VARATEX: 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.
VARATEX
Largest movements
- Receivables within one year +€4,905
up €4,905 (+29.6%), from €16,584 to €21,489
of which Other amounts receivable: +€5,547
- Profit (loss) carried forward +€15,417
up €15,417 (+45.7%), from €33,757 to €49,174
- Debts after one year -€6,033
down €6,033 (-19.5%), from €30,897 to €24,864
- Current portion of long-term debt -€4,015
down €4,015 (-40.0%), from €10,047 to €6,032
- Gross operating margin +€6,172
up €6,172 (+18.1%), from €34,173 to €40,345
- Depreciation +€1,077
up €1,077 (+7.7%), from €13,925 to €15,002
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 | €304,942 | €310,006 | +€5,064 | +1.7% |
| Fixed assets | 21/28 | €277,369 | €276,907 | -€462 | -0.2% |
| Tangible fixed assets | 22/27 | €277,358 | €276,896 | -€462 | -0.2% |
| Land and buildings | 22 | €277,260 | €276,848 | -€412 | -0.1% |
| Furniture and vehicles | 24 | €98 | €48 | -€50 | -51.0% |
| Financial fixed assets | 28 | €11 | €11 | = | 0.0% |
| Current assets | 29/58 | €27,573 | €33,099 | +€5,526 | +20.0% |
| Amounts receivable within one year | 40/41 | €16,584 | €21,489 | +€4,905 | +29.6% |
| Trade receivables | 40 | €16,584 | €15,942 | -€642 | -3.9% |
| Other amounts receivable | 41 | - | €5,547 | +€5,547 | |
| Cash at bank and in hand | 54/58 | €10,989 | €11,610 | +€621 | +5.7% |
| Total equity and liabilities | 10/49 | €304,942 | €310,006 | +€5,064 | +1.7% |
| Equity | 10/15 | €140,035 | €155,452 | +€15,417 | +11.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Revaluation surpluses | 12 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €4,642 | €4,642 | = | 0.0% |
| Distributable reserves | 133 | €4,642 | €4,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,757 | €49,174 | +€15,417 | +45.7% |
| Amounts payable | 17/49 | €164,907 | €154,554 | -€10,353 | -6.3% |
| Amounts payable after more than one year | 17 | €30,897 | €24,864 | -€6,033 | -19.5% |
| Financial debts | 170/4 | €30,897 | €24,864 | -€6,033 | -19.5% |
| Amounts payable within one year | 42/48 | €134,010 | €129,690 | -€4,320 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €10,047 | €6,032 | -€4,015 | -40.0% |
| Trade debts | 44 | €742 | €799 | +€57 | +7.7% |
| Suppliers | 440/4 | €742 | €799 | +€57 | +7.7% |
| Taxes, remuneration and social security | 45 | €4,351 | €3,989 | -€362 | -8.3% |
| Taxes | 450/3 | €4,351 | €3,989 | -€362 | -8.3% |
| Other amounts payable | 47/48 | €118,870 | €118,870 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,925 | €15,002 | +€1,077 | +7.7% |
| Other operating charges | 640/8 | €8,934 | €9,209 | +€275 | +3.1% |
| Gross operating margin | 9900 | €34,173 | €40,345 | +€6,172 | +18.1% |
| Operating profit (loss) | 9901 | €11,314 | €16,134 | +€4,820 | +42.6% |
| Financial charges | 65/66B | €849 | €717 | -€132 | -15.5% |
| Recurring financial charges | 65 | €849 | €717 | -€132 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €10,465 | €15,417 | +€4,952 | +47.3% |
| Profit (loss) for the period | 9904 | €10,465 | €15,417 | +€4,952 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,465 | €15,417 | +€4,952 | +47.3% |
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 18 October 2026 via checked.be.