VULCANOO: 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.
VULCANOO
Largest movements
- Tangible fixed assets -€41,737
down €41,737 (-19.8%), from €210,641 to €168,905
of which Furniture and vehicles: -€32,916
- Cash +€17,448
up €17,448 (+29.5%), from €59,094 to €76,542
mainly Net result for the year (+€26,766) and Investment in fixed assets (net) (+€26,286)
- Receivables within one year -€16,703
down €16,703 (-40.0%), from €41,773 to €25,070
of which Other amounts receivable: -€14,813
- Debts after one year -€42,671
down €42,671 (-28.2%), from €151,190 to €108,519
- Current portion of long-term debt -€14,101
down €14,101 (-46.1%), from €30,587 to €16,486
- Reserves +€9,933
up €9,933 (+8.4%), from €118,375 to €128,307
of which Distributable reserves: +€9,933
- Other debts +€3,950
up €3,950 (+103%), from €3,845 to €7,795
- Financial income -€13,103
down €13,103 (-100.0%), from €13,106 to €3
of which Non-recurring financial income: -€13,088
- Gross operating margin +€11,693
up €11,693 (+25.0%), from €46,748 to €58,441
- Depreciation -€6,739
down €6,739 (-30.4%), from €22,190 to €15,451
- Taxes +€1,642
up €1,642 (+18.7%), from €8,775 to €10,417
- Financial charges -€1,112
down €1,112 (-17.9%), from €6,216 to €5,104
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 | €312,179 | €272,446 | -€39,733 | -12.7% |
| Fixed assets | 21/28 | €210,731 | €168,995 | -€41,737 | -19.8% |
| Tangible fixed assets | 22/27 | €210,641 | €168,905 | -€41,737 | -19.8% |
| Land and buildings | 22 | €154,357 | €145,975 | -€8,382 | -5.4% |
| Plant, machinery and equipment | 23 | €11,847 | €11,407 | -€439 | -3.7% |
| Furniture and vehicles | 24 | €44,438 | €11,522 | -€32,916 | -74.1% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €101,448 | €103,451 | +€2,003 | +2.0% |
| Amounts receivable within one year | 40/41 | €41,773 | €25,070 | -€16,703 | -40.0% |
| Trade receivables | 40 | €10,152 | €8,262 | -€1,890 | -18.6% |
| Other amounts receivable | 41 | €31,621 | €16,808 | -€14,813 | -46.8% |
| Cash at bank and in hand | 54/58 | €59,094 | €76,542 | +€17,448 | +29.5% |
| Deferred charges and accrued income | 490/1 | €581 | €1,839 | +€1,258 | +216% |
| Total equity and liabilities | 10/49 | €312,179 | €272,446 | -€39,733 | -12.7% |
| Equity | 10/15 | €119,375 | €129,307 | +€9,933 | +8.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €118,375 | €128,307 | +€9,933 | +8.4% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €118,275 | €128,207 | +€9,933 | +8.4% |
| Amounts payable | 17/49 | €192,804 | €143,138 | -€49,666 | -25.8% |
| Amounts payable after more than one year | 17 | €151,190 | €108,519 | -€42,671 | -28.2% |
| Financial debts | 170/4 | €151,190 | €108,519 | -€42,671 | -28.2% |
| Amounts payable within one year | 42/48 | €41,614 | €32,531 | -€9,083 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €30,587 | €16,486 | -€14,101 | -46.1% |
| Trade debts | 44 | €2,129 | €4,141 | +€2,012 | +94.5% |
| Suppliers | 440/4 | €2,129 | €4,141 | +€2,012 | +94.5% |
| Taxes, remuneration and social security | 45 | €5,053 | €4,109 | -€944 | -18.7% |
| Taxes | 450/3 | €5,053 | €4,109 | -€944 | -18.7% |
| Other amounts payable | 47/48 | €3,845 | €7,795 | +€3,950 | +103% |
| Accrued charges and deferred income | 492/3 | - | €2,088 | +€2,088 | |
| Non-recurring operating income | 76A | €3,097 | €386 | -€2,711 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,190 | €15,451 | -€6,739 | -30.4% |
| Other operating charges | 640/8 | €545 | €706 | +€161 | +29.5% |
| Gross operating margin | 9900 | €46,748 | €58,441 | +€11,693 | +25.0% |
| Operating profit (loss) | 9901 | €24,013 | €42,283 | +€18,271 | +76.1% |
| Financial income | 75/76B | €13,106 | €3 | -€13,103 | -100.0% |
| Recurring financial income | 75 | €18 | €3 | -€15 | -82.4% |
| Non-recurring financial income | 76B | €13,088 | - | -€13,088 | |
| Financial charges | 65/66B | €6,216 | €5,104 | -€1,112 | -17.9% |
| Recurring financial charges | 65 | €6,216 | €5,104 | -€1,112 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €30,904 | €37,183 | +€6,279 | +20.3% |
| Income taxes | 67/77 | €8,775 | €10,417 | +€1,642 | +18.7% |
| Profit (loss) for the period | 9904 | €22,129 | €26,766 | +€4,637 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,129 | €26,766 | +€4,637 | +21.0% |
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 17 October 2026 via checked.be.