PYVAR: 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.
PYVAR
Largest movements
- Receivables within one year -€624,531
down €624,531 (-62.2%), from €1.0m to €380,103
of which Other amounts receivable: -€670,126
- Cash -€154,323
down €154,323 (-92.5%), from €166,880 to €12,558
mainly Trade debts (-€721,658) and Other debts (-€30,000)
- Tangible fixed assets -€36,159
down €36,159 (-2.6%), from €1.4m to €1.4m
of which Land and buildings: -€59,815
- Trade debts -€721,658
down €721,658 (-32.6%), from €2.2m to €1.5m
- Debts after one year -€30,000
down €30,000 (-9.8%), from €307,500 to €277,500
- Other debts -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Gross operating margin -€315,696
down €315,696 (-85.5%), from €369,424 to €53,729
- Depreciation -€72,652
down €72,652 (-54.0%), from €134,551 to €61,899
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 | €2,821,484 | €2,006,531 | -€814,953 | -28.9% |
| Fixed assets | 21/28 | €1,636,936 | €1,600,777 | -€36,159 | -2.2% |
| Tangible fixed assets | 22/27 | €1,389,538 | €1,353,380 | -€36,159 | -2.6% |
| Land and buildings | 22 | €1,331,608 | €1,271,792 | -€59,815 | -4.5% |
| Furniture and vehicles | 24 | €13,310 | €36,967 | +€23,657 | +177.7% |
| Other tangible fixed assets | 26 | €44,621 | €44,621 | = | 0.0% |
| Financial fixed assets | 28 | €247,398 | €247,398 | = | 0.0% |
| Current assets | 29/58 | €1,184,548 | €405,754 | -€778,794 | -65.7% |
| Amounts receivable within one year | 40/41 | €1,004,634 | €380,103 | -€624,531 | -62.2% |
| Trade receivables | 40 | €92,756 | €138,351 | +€45,595 | +49.2% |
| Other amounts receivable | 41 | €911,878 | €241,752 | -€670,126 | -73.5% |
| Current investments | 50/53 | €11,375 | €11,375 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €166,880 | €12,558 | -€154,323 | -92.5% |
| Deferred charges and accrued income | 490/1 | €1,659 | €1,718 | +€60 | +3.6% |
| Total equity and liabilities | 10/49 | €2,821,484 | €2,006,531 | -€814,953 | -28.9% |
| Equity | 10/15 | €183,005 | €161,184 | -€21,821 | -11.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €180,005 | €158,184 | -€21,821 | -12.1% |
| Tax-exempt reserves | 132 | €156,644 | €148,715 | -€7,929 | -5.1% |
| Distributable reserves | 133 | €23,362 | €9,469 | -€13,892 | -59.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €51,316 | €48,674 | -€2,643 | -5.2% |
| Deferred taxes | 168 | €51,316 | €48,674 | -€2,643 | -5.2% |
| Amounts payable | 17/49 | €2,587,162 | €1,796,674 | -€790,489 | -30.6% |
| Amounts payable after more than one year | 17 | €307,500 | €277,500 | -€30,000 | -9.8% |
| Financial debts | 170/4 | €307,500 | €277,500 | -€30,000 | -9.8% |
| Amounts payable within one year | 42/48 | €2,279,662 | €1,519,174 | -€760,489 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €2,210,831 | €1,489,174 | -€721,658 | -32.6% |
| Suppliers | 440/4 | €2,210,831 | €1,489,174 | -€721,658 | -32.6% |
| Taxes, remuneration and social security | 45 | €8,831 | €0 | -€8,831 | -100.0% |
| Taxes | 450/3 | €8,831 | €0 | -€8,831 | -100.0% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100.0% |
| Non-recurring operating income | 76A | €220,000 | €0 | -€220,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,551 | €61,899 | -€72,652 | -54.0% |
| Other operating charges | 640/8 | €8,619 | €10,436 | +€1,816 | +21.1% |
| Gross operating margin | 9900 | €369,424 | €53,729 | -€315,696 | -85.5% |
| Operating profit (loss) | 9901 | €226,254 | -€18,606 | -€244,860 | |
| Financial income | 75/76B | €151 | €523 | +€373 | +247.5% |
| Recurring financial income | 75 | €151 | €523 | +€373 | +247.5% |
| Financial charges | 65/66B | €6,892 | €6,382 | -€510 | -7.4% |
| Recurring financial charges | 65 | €6,892 | €6,382 | -€510 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €219,513 | -€24,464 | -€243,977 | |
| Transfer from deferred taxes | 780 | €1,542 | €2,643 | +€1,101 | +71.4% |
| Transfer to deferred taxes | 680 | €52,858 | €0 | -€52,858 | -100.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €168,197 | -€21,821 | -€190,018 | |
| Transfer from tax-exempt reserves | 789 | €4,625 | €7,929 | +€3,304 | +71.4% |
| Transfer to tax-exempt reserves | 689 | €158,574 | €0 | -€158,574 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,247 | -€13,892 | -€28,140 |
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 10 October 2026 via checked.be.