VOLSTOK: 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.
VOLSTOK
Largest movements
- Cash +€83,619
up €83,619 (+188.7%), from €44,313 to €127,932
mainly Other debts (+€79,658) and Accrued charges and deferred income (+€43,658)
- Deferred charges and accrued income +€21,373
up €21,373 (+179.0%), from €11,940 to €33,313
- Receivables within one year +€14,607
up €14,607 (+13.3%), from €109,697 to €124,303
of which Trade receivables: +€9,607
- Intangible fixed assets +€10,347
new in 2025: €10,347
- Tangible fixed assets -€6,087
down €6,087 (-51.0%), from €11,929 to €5,842
of which Assets under construction and advance payments: -€6,375
- Other debts +€79,658
up €79,658 (+152.9%), from €52,112 to €131,770
- Accrued charges and deferred income +€43,658
up €43,658 (+158.8%), from €27,499 to €71,156
- Profit (loss) carried forward +€22,895
up €22,895 (+11.5%), from -€199,457 to -€176,562
- Tax, wage and social debts -€14,299
down €14,299 (-36.2%), from €39,526 to €25,227
of which Taxes: -€9,414
- Trade debts -€4,173
down €4,173 (-3.8%), from €109,319 to €105,146
- Gross operating margin +€26,425
up €26,425 (+9.3%), from €284,577 to €311,002
- Staff costs +€14,908
up €14,908 (+6.0%), from €248,093 to €263,001
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 | €177,878 | €301,737 | +€123,859 | +69.6% |
| Fixed assets | 21/28 | €11,929 | €16,189 | +€4,260 | +35.7% |
| Intangible fixed assets | 21 | - | €10,347 | +€10,347 | |
| Tangible fixed assets | 22/27 | €11,929 | €5,842 | -€6,087 | -51.0% |
| Plant, machinery and equipment | 23 | €47 | €0 | -€47 | -100.0% |
| Furniture and vehicles | 24 | €5,507 | €5,842 | +€335 | +6.1% |
| Assets under construction and advance payments | 27 | €6,375 | €0 | -€6,375 | -100.0% |
| Current assets | 29/58 | €165,949 | €285,548 | +€119,599 | +72.1% |
| Amounts receivable within one year | 40/41 | €109,697 | €124,303 | +€14,607 | +13.3% |
| Trade receivables | 40 | €109,697 | €119,303 | +€9,607 | +8.8% |
| Other amounts receivable | 41 | €0 | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €44,313 | €127,932 | +€83,619 | +188.7% |
| Deferred charges and accrued income | 490/1 | €11,940 | €33,313 | +€21,373 | +179.0% |
| Total equity and liabilities | 10/49 | €177,878 | €301,737 | +€123,859 | +69.6% |
| Equity | 10/15 | -€177,457 | -€156,562 | +€20,895 | +11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €0 | -€2,000 | -100.0% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100.0% |
| Profit (loss) carried forward | 14 | -€199,457 | -€176,562 | +€22,895 | +11.5% |
| Amounts payable | 17/49 | €355,335 | €458,299 | +€102,964 | +29.0% |
| Amounts payable after more than one year | 17 | €126,880 | €125,000 | -€1,880 | -1.5% |
| Financial debts | 170/4 | €126,880 | €125,000 | -€1,880 | -1.5% |
| Amounts payable within one year | 42/48 | €200,957 | €262,143 | +€61,186 | +30.4% |
| Trade debts | 44 | €109,319 | €105,146 | -€4,173 | -3.8% |
| Suppliers | 440/4 | €109,319 | €105,146 | -€4,173 | -3.8% |
| Taxes, remuneration and social security | 45 | €39,526 | €25,227 | -€14,299 | -36.2% |
| Taxes | 450/3 | €14,921 | €5,507 | -€9,414 | -63.1% |
| Remuneration and social security | 454/9 | €24,605 | €19,719 | -€4,885 | -19.9% |
| Other amounts payable | 47/48 | €52,112 | €131,770 | +€79,658 | +152.9% |
| Accrued charges and deferred income | 492/3 | €27,499 | €71,156 | +€43,658 | +158.8% |
| Remuneration, social security and pensions | 62 | €248,093 | €263,001 | +€14,908 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,014 | €6,254 | +€240 | +4.0% |
| Other operating charges | 640/8 | €17,103 | €17,890 | +€787 | +4.6% |
| Gross operating margin | 9900 | €284,577 | €311,002 | +€26,425 | +9.3% |
| Operating profit (loss) | 9901 | €13,366 | €23,856 | +€10,491 | +78.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €2,412 | €2,962 | +€550 | +22.8% |
| Recurring financial charges | 65 | €2,412 | €2,962 | +€550 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €10,954 | €20,895 | +€9,941 | +90.8% |
| Profit (loss) for the period | 9904 | €10,954 | €20,895 | +€9,941 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,954 | €20,895 | +€9,941 | +90.8% |
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 12 October 2026 via checked.be.