Varato: 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.
Varato
Largest movements
- Cash +€122,969
up €122,969 (+70.7%), from €173,904 to €296,873
mainly Trade debts (+€120,037) and Depreciation (+€45,523)
- Stocks and contracts -€20,529
down €20,529 (-17.3%), from €118,810 to €98,281
of which Contracts in progress: -€16,328
- Tangible fixed assets -€19,422
down €19,422 (-14.3%), from €136,151 to €116,729
of which Plant, machinery and equipment: -€19,581
- Receivables within one year +€17,133
up €17,133 (+9.6%), from €177,679 to €194,811
of which Trade receivables: +€16,751
- Trade debts +€120,037
up €120,037 (+93.5%), from €128,360 to €248,397
- Tax, wage and social debts -€49,985
down €49,985 (-53.7%), from €93,102 to €43,117
of which Remuneration and social security: -€41,699
- Current portion of long-term debt +€24,018
up €24,018 (+50.4%), from €47,615 to €71,633
- Debts after one year -€23,698
down €23,698 (-22.5%), from €105,554 to €81,856
- Accrued charges and deferred income +€20,847
up €20,847 (+92.4%), from €22,559 to €43,407
- Gross operating margin -€99,946
down €99,946 (-19.8%), from €505,159 to €405,212
- Staff costs -€55,750
down €55,750 (-15.1%), from €369,185 to €313,435
- Depreciation +€6,978
up €6,978 (+18.1%), from €38,545 to €45,523
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €613,308 | €717,115 | +€103,807 | +16.9% |
| Fixed assets | 21/28 | €139,582 | €119,770 | -€19,812 | -14.2% |
| Intangible fixed assets | 21 | €1,296 | €906 | -€390 | -30.1% |
| Tangible fixed assets | 22/27 | €136,151 | €116,729 | -€19,422 | -14.3% |
| Plant, machinery and equipment | 23 | €85,963 | €66,382 | -€19,581 | -22.8% |
| Furniture and vehicles | 24 | €23,095 | €28,902 | +€5,807 | +25.1% |
| Leasing and similar rights | 25 | €27,093 | €21,445 | -€5,648 | -20.8% |
| Financial fixed assets | 28 | €2,135 | €2,135 | = | 0.0% |
| Current assets | 29/58 | €473,726 | €597,346 | +€123,620 | +26.1% |
| Stocks and contracts in progress | 3 | €118,810 | €98,281 | -€20,529 | -17.3% |
| Stocks | 30/36 | €81,982 | €77,781 | -€4,201 | -5.1% |
| Contracts in progress | 37 | €36,828 | €20,500 | -€16,328 | -44.3% |
| Amounts receivable within one year | 40/41 | €177,679 | €194,811 | +€17,133 | +9.6% |
| Trade receivables | 40 | €177,679 | €194,430 | +€16,751 | +9.4% |
| Other amounts receivable | 41 | - | €382 | +€382 | |
| Cash at bank and in hand | 54/58 | €173,904 | €296,873 | +€122,969 | +70.7% |
| Deferred charges and accrued income | 490/1 | €3,334 | €7,381 | +€4,047 | +121% |
| Total equity and liabilities | 10/49 | €613,308 | €717,115 | +€103,807 | +16.9% |
| Equity | 10/15 | €52,842 | €63,960 | +€11,118 | +21.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €27,842 | €38,960 | +€11,118 | +39.9% |
| Distributable reserves | 133 | €27,842 | €38,960 | +€11,118 | +39.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €560,466 | €653,155 | +€92,689 | +16.5% |
| Amounts payable after more than one year | 17 | €105,554 | €81,856 | -€23,698 | -22.5% |
| Financial debts | 170/4 | €105,554 | €81,856 | -€23,698 | -22.5% |
| Amounts payable within one year | 42/48 | €432,353 | €527,892 | +€95,539 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €47,615 | €71,633 | +€24,018 | +50.4% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €128,360 | €248,397 | +€120,037 | +93.5% |
| Suppliers | 440/4 | €128,360 | €248,397 | +€120,037 | +93.5% |
| Taxes, remuneration and social security | 45 | €93,102 | €43,117 | -€49,985 | -53.7% |
| Taxes | 450/3 | €35,184 | €26,898 | -€8,286 | -23.5% |
| Remuneration and social security | 454/9 | €57,918 | €16,219 | -€41,699 | -72.0% |
| Other amounts payable | 47/48 | €63,275 | €64,744 | +€1,469 | +2.3% |
| Accrued charges and deferred income | 492/3 | €22,559 | €43,407 | +€20,847 | +92.4% |
| Remuneration, social security and pensions | 62 | €369,185 | €313,435 | -€55,750 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,545 | €45,523 | +€6,978 | +18.1% |
| Other operating charges | 640/8 | €3,898 | €3,491 | -€407 | -10.4% |
| Gross operating margin | 9900 | €505,159 | €405,212 | -€99,946 | -19.8% |
| Operating profit (loss) | 9901 | €93,530 | €42,763 | -€50,767 | -54.3% |
| Financial income | 75/76B | €487 | €303 | -€184 | -37.8% |
| Recurring financial income | 75 | €487 | €303 | -€184 | -37.8% |
| Financial charges | 65/66B | €21,703 | €25,399 | +€3,696 | +17.0% |
| Recurring financial charges | 65 | €21,703 | €25,399 | +€3,696 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €72,314 | €17,667 | -€54,647 | -75.6% |
| Income taxes | 67/77 | €10,940 | €6,549 | -€4,391 | -40.1% |
| Profit (loss) for the period | 9904 | €61,374 | €11,118 | -€50,255 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,374 | €11,118 | -€50,255 | -81.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.