VOLPE CONSTRUCT: what changed
Two fiscal 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 CONSTRUCT
Largest movements
- Receivables within one year +€285,394
up €285,394 (+329.5%), from €86,619 to €372,013
of which Trade receivables: +€216,006
- Cash +€76,773
up €76,773 (+40407000.0%), from €0 to €76,773
mainly Trade debts (+€298,508) and Net result for the year (+€49,414)
- Tangible fixed assets +€5,450
up €5,450 (+51.8%), from €10,529 to €15,980
of which Plant, machinery and equipment: +€9,508
- Trade debts +€298,508
up €298,508 (+494.3%), from €60,390 to €358,898
- Profit (loss) carried forward +€49,414
up €49,414 (+685.9%), from €7,204 to €56,618
- Tax, wage and social debts +€17,370
up €17,370 (+526.0%), from €3,302 to €20,672
of which Taxes: +€12,101
- Gross operating margin +€76,393
up €76,393 (+622.3%), from €12,276 to €88,668
- Staff costs +€20,990
new in 2025: €20,990
- Taxes +€11,997
up €11,997 (+732.5%), from €1,638 to €13,634
- Other operating charges -€1,670
no longer reported in 2025 (was €1,670)
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.
Cash bridge derived
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 | €97,149 | €464,766 | +€367,617 | +378.4% |
| Fixed assets | 21/28 | €10,529 | €15,980 | +€5,450 | +51.8% |
| Tangible fixed assets | 22/27 | €10,529 | €15,980 | +€5,450 | +51.8% |
| Plant, machinery and equipment | 23 | - | €9,508 | +€9,508 | |
| Furniture and vehicles | 24 | €10,529 | €6,472 | -€4,057 | -38.5% |
| Current assets | 29/58 | €86,620 | €448,786 | +€362,167 | +418.1% |
| Amounts receivable within one year | 40/41 | €86,619 | €372,013 | +€285,394 | +329.5% |
| Trade receivables | 40 | €86,619 | €302,625 | +€216,006 | +249.4% |
| Other amounts receivable | 41 | - | €69,388 | +€69,388 | |
| Cash at bank and in hand | 54/58 | €0 | €76,773 | +€76,773 | +40407000.0% |
| Total equity and liabilities | 10/49 | €97,149 | €464,766 | +€367,617 | +378.4% |
| Equity | 10/15 | €8,404 | €57,818 | +€49,414 | +588.0% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,204 | €56,618 | +€49,414 | +685.9% |
| Amounts payable | 17/49 | €88,745 | €406,948 | +€318,203 | +358.6% |
| Amounts payable within one year | 42/48 | €88,745 | €406,948 | +€318,203 | +358.6% |
| Trade debts | 44 | €60,390 | €358,898 | +€298,508 | +494.3% |
| Suppliers | 440/4 | €60,390 | €358,898 | +€298,508 | +494.3% |
| Taxes, remuneration and social security | 45 | €3,302 | €20,672 | +€17,370 | +526.0% |
| Taxes | 450/3 | €3,302 | €15,403 | +€12,101 | +366.4% |
| Remuneration and social security | 454/9 | - | €5,269 | +€5,269 | |
| Other amounts payable | 47/48 | €25,053 | €27,378 | +€2,325 | +9.3% |
| Remuneration, social security and pensions | 62 | - | €20,990 | +€20,990 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,057 | €4,110 | +€52 | +1.3% |
| Other operating charges | 640/8 | €1,670 | - | -€1,670 | |
| Gross operating margin | 9900 | €12,276 | €88,668 | +€76,393 | +622.3% |
| Operating profit (loss) | 9901 | €6,549 | €63,569 | +€57,020 | +870.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +33.3% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +33.3% |
| Financial charges | 65/66B | €454 | €520 | +€67 | +14.7% |
| Recurring financial charges | 65 | €454 | €520 | +€67 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €6,095 | €63,048 | +€56,954 | +934.5% |
| Income taxes | 67/77 | €1,638 | €13,634 | +€11,997 | +732.5% |
| Profit (loss) for the period | 9904 | €4,457 | €49,414 | +€44,957 | +1008.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,457 | €49,414 | +€44,957 | +1008.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.