Varesco: 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.
Varesco
Largest movements
- Tangible fixed assets +€305,823
up €305,823 (+26.3%), from €1.2m to €1.5m
of which Land and buildings: +€311,608
- Receivables within one year -€95,028
down €95,028 (-20.1%), from €472,515 to €377,487
of which Other amounts receivable: -€94,914
- Cash -€83,828
down €83,828 (-65.6%), from €127,708 to €43,881
mainly Investment in fixed assets (net) (-€385,060) and Debts after one year (-€40,000)
- Profit (loss) carried forward +€172,556
up €172,556 (+55.7%), from €309,584 to €482,140
- Debts after one year -€40,000
down €40,000 (-7.0%), from €573,333 to €533,333
- Gross operating margin +€348,740
up €348,740, from -€84,652 to €264,087
- Depreciation +€53,321
up €53,321 (+206%), from €25,916 to €79,237
- Financial charges +€15,387
up €15,387 (+123%), from €12,547 to €27,934
- Taxes -€3,446
down €3,446 (-95.2%), from €3,619 to €174
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 | €2,027,508 | €2,143,890 | +€116,382 | +5.7% |
| Fixed assets | 21/28 | €1,161,574 | €1,467,397 | +€305,823 | +26.3% |
| Tangible fixed assets | 22/27 | €1,161,574 | €1,467,397 | +€305,823 | +26.3% |
| Land and buildings | 22 | €1,148,960 | €1,460,567 | +€311,608 | +27.1% |
| Plant, machinery and equipment | 23 | €3,947 | €2,771 | -€1,176 | -29.8% |
| Furniture and vehicles | 24 | €8,668 | €4,059 | -€4,609 | -53.2% |
| Current assets | 29/58 | €865,934 | €676,493 | -€189,441 | -21.9% |
| Amounts receivable within one year | 40/41 | €472,515 | €377,487 | -€95,028 | -20.1% |
| Trade receivables | 40 | €114 | - | -€114 | |
| Other amounts receivable | 41 | €472,401 | €377,487 | -€94,914 | -20.1% |
| Current investments | 50/53 | €155,882 | €155,882 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127,708 | €43,881 | -€83,828 | -65.6% |
| Deferred charges and accrued income | 490/1 | €109,829 | €99,243 | -€10,586 | -9.6% |
| Total equity and liabilities | 10/49 | €2,027,508 | €2,143,890 | +€116,382 | +5.7% |
| Equity | 10/15 | €1,376,115 | €1,533,561 | +€157,446 | +11.4% |
| Contributions | 10/11 | €803,126 | €803,126 | = | 0.0% |
| Capital | 10 | €803,126 | €803,126 | = | 0.0% |
| Issued capital | 100 | €803,126 | €803,126 | = | 0.0% |
| Reserves | 13 | €263,404 | €248,295 | -€15,109 | -5.7% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €206,493 | €191,384 | -€15,109 | -7.3% |
| Distributable reserves | 133 | €6,911 | €6,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309,584 | €482,140 | +€172,556 | +55.7% |
| Provisions and deferred taxes | 16 | €68,831 | €63,795 | -€5,036 | -7.3% |
| Deferred taxes | 168 | €68,831 | €63,795 | -€5,036 | -7.3% |
| Amounts payable | 17/49 | €582,563 | €546,535 | -€36,028 | -6.2% |
| Amounts payable after more than one year | 17 | €573,333 | €533,333 | -€40,000 | -7.0% |
| Financial debts | 170/4 | €573,333 | €533,333 | -€40,000 | -7.0% |
| Amounts payable within one year | 42/48 | €8,630 | €7,651 | -€978 | -11.3% |
| Trade debts | 44 | €3,322 | €1,948 | -€1,373 | -41.3% |
| Suppliers | 440/4 | €3,322 | €1,948 | -€1,373 | -41.3% |
| Taxes, remuneration and social security | 45 | €592 | €987 | +€395 | +66.7% |
| Taxes | 450/3 | €182 | €356 | +€174 | +95.5% |
| Remuneration and social security | 454/9 | €410 | €632 | +€221 | +54.0% |
| Other amounts payable | 47/48 | €4,716 | €4,716 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €600 | €5,550 | +€4,950 | +825% |
| Non-recurring operating income | 76A | - | €320,000 | +€320,000 | |
| Remuneration, social security and pensions | 62 | €6,731 | €5,491 | -€1,240 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,916 | €79,237 | +€53,321 | +206% |
| Other operating charges | 640/8 | €1,548 | €1,601 | +€53 | +3.4% |
| Gross operating margin | 9900 | -€84,652 | €264,087 | +€348,740 | |
| Operating profit (loss) | 9901 | -€118,847 | €177,759 | +€296,606 | |
| Financial income | 75/76B | €2,037 | €2,759 | +€722 | +35.4% |
| Recurring financial income | 75 | €2,037 | €2,759 | +€722 | +35.4% |
| Financial charges | 65/66B | €12,547 | €27,934 | +€15,387 | +123% |
| Recurring financial charges | 65 | €12,547 | €27,934 | +€15,387 | +123% |
| Profit (loss) for the period before taxes | 9903 | -€129,357 | €152,584 | +€281,940 | |
| Transfer from deferred taxes | 780 | €1,974 | €5,036 | +€3,063 | +155% |
| Income taxes | 67/77 | €3,619 | €174 | -€3,446 | -95.2% |
| Profit (loss) for the period | 9904 | -€131,002 | €157,446 | +€288,448 | |
| Transfer from tax-exempt reserves | 789 | €5,922 | €15,109 | +€9,188 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,080 | €172,556 | +€297,636 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.