VAREX: 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.
VAREX
Largest movements
- Financial fixed assets -€936,870
no longer reported in 2025 (was €936,870)
- Tangible fixed assets -€34,305
down €34,305 (-2.3%), from €1.5m to €1.4m
of which Land and buildings: -€31,068
- Profit (loss) carried forward -€1.2m
down €1.2m (-136.4%), from -€845,367 to -€2.0m
- Debts after one year +€206,517
up €206,517 (+12.9%), from €1.6m to €1.8m
- Other debts -€90,368
down €90,368 (-28.1%), from €321,699 to €231,331
- Trade debts +€33,831
up €33,831 (+331.3%), from €10,211 to €44,043
- Tax, wage and social debts +€26,330
up €26,330 (+61.5%), from €42,785 to €69,115
- Financial charges +€908,918
up €908,918 (+1244.9%), from €73,009 to €981,927
of which Non-recurring financial charges: +€936,870
- Write-downs +€261,288
new in 2025: €261,288
- Gross operating margin -€25,623
down €25,623 (-16.9%), from €151,797 to €126,173
- Financial income -€12,494
down €12,494 (-56.0%), from €22,314 to €9,821
of which Financial income: -€22,153
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,405,038 | €1,428,102 | -€976,937 | -40.6% |
| Fixed assets | 21/28 | €2,399,277 | €1,428,102 | -€971,175 | -40.5% |
| Tangible fixed assets | 22/27 | €1,462,407 | €1,428,102 | -€34,305 | -2.3% |
| Land and buildings | 22 | €1,455,932 | €1,424,864 | -€31,068 | -2.1% |
| Furniture and vehicles | 24 | €6,475 | €3,238 | -€3,238 | -50.0% |
| Financial fixed assets | 28 | €936,870 | - | -€936,870 | |
| Current assets | 29/58 | €5,761 | - | -€5,761 | |
| Amounts receivable within one year | 40/41 | €5,761 | - | -€5,761 | |
| Trade receivables | 40 | €5,761 | - | -€5,761 | |
| Total equity and liabilities | 10/49 | €2,405,038 | €1,428,102 | -€976,937 | -40.6% |
| Equity | 10/15 | €434,503 | -€718,744 | -€1.2m | |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,255,870 | €1,255,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€845,367 | -€1,998,614 | -€1.2m | -136.4% |
| Amounts payable | 17/49 | €1,970,536 | €2,146,846 | +€176,310 | +8.9% |
| Amounts payable after more than one year | 17 | €1,595,840 | €1,802,357 | +€206,517 | +12.9% |
| Financial debts | 170/4 | €1,595,840 | €1,802,357 | +€206,517 | +12.9% |
| Amounts payable within one year | 42/48 | €374,696 | €344,489 | -€30,207 | -8.1% |
| Trade debts | 44 | €10,211 | €44,043 | +€33,831 | +331.3% |
| Suppliers | 440/4 | €10,211 | €44,043 | +€33,831 | +331.3% |
| Taxes, remuneration and social security | 45 | €42,785 | €69,115 | +€26,330 | +61.5% |
| Taxes | 450/3 | €42,785 | €69,115 | +€26,330 | +61.5% |
| Other amounts payable | 47/48 | €321,699 | €231,331 | -€90,368 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,305 | €34,305 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €261,288 | +€261,288 | |
| Other operating charges | 640/8 | €11,572 | €11,720 | +€149 | +1.3% |
| Gross operating margin | 9900 | €151,797 | €126,173 | -€25,623 | -16.9% |
| Operating profit (loss) | 9901 | €105,920 | -€181,140 | -€287,059 | |
| Financial income | 75/76B | €22,314 | €9,821 | -€12,494 | -56.0% |
| Recurring financial income | 75 | €22,314 | €161 | -€22,153 | -99.3% |
| Non-recurring financial income | 76B | €22,314 | €9,660 | -€12,655 | -56.7% |
| Financial charges | 65/66B | €73,009 | €981,927 | +€908,918 | +1244.9% |
| Recurring financial charges | 65 | €73,009 | €45,057 | -€27,952 | -38.3% |
| Non-recurring financial charges | 66B | - | €936,870 | +€936,870 | |
| Profit (loss) for the period before taxes | 9903 | €55,225 | -€1,153,246 | -€1.2m | |
| Profit (loss) for the period | 9904 | €55,225 | -€1,153,246 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €55,225 | -€1,153,246 | -€1.2m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.