VARIOS: 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.
VARIOS
Largest movements
- Tangible fixed assets +€39,954
up €39,954 (+15.6%), from €256,490 to €296,445
of which Leasing and similar rights: +€24,514
- Deferred charges and accrued income +€6,302
up €6,302 (+462%), from €1,363 to €7,665
- Cash -€5,885
down €5,885 (-40.1%), from €14,680 to €8,795
mainly Investment in fixed assets (net) (-€82,616) and Deferred charges and accrued income (-€6,302)
- Receivables within one year +€5,658
up €5,658 (+7.6%), from €74,015 to €79,673
of which Trade receivables: +€5,114
- Current portion of long-term debt +€21,984
up €21,984 (+43.8%), from €50,185 to €72,169
- Debts after one year +€15,919
up €15,919 (+13.5%), from €118,332 to €134,252
- Other debts -€5,818
down €5,818 (-60.6%), from €9,593 to €3,775
- Short-term financial debts +€5,296
up €5,296 (+35.9%), from €14,756 to €20,052
- Gross operating margin +€27,446
up €27,446 (+10.0%), from €275,547 to €302,992
- Staff costs +€19,833
up €19,833 (+9.0%), from €220,150 to €239,983
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 | €360,636 | €406,665 | +€46,029 | +12.8% |
| Fixed assets | 21/28 | €256,769 | €296,723 | +€39,954 | +15.6% |
| Tangible fixed assets | 22/27 | €256,490 | €296,445 | +€39,954 | +15.6% |
| Land and buildings | 22 | €19,434 | €30,003 | +€10,569 | +54.4% |
| Plant, machinery and equipment | 23 | €101,456 | €90,539 | -€10,917 | -10.8% |
| Furniture and vehicles | 24 | €38,792 | €47,055 | +€8,263 | +21.3% |
| Leasing and similar rights | 25 | €72,973 | €97,487 | +€24,514 | +33.6% |
| Other tangible fixed assets | 26 | €23,836 | €31,361 | +€7,526 | +31.6% |
| Financial fixed assets | 28 | €279 | €279 | = | 0.0% |
| Current assets | 29/58 | €103,867 | €109,942 | +€6,075 | +5.8% |
| Stocks and contracts in progress | 3 | €13,809 | €13,809 | = | 0.0% |
| Stocks | 30/36 | €13,809 | €13,809 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €74,015 | €79,673 | +€5,658 | +7.6% |
| Trade receivables | 40 | €63,212 | €68,326 | +€5,114 | +8.1% |
| Other amounts receivable | 41 | €10,803 | €11,347 | +€544 | +5.0% |
| Cash at bank and in hand | 54/58 | €14,680 | €8,795 | -€5,885 | -40.1% |
| Deferred charges and accrued income | 490/1 | €1,363 | €7,665 | +€6,302 | +462% |
| Total equity and liabilities | 10/49 | €360,636 | €406,665 | +€46,029 | +12.8% |
| Equity | 10/15 | €61,109 | €63,776 | +€2,666 | +4.4% |
| Contributions | 10/11 | €32,200 | €32,200 | = | 0.0% |
| Reserves | 13 | €28,909 | €31,576 | +€2,666 | +9.2% |
| Non-distributable reserves | 130/1 | €3,220 | €3,220 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,220 | €3,220 | = | 0.0% |
| Distributable reserves | 133 | €25,689 | €28,356 | +€2,666 | +10.4% |
| Amounts payable | 17/49 | €299,527 | €342,890 | +€43,363 | +14.5% |
| Amounts payable after more than one year | 17 | €118,332 | €134,252 | +€15,919 | +13.5% |
| Financial debts | 170/4 | €118,332 | €134,252 | +€15,919 | +13.5% |
| Amounts payable within one year | 42/48 | €181,195 | €208,638 | +€27,443 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €50,185 | €72,169 | +€21,984 | +43.8% |
| Financial debts | 43 | €14,756 | €20,052 | +€5,296 | +35.9% |
| Credit institutions | 430/8 | €14,756 | €20,052 | +€5,296 | +35.9% |
| Trade debts | 44 | €81,351 | €83,875 | +€2,524 | +3.1% |
| Suppliers | 440/4 | €81,351 | €83,875 | +€2,524 | +3.1% |
| Taxes, remuneration and social security | 45 | €25,309 | €28,767 | +€3,457 | +13.7% |
| Taxes | 450/3 | €759 | €4,826 | +€4,068 | +536% |
| Remuneration and social security | 454/9 | €24,551 | €23,940 | -€611 | -2.5% |
| Other amounts payable | 47/48 | €9,593 | €3,775 | -€5,818 | -60.6% |
| Remuneration, social security and pensions | 62 | €220,150 | €239,983 | +€19,833 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,707 | €42,661 | +€2,955 | +7.4% |
| Other operating charges | 640/8 | €1,920 | €2,676 | +€756 | +39.4% |
| Gross operating margin | 9900 | €275,547 | €302,992 | +€27,446 | +10.0% |
| Operating profit (loss) | 9901 | €13,771 | €17,673 | +€3,902 | +28.3% |
| Financial income | 75/76B | €1,006 | €1,015 | +€9 | +0.9% |
| Recurring financial income | 75 | €1,006 | €1,015 | +€9 | +0.9% |
| Financial charges | 65/66B | €13,847 | €14,761 | +€914 | +6.6% |
| Recurring financial charges | 65 | €13,847 | €14,761 | +€914 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €930 | €3,927 | +€2,997 | +322% |
| Income taxes | 67/77 | €841 | €1,260 | +€420 | +49.9% |
| Profit (loss) for the period | 9904 | €90 | €2,666 | +€2,577 | +2,875% |
| Profit (loss) for the period to be appropriated | 9905 | €90 | €2,666 | +€2,577 | +2,875% |
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 22 October 2026 via checked.be.