VARDA: 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.
VARDA
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€233,307
up €233,307 (+256.9%), from €90,819 to €324,125
mainly Current investments (+€250,000) and Net result for the year (+€5,564)
- Other debts -€24,497
down €24,497 (-8.8%), from €277,937 to €253,440
- Reserves +€5,564
up €5,564 (+10.9%), from €50,988 to €56,553
- Financial income -€2,516
down €2,516 (-32.8%), from €7,674 to €5,158
- Gross operating margin -€1,584
down €1,584 (-22.4%), from €7,059 to €5,475
- Taxes -€1,035
down €1,035 (-36.3%), from €2,854 to €1,819
- Other operating charges +€285
up €285 (+53.3%), from €534 to €819
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 | €347,598 | €328,784 | -€18,814 | -5.4% |
| Fixed assets | 21/28 | €5,196 | €2,806 | -€2,391 | -46.0% |
| Tangible fixed assets | 22/27 | €5,196 | €2,806 | -€2,391 | -46.0% |
| Furniture and vehicles | 24 | €5,196 | €2,806 | -€2,391 | -46.0% |
| Current assets | 29/58 | €342,402 | €325,978 | -€16,423 | -4.8% |
| Amounts receivable within one year | 40/41 | €1,583 | €1,853 | +€270 | +17.0% |
| Trade receivables | 40 | - | €853 | +€853 | |
| Other amounts receivable | 41 | €1,583 | €1,000 | -€583 | -36.8% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €90,819 | €324,125 | +€233,307 | +256.9% |
| Total equity and liabilities | 10/49 | €347,598 | €328,784 | -€18,814 | -5.4% |
| Equity | 10/15 | €69,588 | €75,153 | +€5,564 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,988 | €56,553 | +€5,564 | +10.9% |
| Distributable reserves | 133 | €50,988 | €56,553 | +€5,564 | +10.9% |
| Amounts payable | 17/49 | €278,010 | €253,631 | -€24,379 | -8.8% |
| Amounts payable within one year | 42/48 | €278,010 | €253,631 | -€24,379 | -8.8% |
| Trade debts | 44 | €73 | €62 | -€10 | -14.0% |
| Suppliers | 440/4 | €73 | €62 | -€10 | -14.0% |
| Taxes, remuneration and social security | 45 | - | €128 | +€128 | |
| Taxes | 450/3 | - | €128 | +€128 | |
| Other amounts payable | 47/48 | €277,937 | €253,440 | -€24,497 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,378 | €2,391 | +€13 | +0.5% |
| Other operating charges | 640/8 | €534 | €819 | +€285 | +53.3% |
| Gross operating margin | 9900 | €7,059 | €5,475 | -€1,584 | -22.4% |
| Operating profit (loss) | 9901 | €4,147 | €2,265 | -€1,882 | -45.4% |
| Financial income | 75/76B | €7,674 | €5,158 | -€2,516 | -32.8% |
| Recurring financial income | 75 | €7,674 | €5,158 | -€2,516 | -32.8% |
| Financial charges | 65/66B | €39 | €39 | +€0 | +0.1% |
| Recurring financial charges | 65 | €39 | €39 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €11,782 | €7,384 | -€4,398 | -37.3% |
| Income taxes | 67/77 | €2,854 | €1,819 | -€1,035 | -36.3% |
| Profit (loss) for the period | 9904 | €8,927 | €5,564 | -€3,363 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,927 | €5,564 | -€3,363 | -37.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.