VOLTRON: 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.
VOLTRON
Largest movements
- Receivables within one year -€143,730
down €143,730 (-97.3%), from €147,744 to €4,014
- Cash +€141,464
up €141,464 (+3567.4%), from €3,965 to €145,430
mainly Receivables within one year (+€143,730) and Stocks and contracts (+€18,876)
- Stocks and contracts -€18,876
down €18,876 (-21.9%), from €86,274 to €67,397
- Deferred charges and accrued income -€15,000
no longer reported in 2025 (was €15,000)
- Tangible fixed assets -€8,164
down €8,164 (-35.5%), from €22,992 to €14,828
- Trade debts -€23,250
down €23,250 (-69.7%), from €33,341 to €10,091
- Tax, wage and social debts -€10,648
down €10,648 (-29.3%), from €36,379 to €25,731
of which Taxes: -€10,418
- Profit (loss) carried forward -€7,617
down €7,617 (-68.1%), from -€11,186 to -€18,803
- Debts after one year -€7,590
no longer reported in 2025 (was €7,590)
- Accrued charges and deferred income +€7,030
new in 2025: €7,030
- Gross operating margin -€56,664
down €56,664 (-41.6%), from €136,308 to €79,644
- Write-downs -€26,182
down €26,182, from €16,521 to -€9,661
- Staff costs +€3,767
up €3,767 (+4.7%), from €80,679 to €84,445
- Financial charges -€1,407
down €1,407 (-28.3%), from €4,966 to €3,559
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 | €276,254 | €231,891 | -€44,362 | -16.1% |
| Fixed assets | 21/28 | €23,270 | €15,050 | -€8,220 | -35.3% |
| Intangible fixed assets | 21 | €279 | €223 | -€56 | -20.0% |
| Tangible fixed assets | 22/27 | €22,992 | €14,828 | -€8,164 | -35.5% |
| Furniture and vehicles | 24 | €22,992 | €14,828 | -€8,164 | -35.5% |
| Current assets | 29/58 | €252,983 | €216,841 | -€36,142 | -14.3% |
| Stocks and contracts in progress | 3 | €86,274 | €67,397 | -€18,876 | -21.9% |
| Stocks | 30/36 | €86,274 | €67,397 | -€18,876 | -21.9% |
| Amounts receivable within one year | 40/41 | €147,744 | €4,014 | -€143,730 | -97.3% |
| Trade receivables | 40 | €147,744 | €4,014 | -€143,730 | -97.3% |
| Cash at bank and in hand | 54/58 | €3,965 | €145,430 | +€141,464 | +3567.4% |
| Deferred charges and accrued income | 490/1 | €15,000 | - | -€15,000 | |
| Total equity and liabilities | 10/49 | €276,254 | €231,891 | -€44,362 | -16.1% |
| Equity | 10/15 | €189,066 | €181,450 | -€7,617 | -4.0% |
| Contributions | 10/11 | €198,600 | €198,600 | = | 0.0% |
| Reserves | 13 | €1,652 | €1,652 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,652 | €1,652 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,652 | €1,652 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,186 | -€18,803 | -€7,617 | -68.1% |
| Amounts payable | 17/49 | €87,187 | €50,442 | -€36,745 | -42.1% |
| Amounts payable after more than one year | 17 | €7,590 | - | -€7,590 | |
| Financial debts | 170/4 | €7,590 | - | -€7,590 | |
| Amounts payable within one year | 42/48 | €79,597 | €43,412 | -€36,185 | -45.5% |
| Current portion of amounts payable after more than one year | 42 | €9,878 | €7,590 | -€2,288 | -23.2% |
| Trade debts | 44 | €33,341 | €10,091 | -€23,250 | -69.7% |
| Suppliers | 440/4 | €33,341 | €10,091 | -€23,250 | -69.7% |
| Taxes, remuneration and social security | 45 | €36,379 | €25,731 | -€10,648 | -29.3% |
| Taxes | 450/3 | €25,954 | €15,536 | -€10,418 | -40.1% |
| Remuneration and social security | 454/9 | €10,425 | €10,195 | -€230 | -2.2% |
| Accrued charges and deferred income | 492/3 | - | €7,030 | +€7,030 | |
| Remuneration, social security and pensions | 62 | €80,679 | €84,445 | +€3,767 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,220 | €8,220 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,521 | -€9,661 | -€26,182 | |
| Other operating charges | 640/8 | €717 | €445 | -€272 | -37.9% |
| Gross operating margin | 9900 | €136,308 | €79,644 | -€56,664 | -41.6% |
| Operating profit (loss) | 9901 | €30,172 | -€3,805 | -€33,976 | |
| Financial income | 75/76B | €511 | €1,039 | +€528 | +103.4% |
| Recurring financial income | 75 | €511 | €1,039 | +€528 | +103.4% |
| Financial charges | 65/66B | €4,966 | €3,559 | -€1,407 | -28.3% |
| Recurring financial charges | 65 | €4,966 | €3,559 | -€1,407 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €25,717 | -€6,324 | -€32,041 | |
| Income taxes | 67/77 | €830 | €1,293 | +€463 | +55.8% |
| Profit (loss) for the period | 9904 | €24,887 | -€7,617 | -€32,504 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,887 | -€7,617 | -€32,504 |
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.