VAARTLAND: 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.
VAARTLAND
Largest movements
- Receivables within one year -€397,237
down €397,237 (-97.1%), from €409,073 to €11,836
of which Trade receivables: -€399,300
- Receivables after one year +€220,860
up €220,860 (+35.7%), from €619,304 to €840,164
- Current investments +€100,000
new in 2025: €100,000
- Cash -€32,497
down €32,497 (-11.1%), from €293,609 to €261,113
mainly Receivables after one year (-€220,860) and Current investments (-€100,000)
- Debts after one year -€65,772
down €65,772 (-5.8%), from €1.1m to €1.1m
- Profit (loss) carried forward -€40,269
down €40,269, from €1 to -€40,268
- Gross operating margin -€42,870
down €42,870 (-295%), from -€14,514 to -€57,384
- Financial income +€3,252
up €3,252 (+18.5%), from €17,608 to €20,860
of which Financial income: +€3,252
- Other operating charges +€1,755
up €1,755 (+249%), from €706 to €2,461
- Financial charges -€943
down €943 (-42.3%), from €2,228 to €1,284
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 | €1,321,987 | €1,213,113 | -€108,874 | -8.2% |
| Current assets | 29/58 | €1,321,987 | €1,213,113 | -€108,874 | -8.2% |
| Amounts receivable after more than one year | 29 | €619,304 | €840,164 | +€220,860 | +35.7% |
| Other amounts receivable | 291 | €619,304 | €840,164 | +€220,860 | +35.7% |
| Amounts receivable within one year | 40/41 | €409,073 | €11,836 | -€397,237 | -97.1% |
| Trade receivables | 40 | €399,300 | - | -€399,300 | |
| Other amounts receivable | 41 | €9,773 | €11,836 | +€2,063 | +21.1% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €293,609 | €261,113 | -€32,497 | -11.1% |
| Total equity and liabilities | 10/49 | €1,321,987 | €1,213,113 | -€108,874 | -8.2% |
| Equity | 10/15 | €178,201 | €137,932 | -€40,269 | -22.6% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1 | -€40,268 | -€40,269 | |
| Amounts payable | 17/49 | €1,143,786 | €1,075,181 | -€68,605 | -6.0% |
| Amounts payable after more than one year | 17 | €1,140,351 | €1,074,580 | -€65,772 | -5.8% |
| Other amounts payable | 178/9 | €1,140,351 | €1,074,580 | -€65,772 | -5.8% |
| Amounts payable within one year | 42/48 | €3,434 | €601 | -€2,833 | -82.5% |
| Trade debts | 44 | €3,434 | €601 | -€2,833 | -82.5% |
| Suppliers | 440/4 | €3,434 | €601 | -€2,833 | -82.5% |
| Other operating charges | 640/8 | €706 | €2,461 | +€1,755 | +249% |
| Gross operating margin | 9900 | -€14,514 | -€57,384 | -€42,870 | -295% |
| Operating profit (loss) | 9901 | -€15,220 | -€59,845 | -€44,625 | -293% |
| Financial income | 75/76B | €17,608 | €20,860 | +€3,252 | +18.5% |
| Recurring financial income | 75 | €17,608 | €20,860 | +€3,252 | +18.5% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,228 | €1,284 | -€943 | -42.3% |
| Recurring financial charges | 65 | €2,228 | €1,284 | -€943 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €161 | -€40,269 | -€40,430 | |
| Profit (loss) for the period | 9904 | €161 | -€40,269 | -€40,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €161 | -€40,269 | -€40,430 |
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 15 October 2026 via checked.be.