VAR STRATEGIES: what changed
VAR STRATEGIES
Largest movements
- Cash +€4,904
up €4,904 (+2.4%), from €202,872 to €207,776
mainly Other debts (+€8,392) and Net result for the year (+€2,348)
- Other debts +€8,392
up €8,392 (+80.0%), from €10,493 to €18,885
- Tax, wage and social debts -€3,200
down €3,200 (-97.3%), from €3,288 to €88
of which Remuneration and social security: -€2,960
- Trade debts -€2,678
down €2,678 (-35.3%), from €7,595 to €4,918
- Gross operating margin +€10,144
up €10,144, from -€8,408 to €1,736
- Financial charges -€569
down €569 (-75.9%), from €749 to €180
- Financial income +€515
up €515 (+122%), from €422 to €937
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,608 | €246,471 | +€4,863 | +2.0% |
| Fixed assets | 21/28 | €1,183 | €1,183 | = | 0.0% |
| Financial fixed assets | 28 | €1,183 | €1,183 | = | 0.0% |
| Current assets | 29/58 | €240,425 | €245,288 | +€4,863 | +2.0% |
| Amounts receivable within one year | 40/41 | €37,553 | €37,512 | -€41 | -0.1% |
| Trade receivables | 40 | €37,351 | €37,351 | = | 0.0% |
| Other amounts receivable | 41 | €202 | €161 | -€41 | -20.4% |
| Cash at bank and in hand | 54/58 | €202,872 | €207,776 | +€4,904 | +2.4% |
| Total equity and liabilities | 10/49 | €241,608 | €246,471 | +€4,863 | +2.0% |
| Equity | 10/15 | €220,231 | €222,580 | +€2,348 | +1.1% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €47,365 | €47,365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €510 | €510 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,866 | €161,215 | +€2,348 | +1.5% |
| Amounts payable | 17/49 | €21,376 | €23,891 | +€2,515 | +11.8% |
| Amounts payable within one year | 42/48 | €21,376 | €23,891 | +€2,515 | +11.8% |
| Trade debts | 44 | €7,595 | €4,918 | -€2,678 | -35.3% |
| Suppliers | 440/4 | €7,595 | €4,918 | -€2,678 | -35.3% |
| Taxes, remuneration and social security | 45 | €3,288 | €88 | -€3,200 | -97.3% |
| Taxes | 450/3 | €328 | €88 | -€240 | -73.2% |
| Remuneration and social security | 454/9 | €2,960 | - | -€2,960 | |
| Other amounts payable | 47/48 | €10,493 | €18,885 | +€8,392 | +80.0% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | -€8,408 | €1,736 | +€10,144 | |
| Operating profit (loss) | 9901 | -€8,549 | €1,592 | +€10,140 | |
| Financial income | 75/76B | €422 | €937 | +€515 | +122% |
| Recurring financial income | 75 | €422 | €937 | +€515 | +122% |
| Financial charges | 65/66B | €749 | €180 | -€569 | -75.9% |
| Recurring financial charges | 65 | €749 | €180 | -€569 | -75.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,876 | €2,348 | +€11,225 | |
| Profit (loss) for the period | 9904 | -€8,876 | €2,348 | +€11,225 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,876 | €2,348 | +€11,225 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.