0% |
| Profit (loss) carried forward | 14 | €609,580 | €631,796 | +€22,216 | +3.6% |
| Provisions and deferred taxes | 16 | €1,700,000 | €1,500,000 | -€200,000 | -11.8% |
| Provisions for liabilities and charges | 160/5 | €1,700,000 | €1,500,000 | -€200,000 | -11.8% |
| Other liabilities and charges | 164/5 | €1,700,000 | €1,500,000 | -€200,000 | -11.8% |
| Amounts payable | 17/49 | €936,621 | €860,401 | -€76,220 | -8.1% |
| Amounts payable within one year | 42/48 | €879,031 | €817,072 | -€61,959 | -7.0% |
| Trade debts | 44 | €129,925 | €135,929 | +€6,004 | +4.6% |
| Suppliers | 440/4 | €129,925 | €135,929 | +€6,004 | +4.6% |
| Taxes, remuneration and social security | 45 | €149,106 | €81,143 | -€67,963 | -45.6% |
| Taxes | 450/3 | €120,221 | €50,473 | -€69,748 | -58.0% |
| Remuneration and social security | 454/9 | €28,885 | €30,670 | +€1,785 | +6.2% |
| Other amounts payable | 47/48 | €600,000 | €600,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €57,590 | €43,330 | -€14,261 | -24.8% |
| Non-recurring operating income | 76A | €17,200 | €21,500 | +€4,300 | +25.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €532,822 | €493,795 | -€39,027 | -7.3% |
| Remuneration, social security and pensions | 62 | €194,162 | €210,611 | +€16,449 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,606 | €95,615 | -€5,990 | -5.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €100,000 | -€200,000 | -€300,000 | |
| Other operating charges | 640/8 | €80,145 | €85,453 | +€5,307 | +6.6% |
| Gross operating margin | 9900 | -€433,113 | -€373,730 | +€59,383 | +13.7% |
| Operating profit (loss) | 9901 | -€909,026 | -€565,409 | +€343,617 | +37.8% |
| Financial income | 75/76B | €3,117,252 | €3,089,845 | -€27,407 | -0.9% |
| Recurring financial income | 75 | €3,117,252 | €3,089,845 | -€27,407 | -0.9% |
| Financial charges | 65/66B | €110,569 | €417,225 | +€306,656 | +277% |
| Recurring financial charges | 65 | €95,243 | -€382,775 | -€478,018 | |
| Non-recurring financial charges | 66B | €15,326 | €800,000 | +€784,674 | +5,120% |
| Profit (loss) for the period before taxes | 9903 | €2,097,656 | €2,107,210 | +€9,554 | +0.5% |
| Income taxes | 67/77 | €153,631 | €84,995 | -€68,637 | -44.7% |
| Profit (loss) for the period | 9904 | €1,944,025 | €2,022,216 | +€78,191 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,944,025 | €2,022,216 | +€78,191 | +4.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.