VULCAIN ENGINEERING: 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.
VULCAIN ENGINEERING
Largest movements
- Receivables within one year +€374,321
up €374,321 (+8.8%), from €4.2m to €4.6m
of which Trade receivables: +€504,425
- Cash +€229,045
up €229,045 (+28.0%), from €818,104 to €1.0m
mainly Net result for the year (+€505,464) and Trade debts (+€351,414)
- Tangible fixed assets +€161,784
up €161,784 (+92.9%), from €174,115 to €335,899
of which Plant, machinery and equipment: +€187,362
- Reserves +€1.9m
up €1.9m (+101490.4%), from €1,860 to €1.9m
of which Distributable reserves: +€1.9m
- Contributions -€1.1m
down €1.1m (-88.3%), from €1.2m to €142,600
- Trade debts +€351,414
up €351,414 (+33.4%), from €1.1m to €1.4m
- Profit (loss) carried forward -€302,177
down €302,177 (-37.4%), from €807,641 to €505,464
- Other debts -€127,371
down €127,371 (-11.7%), from €1.1m to €957,600
- Goods and materials +€1.2m
up €1.2m (+46.8%), from €2.6m to €3.9m
- Staff costs -€783,411
down €783,411 (-8.3%), from €9.4m to €8.6m
- Turnover +€613,296
up €613,296 (+4.0%), from €15.5m to €16.1m
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 | €5,352,419 | €6,140,690 | +€788,271 | +14.7% |
| Fixed assets | 21/28 | €214,250 | €374,098 | +€159,848 | +74.6% |
| Intangible fixed assets | 21 | €1,936 | - | -€1,936 | |
| Tangible fixed assets | 22/27 | €174,115 | €335,899 | +€161,784 | +92.9% |
| Plant, machinery and equipment | 23 | €30,862 | €218,224 | +€187,362 | +607.1% |
| Furniture and vehicles | 24 | €143,253 | €117,675 | -€25,578 | -17.9% |
| Financial fixed assets | 28 | €38,199 | €38,199 | = | 0.0% |
| Other financial fixed assets | 284/8 | €38,199 | €38,199 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €38,199 | €38,199 | = | 0.0% |
| Current assets | 29/58 | €5,138,169 | €5,766,592 | +€628,423 | +12.2% |
| Amounts receivable within one year | 40/41 | €4,234,358 | €4,608,679 | +€374,321 | +8.8% |
| Trade receivables | 40 | €3,894,786 | €4,399,211 | +€504,425 | +13.0% |
| Other amounts receivable | 41 | €339,572 | €209,468 | -€130,104 | -38.3% |
| Cash at bank and in hand | 54/58 | €818,104 | €1,047,149 | +€229,045 | +28.0% |
| Deferred charges and accrued income | 490/1 | €85,707 | €110,764 | +€25,057 | +29.2% |
| Total equity and liabilities | 10/49 | €5,352,419 | €6,140,690 | +€788,271 | +14.7% |
| Equity | 10/15 | €2,032,181 | €2,537,645 | +€505,464 | +24.9% |
| Contributions | 10/11 | €1,222,680 | €142,600 | -€1.1m | -88.3% |
| Reserves | 13 | €1,860 | €1,889,581 | +€1.9m | +101490.4% |
| Non-distributable reserves | 130/1 | €1,860 | €14,260 | +€12,400 | +666.7% |
| Reserves not available under the articles | 1311 | €1,860 | €14,260 | +€12,400 | +666.7% |
| Distributable reserves | 133 | - | €1,875,321 | +€1.9m | |
| Profit (loss) carried forward | 14 | €807,641 | €505,464 | -€302,177 | -37.4% |
| Amounts payable | 17/49 | €3,320,238 | €3,603,045 | +€282,807 | +8.5% |
| Amounts payable within one year | 42/48 | €3,282,388 | €3,522,304 | +€239,916 | +7.3% |
| Trade debts | 44 | €1,052,573 | €1,403,987 | +€351,414 | +33.4% |
| Suppliers | 440/4 | €1,052,573 | €1,403,987 | +€351,414 | +33.4% |
| Taxes, remuneration and social security | 45 | €1,144,844 | €1,160,717 | +€15,873 | +1.4% |
| Taxes | 450/3 | €441,933 | €244,676 | -€197,257 | -44.6% |
| Remuneration and social security | 454/9 | €702,911 | €916,041 | +€213,130 | +30.3% |
| Other amounts payable | 47/48 | €1,084,971 | €957,600 | -€127,371 | -11.7% |
| Accrued charges and deferred income | 492/3 | €37,850 | €80,741 | +€42,891 | +113.3% |
| Operating income | 70/76A | €16,017,996 | €16,733,872 | +€715,876 | +4.5% |
| Turnover | 70 | €15,521,948 | €16,135,244 | +€613,296 | +4.0% |
| Other operating income | 74 | €380,136 | €487,721 | +€107,585 | +28.3% |
| Non-recurring operating income | 76A | €115,912 | €110,907 | -€5,005 | -4.3% |
| Operating charges | 60/66A | €15,639,250 | €15,801,160 | +€161,910 | +1.0% |
| Goods for resale, raw materials and consumables | 60 | €2,640,210 | €3,876,281 | +€1.2m | +46.8% |
| Purchases | 600/8 | €2,640,210 | €3,876,281 | +€1.2m | +46.8% |
| Services and other goods | 61 | €3,183,776 | €3,121,654 | -€62,122 | -2.0% |
| Remuneration, social security and pensions | 62 | €9,429,898 | €8,646,487 | -€783,411 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,304 | €110,961 | -€2,343 | -2.1% |
| Other operating charges | 640/8 | €6,311 | €45,777 | +€39,466 | +625.4% |
| Non-recurring operating charges | 66A | €265,751 | - | -€265,751 | |
| Operating profit (loss) | 9901 | €378,746 | €932,712 | +€553,966 | +146.3% |
| Financial income | 75/76B | €78,366 | €172 | -€78,194 | -99.8% |
| Recurring financial income | 75 | €78,366 | €172 | -€78,194 | -99.8% |
| Other financial income | 752/9 | €78,366 | €172 | -€78,194 | -99.8% |
| Financial charges | 65/66B | €58,745 | €35,614 | -€23,131 | -39.4% |
| Recurring financial charges | 65 | €58,745 | €35,614 | -€23,131 | -39.4% |
| Other financial charges | 652/9 | €58,745 | €35,614 | -€23,131 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €398,367 | €897,270 | +€498,903 | +125.2% |
| Income taxes | 67/77 | €389,669 | €391,806 | +€2,137 | +0.5% |
| Taxes | 670/3 | €389,669 | €391,806 | +€2,137 | +0.5% |
| Profit (loss) for the period | 9904 | €8,698 | €505,464 | +€496,766 | +5711.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,698 | €505,464 | +€496,766 | +5711.3% |
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 8 October 2026 via checked.be.