VOLUMEX: 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.
What changed
VOLUMEX
NACE 77.221, Rental and leasing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €2.5m-€298,234
Equity
€18.1m
2024 · €15.9m+€2.2m
Cash
€92,320
2024 · €207,209-€114,890
Balance sheet total
€23.1m
2024 · €29.2m-€6.2m
Largest movements
Assets
- Tangible fixed assets -€5.6m
down €5.6m (-22.2%), from €25.2m to €19.6m
of which Furniture and vehicles: -€5.5m
- Stocks and contracts -€430,528
down €430,528 (-43.0%), from €1.0m to €569,983
- Receivables within one year -€329,036
down €329,036 (-11.8%), from €2.8m to €2.4m
of which Other amounts receivable: -€835,823
- Current investments +€320,322
new in 2025: €320,322
Equity and liabilities
- Current portion of long-term debt -€4.2m
down €4.2m (-72.6%), from €5.8m to €1.6m
- Trade debts -€2.5m
down €2.5m (-46.8%), from €5.3m to €2.8m
- Reserves +€2.2m
up €2.2m (+14.8%), from €15.1m to €17.3m
of which Tax-exempt reserves: +€1.2m
- Debts after one year -€1.6m
no longer reported in 2025 (was €1.6m)
Income statement
- Gross operating margin -€351,483
down €351,483 (-2.6%), from €13.8m to €13.4m
- Taxes +€325,465
up €325,465 (+104%), from €311,506 to €636,971
- Write-downs -€201,945
down €201,945 (-61.2%), from €330,176 to €128,231
- Depreciation -€144,076
down €144,076 (-1.5%), from €9.5m to €9.4m
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.
Result 2024
€2.5m
Gross operating margin
-€351,483
Staff costs
-€19,091
Depreciation
+€144,076
Write-downs
+€201,945
Other operating charges
-€46,797
Other operating items
+€168,609
Financial income
+€15,622
Financial charges
-€85,650
Taxes
-€325,465
Result 2025
€2.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.7m
Investment
-€4.1m
Financing
-€5.7m
Cash 2024
€207,209
From operations (derived)
+€9.7m
Net result for the year
+€2.2m
Depreciation
+€9.4m
Stocks and contracts
+€430,528
Receivables within one year
+€329,036
Trade debts
-€2.5m
Tax, wage and social debts
+€47,396
Other debts
-€183,951
Accrued charges and deferred income
-€25,224
Investment (derived)
-€4.1m
Investment in fixed assets (net)
-€3.8m
Current investments
-€320,322
Financing
-€5.7m
Debts after one year
-€1.6m
Current portion of long-term debt
-€4.2m
Cash 2025
€92,320
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,247,835 | €23,096,583 | -€6.2m | -21.0% |
| Fixed assets | 21/28 | €25,262,857 | €19,665,738 | -€5.6m | -22.2% |
| Intangible fixed assets | 21 | €73,110 | €58,479 | -€14,631 | -20.0% |
| Tangible fixed assets | 22/27 | €25,189,342 | €19,606,854 | -€5.6m | -22.2% |
| Land and buildings | 22 | €77,952 | €65,397 | -€12,555 | -16.1% |
| Plant, machinery and equipment | 23 | €53,369 | €46,538 | -€6,830 | -12.8% |
| Furniture and vehicles | 24 | €24,958,555 | €19,414,746 | -€5.5m | -22.2% |
| Other tangible fixed assets | 26 | €99,467 | €80,173 | -€19,293 | -19.4% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €3,984,977 | €3,430,845 | -€554,132 | -13.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,000,511 | €569,983 | -€430,528 | -43.0% |
| Stocks | 30/36 | €1,000,511 | €569,983 | -€430,528 | -43.0% |
| Amounts receivable within one year | 40/41 | €2,777,257 | €2,448,221 | -€329,036 | -11.8% |
| Trade receivables | 40 | €1,927,918 | €2,434,705 | +€506,787 | +26.3% |
| Other amounts receivable | 41 | €849,339 | €13,516 | -€835,823 | -98.4% |
| Current investments | 50/53 | - | €320,322 | +€320,322 | |
| Cash at bank and in hand | 54/58 | €207,209 | €92,320 | -€114,890 | -55.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €29,247,835 | €23,096,583 | -€6.2m | -21.0% |
| Equity | 10/15 | €15,857,150 | €18,091,610 | +€2.2m | +14.1% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €15,107,150 | €17,341,610 | +€2.2m | +14.8% |
| Tax-exempt reserves | 132 | €1,394,521 | €2,547,853 | +€1.2m | +82.7% |
| Distributable reserves | 133 | €13,712,629 | €14,793,757 | +€1.1m | +7.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €13,390,684 | €5,004,974 | -€8.4m | -62.6% |
| Amounts payable after more than one year | 17 | €1,557,245 | - | -€1.6m | |
| Financial debts | 170/4 | €1,557,245 | - | -€1.6m | |
| Amounts payable within one year | 42/48 | €11,798,490 | €4,995,248 | -€6.8m | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €5,769,421 | €1,581,639 | -€4.2m | -72.6% |
| Trade debts | 44 | €5,293,121 | €2,814,217 | -€2.5m | -46.8% |
| Suppliers | 440/4 | €5,293,121 | €2,814,217 | -€2.5m | -46.8% |
| Taxes, remuneration and social security | 45 | €113,046 | €160,442 | +€47,396 | +41.9% |
| Taxes | 450/3 | €50,413 | €96,284 | +€45,871 | +91.0% |
| Remuneration and social security | 454/9 | €62,633 | €64,158 | +€1,525 | +2.4% |
| Other amounts payable | 47/48 | €622,902 | €438,951 | -€183,951 | -29.5% |
| Accrued charges and deferred income | 492/3 | €34,949 | €9,725 | -€25,224 | -72.2% |
| Non-recurring operating income | 76A | €1,786,888 | €1,899,793 | +€112,905 | +6.3% |
| Remuneration, social security and pensions | 62 | €400,746 | €419,837 | +€19,091 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,512,745 | €9,368,669 | -€144,076 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €330,176 | €128,231 | -€201,945 | -61.2% |
| Other operating charges | 640/8 | €246,539 | €293,336 | +€46,797 | +19.0% |
| Non-recurring operating charges | 66A | €456,705 | €288,097 | -€168,609 | -36.9% |
| Gross operating margin | 9900 | €13,766,559 | €13,415,077 | -€351,483 | -2.6% |
| Operating profit (loss) | 9901 | €2,819,648 | €2,916,907 | +€97,260 | +3.4% |
| Financial income | 75/76B | €50,858 | €66,480 | +€15,622 | +30.7% |
| Recurring financial income | 75 | €50,858 | €66,480 | +€15,622 | +30.7% |
| Financial charges | 65/66B | €26,306 | €111,956 | +€85,650 | +326% |
| Recurring financial charges | 65 | €26,306 | €111,956 | +€85,650 | +326% |
| Profit (loss) for the period before taxes | 9903 | €2,844,199 | €2,871,431 | +€27,231 | +1.0% |
| Income taxes | 67/77 | €311,506 | €636,971 | +€325,465 | +104% |
| Profit (loss) for the period | 9904 | €2,532,693 | €2,234,459 | -€298,234 | -11.8% |
| Transfer to tax-exempt reserves | 689 | €1,237,796 | €1,153,332 | -€84,464 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,294,897 | €1,081,127 | -€213,770 | -16.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.