VOLLON: 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.
VOLLON
Largest movements
- Tangible fixed assets +€232,378
up €232,378 (+17.6%), from €1.3m to €1.6m
of which Furniture and vehicles: +€168,995
- Cash -€34,293
down €34,293 (-27.5%), from €124,839 to €90,546
mainly Investment in fixed assets (net) (-€338,175) and Trade debts (-€11,958)
- Reserves +€99,335
up €99,335 (+44.7%), from €222,289 to €321,624
of which Distributable reserves: +€99,335
- Short-term financial debts +€49,372
up €49,372 (+37.7%), from €131,061 to €180,433
- Debts after one year +€47,451
up €47,451 (+5.6%), from €851,550 to €899,001
- Gross operating margin +€62,547
up €62,547 (+24.3%), from €257,766 to €320,313
- Depreciation +€39,422
up €39,422 (+59.4%), from €66,375 to €105,798
- Financial charges -€7,773
down €7,773 (-23.5%), from €33,072 to €25,299
- Taxes +€4,979
up €4,979 (+17.4%), from €28,659 to €33,638
- Staff costs +€3,277
up €3,277 (+6.7%), from €49,073 to €52,350
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 | €1,586,401 | €1,780,467 | +€194,066 | +12.2% |
| Fixed assets | 21/28 | €1,320,450 | €1,552,827 | +€232,378 | +17.6% |
| Tangible fixed assets | 22/27 | €1,320,450 | €1,552,827 | +€232,378 | +17.6% |
| Land and buildings | 22 | €840,431 | €832,286 | -€8,145 | -1.0% |
| Plant, machinery and equipment | 23 | €166,042 | €237,570 | +€71,528 | +43.1% |
| Furniture and vehicles | 24 | €313,976 | €482,972 | +€168,995 | +53.8% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Current assets | 29/58 | €265,951 | €227,640 | -€38,312 | -14.4% |
| Stocks and contracts in progress | 3 | €29,020 | €19,357 | -€9,663 | -33.3% |
| Stocks | 30/36 | €29,020 | €19,357 | -€9,663 | -33.3% |
| Amounts receivable within one year | 40/41 | €111,948 | €108,162 | -€3,785 | -3.4% |
| Trade receivables | 40 | €111,948 | €108,162 | -€3,785 | -3.4% |
| Cash at bank and in hand | 54/58 | €124,839 | €90,546 | -€34,293 | -27.5% |
| Deferred charges and accrued income | 490/1 | €145 | €9,574 | +€9,429 | +6,522% |
| Total equity and liabilities | 10/49 | €1,586,401 | €1,780,467 | +€194,066 | +12.2% |
| Equity | 10/15 | €228,489 | €327,824 | +€99,335 | +43.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €222,289 | €321,624 | +€99,335 | +44.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €220,429 | €319,764 | +€99,335 | +45.1% |
| Amounts payable | 17/49 | €1,357,912 | €1,452,643 | +€94,731 | +7.0% |
| Amounts payable after more than one year | 17 | €851,550 | €899,001 | +€47,451 | +5.6% |
| Financial debts | 170/4 | €851,550 | €899,001 | +€47,451 | +5.6% |
| Amounts payable within one year | 42/48 | €506,363 | €553,642 | +€47,280 | +9.3% |
| Financial debts | 43 | €131,061 | €180,433 | +€49,372 | +37.7% |
| Credit institutions | 430/8 | €131,061 | €180,433 | +€49,372 | +37.7% |
| Trade debts | 44 | €56,020 | €44,062 | -€11,958 | -21.3% |
| Suppliers | 440/4 | €56,020 | €44,062 | -€11,958 | -21.3% |
| Taxes, remuneration and social security | 45 | €32,965 | €39,981 | +€7,015 | +21.3% |
| Taxes | 450/3 | €28,404 | €30,668 | +€2,264 | +8.0% |
| Remuneration and social security | 454/9 | €4,561 | €9,313 | +€4,752 | +104% |
| Other amounts payable | 47/48 | €286,316 | €289,167 | +€2,850 | +1.0% |
| Non-recurring operating income | 76A | - | €31,000 | +€31,000 | |
| Remuneration, social security and pensions | 62 | €49,073 | €52,350 | +€3,277 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,375 | €105,798 | +€39,422 | +59.4% |
| Other operating charges | 640/8 | €3,853 | €3,919 | +€65 | +1.7% |
| Gross operating margin | 9900 | €257,766 | €320,313 | +€62,547 | +24.3% |
| Operating profit (loss) | 9901 | €138,464 | €158,247 | +€19,783 | +14.3% |
| Financial income | 75/76B | €0 | €25 | +€25 | |
| Recurring financial income | 75 | €0 | €25 | +€25 | |
| Financial charges | 65/66B | €33,072 | €25,299 | -€7,773 | -23.5% |
| Recurring financial charges | 65 | €33,072 | €25,299 | -€7,773 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €105,392 | €132,972 | +€27,581 | +26.2% |
| Income taxes | 67/77 | €28,659 | €33,638 | +€4,979 | +17.4% |
| Profit (loss) for the period | 9904 | €76,733 | €99,335 | +€22,602 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,733 | €99,335 | +€22,602 | +29.5% |
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 18 October 2026 via checked.be.