Volt & 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.
Volt & Construct
Largest movements
- Receivables within one year -€99,548
down €99,548 (-47.9%), from €207,871 to €108,324
of which Trade receivables: -€94,842
- Cash +€43,260
up €43,260 (+281.7%), from €15,354 to €58,614
mainly Receivables within one year (+€99,548) and Depreciation (+€23,319)
- Stocks and contracts -€17,913
down €17,913 (-25.1%), from €71,375 to €53,462
of which Contracts in progress: -€19,544
- Trade debts -€75,784
down €75,784 (-54.3%), from €139,469 to €63,685
- Profit (loss) carried forward +€18,753
up €18,753 (+26.2%), from €71,494 to €90,247
- Current portion of long-term debt -€9,469
down €9,469 (-48.3%), from €19,598 to €10,129
- Tax, wage and social debts -€8,283
down €8,283 (-82.2%), from €10,080 to €1,797
- Gross operating margin -€28,295
down €28,295 (-35.5%), from €79,648 to €51,353
- Taxes -€6,383
down €6,383 (-55.1%), from €11,580 to €5,197
- Depreciation +€4,077
up €4,077 (+21.2%), from €19,242 to €23,319
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 | €351,070 | €278,986 | -€72,084 | -20.5% |
| Fixed assets | 21/28 | €54,286 | €58,482 | +€4,197 | +7.7% |
| Tangible fixed assets | 22/27 | €54,286 | €56,532 | +€2,247 | +4.1% |
| Plant, machinery and equipment | 23 | €12,262 | €16,224 | +€3,962 | +32.3% |
| Furniture and vehicles | 24 | €21,078 | €6,087 | -€14,991 | -71.1% |
| Leasing and similar rights | 25 | €20,946 | €34,221 | +€13,275 | +63.4% |
| Financial fixed assets | 28 | - | €1,950 | +€1,950 | |
| Current assets | 29/58 | €296,784 | €220,503 | -€76,281 | -25.7% |
| Stocks and contracts in progress | 3 | €71,375 | €53,462 | -€17,913 | -25.1% |
| Stocks | 30/36 | €41,732 | €43,363 | +€1,631 | +3.9% |
| Contracts in progress | 37 | €29,643 | €10,100 | -€19,544 | -65.9% |
| Amounts receivable within one year | 40/41 | €207,871 | €108,324 | -€99,548 | -47.9% |
| Trade receivables | 40 | €191,510 | €96,668 | -€94,842 | -49.5% |
| Other amounts receivable | 41 | €16,362 | €11,656 | -€4,706 | -28.8% |
| Cash at bank and in hand | 54/58 | €15,354 | €58,614 | +€43,260 | +281.7% |
| Deferred charges and accrued income | 490/1 | €2,183 | €103 | -€2,081 | -95.3% |
| Total equity and liabilities | 10/49 | €351,070 | €278,986 | -€72,084 | -20.5% |
| Equity | 10/15 | €73,494 | €92,247 | +€18,753 | +25.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,494 | €90,247 | +€18,753 | +26.2% |
| Amounts payable | 17/49 | €277,576 | €186,739 | -€90,838 | -32.7% |
| Amounts payable after more than one year | 17 | €14,038 | €13,820 | -€218 | -1.6% |
| Financial debts | 170/4 | €14,038 | €13,820 | -€218 | -1.6% |
| Amounts payable within one year | 42/48 | €262,476 | €172,286 | -€90,190 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €19,598 | €10,129 | -€9,469 | -48.3% |
| Trade debts | 44 | €139,469 | €63,685 | -€75,784 | -54.3% |
| Suppliers | 440/4 | €139,469 | €63,685 | -€75,784 | -54.3% |
| Taxes, remuneration and social security | 45 | €10,080 | €1,797 | -€8,283 | -82.2% |
| Taxes | 450/3 | €10,080 | €1,797 | -€8,283 | -82.2% |
| Other amounts payable | 47/48 | €93,329 | €96,676 | +€3,346 | +3.6% |
| Accrued charges and deferred income | 492/3 | €1,062 | €632 | -€430 | -40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,242 | €23,319 | +€4,077 | +21.2% |
| Other operating charges | 640/8 | €1,233 | €1,144 | -€88 | -7.2% |
| Gross operating margin | 9900 | €79,648 | €51,353 | -€28,295 | -35.5% |
| Operating profit (loss) | 9901 | €59,173 | €26,890 | -€32,283 | -54.6% |
| Financial income | 75/76B | €38 | €399 | +€361 | +947.5% |
| Recurring financial income | 75 | €38 | €399 | +€361 | +947.5% |
| Financial charges | 65/66B | €2,403 | €2,507 | +€103 | +4.3% |
| Recurring financial charges | 65 | €2,403 | €2,507 | +€103 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €56,808 | €24,783 | -€32,026 | -56.4% |
| Income taxes | 67/77 | €11,580 | €5,197 | -€6,383 | -55.1% |
| Profit (loss) for the period | 9904 | €45,229 | €19,586 | -€25,642 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,229 | €19,586 | -€25,642 | -56.7% |
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 6 October 2026 via checked.be.