VARITAPE: 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.
VARITAPE
Largest movements
- Tangible fixed assets -€557,259
down €557,259 (-81.6%), from €682,653 to €125,394
of which Land and buildings: -€538,740
- Cash +€140,017
up €140,017 (+43.6%), from €321,466 to €461,483
mainly Investment in fixed assets (net) (+€520,884) and Net result for the year (+€196,544)
- Stocks and contracts -€66,060
down €66,060 (-13.7%), from €480,815 to €414,755
- Receivables within one year +€20,573
up €20,573 (+3.7%), from €563,202 to €583,775
of which Trade receivables: +€50,870
- Reserves -€327,060
down €327,060 (-21.8%), from €1.5m to €1.2m
- Trade debts -€96,099
down €96,099 (-28.9%), from €332,407 to €236,307
- Contributions -€53,918
down €53,918 (-34.8%), from €155,000 to €101,082
- Other debts +€27,867
up €27,867 (+901%), from €3,092 to €30,959
- Gross operating margin +€76,115
up €76,115 (+11.4%), from €670,207 to €746,322
- Depreciation -€33,681
down €33,681 (-48.1%), from €70,056 to €36,375
- Taxes +€31,987
up €31,987 (+91.7%), from €34,896 to €66,883
- Staff costs -€11,993
down €11,993 (-2.7%), from €442,884 to €430,891
- Financial income +€10,843
up €10,843 (+15,490,600%), from €0 to €10,843
of which Financial income: +€6,602
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 | €2,052,886 | €1,590,052 | -€462,834 | -22.5% |
| Fixed assets | 21/28 | €682,653 | €125,394 | -€557,259 | -81.6% |
| Tangible fixed assets | 22/27 | €682,653 | €125,394 | -€557,259 | -81.6% |
| Land and buildings | 22 | €577,522 | €38,782 | -€538,740 | -93.3% |
| Plant, machinery and equipment | 23 | €35,749 | €32,560 | -€3,189 | -8.9% |
| Furniture and vehicles | 24 | €69,382 | €54,052 | -€15,330 | -22.1% |
| Current assets | 29/58 | €1,370,233 | €1,464,658 | +€94,424 | +6.9% |
| Stocks and contracts in progress | 3 | €480,815 | €414,755 | -€66,060 | -13.7% |
| Stocks | 30/36 | €480,815 | €414,755 | -€66,060 | -13.7% |
| Amounts receivable within one year | 40/41 | €563,202 | €583,775 | +€20,573 | +3.7% |
| Trade receivables | 40 | €527,231 | €578,101 | +€50,870 | +9.6% |
| Other amounts receivable | 41 | €35,971 | €5,674 | -€30,297 | -84.2% |
| Cash at bank and in hand | 54/58 | €321,466 | €461,483 | +€140,017 | +43.6% |
| Deferred charges and accrued income | 490/1 | €4,751 | €4,645 | -€106 | -2.2% |
| Total equity and liabilities | 10/49 | €2,052,886 | €1,590,052 | -€462,834 | -22.5% |
| Equity | 10/15 | €1,658,695 | €1,277,718 | -€380,978 | -23.0% |
| Contributions | 10/11 | €155,000 | €101,082 | -€53,918 | -34.8% |
| Reserves | 13 | €1,503,695 | €1,176,635 | -€327,060 | -21.8% |
| Distributable reserves | 133 | €1,503,695 | €1,176,635 | -€327,060 | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €394,191 | €312,334 | -€81,857 | -20.8% |
| Amounts payable within one year | 42/48 | €394,191 | €312,334 | -€81,857 | -20.8% |
| Trade debts | 44 | €332,407 | €236,307 | -€96,099 | -28.9% |
| Suppliers | 440/4 | €332,407 | €236,307 | -€96,099 | -28.9% |
| Taxes, remuneration and social security | 45 | €58,692 | €45,067 | -€13,624 | -23.2% |
| Taxes | 450/3 | €263 | €7,199 | +€6,935 | +2,633% |
| Remuneration and social security | 454/9 | €58,428 | €37,869 | -€20,560 | -35.2% |
| Other amounts payable | 47/48 | €3,092 | €30,959 | +€27,867 | +901% |
| Remuneration, social security and pensions | 62 | €442,884 | €430,891 | -€11,993 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,056 | €36,375 | -€33,681 | -48.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,636 | +€2,636 | |
| Other operating charges | 640/8 | €21,573 | €22,536 | +€962 | +4.5% |
| Gross operating margin | 9900 | €670,207 | €746,322 | +€76,115 | +11.4% |
| Operating profit (loss) | 9901 | €135,694 | €253,884 | +€118,190 | +87.1% |
| Financial income | 75/76B | €0 | €10,843 | +€10,843 | +15,490,600% |
| Recurring financial income | 75 | €0 | €6,602 | +€6,602 | +9,431,829% |
| Non-recurring financial income | 76B | €0 | €4,241 | +€4,241 | |
| Financial charges | 65/66B | €590 | €1,300 | +€710 | +120% |
| Recurring financial charges | 65 | €590 | €1,300 | +€710 | +120% |
| Profit (loss) for the period before taxes | 9903 | €135,104 | €263,427 | +€128,323 | +95.0% |
| Income taxes | 67/77 | €34,896 | €66,883 | +€31,987 | +91.7% |
| Profit (loss) for the period | 9904 | €100,208 | €196,544 | +€96,336 | +96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,208 | €196,544 | +€96,336 | +96.1% |
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 15 October 2026 via checked.be.