VARIAL: 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.
VARIAL
Largest movements
- Tangible fixed assets -€15,412
down €15,412 (-19.9%), from €77,448 to €62,036
of which Furniture and vehicles: -€12,334
- Current investments +€6,130
up €6,130 (+35.4%), from €17,337 to €23,466
- Receivables within one year +€4,004
up €4,004 (+185%), from €2,165 to €6,169
of which Other amounts receivable: +€6,169
- Current portion of long-term debt -€7,677
down €7,677 (-59.9%), from €12,812 to €5,136
- Debts after one year -€5,136
down €5,136 (-14.5%), from €35,305 to €30,170
of which Financial debts: -€4,142
- Trade debts +€4,735
up €4,735 (+66.2%), from €7,150 to €11,885
- Profit (loss) carried forward -€2,216
new in 2025: -€2,216
- Gross operating margin -€45,122
down €45,122 (-72.0%), from €62,660 to €17,539
- Taxes -€11,312
down €11,312 (-90.5%), from €12,499 to €1,187
- Financial charges -€1,428
down €1,428 (-54.9%), from €2,598 to €1,171
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 | €180,281 | €173,595 | -€6,686 | -3.7% |
| Fixed assets | 21/28 | €77,448 | €62,036 | -€15,412 | -19.9% |
| Tangible fixed assets | 22/27 | €77,448 | €62,036 | -€15,412 | -19.9% |
| Land and buildings | 22 | €39,921 | €36,850 | -€3,071 | -7.7% |
| Plant, machinery and equipment | 23 | €7 | - | -€7 | |
| Furniture and vehicles | 24 | €37,520 | €25,186 | -€12,334 | -32.9% |
| Current assets | 29/58 | €102,833 | €111,559 | +€8,726 | +8.5% |
| Amounts receivable within one year | 40/41 | €2,165 | €6,169 | +€4,004 | +185% |
| Trade receivables | 40 | €2,165 | - | -€2,165 | |
| Other amounts receivable | 41 | - | €6,169 | +€6,169 | |
| Current investments | 50/53 | €17,337 | €23,466 | +€6,130 | +35.4% |
| Cash at bank and in hand | 54/58 | €82,654 | €81,204 | -€1,450 | -1.8% |
| Deferred charges and accrued income | 490/1 | €678 | €720 | +€42 | +6.2% |
| Total equity and liabilities | 10/49 | €180,281 | €173,595 | -€6,686 | -3.7% |
| Equity | 10/15 | €109,839 | €107,623 | -€2,216 | -2.0% |
| Reserves | 13 | €109,839 | €109,839 | = | 0.0% |
| Distributable reserves | 133 | €109,839 | €109,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,216 | -€2,216 | |
| Amounts payable | 17/49 | €70,442 | €65,972 | -€4,470 | -6.3% |
| Amounts payable after more than one year | 17 | €35,305 | €30,170 | -€5,136 | -14.5% |
| Financial debts | 170/4 | €34,312 | €30,170 | -€4,142 | -12.1% |
| Other amounts payable | 178/9 | €993 | - | -€993 | |
| Amounts payable within one year | 42/48 | €34,311 | €35,475 | +€1,164 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €12,812 | €5,136 | -€7,677 | -59.9% |
| Trade debts | 44 | €7,150 | €11,885 | +€4,735 | +66.2% |
| Suppliers | 440/4 | €7,150 | €11,885 | +€4,735 | +66.2% |
| Advances received on contracts in progress | 46 | - | €1,736 | +€1,736 | |
| Taxes, remuneration and social security | 45 | €7,078 | €8,269 | +€1,191 | +16.8% |
| Taxes | 450/3 | €7,078 | €5,700 | -€1,378 | -19.5% |
| Remuneration and social security | 454/9 | - | €2,569 | +€2,569 | |
| Other amounts payable | 47/48 | €7,271 | €8,450 | +€1,179 | +16.2% |
| Accrued charges and deferred income | 492/3 | €826 | €327 | -€499 | -60.4% |
| Remuneration, social security and pensions | 62 | €185 | - | -€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,818 | €15,412 | -€406 | -2.6% |
| Other operating charges | 640/8 | €2,105 | €2,171 | +€67 | +3.2% |
| Gross operating margin | 9900 | €62,660 | €17,539 | -€45,122 | -72.0% |
| Operating profit (loss) | 9901 | €44,553 | -€44 | -€44,597 | |
| Financial income | 75/76B | €60 | €185 | +€125 | +208% |
| Recurring financial income | 75 | €60 | €185 | +€125 | +208% |
| Financial charges | 65/66B | €2,598 | €1,171 | -€1,428 | -54.9% |
| Recurring financial charges | 65 | €2,598 | €1,171 | -€1,428 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €42,014 | -€1,030 | -€43,044 | |
| Income taxes | 67/77 | €12,499 | €1,187 | -€11,312 | -90.5% |
| Profit (loss) for the period | 9904 | €29,516 | -€2,216 | -€31,732 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,516 | -€2,216 | -€31,732 |
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 13 October 2026 via checked.be.