Vaar: what changed
Two fiscal 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.
Vaar
Largest movements
- Cash +€6,116
up €6,116 (+35.8%), from €17,080 to €23,196
mainly Net result for the year (+€10,746) and Receivables within one year (+€5,883)
- Receivables within one year -€5,883
down €5,883 (-28.1%), from €20,955 to €15,072
of which Trade receivables: -€15,914
- Tangible fixed assets -€955
down €955 (-33.8%), from €2,830 to €1,875
of which Furniture and vehicles: -€756
- Profit (loss) carried forward +€10,746
up €10,746 (+54.3%), from €19,805 to €30,550
- Advances received -€6,902
down €6,902 (-100.0%), from €6,902 to €0
- Other debts -€3,533
down €3,533 (-100.0%), from €3,533 to €0
- Tax, wage and social debts -€998
down €998 (-12.5%), from €7,960 to €6,962
- Gross operating margin -€11,476
down €11,476 (-43.7%), from €26,238 to €14,763
- Taxes -€2,397
down €2,397 (-43.6%), from €5,495 to €3,099
- Depreciation +€521
up €521 (+119.9%), from €434 to €955
- Financial income +€478
new in 2025: €478
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 | €40,973 | €40,144 | -€830 | -2.0% |
| Fixed assets | 21/28 | €2,830 | €1,875 | -€955 | -33.8% |
| Tangible fixed assets | 22/27 | €2,830 | €1,875 | -€955 | -33.8% |
| Land and buildings | 22 | €906 | €707 | -€199 | -22.0% |
| Furniture and vehicles | 24 | €1,924 | €1,168 | -€756 | -39.3% |
| Current assets | 29/58 | €38,143 | €38,269 | +€126 | +0.3% |
| Amounts receivable within one year | 40/41 | €20,955 | €15,072 | -€5,883 | -28.1% |
| Trade receivables | 40 | €20,946 | €5,031 | -€15,914 | -76.0% |
| Other amounts receivable | 41 | €10 | €10,041 | +€10,032 | +104932.3% |
| Cash at bank and in hand | 54/58 | €17,080 | €23,196 | +€6,116 | +35.8% |
| Deferred charges and accrued income | 490/1 | €107 | €0 | -€107 | -100.0% |
| Total equity and liabilities | 10/49 | €40,973 | €40,144 | -€830 | -2.0% |
| Equity | 10/15 | €21,805 | €32,550 | +€10,746 | +49.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,805 | €30,550 | +€10,746 | +54.3% |
| Amounts payable | 17/49 | €19,169 | €7,593 | -€11,575 | -60.4% |
| Amounts payable within one year | 42/48 | €19,169 | €7,593 | -€11,575 | -60.4% |
| Trade debts | 44 | €774 | €632 | -€143 | -18.4% |
| Suppliers | 440/4 | €774 | €632 | -€143 | -18.4% |
| Advances received on contracts in progress | 46 | €6,902 | €0 | -€6,902 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,960 | €6,962 | -€998 | -12.5% |
| Taxes | 450/3 | €7,960 | €6,962 | -€998 | -12.5% |
| Other amounts payable | 47/48 | €3,533 | €0 | -€3,533 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €434 | €955 | +€521 | +119.9% |
| Other operating charges | 640/8 | €450 | €400 | -€51 | -11.2% |
| Gross operating margin | 9900 | €26,238 | €14,763 | -€11,476 | -43.7% |
| Operating profit (loss) | 9901 | €25,353 | €13,408 | -€11,946 | -47.1% |
| Financial income | 75/76B | - | €478 | +€478 | |
| Recurring financial income | 75 | - | €478 | +€478 | |
| Financial charges | 65/66B | €53 | €41 | -€13 | -23.7% |
| Recurring financial charges | 65 | €53 | €41 | -€13 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €25,300 | €13,844 | -€11,455 | -45.3% |
| Income taxes | 67/77 | €5,495 | €3,099 | -€2,397 | -43.6% |
| Profit (loss) for the period | 9904 | €19,805 | €10,746 | -€9,059 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,805 | €10,746 | -€9,059 | -45.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.