VAARWEG: 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.
VAARWEG
Largest movements
- Tangible fixed assets -€160,275
down €160,275 (-2.2%), from €7.2m to €7.0m
- Other debts -€110,000
down €110,000 (-2.2%), from €5.1m to €4.9m
- Depreciation +€13,795
up €13,795 (+8.9%), from €154,602 to €168,397
- Gross operating margin +€8,137
up €8,137 (+4.3%), from €189,686 to €197,823
- Other operating charges +€2,614
up €2,614 (+15.7%), from €16,610 to €19,224
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 | €7,213,715 | €7,071,515 | -€142,200 | -2.0% |
| Fixed assets | 21/28 | €7,176,670 | €7,008,274 | -€168,397 | -2.3% |
| Intangible fixed assets | 21 | €10,125 | €2,003 | -€8,122 | -80.2% |
| Tangible fixed assets | 22/27 | €7,166,546 | €7,006,271 | -€160,275 | -2.2% |
| Land and buildings | 22 | €7,166,546 | €7,006,271 | -€160,275 | -2.2% |
| Current assets | 29/58 | €37,044 | €63,242 | +€26,197 | +70.7% |
| Amounts receivable within one year | 40/41 | €1,321 | €1,313 | -€8 | -0.6% |
| Trade receivables | 40 | €1,250 | €1,250 | = | 0.0% |
| Other amounts receivable | 41 | €71 | €63 | -€8 | -11.3% |
| Cash at bank and in hand | 54/58 | €31,343 | €57,617 | +€26,274 | +83.8% |
| Deferred charges and accrued income | 490/1 | €4,380 | €4,311 | -€69 | -1.6% |
| Total equity and liabilities | 10/49 | €7,213,715 | €7,071,515 | -€142,200 | -2.0% |
| Equity | 10/15 | €1,091,145 | €1,097,916 | +€6,771 | +0.6% |
| Contributions | 10/11 | €1,315,700 | €1,315,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,555 | -€217,784 | +€6,771 | +3.0% |
| Amounts payable | 17/49 | €6,122,570 | €5,973,599 | -€148,971 | -2.4% |
| Amounts payable after more than one year | 17 | €1,022,103 | €985,755 | -€36,348 | -3.6% |
| Financial debts | 170/4 | €1,022,103 | €985,755 | -€36,348 | -3.6% |
| Amounts payable within one year | 42/48 | €5,094,964 | €4,982,096 | -€112,868 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €39,216 | €36,348 | -€2,868 | -7.3% |
| Trade debts | 44 | €130 | €130 | = | 0.0% |
| Suppliers | 440/4 | €130 | €130 | = | 0.0% |
| Other amounts payable | 47/48 | €5,055,618 | €4,945,618 | -€110,000 | -2.2% |
| Accrued charges and deferred income | 492/3 | €5,503 | €5,748 | +€245 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,602 | €168,397 | +€13,795 | +8.9% |
| Other operating charges | 640/8 | €16,610 | €19,224 | +€2,614 | +15.7% |
| Gross operating margin | 9900 | €189,686 | €197,823 | +€8,137 | +4.3% |
| Operating profit (loss) | 9901 | €18,475 | €10,202 | -€8,273 | -44.8% |
| Financial income | 75/76B | €31 | €179 | +€148 | +473.3% |
| Recurring financial income | 75 | €31 | €179 | +€148 | +473.3% |
| Financial charges | 65/66B | €4,054 | €3,610 | -€444 | -11.0% |
| Recurring financial charges | 65 | €4,054 | €3,610 | -€444 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €14,452 | €6,771 | -€7,681 | -53.1% |
| Profit (loss) for the period | 9904 | €14,452 | €6,771 | -€7,681 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,452 | €6,771 | -€7,681 | -53.1% |
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 4 October 2026 via checked.be.