VOLT - ART: 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.
VOLT - ART
Largest movements
- Tangible fixed assets -€103,833
down €103,833 (-8.5%), from €1.2m to €1.1m
of which Land and buildings: -€82,780
- Cash +€24,210
up €24,210 (+226.7%), from €10,680 to €34,890
mainly Depreciation (+€102,199) and Trade debts (+€1,702)
- Revaluation surpluses -€86,245
down €86,245 (-7.9%), from €1.1m to €1.0m
- Reserves +€86,245
up €86,245 (+10.0%), from €862,422 to €948,667
of which Distributable reserves: +€86,245
- Profit (loss) carried forward -€55,164
down €55,164 (-5.5%), from -€1.0m to -€1.1m
- Current portion of long-term debt -€13,660
down €13,660 (-100.0%), from €13,660 to €0
- Debts after one year -€12,750
down €12,750 (-5.0%), from €256,995 to €244,245
of which Other amounts payable: -€6,594
- Depreciation -€17,553
down €17,553 (-14.7%), from €119,752 to €102,199
- Gross operating margin -€9,034
down €9,034 (-10.3%), from €87,905 to €78,872
- Financial charges +€3,154
up €3,154 (+82.2%), from €3,837 to €6,991
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 | €1,237,895 | €1,158,304 | -€79,591 | -6.4% |
| Fixed assets | 21/28 | €1,226,093 | €1,122,260 | -€103,833 | -8.5% |
| Tangible fixed assets | 22/27 | €1,225,574 | €1,121,741 | -€103,833 | -8.5% |
| Land and buildings | 22 | €1,177,594 | €1,094,814 | -€82,780 | -7.0% |
| Plant, machinery and equipment | 23 | €30,490 | €26,928 | -€3,563 | -11.7% |
| Furniture and vehicles | 24 | €17,490 | €0 | -€17,490 | -100.0% |
| Financial fixed assets | 28 | €519 | €519 | = | 0.0% |
| Current assets | 29/58 | €11,803 | €36,044 | +€24,242 | +205.4% |
| Cash at bank and in hand | 54/58 | €10,680 | €34,890 | +€24,210 | +226.7% |
| Deferred charges and accrued income | 490/1 | €1,123 | €1,154 | +€31 | +2.8% |
| Total equity and liabilities | 10/49 | €1,237,895 | €1,158,304 | -€79,591 | -6.4% |
| Equity | 10/15 | €967,127 | €911,964 | -€55,164 | -5.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €1,089,647 | €1,003,402 | -€86,245 | -7.9% |
| Reserves | 13 | €862,422 | €948,667 | +€86,245 | +10.0% |
| Tax-exempt reserves | 132 | €5,210 | €5,210 | = | 0.0% |
| Distributable reserves | 133 | €857,212 | €943,457 | +€86,245 | +10.1% |
| Profit (loss) carried forward | 14 | -€1,003,533 | -€1,058,697 | -€55,164 | -5.5% |
| Amounts payable | 17/49 | €270,768 | €246,340 | -€24,428 | -9.0% |
| Amounts payable after more than one year | 17 | €256,995 | €244,245 | -€12,750 | -5.0% |
| Financial debts | 170/4 | €6,156 | €0 | -€6,156 | -100.0% |
| Other amounts payable | 178/9 | €250,838 | €244,245 | -€6,594 | -2.6% |
| Amounts payable within one year | 42/48 | €13,773 | €2,096 | -€11,677 | -84.8% |
| Current portion of amounts payable after more than one year | 42 | €13,660 | €0 | -€13,660 | -100.0% |
| Trade debts | 44 | €31 | €1,733 | +€1,702 | +5408.9% |
| Suppliers | 440/4 | €31 | €1,733 | +€1,702 | +5408.9% |
| Taxes, remuneration and social security | 45 | €82 | €363 | +€281 | +344.6% |
| Taxes | 450/3 | €82 | €363 | +€281 | +344.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,752 | €102,199 | -€17,553 | -14.7% |
| Other operating charges | 640/8 | €6,676 | €7,539 | +€864 | +12.9% |
| Non-recurring operating charges | 66A | - | €17,490 | +€17,490 | |
| Gross operating margin | 9900 | €87,905 | €78,872 | -€9,034 | -10.3% |
| Operating profit (loss) | 9901 | -€38,522 | -€48,357 | -€9,835 | -25.5% |
| Financial income | 75/76B | - | €547 | +€547 | |
| Recurring financial income | 75 | - | €547 | +€547 | |
| Financial charges | 65/66B | €3,837 | €6,991 | +€3,154 | +82.2% |
| Recurring financial charges | 65 | €3,837 | €6,991 | +€3,154 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | -€42,359 | -€54,801 | -€12,442 | -29.4% |
| Income taxes | 67/77 | €82 | €363 | +€281 | +344.6% |
| Profit (loss) for the period | 9904 | -€42,440 | -€55,164 | -€12,723 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,440 | -€55,164 | -€12,723 | -30.0% |
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 9 October 2026 via checked.be.