VARIMO: 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.
What changed
VARIMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€195,640
2024 · €142,018+€53,622
Equity
€1.8m
2024 · €1.6m+€195,640
Cash
€359,834
2024 · €156,313+€203,521
Balance sheet total
€6.7m
2024 · €6.8m-€92,908
Largest movements
Assets
- Tangible fixed assets -€237,401
down €237,401 (-3.8%), from €6.3m to €6.0m
of which Land and buildings: -€238,374
- Cash +€203,521
up €203,521 (+130%), from €156,313 to €359,834
mainly Depreciation (+€241,084) and Net result for the year (+€195,640)
Equity and liabilities
- Debts after one year -€218,815
down €218,815 (-10.0%), from €2.2m to €2.0m
- Reserves +€195,640
up €195,640 (+71.2%), from €274,953 to €470,593
of which Distributable reserves: +€201,530
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
Income statement
- Other operating charges -€46,417
down €46,417 (-45.4%), from €102,175 to €55,758
- Taxes +€27,123
up €27,123 (+37.4%), from €72,593 to €99,717
- Depreciation -€23,015
down €23,015 (-8.7%), from €264,099 to €241,084
- Financial charges -€7,475
down €7,475 (-5.5%), from €135,448 to €127,973
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.
Result 2024
€142,018
Gross operating margin
+€3,746
Depreciation
+€23,015
Other operating charges
+€46,417
Financial income
+€92
Financial charges
+€7,475
Taxes
-€27,123
Result 2025
€195,640
raises the resultlowers the result
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.
From operations
+€522,918
Investment
-€3,683
Financing
-€315,714
Cash 2024
€156,313
From operations (derived)
+€522,918
Net result for the year
+€195,640
Depreciation
+€241,084
Receivables within one year
+€952
Deferred charges and accrued income
+€58,077
Provisions
-€3,033
Trade debts
-€36,547
Tax, wage and social debts
+€30,540
Other debts
+€13,646
Accrued charges and deferred income
+€22,559
Investment (derived)
-€3,683
Investment in fixed assets (net)
-€3,683
Financing
-€315,714
Debts after one year
-€218,815
Current portion of long-term debt
+€3,101
Short-term financial debts
-€100,000
Cash 2025
€359,834
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,777,965 | €6,685,057 | -€92,908 | -1.4% |
| Fixed assets | 21/28 | €6,442,357 | €6,204,957 | -€237,401 | -3.7% |
| Tangible fixed assets | 22/27 | €6,269,592 | €6,032,192 | -€237,401 | -3.8% |
| Land and buildings | 22 | €6,260,833 | €6,022,459 | -€238,374 | -3.8% |
| Furniture and vehicles | 24 | €8,760 | €9,733 | +€973 | +11.1% |
| Financial fixed assets | 28 | €172,765 | €172,765 | = | 0.0% |
| Current assets | 29/58 | €335,608 | €480,101 | +€144,493 | +43.1% |
| Amounts receivable within one year | 40/41 | €107,249 | €106,297 | -€952 | -0.9% |
| Trade receivables | 40 | €107,210 | €106,258 | -€953 | -0.9% |
| Other amounts receivable | 41 | €38 | €39 | +€1 | +1.3% |
| Cash at bank and in hand | 54/58 | €156,313 | €359,834 | +€203,521 | +130% |
| Deferred charges and accrued income | 490/1 | €72,046 | €13,970 | -€58,077 | -80.6% |
| Total equity and liabilities | 10/49 | €6,777,965 | €6,685,057 | -€92,908 | -1.4% |
| Equity | 10/15 | €1,573,619 | €1,769,259 | +€195,640 | +12.4% |
| Contributions | 10/11 | €61,502 | €61,502 | = | 0.0% |
| Capital | 10 | €61,502 | €61,502 | = | 0.0% |
| Issued capital | 100 | €61,502 | €61,502 | = | 0.0% |
| Revaluation surpluses | 12 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €274,953 | €470,593 | +€195,640 | +71.2% |
| Non-distributable reserves | 130/1 | €23,228 | €23,228 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,833 | €10,833 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,449 | €23,559 | -€5,890 | -20.0% |
| Distributable reserves | 133 | €222,276 | €423,806 | +€201,530 | +90.7% |
| Profit (loss) carried forward | 14 | €1,207,164 | €1,207,164 | = | 0.0% |
| Provisions and deferred taxes | 16 | €15,164 | €12,131 | -€3,033 | -20.0% |
| Deferred taxes | 168 | €15,164 | €12,131 | -€3,033 | -20.0% |
| Amounts payable | 17/49 | €5,189,183 | €4,903,667 | -€285,516 | -5.5% |
| Amounts payable after more than one year | 17 | €2,181,492 | €1,962,677 | -€218,815 | -10.0% |
| Financial debts | 170/4 | €2,181,492 | €1,962,677 | -€218,815 | -10.0% |
| Amounts payable within one year | 42/48 | €2,888,076 | €2,798,816 | -€89,260 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €215,714 | €218,815 | +€3,101 | +1.4% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €72,819 | €36,272 | -€36,547 | -50.2% |
| Suppliers | 440/4 | €72,819 | €36,272 | -€36,547 | -50.2% |
| Taxes, remuneration and social security | 45 | €46,543 | €77,083 | +€30,540 | +65.6% |
| Taxes | 450/3 | €46,543 | €77,083 | +€30,540 | +65.6% |
| Other amounts payable | 47/48 | €2,453,001 | €2,466,647 | +€13,646 | +0.6% |
| Accrued charges and deferred income | 492/3 | €119,614 | €142,174 | +€22,559 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264,099 | €241,084 | -€23,015 | -8.7% |
| Other operating charges | 640/8 | €102,175 | €55,758 | -€46,417 | -45.4% |
| Gross operating margin | 9900 | €712,243 | €715,988 | +€3,746 | +0.5% |
| Operating profit (loss) | 9901 | €345,968 | €419,146 | +€73,178 | +21.2% |
| Financial income | 75/76B | €1,059 | €1,151 | +€92 | +8.7% |
| Recurring financial income | 75 | €1,059 | €1,151 | +€92 | +8.7% |
| Financial charges | 65/66B | €135,448 | €127,973 | -€7,475 | -5.5% |
| Recurring financial charges | 65 | €135,448 | €127,973 | -€7,475 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €211,579 | €292,324 | +€80,745 | +38.2% |
| Transfer from deferred taxes | 780 | €3,033 | €3,033 | = | 0.0% |
| Income taxes | 67/77 | €72,593 | €99,717 | +€27,123 | +37.4% |
| Profit (loss) for the period | 9904 | €142,018 | €195,640 | +€53,622 | +37.8% |
| Transfer from tax-exempt reserves | 789 | €5,890 | €5,890 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €147,908 | €201,530 | +€53,622 | +36.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.