VOLTA: 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.
VOLTA
Largest movements
- Cash +€48,887
up €48,887 (+194.9%), from €25,082 to €73,969
mainly Short-term financial debts (+€133,158) and Receivables within one year (+€42,750)
- Receivables within one year -€42,750
down €42,750 (-19.6%), from €217,752 to €175,003
of which Trade receivables: -€43,154
- Formation expenses -€10,455
down €10,455 (-27.8%), from €37,601 to €27,146
- Tangible fixed assets -€10,377
down €10,377 (-35.1%), from €29,603 to €19,226
of which Furniture and vehicles: -€8,784
- Deferred charges and accrued income +€6,011
up €6,011 (+59.4%), from €10,125 to €16,137
- Profit (loss) carried forward -€163,176
down €163,176, from €17,123 to -€146,053
- Short-term financial debts +€133,158
up €133,158 (+298.5%), from €44,606 to €177,764
- Trade debts +€27,508
up €27,508 (+49.6%), from €55,494 to €83,001
- Accrued charges and deferred income -€22,410
down €22,410 (-100.0%), from €22,410 to €0
- Tax, wage and social debts +€18,152
up €18,152 (+20.4%), from €89,021 to €107,172
of which Remuneration and social security: +€9,956
- Gross operating margin -€188,938
down €188,938 (-29.1%), from €649,352 to €460,414
- Staff costs -€163,300
down €163,300 (-21.5%), from €759,668 to €596,368
- Depreciation +€10,887
up €10,887 (+147.3%), from €7,392 to €18,279
- Write-downs -€9,701
down €9,701 (-100.0%), from €9,701 to €0
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 | €322,064 | €313,380 | -€8,684 | -2.7% |
| Formation expenses | 20 | €37,601 | €27,146 | -€10,455 | -27.8% |
| Fixed assets | 21/28 | €31,503 | €21,126 | -€10,377 | -32.9% |
| Tangible fixed assets | 22/27 | €29,603 | €19,226 | -€10,377 | -35.1% |
| Furniture and vehicles | 24 | €15,812 | €7,028 | -€8,784 | -55.6% |
| Other tangible fixed assets | 26 | €13,792 | €12,198 | -€1,594 | -11.6% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €252,959 | €265,108 | +€12,149 | +4.8% |
| Amounts receivable within one year | 40/41 | €217,752 | €175,003 | -€42,750 | -19.6% |
| Trade receivables | 40 | €207,900 | €164,746 | -€43,154 | -20.8% |
| Other amounts receivable | 41 | €9,852 | €10,256 | +€404 | +4.1% |
| Cash at bank and in hand | 54/58 | €25,082 | €73,969 | +€48,887 | +194.9% |
| Deferred charges and accrued income | 490/1 | €10,125 | €16,137 | +€6,011 | +59.4% |
| Total equity and liabilities | 10/49 | €322,064 | €313,380 | -€8,684 | -2.7% |
| Equity | 10/15 | €103,535 | -€59,641 | -€163,176 | |
| Contributions | 10/11 | €37,861 | €37,861 | = | 0.0% |
| Reserves | 13 | €48,550 | €48,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,786 | €3,786 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,786 | €3,786 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,764 | €44,764 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,123 | -€146,053 | -€163,176 | |
| Provisions and deferred taxes | 16 | €4,095 | €4,095 | = | 0.0% |
| Deferred taxes | 168 | €4,095 | €4,095 | = | 0.0% |
| Amounts payable | 17/49 | €214,434 | €368,927 | +€154,492 | +72.0% |
| Amounts payable within one year | 42/48 | €192,024 | €368,927 | +€176,902 | +92.1% |
| Current portion of amounts payable after more than one year | 42 | €2,904 | €0 | -€2,904 | -100.0% |
| Financial debts | 43 | €44,606 | €177,764 | +€133,158 | +298.5% |
| Credit institutions | 430/8 | €44,606 | €177,764 | +€133,158 | +298.5% |
| Trade debts | 44 | €55,494 | €83,001 | +€27,508 | +49.6% |
| Suppliers | 440/4 | €55,494 | €83,001 | +€27,508 | +49.6% |
| Taxes, remuneration and social security | 45 | €89,021 | €107,172 | +€18,152 | +20.4% |
| Taxes | 450/3 | €14,374 | €22,570 | +€8,196 | +57.0% |
| Remuneration and social security | 454/9 | €74,647 | €84,603 | +€9,956 | +13.3% |
| Other amounts payable | 47/48 | - | €988 | +€988 | |
| Accrued charges and deferred income | 492/3 | €22,410 | €0 | -€22,410 | -100.0% |
| Non-recurring operating income | 76A | €4,240 | €0 | -€4,240 | -100.0% |
| Remuneration, social security and pensions | 62 | €759,668 | €596,368 | -€163,300 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,392 | €18,279 | +€10,887 | +147.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,701 | €0 | -€9,701 | -100.0% |
| Other operating charges | 640/8 | €1,913 | €2,069 | +€156 | +8.2% |
| Non-recurring operating charges | 66A | €828 | €0 | -€828 | -100.0% |
| Gross operating margin | 9900 | €649,352 | €460,414 | -€188,938 | -29.1% |
| Operating profit (loss) | 9901 | -€130,150 | -€156,302 | -€26,152 | -20.1% |
| Financial income | 75/76B | €716 | €632 | -€84 | -11.7% |
| Recurring financial income | 75 | €716 | €632 | -€84 | -11.7% |
| Financial charges | 65/66B | €5,951 | €7,296 | +€1,345 | +22.6% |
| Recurring financial charges | 65 | €5,951 | €7,296 | +€1,345 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | -€135,384 | -€162,965 | -€27,581 | -20.4% |
| Income taxes | 67/77 | €272 | €211 | -€61 | -22.5% |
| Profit (loss) for the period | 9904 | -€135,656 | -€163,176 | -€27,520 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€135,656 | -€163,176 | -€27,520 | -20.3% |
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.