VaroTech: 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.
VaroTech
Largest movements
- Cash +€54,411
up €54,411 (+91.8%), from €59,273 to €113,685
mainly Net result for the year (+€56,875) and Depreciation (+€16,765)
- Tangible fixed assets -€9,804
down €9,804 (-13.8%), from €70,902 to €61,099
of which Furniture and vehicles: -€14,157
- Receivables within one year +€6,384
up €6,384 (+507.4%), from €1,258 to €7,642
of which Other amounts receivable: +€6,384
- Reserves +€56,875
up €56,875 (+115.9%), from €49,067 to €105,941
- Debts after one year -€14,000
down €14,000 (-25.0%), from €56,000 to €42,000
- Tax, wage and social debts +€4,326
up €4,326 (+56.6%), from €7,644 to €11,970
of which Taxes: +€6,886
- Trade debts +€3,840
up €3,840 (+680.5%), from €564 to €4,404
- Gross operating margin +€43,167
up €43,167 (+91.1%), from €47,401 to €90,567
- Depreciation +€8,968
up €8,968 (+115.0%), from €7,797 to €16,765
- Taxes +€3,758
up €3,758 (+34.7%), from €10,842 to €14,600
- Financial charges +€1,975
up €1,975 (+1389.7%), from €142 to €2,118
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 | €132,275 | €183,316 | +€51,040 | +38.6% |
| Fixed assets | 21/28 | €70,902 | €61,099 | -€9,804 | -13.8% |
| Tangible fixed assets | 22/27 | €70,902 | €61,099 | -€9,804 | -13.8% |
| Furniture and vehicles | 24 | €70,902 | €56,745 | -€14,157 | -20.0% |
| Other tangible fixed assets | 26 | - | €4,353 | +€4,353 | |
| Current assets | 29/58 | €61,373 | €122,217 | +€60,844 | +99.1% |
| Amounts receivable within one year | 40/41 | €1,258 | €7,642 | +€6,384 | +507.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,258 | €7,642 | +€6,384 | +507.4% |
| Cash at bank and in hand | 54/58 | €59,273 | €113,685 | +€54,411 | +91.8% |
| Deferred charges and accrued income | 490/1 | €842 | €891 | +€49 | +5.9% |
| Total equity and liabilities | 10/49 | €132,275 | €183,316 | +€51,040 | +38.6% |
| Equity | 10/15 | €54,067 | €110,941 | +€56,875 | +105.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €49,067 | €105,941 | +€56,875 | +115.9% |
| Distributable reserves | 133 | €49,067 | €105,941 | +€56,875 | +115.9% |
| Amounts payable | 17/49 | €78,209 | €72,374 | -€5,834 | -7.5% |
| Amounts payable after more than one year | 17 | €56,000 | €42,000 | -€14,000 | -25.0% |
| Other amounts payable | 178/9 | €56,000 | €42,000 | -€14,000 | -25.0% |
| Amounts payable within one year | 42/48 | €22,209 | €30,374 | +€8,166 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €14,000 | €14,000 | = | 0.0% |
| Trade debts | 44 | €564 | €4,404 | +€3,840 | +680.5% |
| Suppliers | 440/4 | €564 | €4,404 | +€3,840 | +680.5% |
| Taxes, remuneration and social security | 45 | €7,644 | €11,970 | +€4,326 | +56.6% |
| Taxes | 450/3 | €5,084 | €11,970 | +€6,886 | +135.5% |
| Remuneration and social security | 454/9 | €2,561 | €0 | -€2,561 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,797 | €16,765 | +€8,968 | +115.0% |
| Other operating charges | 640/8 | €208 | €210 | +€2 | +1.0% |
| Gross operating margin | 9900 | €47,401 | €90,567 | +€43,167 | +91.1% |
| Operating profit (loss) | 9901 | €39,396 | €73,592 | +€34,197 | +86.8% |
| Financial charges | 65/66B | €142 | €2,118 | +€1,975 | +1389.7% |
| Recurring financial charges | 65 | €142 | €2,118 | +€1,975 | +1389.7% |
| Profit (loss) for the period before taxes | 9903 | €39,253 | €71,475 | +€32,221 | +82.1% |
| Income taxes | 67/77 | €10,842 | €14,600 | +€3,758 | +34.7% |
| Profit (loss) for the period | 9904 | €28,411 | €56,875 | +€28,463 | +100.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,411 | €56,875 | +€28,463 | +100.2% |
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 10 October 2026 via checked.be.