VARE Consult: 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.
VARE Consult
Largest movements
- Cash -€28,643
down €28,643 (-28.4%), from €100,978 to €72,334
mainly Contributions, distributions and other (-€96,005) and Investment in fixed assets (net) (-€31,283)
- Tangible fixed assets +€25,811
up €25,811 (+1,737%), from €1,486 to €27,296
of which Furniture and vehicles: +€24,093
- Receivables within one year +€24,611
up €24,611 (+178%), from €13,847 to €38,458
of which Trade receivables: +€15,505
- Other debts +€62,734
up €62,734 (+2,214%), from €2,833 to €65,567
- Profit (loss) carried forward -€40,916
down €40,916 (-42.6%), from €96,005 to €55,089
- Gross operating margin +€33,750
up €33,750 (+76.1%), from €44,339 to €78,089
- Taxes +€4,959
up €4,959 (+46.0%), from €10,786 to €15,745
- Depreciation +€4,829
up €4,829 (+751%), from €643 to €5,472
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 | €117,552 | €139,523 | +€21,971 | +18.7% |
| Fixed assets | 21/28 | €1,486 | €27,296 | +€25,811 | +1,737% |
| Tangible fixed assets | 22/27 | €1,486 | €27,296 | +€25,811 | +1,737% |
| Plant, machinery and equipment | 23 | €1,400 | €3,117 | +€1,717 | +123% |
| Furniture and vehicles | 24 | €85 | €24,179 | +€24,093 | +28,213% |
| Current assets | 29/58 | €116,067 | €112,227 | -€3,840 | -3.3% |
| Amounts receivable within one year | 40/41 | €13,847 | €38,458 | +€24,611 | +178% |
| Trade receivables | 40 | €13,697 | €29,202 | +€15,505 | +113% |
| Other amounts receivable | 41 | €150 | €9,255 | +€9,105 | +6,070% |
| Cash at bank and in hand | 54/58 | €100,978 | €72,334 | -€28,643 | -28.4% |
| Deferred charges and accrued income | 490/1 | €1,242 | €1,435 | +€193 | +15.5% |
| Total equity and liabilities | 10/49 | €117,552 | €139,523 | +€21,971 | +18.7% |
| Equity | 10/15 | €96,105 | €55,189 | -€40,916 | -42.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,005 | €55,089 | -€40,916 | -42.6% |
| Amounts payable | 17/49 | €21,448 | €84,334 | +€62,887 | +293% |
| Amounts payable within one year | 42/48 | €21,448 | €84,334 | +€62,887 | +293% |
| Trade debts | 44 | €398 | €729 | +€331 | +83.3% |
| Suppliers | 440/4 | €398 | €729 | +€331 | +83.3% |
| Taxes, remuneration and social security | 45 | €18,217 | €18,039 | -€178 | -1.0% |
| Taxes | 450/3 | €18,217 | €18,039 | -€178 | -1.0% |
| Other amounts payable | 47/48 | €2,833 | €65,567 | +€62,734 | +2,214% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €643 | €5,472 | +€4,829 | +751% |
| Other operating charges | 640/8 | €700 | €842 | +€142 | +20.3% |
| Non-recurring operating charges | 66A | - | €561 | +€561 | |
| Gross operating margin | 9900 | €44,339 | €78,089 | +€33,750 | +76.1% |
| Operating profit (loss) | 9901 | €42,996 | €71,214 | +€28,218 | +65.6% |
| Financial income | 75/76B | €57 | €0 | -€57 | -99.6% |
| Recurring financial income | 75 | €57 | €0 | -€57 | -99.6% |
| Financial charges | 65/66B | €739 | €381 | -€358 | -48.5% |
| Recurring financial charges | 65 | €739 | €381 | -€358 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €42,314 | €70,833 | +€28,519 | +67.4% |
| Income taxes | 67/77 | €10,786 | €15,745 | +€4,959 | +46.0% |
| Profit (loss) for the period | 9904 | €31,528 | €55,089 | +€23,561 | +74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,528 | €55,089 | +€23,561 | +74.7% |
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 22 October 2026 via checked.be.