VOLTANET: 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.
VOLTANET
Largest movements
- Tangible fixed assets -€60,876
down €60,876 (-68.9%), from €88,299 to €27,423
of which Furniture and vehicles: -€49,055
- Cash +€48,107
up €48,107 (+12,481%), from €385 to €48,492
mainly Advances received (+€70,592) and Receivables within one year (+€42,765)
- Receivables within one year -€42,765
down €42,765 (-9.6%), from €443,701 to €400,937
of which Other amounts receivable: -€22,534
- Trade debts -€96,208
down €96,208 (-64.5%), from €149,197 to €52,989
- Advances received +€70,592
up €70,592 (+53.4%), from €132,075 to €202,667
- Debts after one year -€19,410
down €19,410 (-89.9%), from €21,586 to €2,176
- Profit (loss) carried forward -€17,017
down €17,017 (-130%), from -€13,124 to -€30,141
- Current portion of long-term debt +€6,901
up €6,901 (+115%), from €6,022 to €12,924
- Depreciation -€40,091
down €40,091 (-64.2%), from €62,426 to €22,335
- Financial charges +€39,908
up €39,908 (+2,417%), from €1,651 to €41,560
of which Non-recurring financial charges: +€40,755
- Gross operating margin +€30,764
up €30,764 (+27.2%), from €113,075 to €143,839
- Staff costs -€27,648
down €27,648 (-31.9%), from €86,640 to €58,992
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.
Derived cash bridge
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 | €532,855 | €477,321 | -€55,534 | -10.4% |
| Fixed assets | 21/28 | €88,768 | €27,892 | -€60,876 | -68.6% |
| Tangible fixed assets | 22/27 | €88,299 | €27,423 | -€60,876 | -68.9% |
| Plant, machinery and equipment | 23 | €30,375 | €21,077 | -€9,299 | -30.6% |
| Furniture and vehicles | 24 | €53,899 | €4,845 | -€49,055 | -91.0% |
| Other tangible fixed assets | 26 | €4,025 | €1,502 | -€2,523 | -62.7% |
| Financial fixed assets | 28 | €469 | €469 | = | 0.0% |
| Current assets | 29/58 | €444,087 | €449,429 | +€5,342 | +1.2% |
| Amounts receivable within one year | 40/41 | €443,701 | €400,937 | -€42,765 | -9.6% |
| Trade receivables | 40 | €376,123 | €355,893 | -€20,230 | -5.4% |
| Other amounts receivable | 41 | €67,578 | €45,044 | -€22,534 | -33.3% |
| Cash at bank and in hand | 54/58 | €385 | €48,492 | +€48,107 | +12,481% |
| Total equity and liabilities | 10/49 | €532,855 | €477,321 | -€55,534 | -10.4% |
| Equity | 10/15 | €200,666 | €183,649 | -€17,017 | -8.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €201,390 | €201,390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €199,530 | €199,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,124 | -€30,141 | -€17,017 | -130% |
| Amounts payable | 17/49 | €332,189 | €293,672 | -€38,517 | -11.6% |
| Amounts payable after more than one year | 17 | €21,586 | €2,176 | -€19,410 | -89.9% |
| Financial debts | 170/4 | €21,586 | €2,176 | -€19,410 | -89.9% |
| Amounts payable within one year | 42/48 | €310,603 | €291,496 | -€19,108 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €6,022 | €12,924 | +€6,901 | +115% |
| Trade debts | 44 | €149,197 | €52,989 | -€96,208 | -64.5% |
| Suppliers | 440/4 | €149,197 | €52,989 | -€96,208 | -64.5% |
| Advances received on contracts in progress | 46 | €132,075 | €202,667 | +€70,592 | +53.4% |
| Taxes, remuneration and social security | 45 | €6,988 | €7,102 | +€115 | +1.6% |
| Taxes | 450/3 | €6,981 | €7,102 | +€122 | +1.7% |
| Remuneration and social security | 454/9 | €7 | - | -€7 | |
| Other amounts payable | 47/48 | €16,322 | €15,814 | -€507 | -3.1% |
| Non-recurring operating income | 76A | - | €1,734 | +€1,734 | |
| Remuneration, social security and pensions | 62 | €86,640 | €58,992 | -€27,648 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,426 | €22,335 | -€40,091 | -64.2% |
| Other operating charges | 640/8 | €2,157 | €1,269 | -€888 | -41.2% |
| Non-recurring operating charges | 66A | - | €37,444 | +€37,444 | |
| Gross operating margin | 9900 | €113,075 | €143,839 | +€30,764 | +27.2% |
| Operating profit (loss) | 9901 | -€38,148 | €23,798 | +€61,946 | |
| Financial income | 75/76B | €693 | €921 | +€228 | +32.9% |
| Recurring financial income | 75 | €693 | €921 | +€228 | +32.9% |
| Financial charges | 65/66B | €1,651 | €41,560 | +€39,908 | +2,417% |
| Recurring financial charges | 65 | €1,651 | €805 | -€846 | -51.3% |
| Non-recurring financial charges | 66B | - | €40,755 | +€40,755 | |
| Profit (loss) for the period before taxes | 9903 | -€39,106 | -€16,841 | +€22,265 | +56.9% |
| Income taxes | 67/77 | €170 | €176 | +€6 | +3.3% |
| Profit (loss) for the period | 9904 | -€39,277 | -€17,017 | +€22,260 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,277 | -€17,017 | +€22,260 | +56.7% |
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 17 October 2026 via checked.be.