VOLPE: 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.
VOLPE
Largest movements
- Receivables within one year +€153,348
up €153,348 (+794.8%), from €19,295 to €172,643
of which Other amounts receivable: +€152,649
- Tangible fixed assets -€19,457
down €19,457 (-18.1%), from €107,261 to €87,805
of which Plant, machinery and equipment: -€13,593
- Cash -€13,341
down €13,341 (-40.1%), from €33,259 to €19,918
mainly Receivables within one year (-€153,348) and Investment in fixed assets (net) (-€9,064)
- Trade debts +€124,755
up €124,755 (+314.4%), from €39,676 to €164,431
- Debts after one year +€8,507
new in 2024: €8,507
- Other debts -€8,401
down €8,401 (-100.0%), from €8,401 to €0
- Tax, wage and social debts -€5,556
down €5,556 (-32.1%), from €17,309 to €11,753
of which Taxes: -€6,279
- Gross operating margin -€67,420
down €67,420 (-32.2%), from €209,656 to €142,236
- Other operating charges +€17,253
up €17,253 (+198.8%), from €8,681 to €25,934
- Depreciation -€5,281
down €5,281 (-15.5%), from €34,020 to €28,739
- Taxes -€4,631
down €4,631 (-100.0%), from €4,631 to €0
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €173,685 | €294,267 | +€120,582 | +69.4% |
| Fixed assets | 21/28 | €109,729 | €90,054 | -€19,675 | -17.9% |
| Intangible fixed assets | 21 | €891 | €673 | -€218 | -24.5% |
| Tangible fixed assets | 22/27 | €107,261 | €87,805 | -€19,457 | -18.1% |
| Plant, machinery and equipment | 23 | €65,400 | €51,807 | -€13,593 | -20.8% |
| Furniture and vehicles | 24 | €12,952 | €14,197 | +€1,244 | +9.6% |
| Other tangible fixed assets | 26 | €28,909 | €21,801 | -€7,108 | -24.6% |
| Financial fixed assets | 28 | €1,577 | €1,577 | = | 0.0% |
| Current assets | 29/58 | €63,956 | €204,213 | +€140,257 | +219.3% |
| Stocks and contracts in progress | 3 | €7,305 | €6,180 | -€1,125 | -15.4% |
| Stocks | 30/36 | €7,305 | €6,180 | -€1,125 | -15.4% |
| Amounts receivable within one year | 40/41 | €19,295 | €172,643 | +€153,348 | +794.8% |
| Trade receivables | 40 | €520 | €1,220 | +€700 | +134.7% |
| Other amounts receivable | 41 | €18,775 | €171,424 | +€152,649 | +813.0% |
| Cash at bank and in hand | 54/58 | €33,259 | €19,918 | -€13,341 | -40.1% |
| Deferred charges and accrued income | 490/1 | €4,096 | €5,472 | +€1,376 | +33.6% |
| Total equity and liabilities | 10/49 | €173,685 | €294,267 | +€120,582 | +69.4% |
| Equity | 10/15 | €107,428 | €106,126 | -€1,302 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,828 | €87,526 | -€1,302 | -1.5% |
| Distributable reserves | 133 | €88,828 | €87,526 | -€1,302 | -1.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €66,257 | €188,141 | +€121,884 | +184.0% |
| Amounts payable after more than one year | 17 | - | €8,507 | +€8,507 | |
| Financial debts | 170/4 | - | €8,507 | +€8,507 | |
| Amounts payable within one year | 42/48 | €66,257 | €179,634 | +€113,377 | +171.1% |
| Current portion of amounts payable after more than one year | 42 | €871 | €3,450 | +€2,579 | +296.1% |
| Trade debts | 44 | €39,676 | €164,431 | +€124,755 | +314.4% |
| Suppliers | 440/4 | €39,676 | €164,431 | +€124,755 | +314.4% |
| Taxes, remuneration and social security | 45 | €17,309 | €11,753 | -€5,556 | -32.1% |
| Taxes | 450/3 | €7,257 | €978 | -€6,279 | -86.5% |
| Remuneration and social security | 454/9 | €10,052 | €10,775 | +€723 | +7.2% |
| Other amounts payable | 47/48 | €8,401 | €0 | -€8,401 | -100.0% |
| Non-recurring operating income | 76A | €1,991 | €33,987 | +€31,996 | +1607.1% |
| Remuneration, social security and pensions | 62 | €81,094 | €81,969 | +€875 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,020 | €28,739 | -€5,281 | -15.5% |
| Other operating charges | 640/8 | €8,681 | €25,934 | +€17,253 | +198.8% |
| Gross operating margin | 9900 | €209,656 | €142,236 | -€67,420 | -32.2% |
| Operating profit (loss) | 9901 | €85,862 | €5,594 | -€80,268 | -93.5% |
| Financial income | 75/76B | €451 | €166 | -€285 | -63.2% |
| Recurring financial income | 75 | €451 | €166 | -€285 | -63.2% |
| Financial charges | 65/66B | €6,912 | €7,062 | +€150 | +2.2% |
| Recurring financial charges | 65 | €6,912 | €7,062 | +€150 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €79,400 | -€1,302 | -€80,702 | |
| Income taxes | 67/77 | €4,631 | €0 | -€4,631 | -100.0% |
| Profit (loss) for the period | 9904 | €74,770 | -€1,302 | -€76,071 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,770 | -€1,302 | -€76,071 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.