VAROK: 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.
VAROK
Largest movements
- Receivables within one year -€25,660
down €25,660 (-96.6%), from €26,556 to €896
- Cash +€15,632
up €15,632 (+27.6%), from €56,585 to €72,217
mainly Receivables within one year (+€25,660) and Net result for the year (+€14,891)
- Tangible fixed assets -€6,615
down €6,615 (-4.2%), from €157,059 to €150,444
of which Land and buildings: -€4,396
- Trade debts -€35,246
down €35,246 (-95.9%), from €36,751 to €1,505
- Reserves +€14,891
up €14,891 (+27.8%), from €53,592 to €68,482
of which Distributable reserves: +€15,381
- Tax, wage and social debts +€6,384
up €6,384 (+264.1%), from €2,417 to €8,802
- Debts after one year -€3,899
down €3,899 (-15.3%), from €25,525 to €21,626
of which Financial debts: -€5,099
- Gross operating margin +€14,424
up €14,424 (+47.8%), from €30,177 to €44,601
- Taxes +€3,941
up €3,941 (+106.4%), from €3,705 to €7,646
- Depreciation +€3,217
up €3,217 (+29.7%), from €10,820 to €14,037
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 | €241,315 | €223,593 | -€17,721 | -7.3% |
| Fixed assets | 21/28 | €157,059 | €150,444 | -€6,615 | -4.2% |
| Tangible fixed assets | 22/27 | €157,059 | €150,444 | -€6,615 | -4.2% |
| Land and buildings | 22 | €147,882 | €143,487 | -€4,396 | -3.0% |
| Plant, machinery and equipment | 23 | €7,249 | €5,635 | -€1,614 | -22.3% |
| Furniture and vehicles | 24 | €910 | €523 | -€387 | -42.5% |
| Other tangible fixed assets | 26 | €1,018 | €799 | -€219 | -21.5% |
| Current assets | 29/58 | €84,256 | €73,150 | -€11,106 | -13.2% |
| Amounts receivable within one year | 40/41 | €26,556 | €896 | -€25,660 | -96.6% |
| Trade receivables | 40 | €26,556 | €896 | -€25,660 | -96.6% |
| Cash at bank and in hand | 54/58 | €56,585 | €72,217 | +€15,632 | +27.6% |
| Deferred charges and accrued income | 490/1 | €1,115 | €37 | -€1,079 | -96.7% |
| Total equity and liabilities | 10/49 | €241,315 | €223,593 | -€17,721 | -7.3% |
| Equity | 10/15 | €111,686 | €126,576 | +€14,891 | +13.3% |
| Contributions | 10/11 | €53,875 | €53,875 | = | 0.0% |
| Reserves | 13 | €53,592 | €68,482 | +€14,891 | +27.8% |
| Non-distributable reserves | 130/1 | €490 | €0 | -€490 | -100.0% |
| Reserves not available under the articles | 1311 | €490 | €0 | -€490 | -100.0% |
| Distributable reserves | 133 | €53,102 | €68,482 | +€15,381 | +29.0% |
| Profit (loss) carried forward | 14 | €4,219 | €4,219 | = | 0.0% |
| Amounts payable | 17/49 | €129,629 | €97,017 | -€32,612 | -25.2% |
| Amounts payable after more than one year | 17 | €25,525 | €21,626 | -€3,899 | -15.3% |
| Financial debts | 170/4 | €21,325 | €16,226 | -€5,099 | -23.9% |
| Other amounts payable | 178/9 | €4,200 | €5,400 | +€1,200 | +28.6% |
| Amounts payable within one year | 42/48 | €104,103 | €75,391 | -€28,712 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €4,884 | €5,099 | +€215 | +4.4% |
| Trade debts | 44 | €36,751 | €1,505 | -€35,246 | -95.9% |
| Suppliers | 440/4 | €36,751 | €1,505 | -€35,246 | -95.9% |
| Taxes, remuneration and social security | 45 | €2,417 | €8,802 | +€6,384 | +264.1% |
| Taxes | 450/3 | €2,417 | €8,802 | +€6,384 | +264.1% |
| Other amounts payable | 47/48 | €60,051 | €59,984 | -€67 | -0.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,820 | €14,037 | +€3,217 | +29.7% |
| Other operating charges | 640/8 | €3,059 | €3,124 | +€65 | +2.1% |
| Gross operating margin | 9900 | €30,177 | €44,601 | +€14,424 | +47.8% |
| Operating profit (loss) | 9901 | €16,299 | €27,441 | +€11,142 | +68.4% |
| Financial income | 75/76B | €118 | €336 | +€218 | +184.1% |
| Recurring financial income | 75 | €118 | €336 | +€218 | +184.1% |
| Financial charges | 65/66B | €4,986 | €5,240 | +€253 | +5.1% |
| Recurring financial charges | 65 | €4,986 | €5,240 | +€253 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €11,430 | €22,537 | +€11,106 | +97.2% |
| Income taxes | 67/77 | €3,705 | €7,646 | +€3,941 | +106.4% |
| Profit (loss) for the period | 9904 | €7,725 | €14,891 | +€7,165 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,725 | €14,891 | +€7,165 | +92.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.