LA VARO: 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.
LA VARO
Largest movements
- Deferred charges and accrued income -€4,491
down €4,491 (-25.1%), from €17,868 to €13,377
- Cash +€3,935
up €3,935 (+25.2%), from €15,589 to €19,524
mainly Deferred charges and accrued income (+€4,491) and Net result for the year (+€3,351)
- Receivables within one year +€3,191
up €3,191 (+1,375%), from €232 to €3,423
- Stocks and contracts +€1,696
up €1,696 (+26.5%), from €6,400 to €8,096
- Profit (loss) carried forward +€3,351
up €3,351 (+15.3%), from -€21,965 to -€18,614
- Other debts +€2,064
up €2,064 (+4.0%), from €51,134 to €53,197
- Tax, wage and social debts -€1,301
down €1,301 (-14.5%), from €8,985 to €7,684
of which Remuneration and social security: -€918
- Trade debts +€1,072
up €1,072 (+24.1%), from €4,456 to €5,529
- Advances received -€700
no longer reported in 2025 (was €700)
- Gross operating margin +€19,875
up €19,875 (+70.1%), from €28,340 to €48,215
- Staff costs +€7,081
up €7,081 (+20.3%), from €34,870 to €41,952
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 | €51,309 | €55,795 | +€4,486 | +8.7% |
| Fixed assets | 21/28 | €11,219 | €11,374 | +€155 | +1.4% |
| Tangible fixed assets | 22/27 | €9,219 | €9,374 | +€155 | +1.7% |
| Plant, machinery and equipment | 23 | €766 | €254 | -€512 | -66.9% |
| Furniture and vehicles | 24 | €972 | €2,588 | +€1,616 | +166% |
| Other tangible fixed assets | 26 | €7,481 | €6,533 | -€948 | -12.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €40,090 | €44,421 | +€4,331 | +10.8% |
| Stocks and contracts in progress | 3 | €6,400 | €8,096 | +€1,696 | +26.5% |
| Stocks | 30/36 | €6,400 | €8,096 | +€1,696 | +26.5% |
| Amounts receivable within one year | 40/41 | €232 | €3,423 | +€3,191 | +1,375% |
| Trade receivables | 40 | €232 | €3,423 | +€3,191 | +1,375% |
| Cash at bank and in hand | 54/58 | €15,589 | €19,524 | +€3,935 | +25.2% |
| Deferred charges and accrued income | 490/1 | €17,868 | €13,377 | -€4,491 | -25.1% |
| Total equity and liabilities | 10/49 | €51,309 | €55,795 | +€4,486 | +8.7% |
| Equity | 10/15 | -€13,967 | -€10,615 | +€3,351 | +24.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,999 | €2,999 | = | 0.0% |
| Distributable reserves | 133 | €2,999 | €2,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,965 | -€18,614 | +€3,351 | +15.3% |
| Amounts payable | 17/49 | €65,275 | €66,410 | +€1,135 | +1.7% |
| Amounts payable within one year | 42/48 | €65,275 | €66,410 | +€1,135 | +1.7% |
| Trade debts | 44 | €4,456 | €5,529 | +€1,072 | +24.1% |
| Suppliers | 440/4 | €4,456 | €5,529 | +€1,072 | +24.1% |
| Advances received on contracts in progress | 46 | €700 | - | -€700 | |
| Taxes, remuneration and social security | 45 | €8,985 | €7,684 | -€1,301 | -14.5% |
| Taxes | 450/3 | €4,066 | €3,683 | -€383 | -9.4% |
| Remuneration and social security | 454/9 | €4,919 | €4,001 | -€918 | -18.7% |
| Other amounts payable | 47/48 | €51,134 | €53,197 | +€2,064 | +4.0% |
| Remuneration, social security and pensions | 62 | €34,870 | €41,952 | +€7,081 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,071 | €2,228 | +€157 | +7.6% |
| Other operating charges | 640/8 | €401 | €173 | -€228 | -56.8% |
| Gross operating margin | 9900 | €28,340 | €48,215 | +€19,875 | +70.1% |
| Operating profit (loss) | 9901 | -€9,002 | €3,863 | +€12,865 | |
| Financial income | 75/76B | €4 | €1 | -€3 | -66.2% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -66.2% |
| Financial charges | 65/66B | €665 | €275 | -€390 | -58.7% |
| Recurring financial charges | 65 | €665 | €275 | -€390 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,662 | €3,589 | +€13,252 | |
| Income taxes | 67/77 | €240 | €238 | -€2 | -0.8% |
| Profit (loss) for the period | 9904 | -€9,902 | €3,351 | +€13,253 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,902 | €3,351 | +€13,253 |
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 13 October 2026 via checked.be.