VULCANALIA: 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.
VULCANALIA
Largest movements
- Tangible fixed assets +€81,023
up €81,023 (+72.7%), from €111,512 to €192,534
- Cash -€61,731
down €61,731 (-93.5%), from €66,022 to €4,291
mainly Investment in fixed assets (net) (-€91,822) and Trade debts (-€15,659)
- Other debts +€43,579
up €43,579 (+82.4%), from €52,875 to €96,453
- Trade debts -€15,659
down €15,659 (-98.6%), from €15,888 to €229
- Profit (loss) carried forward -€11,349
down €11,349 (-13.5%), from €84,020 to €72,671
- Gross operating margin -€149,944
down €149,944 (-94.9%), from €157,981 to €8,037
- Depreciation -€30,592
down €30,592 (-73.9%), from €41,392 to €10,800
- Taxes -€21,340
down €21,340 (-100.0%), from €21,340 to €0
- Financial charges +€4,840
up €4,840 (+3150.3%), from €154 to €4,993
- Other operating charges +€2,153
up €2,153 (+149.5%), from €1,440 to €3,594
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 | €179,123 | €197,138 | +€18,014 | +10.1% |
| Fixed assets | 21/28 | €111,512 | €192,534 | +€81,023 | +72.7% |
| Tangible fixed assets | 22/27 | €111,512 | €192,534 | +€81,023 | +72.7% |
| Land and buildings | 22 | €111,512 | €192,534 | +€81,023 | +72.7% |
| Current assets | 29/58 | €67,612 | €4,603 | -€63,008 | -93.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €66,022 | €4,291 | -€61,731 | -93.5% |
| Deferred charges and accrued income | 490/1 | €1,590 | €313 | -€1,277 | -80.3% |
| Total equity and liabilities | 10/49 | €179,123 | €197,138 | +€18,014 | +10.1% |
| Equity | 10/15 | €89,020 | €77,671 | -€11,349 | -12.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,020 | €72,671 | -€11,349 | -13.5% |
| Amounts payable | 17/49 | €90,103 | €119,467 | +€29,364 | +32.6% |
| Amounts payable within one year | 42/48 | €90,103 | €119,467 | +€29,364 | +32.6% |
| Trade debts | 44 | €15,888 | €229 | -€15,659 | -98.6% |
| Suppliers | 440/4 | €15,888 | €229 | -€15,659 | -98.6% |
| Taxes, remuneration and social security | 45 | €21,340 | €22,784 | +€1,444 | +6.8% |
| Taxes | 450/3 | €21,340 | €22,784 | +€1,444 | +6.8% |
| Other amounts payable | 47/48 | €52,875 | €96,453 | +€43,579 | +82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,392 | €10,800 | -€30,592 | -73.9% |
| Other operating charges | 640/8 | €1,440 | €3,594 | +€2,153 | +149.5% |
| Gross operating margin | 9900 | €157,981 | €8,037 | -€149,944 | -94.9% |
| Operating profit (loss) | 9901 | €115,149 | -€6,356 | -€121,505 | |
| Financial income | 75/76B | €17 | €0 | -€17 | -98.6% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -98.6% |
| Financial charges | 65/66B | €154 | €4,993 | +€4,840 | +3150.3% |
| Recurring financial charges | 65 | €154 | €4,993 | +€4,840 | +3150.3% |
| Profit (loss) for the period before taxes | 9903 | €115,012 | -€11,349 | -€126,362 | |
| Income taxes | 67/77 | €21,340 | €0 | -€21,340 | -100.0% |
| Profit (loss) for the period | 9904 | €93,672 | -€11,349 | -€105,022 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,672 | -€11,349 | -€105,022 |
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 9 October 2026 via checked.be.