DE VAREN: 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.
DE VAREN
Largest movements
- Financial fixed assets +€275,000
new in 2025: €275,000
- Cash -€214,253
down €214,253 (-89.2%), from €240,193 to €25,940
mainly Investment in fixed assets (net) (-€278,564) and Stocks and contracts (-€2,450)
- Receivables within one year -€3,555
down €3,555 (-86.0%), from €4,136 to €581
of which Other amounts receivable: -€3,112
- Reserves +€39,337
up €39,337 (+18.1%), from €217,455 to €256,792
- Tax, wage and social debts +€10,494
up €10,494 (+41.1%), from €25,554 to €36,048
of which Taxes: +€15,260
- Trade debts +€9,203
up €9,203 (+217%), from €4,232 to €13,434
- Gross operating margin +€9,767
up €9,767 (+8.5%), from €114,682 to €124,449
- Financial income -€8,281
down €8,281 (-88.2%), from €9,394 to €1,113
- Staff costs -€8,114
down €8,114 (-12.6%), from €64,260 to €56,146
- Taxes +€2,706
up €2,706 (+16.0%), from €16,943 to €19,649
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 | €269,110 | €325,889 | +€56,779 | +21.1% |
| Fixed assets | 21/28 | €17,889 | €290,204 | +€272,315 | +1,522% |
| Tangible fixed assets | 22/27 | €17,889 | €15,204 | -€2,685 | -15.0% |
| Land and buildings | 22 | €1,990 | €995 | -€995 | -50.0% |
| Plant, machinery and equipment | 23 | €13,269 | €13,436 | +€167 | +1.3% |
| Furniture and vehicles | 24 | €2,630 | €774 | -€1,857 | -70.6% |
| Financial fixed assets | 28 | - | €275,000 | +€275,000 | |
| Current assets | 29/58 | €251,221 | €35,685 | -€215,536 | -85.8% |
| Stocks and contracts in progress | 3 | €4,050 | €6,500 | +€2,450 | +60.5% |
| Stocks | 30/36 | €4,050 | €6,500 | +€2,450 | +60.5% |
| Amounts receivable within one year | 40/41 | €4,136 | €581 | -€3,555 | -86.0% |
| Trade receivables | 40 | €668 | €225 | -€443 | -66.4% |
| Other amounts receivable | 41 | €3,468 | €356 | -€3,112 | -89.7% |
| Cash at bank and in hand | 54/58 | €240,193 | €25,940 | -€214,253 | -89.2% |
| Deferred charges and accrued income | 490/1 | €2,842 | €2,664 | -€178 | -6.2% |
| Total equity and liabilities | 10/49 | €269,110 | €325,889 | +€56,779 | +21.1% |
| Equity | 10/15 | €236,047 | €275,384 | +€39,337 | +16.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €217,455 | €256,792 | +€39,337 | +18.1% |
| Distributable reserves | 133 | €217,455 | €256,792 | +€39,337 | +18.1% |
| Amounts payable | 17/49 | €33,063 | €50,506 | +€17,442 | +52.8% |
| Amounts payable within one year | 42/48 | €33,063 | €50,506 | +€17,442 | +52.8% |
| Trade debts | 44 | €4,232 | €13,434 | +€9,203 | +217% |
| Suppliers | 440/4 | €4,232 | €13,434 | +€9,203 | +217% |
| Taxes, remuneration and social security | 45 | €25,554 | €36,048 | +€10,494 | +41.1% |
| Taxes | 450/3 | €15,001 | €30,261 | +€15,260 | +102% |
| Remuneration and social security | 454/9 | €10,553 | €5,787 | -€4,766 | -45.2% |
| Other amounts payable | 47/48 | €3,278 | €1,023 | -€2,255 | -68.8% |
| Remuneration, social security and pensions | 62 | €64,260 | €56,146 | -€8,114 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,150 | €6,249 | +€1,099 | +21.3% |
| Other operating charges | 640/8 | €3,993 | €4,133 | +€140 | +3.5% |
| Gross operating margin | 9900 | €114,682 | €124,449 | +€9,767 | +8.5% |
| Operating profit (loss) | 9901 | €41,280 | €57,921 | +€16,641 | +40.3% |
| Financial income | 75/76B | €9,394 | €1,113 | -€8,281 | -88.2% |
| Recurring financial income | 75 | €9,394 | €1,113 | -€8,281 | -88.2% |
| Financial charges | 65/66B | €202 | €48 | -€154 | -76.2% |
| Recurring financial charges | 65 | €202 | €48 | -€154 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €50,472 | €58,986 | +€8,514 | +16.9% |
| Income taxes | 67/77 | €16,943 | €19,649 | +€2,706 | +16.0% |
| Profit (loss) for the period | 9904 | €33,529 | €39,337 | +€5,808 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,529 | €39,337 | +€5,808 | +17.3% |
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 27 October 2026 via checked.be.