VOLTS & WATTS: 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.
VOLTS & WATTS
Largest movements
- Receivables within one year +€74,643
up €74,643 (+143%), from €52,071 to €126,714
of which Other amounts receivable: +€96,946
- Tangible fixed assets +€36,934
up €36,934 (+66.5%), from €55,535 to €92,469
of which Plant, machinery and equipment: +€25,872
- Cash -€29,733
down €29,733 (-83.9%), from €35,439 to €5,706
mainly Receivables within one year (-€74,643) and Investment in fixed assets (net) (-€63,805)
- Deferred charges and accrued income +€21,174
new in 2025: €21,174
- Profit (loss) carried forward +€84,800
up €84,800 (+75.0%), from €113,072 to €197,872
- Debts after one year +€31,449
new in 2025: €31,449
- Trade debts -€14,481
no longer reported in 2025 (was €14,481)
- Gross operating margin +€149,306
up €149,306 (+72.1%), from €206,952 to €356,258
- Purchases and services -€116,090
down €116,090 (-50.7%), from €229,135 to €113,045
- Staff costs +€101,357
up €101,357 (+77.8%), from €130,284 to €231,641
- Turnover +€33,216
up €33,216 (+7.6%), from €436,087 to €469,303
- Taxes +€22,091
new in 2025: €22,091
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 | €143,045 | €246,063 | +€103,018 | +72.0% |
| Fixed assets | 21/28 | €55,535 | €92,469 | +€36,934 | +66.5% |
| Tangible fixed assets | 22/27 | €55,535 | €92,469 | +€36,934 | +66.5% |
| Plant, machinery and equipment | 23 | €897 | €26,769 | +€25,872 | +2,884% |
| Furniture and vehicles | 24 | €54,638 | €65,700 | +€11,062 | +20.2% |
| Current assets | 29/58 | €87,510 | €153,594 | +€66,084 | +75.5% |
| Amounts receivable within one year | 40/41 | €52,071 | €126,714 | +€74,643 | +143% |
| Trade receivables | 40 | €33,189 | €10,886 | -€22,303 | -67.2% |
| Other amounts receivable | 41 | €18,882 | €115,828 | +€96,946 | +513% |
| Cash at bank and in hand | 54/58 | €35,439 | €5,706 | -€29,733 | -83.9% |
| Deferred charges and accrued income | 490/1 | - | €21,174 | +€21,174 | |
| Total equity and liabilities | 10/49 | €143,045 | €246,063 | +€103,018 | +72.0% |
| Equity | 10/15 | €113,072 | €197,872 | +€84,800 | +75.0% |
| Profit (loss) carried forward | 14 | €113,072 | €197,872 | +€84,800 | +75.0% |
| Amounts payable | 17/49 | €29,973 | €48,191 | +€18,218 | +60.8% |
| Amounts payable after more than one year | 17 | - | €31,449 | +€31,449 | |
| Financial debts | 170/4 | - | €31,449 | +€31,449 | |
| Amounts payable within one year | 42/48 | €29,973 | €16,742 | -€13,231 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €15,492 | €16,742 | +€1,250 | +8.1% |
| Trade debts | 44 | €14,481 | - | -€14,481 | |
| Suppliers | 440/4 | €14,481 | - | -€14,481 | |
| Turnover | 70 | €436,087 | €469,303 | +€33,216 | +7.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €229,135 | €113,045 | -€116,090 | -50.7% |
| Remuneration, social security and pensions | 62 | €130,284 | €231,641 | +€101,357 | +77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,443 | €26,871 | +€12,428 | +86.0% |
| Other operating charges | 640/8 | €718 | €1,610 | +€892 | +124% |
| Gross operating margin | 9900 | €206,952 | €356,258 | +€149,306 | +72.1% |
| Operating profit (loss) | 9901 | €61,507 | €96,136 | +€34,629 | +56.3% |
| Financial income | 75/76B | - | €18,044 | +€18,044 | |
| Recurring financial income | 75 | - | €18,044 | +€18,044 | |
| Financial charges | 65/66B | - | €7,289 | +€7,289 | |
| Recurring financial charges | 65 | - | €7,289 | +€7,289 | |
| Profit (loss) for the period before taxes | 9903 | €61,507 | €106,891 | +€45,384 | +73.8% |
| Income taxes | 67/77 | - | €22,091 | +€22,091 | |
| Profit (loss) for the period | 9904 | €61,507 | €84,800 | +€23,293 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,507 | €84,800 | +€23,293 | +37.9% |
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 24 October 2026 via checked.be.