VAN VARCO: 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.
VAN VARCO
Largest movements
- Cash -€63,197
down €63,197 (-71.0%), from €88,952 to €25,755
mainly Debts after one year (-€49,956) and Contributions, distributions and other (-€47,310)
- Receivables within one year +€39,359
up €39,359 (+161.0%), from €24,440 to €63,799
of which Other amounts receivable: +€38,723
- Tangible fixed assets -€9,453
down €9,453 (-6.6%), from €143,427 to €133,974
of which Land and buildings: -€6,221
- Debts after one year -€49,956
down €49,956 (-65.9%), from €75,811 to €25,855
- Other debts +€13,512
up €13,512 (+43.6%), from €30,996 to €44,508
- Tax, wage and social debts +€6,576
up €6,576 (+43.3%), from €15,173 to €21,750
of which Taxes: +€6,576
- Accrued charges and deferred income -€3,040
no longer reported in 2025 (was €3,040)
- Gross operating margin +€5,092
up €5,092 (+6.9%), from €73,400 to €78,492
- Taxes +€3,116
up €3,116 (+20.0%), from €15,544 to €18,660
- Financial charges -€2,945
down €2,945 (-42.9%), from €6,858 to €3,913
- Depreciation -€1,852
down €1,852 (-16.4%), from €11,305 to €9,453
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 | €256,819 | €223,528 | -€33,291 | -13.0% |
| Fixed assets | 21/28 | €143,427 | €133,974 | -€9,453 | -6.6% |
| Tangible fixed assets | 22/27 | €143,427 | €133,974 | -€9,453 | -6.6% |
| Land and buildings | 22 | €132,232 | €126,012 | -€6,221 | -4.7% |
| Plant, machinery and equipment | 23 | €2,164 | €1,060 | -€1,105 | -51.0% |
| Furniture and vehicles | 24 | €9,030 | €6,903 | -€2,127 | -23.6% |
| Current assets | 29/58 | €113,392 | €89,554 | -€23,838 | -21.0% |
| Amounts receivable within one year | 40/41 | €24,440 | €63,799 | +€39,359 | +161.0% |
| Trade receivables | 40 | €15,998 | €16,635 | +€636 | +4.0% |
| Other amounts receivable | 41 | €8,442 | €47,165 | +€38,723 | +458.7% |
| Cash at bank and in hand | 54/58 | €88,952 | €25,755 | -€63,197 | -71.0% |
| Total equity and liabilities | 10/49 | €256,819 | €223,528 | -€33,291 | -13.0% |
| Equity | 10/15 | €116,760 | €114,202 | -€2,558 | -2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,160 | €95,602 | -€2,558 | -2.6% |
| Distributable reserves | 133 | €98,160 | €95,602 | -€2,558 | -2.6% |
| Amounts payable | 17/49 | €140,059 | €109,326 | -€30,733 | -21.9% |
| Amounts payable after more than one year | 17 | €75,811 | €25,855 | -€49,956 | -65.9% |
| Financial debts | 170/4 | €75,811 | €25,855 | -€49,956 | -65.9% |
| Amounts payable within one year | 42/48 | €61,208 | €83,471 | +€22,264 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €11,826 | €12,204 | +€378 | +3.2% |
| Trade debts | 44 | €3,213 | €5,010 | +€1,797 | +55.9% |
| Suppliers | 440/4 | €3,213 | €5,010 | +€1,797 | +55.9% |
| Taxes, remuneration and social security | 45 | €15,173 | €21,750 | +€6,576 | +43.3% |
| Taxes | 450/3 | €13,078 | €19,655 | +€6,576 | +50.3% |
| Remuneration and social security | 454/9 | €2,095 | €2,095 | = | 0.0% |
| Other amounts payable | 47/48 | €30,996 | €44,508 | +€13,512 | +43.6% |
| Accrued charges and deferred income | 492/3 | €3,040 | - | -€3,040 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,305 | €9,453 | -€1,852 | -16.4% |
| Other operating charges | 640/8 | €2,093 | €1,833 | -€260 | -12.4% |
| Gross operating margin | 9900 | €73,400 | €78,492 | +€5,092 | +6.9% |
| Operating profit (loss) | 9901 | €60,003 | €67,207 | +€7,204 | +12.0% |
| Financial income | 75/76B | €19 | €118 | +€99 | +528.6% |
| Recurring financial income | 75 | €19 | €118 | +€99 | +528.6% |
| Financial charges | 65/66B | €6,858 | €3,913 | -€2,945 | -42.9% |
| Recurring financial charges | 65 | €6,858 | €3,913 | -€2,945 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €53,164 | €63,412 | +€10,248 | +19.3% |
| Income taxes | 67/77 | €15,544 | €18,660 | +€3,116 | +20.0% |
| Profit (loss) for the period | 9904 | €37,620 | €44,752 | +€7,132 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,620 | €44,752 | +€7,132 | +19.0% |
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 8 October 2026 via checked.be.