VOLPI: 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.
VOLPI
Largest movements
- Tangible fixed assets +€64,197
up €64,197 (+322%), from €19,930 to €84,126
of which Furniture and vehicles: +€66,796
- Receivables within one year -€25,737
down €25,737 (-99.6%), from €25,834 to €97
of which Trade receivables: -€23,675
- Cash -€11,741
down €11,741 (-99.6%), from €11,791 to €50
mainly Investment in fixed assets (net) (-€80,176) and Net result for the year (-€30,848)
- Receivables after one year +€2,030
up €2,030 (+2.5%), from €81,996 to €84,026
- Debts after one year +€48,263
up €48,263 (+3,950%), from €1,222 to €49,485
- Profit (loss) carried forward -€44,678
no longer reported in 2024 (was €44,678)
- Current portion of long-term debt +€13,883
up €13,883 (+480%), from €2,891 to €16,773
- Reserves +€13,831
up €13,831 (+25.6%), from €54,065 to €67,895
of which Distributable reserves: +€13,831
- Tax, wage and social debts -€9,094
down €9,094 (-41.1%), from €22,148 to €13,054
of which Taxes: -€5,075
- Gross operating margin -€47,475
down €47,475, from €38,479 to -€8,996
- Depreciation +€12,852
up €12,852 (+411%), from €3,128 to €15,980
- Taxes -€7,491
down €7,491 (-95.0%), from €7,886 to €396
- Financial charges +€1,653
up €1,653 (+166%), from €993 to €2,645
- Other operating charges +€1,424
up €1,424 (+41.4%), from €3,437 to €4,861
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.
Derived cash bridge
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 | €171,741 | €201,215 | +€29,474 | +17.2% |
| Fixed assets | 21/28 | €52,120 | €116,316 | +€64,197 | +123% |
| Tangible fixed assets | 22/27 | €19,930 | €84,126 | +€64,197 | +322% |
| Furniture and vehicles | 24 | €2,932 | €69,728 | +€66,796 | +2,278% |
| Other tangible fixed assets | 26 | €16,998 | €14,398 | -€2,600 | -15.3% |
| Financial fixed assets | 28 | €32,190 | €32,190 | = | 0.0% |
| Current assets | 29/58 | €119,621 | €84,899 | -€34,722 | -29.0% |
| Amounts receivable after more than one year | 29 | €81,996 | €84,026 | +€2,030 | +2.5% |
| Other amounts receivable | 291 | €81,996 | €84,026 | +€2,030 | +2.5% |
| Amounts receivable within one year | 40/41 | €25,834 | €97 | -€25,737 | -99.6% |
| Trade receivables | 40 | €23,675 | - | -€23,675 | |
| Other amounts receivable | 41 | €2,159 | €97 | -€2,062 | -95.5% |
| Cash at bank and in hand | 54/58 | €11,791 | €50 | -€11,741 | -99.6% |
| Deferred charges and accrued income | 490/1 | - | €726 | +€726 | |
| Total equity and liabilities | 10/49 | €171,741 | €201,215 | +€29,474 | +17.2% |
| Equity | 10/15 | €117,343 | €86,495 | -€30,848 | -26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,065 | €67,895 | +€13,831 | +25.6% |
| 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 | €52,205 | €66,035 | +€13,831 | +26.5% |
| Profit (loss) carried forward | 14 | €44,678 | - | -€44,678 | |
| Amounts payable | 17/49 | €54,398 | €114,720 | +€60,322 | +111% |
| Amounts payable after more than one year | 17 | €1,222 | €49,485 | +€48,263 | +3,950% |
| Financial debts | 170/4 | €1,222 | €49,485 | +€48,263 | +3,950% |
| Amounts payable within one year | 42/48 | €53,176 | €65,235 | +€12,059 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €2,891 | €16,773 | +€13,883 | +480% |
| Trade debts | 44 | €7,072 | €7,769 | +€697 | +9.9% |
| Suppliers | 440/4 | €7,072 | €7,769 | +€697 | +9.9% |
| Taxes, remuneration and social security | 45 | €22,148 | €13,054 | -€9,094 | -41.1% |
| Taxes | 450/3 | €18,129 | €13,054 | -€5,075 | -28.0% |
| Remuneration and social security | 454/9 | €4,019 | - | -€4,019 | |
| Other amounts payable | 47/48 | €21,065 | €27,639 | +€6,573 | +31.2% |
| Non-recurring operating income | 76A | €34,549 | €25,437 | -€9,112 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,128 | €15,980 | +€12,852 | +411% |
| Other operating charges | 640/8 | €3,437 | €4,861 | +€1,424 | +41.4% |
| Gross operating margin | 9900 | €38,479 | -€8,996 | -€47,475 | |
| Operating profit (loss) | 9901 | €31,915 | -€29,837 | -€61,752 | |
| Financial income | 75/76B | €2,069 | €2,030 | -€39 | -1.9% |
| Recurring financial income | 75 | €2,069 | €2,030 | -€39 | -1.9% |
| Financial charges | 65/66B | €993 | €2,645 | +€1,653 | +166% |
| Recurring financial charges | 65 | €993 | €2,645 | +€1,653 | +166% |
| Profit (loss) for the period before taxes | 9903 | €32,991 | -€30,452 | -€63,443 | |
| Income taxes | 67/77 | €7,886 | €396 | -€7,491 | -95.0% |
| Profit (loss) for the period | 9904 | €25,105 | -€30,848 | -€55,953 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,105 | -€30,848 | -€55,953 |
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 15 October 2026 via checked.be.