VAROO: 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.
VAROO
Largest movements
- Tangible fixed assets -€13,454
down €13,454 (-21.5%), from €62,598 to €49,144
of which Plant, machinery and equipment: -€12,040
- Receivables within one year +€11,932
up €11,932 (+24.2%), from €49,353 to €61,285
of which Other amounts receivable: +€12,677
- Cash +€10,898
up €10,898 (+99.4%), from €10,969 to €21,867
mainly Net result for the year (+€26,396) and Depreciation (+€13,454)
- Stocks and contracts +€9,810
up €9,810 (+221.0%), from €4,438 to €14,248
- Reserves +€23,771
up €23,771 (+46.6%), from €50,987 to €74,758
- Trade debts -€8,642
down €8,642 (-78.5%), from €11,005 to €2,364
- Other debts +€2,625
new in 2025: €2,625
- Tax, wage and social debts +€2,430
up €2,430 (+39.0%), from €6,230 to €8,660
of which Taxes: +€1,420
- Gross operating margin +€11,894
up €11,894 (+23.5%), from €50,540 to €62,434
- Depreciation +€8,967
up €8,967 (+199.8%), from €4,487 to €13,454
- Staff costs +€5,965
new in 2025: €5,965
- Taxes +€1,233
up €1,233 (+10.4%), from €11,860 to €13,093
- Financial charges +€919
up €919 (+45.9%), from €2,003 to €2,922
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 | €128,449 | €149,017 | +€20,569 | +16.0% |
| Fixed assets | 21/28 | €62,598 | €49,144 | -€13,454 | -21.5% |
| Tangible fixed assets | 22/27 | €62,598 | €49,144 | -€13,454 | -21.5% |
| Plant, machinery and equipment | 23 | €56,807 | €44,767 | -€12,040 | -21.2% |
| Furniture and vehicles | 24 | €2,366 | €1,420 | -€946 | -40.0% |
| Other tangible fixed assets | 26 | €3,425 | €2,957 | -€468 | -13.7% |
| Current assets | 29/58 | €65,851 | €99,874 | +€34,023 | +51.7% |
| Stocks and contracts in progress | 3 | €4,438 | €14,248 | +€9,810 | +221.0% |
| Stocks | 30/36 | €4,438 | €14,248 | +€9,810 | +221.0% |
| Amounts receivable within one year | 40/41 | €49,353 | €61,285 | +€11,932 | +24.2% |
| Trade receivables | 40 | €40,587 | €39,841 | -€746 | -1.8% |
| Other amounts receivable | 41 | €8,766 | €21,443 | +€12,677 | +144.6% |
| Cash at bank and in hand | 54/58 | €10,969 | €21,867 | +€10,898 | +99.4% |
| Deferred charges and accrued income | 490/1 | €1,091 | €2,474 | +€1,383 | +126.8% |
| Total equity and liabilities | 10/49 | €128,449 | €149,017 | +€20,569 | +16.0% |
| Equity | 10/15 | €105,987 | €129,758 | +€23,771 | +22.4% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €50,987 | €74,758 | +€23,771 | +46.6% |
| Distributable reserves | 133 | €50,987 | €74,758 | +€23,771 | +46.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,462 | €19,259 | -€3,202 | -14.3% |
| Amounts payable after more than one year | 17 | €5,226 | €5,611 | +€385 | +7.4% |
| Other amounts payable | 178/9 | €5,226 | €5,611 | +€385 | +7.4% |
| Amounts payable within one year | 42/48 | €17,236 | €13,649 | -€3,587 | -20.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,005 | €2,364 | -€8,642 | -78.5% |
| Suppliers | 440/4 | €11,005 | €2,364 | -€8,642 | -78.5% |
| Taxes, remuneration and social security | 45 | €6,230 | €8,660 | +€2,430 | +39.0% |
| Taxes | 450/3 | €4,220 | €5,640 | +€1,420 | +33.6% |
| Remuneration and social security | 454/9 | €2,010 | €3,020 | +€1,010 | +50.2% |
| Other amounts payable | 47/48 | - | €2,625 | +€2,625 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €3,310 | €0 | -€3,310 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €5,965 | +€5,965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,487 | €13,454 | +€8,967 | +199.8% |
| Other operating charges | 640/8 | €714 | €655 | -€59 | -8.2% |
| Non-recurring operating charges | 66A | €326 | €0 | -€326 | -100.0% |
| Gross operating margin | 9900 | €50,540 | €62,434 | +€11,894 | +23.5% |
| Operating profit (loss) | 9901 | €45,012 | €42,360 | -€2,652 | -5.9% |
| Financial income | 75/76B | €108 | €51 | -€57 | -53.0% |
| Recurring financial income | 75 | €108 | €51 | -€57 | -53.0% |
| Financial charges | 65/66B | €2,003 | €2,922 | +€919 | +45.9% |
| Recurring financial charges | 65 | €2,003 | €2,922 | +€919 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €43,116 | €39,488 | -€3,628 | -8.4% |
| Income taxes | 67/77 | €11,860 | €13,093 | +€1,233 | +10.4% |
| Profit (loss) for the period | 9904 | €31,257 | €26,396 | -€4,861 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,257 | €26,396 | -€4,861 | -15.6% |
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 12 October 2026 via checked.be.