VOLTECO: 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.
VOLTECO
Largest movements
- Current investments -€758,565
no longer reported in 2025 (was €758,565)
- Receivables within one year -€280,909
down €280,909 (-73.3%), from €383,054 to €102,144
of which Trade receivables: -€250,165
- Cash +€186,814
up €186,814 (+27.8%), from €671,982 to €858,796
mainly Current investments (+€758,565) and Receivables within one year (+€280,909)
- Tangible fixed assets -€111,829
down €111,829 (-12.2%), from €913,569 to €801,740
of which Furniture and vehicles: -€69,217
- Other debts -€1.3m
down €1.3m (-99.4%), from €1.3m to €7,706
- Profit (loss) carried forward +€215,530
up €215,530 (+20.3%), from €1.1m to €1.3m
- Accrued charges and deferred income +€74,101
up €74,101 (+57.6%), from €128,554 to €202,655
- Debts after one year -€45,814
down €45,814 (-9.6%), from €478,194 to €432,381
- Gross operating margin -€243,922
down €243,922 (-19.8%), from €1.2m to €988,717
- Taxes -€48,781
down €48,781 (-33.6%), from €145,077 to €96,297
- Staff costs +€27,249
up €27,249 (+5.4%), from €500,508 to €527,757
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 | €3,100,941 | €2,117,499 | -€983,442 | -31.7% |
| Fixed assets | 21/28 | €1,011,598 | €884,129 | -€127,469 | -12.6% |
| Intangible fixed assets | 21 | €4,369 | €2,929 | -€1,440 | -33.0% |
| Tangible fixed assets | 22/27 | €913,569 | €801,740 | -€111,829 | -12.2% |
| Land and buildings | 22 | €702,508 | €667,136 | -€35,372 | -5.0% |
| Plant, machinery and equipment | 23 | €23,807 | €16,567 | -€7,240 | -30.4% |
| Furniture and vehicles | 24 | €187,254 | €118,037 | -€69,217 | -37.0% |
| Financial fixed assets | 28 | €93,660 | €79,460 | -€14,200 | -15.2% |
| Current assets | 29/58 | €2,089,343 | €1,233,370 | -€855,973 | -41.0% |
| Stocks and contracts in progress | 3 | €270,365 | €254,302 | -€16,063 | -5.9% |
| Stocks | 30/36 | €270,365 | €254,302 | -€16,063 | -5.9% |
| Amounts receivable within one year | 40/41 | €383,054 | €102,144 | -€280,909 | -73.3% |
| Trade receivables | 40 | €327,468 | €77,303 | -€250,165 | -76.4% |
| Other amounts receivable | 41 | €55,586 | €24,842 | -€30,744 | -55.3% |
| Current investments | 50/53 | €758,565 | - | -€758,565 | |
| Cash at bank and in hand | 54/58 | €671,982 | €858,796 | +€186,814 | +27.8% |
| Deferred charges and accrued income | 490/1 | €5,377 | €18,127 | +€12,750 | +237.1% |
| Total equity and liabilities | 10/49 | €3,100,941 | €2,117,499 | -€983,442 | -31.7% |
| Equity | 10/15 | €1,081,745 | €1,297,275 | +€215,530 | +19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €1,061,285 | €1,276,815 | +€215,530 | +20.3% |
| Amounts payable | 17/49 | €2,019,196 | €820,223 | -€1.2m | -59.4% |
| Amounts payable after more than one year | 17 | €478,194 | €432,381 | -€45,814 | -9.6% |
| Financial debts | 170/4 | €478,194 | €432,381 | -€45,814 | -9.6% |
| Amounts payable within one year | 42/48 | €1,412,447 | €185,188 | -€1.2m | -86.9% |
| Current portion of amounts payable after more than one year | 42 | €53,365 | €45,814 | -€7,551 | -14.1% |
| Financial debts | 43 | - | €2,400 | +€2,400 | |
| Credit institutions | 430/8 | - | €2,400 | +€2,400 | |
| Trade debts | 44 | €38,609 | €65,320 | +€26,712 | +69.2% |
| Suppliers | 440/4 | €38,609 | €65,320 | +€26,712 | +69.2% |
| Advances received on contracts in progress | 46 | €20,915 | €2,500 | -€18,415 | -88.0% |
| Taxes, remuneration and social security | 45 | €35,780 | €61,448 | +€25,668 | +71.7% |
| Taxes | 450/3 | €3,600 | €25,694 | +€22,094 | +613.7% |
| Remuneration and social security | 454/9 | €32,180 | €35,753 | +€3,573 | +11.1% |
| Other amounts payable | 47/48 | €1,263,779 | €7,706 | -€1.3m | -99.4% |
| Accrued charges and deferred income | 492/3 | €128,554 | €202,655 | +€74,101 | +57.6% |
| Non-recurring operating income | 76A | €5,632 | - | -€5,632 | |
| Remuneration, social security and pensions | 62 | €500,508 | €527,757 | +€27,249 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,991 | €128,187 | -€6,804 | -5.0% |
| Other operating charges | 640/8 | €6,845 | €6,488 | -€356 | -5.2% |
| Non-recurring operating charges | 66A | - | €28 | +€28 | |
| Gross operating margin | 9900 | €1,232,639 | €988,717 | -€243,922 | -19.8% |
| Operating profit (loss) | 9901 | €590,296 | €326,257 | -€264,039 | -44.7% |
| Financial income | 75/76B | €8,165 | €10,325 | +€2,161 | +26.5% |
| Recurring financial income | 75 | €8,165 | €10,325 | +€2,161 | +26.5% |
| Financial charges | 65/66B | €24,360 | €17,120 | -€7,240 | -29.7% |
| Recurring financial charges | 65 | €24,360 | €17,120 | -€7,240 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €574,100 | €319,462 | -€254,638 | -44.4% |
| Income taxes | 67/77 | €145,077 | €96,297 | -€48,781 | -33.6% |
| Profit (loss) for the period | 9904 | €429,023 | €223,166 | -€205,857 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €429,023 | €223,166 | -€205,857 | -48.0% |
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 4 October 2026 via checked.be.