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
- Cash +€162,703
up €162,703 (+26.1%), from €624,211 to €786,914
mainly Net result for the year (+€153,022) and Depreciation (+€88,490)
- Tangible fixed assets -€85,794
down €85,794 (-13.9%), from €619,212 to €533,418
of which Land and buildings: -€76,999
- Stocks and contracts +€44,903
up €44,903 (+662%), from €6,781 to €51,683
- Receivables within one year +€24,805
up €24,805 (+65.7%), from €37,754 to €62,559
of which Trade receivables: +€24,144
- Reserves +€141,612
up €141,612 (+47.5%), from €298,000 to €439,612
of which Distributable reserves: +€141,612
- Debts after one year -€48,731
down €48,731 (-8.2%), from €593,060 to €544,328
- Trade debts +€40,221
up €40,221 (+257%), from €15,660 to €55,881
- Advances received +€16,487
up €16,487 (+33.6%), from €49,020 to €65,507
- Tax, wage and social debts -€15,615
down €15,615 (-30.3%), from €51,594 to €35,978
of which Taxes: -€19,036
- Gross operating margin +€54,367
up €54,367 (+16.5%), from €329,734 to €384,101
- Staff costs +€18,167
up €18,167 (+47.4%), from €38,300 to €56,467
- Financial charges +€6,996
up €6,996 (+56.8%), from €12,325 to €19,321
- Taxes +€5,152
up €5,152 (+11.5%), from €44,636 to €49,787
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 | €1,288,078 | €1,434,695 | +€146,617 | +11.4% |
| Fixed assets | 21/28 | €619,332 | €533,538 | -€85,794 | -13.9% |
| Tangible fixed assets | 22/27 | €619,212 | €533,418 | -€85,794 | -13.9% |
| Land and buildings | 22 | €593,648 | €516,648 | -€76,999 | -13.0% |
| Plant, machinery and equipment | 23 | €7,254 | €5,292 | -€1,962 | -27.1% |
| Furniture and vehicles | 24 | €18,310 | €11,478 | -€6,832 | -37.3% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €668,746 | €901,157 | +€232,411 | +34.8% |
| Stocks and contracts in progress | 3 | €6,781 | €51,683 | +€44,903 | +662% |
| Stocks | 30/36 | €6,781 | €51,683 | +€44,903 | +662% |
| Amounts receivable within one year | 40/41 | €37,754 | €62,559 | +€24,805 | +65.7% |
| Trade receivables | 40 | €37,636 | €61,780 | +€24,144 | +64.2% |
| Other amounts receivable | 41 | €119 | €779 | +€660 | +557% |
| Cash at bank and in hand | 54/58 | €624,211 | €786,914 | +€162,703 | +26.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,288,078 | €1,434,695 | +€146,617 | +11.4% |
| Equity | 10/15 | €418,590 | €559,612 | +€141,022 | +33.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €298,000 | €439,612 | +€141,612 | +47.5% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €286,000 | €427,612 | +€141,612 | +49.5% |
| Profit (loss) carried forward | 14 | €590 | €0 | -€590 | -100% |
| Amounts payable | 17/49 | €869,488 | €875,083 | +€5,595 | +0.6% |
| Amounts payable after more than one year | 17 | €593,060 | €544,328 | -€48,731 | -8.2% |
| Financial debts | 170/4 | €593,060 | €544,328 | -€48,731 | -8.2% |
| Amounts payable within one year | 42/48 | €276,429 | €330,755 | +€54,326 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €48,529 | €48,731 | +€203 | +0.4% |
| Trade debts | 44 | €15,660 | €55,881 | +€40,221 | +257% |
| Suppliers | 440/4 | €15,660 | €55,881 | +€40,221 | +257% |
| Advances received on contracts in progress | 46 | €49,020 | €65,507 | +€16,487 | +33.6% |
| Taxes, remuneration and social security | 45 | €51,594 | €35,978 | -€15,615 | -30.3% |
| Taxes | 450/3 | €45,243 | €26,207 | -€19,036 | -42.1% |
| Remuneration and social security | 454/9 | €6,351 | €9,771 | +€3,420 | +53.9% |
| Other amounts payable | 47/48 | €111,627 | €124,657 | +€13,030 | +11.7% |
| Remuneration, social security and pensions | 62 | €38,300 | €56,467 | +€18,167 | +47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,839 | €88,490 | -€1,349 | -1.5% |
| Other operating charges | 640/8 | €16,474 | €17,063 | +€589 | +3.6% |
| Gross operating margin | 9900 | €329,734 | €384,101 | +€54,367 | +16.5% |
| Operating profit (loss) | 9901 | €185,122 | €222,081 | +€36,959 | +20.0% |
| Financial income | 75/76B | €46 | €50 | +€4 | +7.8% |
| Recurring financial income | 75 | €46 | €50 | +€4 | +7.8% |
| Financial charges | 65/66B | €12,325 | €19,321 | +€6,996 | +56.8% |
| Recurring financial charges | 65 | €12,325 | €19,321 | +€6,996 | +56.8% |
| Profit (loss) for the period before taxes | 9903 | €172,843 | €202,810 | +€29,966 | +17.3% |
| Income taxes | 67/77 | €44,636 | €49,787 | +€5,152 | +11.5% |
| Profit (loss) for the period | 9904 | €128,207 | €153,022 | +€24,815 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €128,207 | €153,022 | +€24,815 | +19.4% |
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.