VARENSBOS PROJECTS: 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.
VARENSBOS PROJECTS
Largest movements
- Tangible fixed assets +€120,800
up €120,800 (+13.3%), from €907,237 to €1.0m
of which Land and buildings: +€123,384
- Debts after one year +€144,070
up €144,070 (+20.6%), from €700,749 to €844,819
- Profit (loss) carried forward -€38,473
down €38,473 (-21.8%), from -€176,253 to -€214,726
- Financial charges +€3,960
up €3,960 (+21.7%), from €18,285 to €22,245
- Gross operating margin -€2,616
down €2,616 (-10.9%), from €24,072 to €21,456
- Other operating charges +€432
up €432 (+10.3%), from €4,189 to €4,621
- Depreciation +€379
up €379 (+1.1%), from €34,034 to €34,413
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 | €1,072,692 | €1,200,162 | +€127,470 | +11.9% |
| Fixed assets | 21/28 | €1,042,237 | €1,163,038 | +€120,800 | +11.6% |
| Tangible fixed assets | 22/27 | €907,237 | €1,028,038 | +€120,800 | +13.3% |
| Land and buildings | 22 | €860,995 | €984,379 | +€123,384 | +14.3% |
| Plant, machinery and equipment | 23 | €43,841 | €42,504 | -€1,337 | -3.0% |
| Furniture and vehicles | 24 | €2,401 | €1,155 | -€1,246 | -51.9% |
| Financial fixed assets | 28 | €135,000 | €135,000 | = | 0.0% |
| Current assets | 29/58 | €30,455 | €37,124 | +€6,669 | +21.9% |
| Amounts receivable within one year | 40/41 | €26,203 | €27,596 | +€1,394 | +5.3% |
| Trade receivables | 40 | €4,145 | €4,145 | = | 0.0% |
| Other amounts receivable | 41 | €22,058 | €23,452 | +€1,394 | +6.3% |
| Cash at bank and in hand | 54/58 | €7 | €6,567 | +€6,560 | +94,389% |
| Deferred charges and accrued income | 490/1 | €4,245 | €2,961 | -€1,285 | -30.3% |
| Total equity and liabilities | 10/49 | €1,072,692 | €1,200,162 | +€127,470 | +11.9% |
| Equity | 10/15 | €243,447 | €209,974 | -€33,473 | -13.7% |
| Contributions | 10/11 | €419,700 | €424,700 | +€5,000 | +1.2% |
| Profit (loss) carried forward | 14 | -€176,253 | -€214,726 | -€38,473 | -21.8% |
| Amounts payable | 17/49 | €829,246 | €990,188 | +€160,942 | +19.4% |
| Amounts payable after more than one year | 17 | €700,749 | €844,819 | +€144,070 | +20.6% |
| Financial debts | 170/4 | €700,749 | €844,819 | +€144,070 | +20.6% |
| Amounts payable within one year | 42/48 | €123,905 | €139,205 | +€15,300 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €17,253 | €17,979 | +€726 | +4.2% |
| Trade debts | 44 | €17,449 | €21,295 | +€3,845 | +22.0% |
| Suppliers | 440/4 | €17,449 | €21,295 | +€3,845 | +22.0% |
| Taxes, remuneration and social security | 45 | - | €11 | +€11 | |
| Taxes | 450/3 | - | €11 | +€11 | |
| Other amounts payable | 47/48 | €89,203 | €99,920 | +€10,717 | +12.0% |
| Accrued charges and deferred income | 492/3 | €4,591 | €6,164 | +€1,573 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,034 | €34,413 | +€379 | +1.1% |
| Other operating charges | 640/8 | €4,189 | €4,621 | +€432 | +10.3% |
| Gross operating margin | 9900 | €24,072 | €21,456 | -€2,616 | -10.9% |
| Operating profit (loss) | 9901 | -€14,151 | -€17,578 | -€3,427 | -24.2% |
| Financial income | 75/76B | €1,561 | €1,350 | -€211 | -13.5% |
| Recurring financial income | 75 | €1,561 | €1,350 | -€211 | -13.5% |
| Financial charges | 65/66B | €18,285 | €22,245 | +€3,960 | +21.7% |
| Recurring financial charges | 65 | €18,285 | €22,245 | +€3,960 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | -€30,875 | -€38,473 | -€7,598 | -24.6% |
| Profit (loss) for the period | 9904 | -€30,875 | -€38,473 | -€7,598 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,875 | -€38,473 | -€7,598 | -24.6% |
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 25 October 2026 via checked.be.