VOLT: 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.
VOLT
Largest movements
- Cash +€77,071
up €77,071 (+186.8%), from €41,251 to €118,322
mainly Net result for the year (+€108,520) and Trade debts (+€57,265)
- Receivables within one year +€15,199
up €15,199 (+7.6%), from €199,731 to €214,929
of which Trade receivables: +€19,762
- Tangible fixed assets -€6,029
down €6,029 (-2.6%), from €232,015 to €225,986
of which Land and buildings: -€11,356
- Reserves +€66,462
up €66,462 (+26.9%), from €247,052 to €313,514
- Trade debts +€57,265
up €57,265 (+154.6%), from €37,042 to €94,306
- Debts after one year -€19,576
down €19,576 (-15.5%), from €126,661 to €107,085
- Tax, wage and social debts -€19,323
down €19,323 (-92.3%), from €20,933 to €1,611
- Short-term financial debts -€13,334
down €13,334 (-50.0%), from €26,667 to €13,333
- Taxes -€25,637
down €25,637 (-44.7%), from €57,310 to €31,673
- Gross operating margin -€15,946
down €15,946 (-8.3%), from €192,432 to €176,485
- Other operating charges +€14,527
up €14,527 (+558.6%), from €2,601 to €17,128
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 | €498,348 | €574,436 | +€76,088 | +15.3% |
| Fixed assets | 21/28 | €232,465 | €226,436 | -€6,029 | -2.6% |
| Tangible fixed assets | 22/27 | €232,015 | €225,986 | -€6,029 | -2.6% |
| Land and buildings | 22 | €229,716 | €218,360 | -€11,356 | -4.9% |
| Plant, machinery and equipment | 23 | €215 | - | -€215 | |
| Furniture and vehicles | 24 | €2,083 | €7,626 | +€5,542 | +266.0% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €265,883 | €348,000 | +€82,117 | +30.9% |
| Stocks and contracts in progress | 3 | €15,623 | €10,647 | -€4,975 | -31.8% |
| Stocks | 30/36 | €15,623 | €10,647 | -€4,975 | -31.8% |
| Amounts receivable within one year | 40/41 | €199,731 | €214,929 | +€15,199 | +7.6% |
| Trade receivables | 40 | €165,321 | €185,083 | +€19,762 | +12.0% |
| Other amounts receivable | 41 | €34,410 | €29,847 | -€4,563 | -13.3% |
| Cash at bank and in hand | 54/58 | €41,251 | €118,322 | +€77,071 | +186.8% |
| Deferred charges and accrued income | 490/1 | €9,278 | €4,101 | -€5,177 | -55.8% |
| Total equity and liabilities | 10/49 | €498,348 | €574,436 | +€76,088 | +15.3% |
| Equity | 10/15 | €265,652 | €332,114 | +€66,462 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €247,052 | €313,514 | +€66,462 | +26.9% |
| Distributable reserves | 133 | €247,052 | €313,514 | +€66,462 | +26.9% |
| Amounts payable | 17/49 | €232,695 | €242,322 | +€9,626 | +4.1% |
| Amounts payable after more than one year | 17 | €126,661 | €107,085 | -€19,576 | -15.5% |
| Financial debts | 170/4 | €126,661 | €107,085 | -€19,576 | -15.5% |
| Amounts payable within one year | 42/48 | €106,034 | €135,237 | +€29,202 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €19,004 | €19,576 | +€572 | +3.0% |
| Financial debts | 43 | €26,667 | €13,333 | -€13,334 | -50.0% |
| Credit institutions | 430/8 | €26,667 | €13,333 | -€13,334 | -50.0% |
| Trade debts | 44 | €37,042 | €94,306 | +€57,265 | +154.6% |
| Suppliers | 440/4 | €37,042 | €94,306 | +€57,265 | +154.6% |
| Taxes, remuneration and social security | 45 | €20,933 | €1,611 | -€19,323 | -92.3% |
| Taxes | 450/3 | €20,933 | €1,611 | -€19,323 | -92.3% |
| Other amounts payable | 47/48 | €2,389 | €6,411 | +€4,022 | +168.3% |
| Remuneration, social security and pensions | 62 | €1,541 | €569 | -€972 | -63.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,393 | €13,108 | +€715 | +5.8% |
| Other operating charges | 640/8 | €2,601 | €17,128 | +€14,527 | +558.6% |
| Gross operating margin | 9900 | €192,432 | €176,485 | -€15,946 | -8.3% |
| Operating profit (loss) | 9901 | €175,897 | €145,680 | -€30,217 | -17.2% |
| Financial income | 75/76B | €2,483 | €1,248 | -€1,235 | -49.7% |
| Recurring financial income | 75 | €2,483 | €1,248 | -€1,235 | -49.7% |
| Financial charges | 65/66B | €7,762 | €6,736 | -€1,026 | -13.2% |
| Recurring financial charges | 65 | €7,762 | €6,736 | -€1,026 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €170,618 | €140,192 | -€30,425 | -17.8% |
| Income taxes | 67/77 | €57,310 | €31,673 | -€25,637 | -44.7% |
| Profit (loss) for the period | 9904 | €113,308 | €108,520 | -€4,788 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €113,308 | €108,520 | -€4,788 | -4.2% |
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.