VAROB: what changed
Two fiscal 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.
VAROB
Largest movements
- Tangible fixed assets +€80,141
up €80,141 (+25.5%), from €314,822 to €394,963
- Cash +€32,858
up €32,858 (+25.1%), from €131,085 to €163,943
mainly Other debts (+€126,028) and Depreciation (+€19,282)
- Other debts +€126,028
up €126,028 (+99.5%), from €126,721 to €252,749
- Debts after one year -€25,129
down €25,129 (-9.3%), from €269,563 to €244,434
- Profit (loss) carried forward +€12,012
up €12,012 (+200.6%), from €5,989 to €18,001
- Depreciation -€64,910
down €64,910 (-77.1%), from €84,192 to €19,282
- Gross operating margin -€25,011
down €25,011 (-38.0%), from €65,769 to €40,758
- Taxes +€754
new in 2025: €754
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
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 | €445,907 | €558,906 | +€112,999 | +25.3% |
| Fixed assets | 21/28 | €314,822 | €394,963 | +€80,141 | +25.5% |
| Tangible fixed assets | 22/27 | €314,822 | €394,963 | +€80,141 | +25.5% |
| Land and buildings | 22 | €314,822 | €394,963 | +€80,141 | +25.5% |
| Current assets | 29/58 | €131,085 | €163,943 | +€32,858 | +25.1% |
| Cash at bank and in hand | 54/58 | €131,085 | €163,943 | +€32,858 | +25.1% |
| Total equity and liabilities | 10/49 | €445,907 | €558,906 | +€112,999 | +25.3% |
| Equity | 10/15 | €24,581 | €36,593 | +€12,012 | +48.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,989 | €18,001 | +€12,012 | +200.6% |
| Amounts payable | 17/49 | €421,326 | €522,313 | +€100,987 | +24.0% |
| Amounts payable after more than one year | 17 | €269,563 | €244,434 | -€25,129 | -9.3% |
| Financial debts | 170/4 | €269,563 | €244,434 | -€25,129 | -9.3% |
| Amounts payable within one year | 42/48 | €151,512 | €277,879 | +€126,367 | +83.4% |
| Current portion of amounts payable after more than one year | 42 | €24,491 | €25,130 | +€639 | +2.6% |
| Trade debts | 44 | €300 | - | -€300 | |
| Suppliers | 440/4 | €300 | - | -€300 | |
| Other amounts payable | 47/48 | €126,721 | €252,749 | +€126,028 | +99.5% |
| Accrued charges and deferred income | 492/3 | €251 | - | -€251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,192 | €19,282 | -€64,910 | -77.1% |
| Gross operating margin | 9900 | €65,769 | €40,758 | -€25,011 | -38.0% |
| Operating profit (loss) | 9901 | -€18,423 | €21,476 | +€39,899 | |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €9,082 | €8,710 | -€372 | -4.1% |
| Recurring financial charges | 65 | €9,082 | €8,710 | -€372 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,493 | €12,766 | +€40,259 | |
| Income taxes | 67/77 | - | €754 | +€754 | |
| Profit (loss) for the period | 9904 | -€27,493 | €12,012 | +€39,505 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,493 | €12,012 | +€39,505 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.