VAROTHO: 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.
VAROTHO
Largest movements
- Receivables within one year +€15,745
up €15,745 (+382.5%), from €4,116 to €19,861
of which Trade receivables: +€15,072
- Cash +€3,836
up €3,836 (+97.5%), from €3,933 to €7,769
mainly Accrued charges and deferred income (+€7,132) and Depreciation (+€5,778)
- Tangible fixed assets -€1,893
down €1,893 (-8.9%), from €21,326 to €19,433
- Accrued charges and deferred income +€7,132
new in 2024: €7,132
- Trade debts +€4,117
up €4,117 (+404.0%), from €1,019 to €5,136
- Tax, wage and social debts +€3,177
up €3,177 (+23.1%), from €13,723 to €16,899
of which Taxes: +€6,062
- Reserves +€2,821
up €2,821 (+22.1%), from €12,750 to €15,571
- Other debts +€602
up €602 (+179.6%), from €335 to €937
- Gross operating margin -€13,228
down €13,228 (-55.3%), from €23,911 to €10,683
- Taxes -€4,800
down €4,800 (-71.1%), from €6,753 to €1,954
- Depreciation +€2,418
up €2,418 (+72.0%), from €3,360 to €5,778
- Other operating charges -€720
down €720 (-87.8%), from €820 to €100
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,327 | €48,175 | +€17,848 | +58.9% |
| Formation expenses | 20 | €852 | €596 | -€256 | -30.0% |
| Fixed assets | 21/28 | €21,426 | €19,533 | -€1,893 | -8.8% |
| Tangible fixed assets | 22/27 | €21,326 | €19,433 | -€1,893 | -8.9% |
| Plant, machinery and equipment | 23 | €21,326 | €19,433 | -€1,893 | -8.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €8,049 | €28,045 | +€19,996 | +248.4% |
| Amounts receivable within one year | 40/41 | €4,116 | €19,861 | +€15,745 | +382.5% |
| Trade receivables | 40 | €3,810 | €18,882 | +€15,072 | +395.6% |
| Other amounts receivable | 41 | €307 | €979 | +€673 | +219.4% |
| Cash at bank and in hand | 54/58 | €3,933 | €7,769 | +€3,836 | +97.5% |
| Deferred charges and accrued income | 490/1 | - | €415 | +€415 | |
| Total equity and liabilities | 10/49 | €30,327 | €48,175 | +€17,848 | +58.9% |
| Equity | 10/15 | €15,250 | €18,071 | +€2,821 | +18.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €12,750 | €15,571 | +€2,821 | +22.1% |
| Distributable reserves | 133 | €12,750 | €15,571 | +€2,821 | +22.1% |
| Amounts payable | 17/49 | €15,077 | €30,104 | +€15,027 | +99.7% |
| Amounts payable within one year | 42/48 | €15,077 | €22,972 | +€7,895 | +52.4% |
| Trade debts | 44 | €1,019 | €5,136 | +€4,117 | +404.0% |
| Suppliers | 440/4 | €1,019 | €5,136 | +€4,117 | +404.0% |
| Taxes, remuneration and social security | 45 | €13,723 | €16,899 | +€3,177 | +23.1% |
| Taxes | 450/3 | €10,837 | €16,899 | +€6,062 | +55.9% |
| Remuneration and social security | 454/9 | €2,886 | - | -€2,886 | |
| Other amounts payable | 47/48 | €335 | €937 | +€602 | +179.6% |
| Accrued charges and deferred income | 492/3 | - | €7,132 | +€7,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,360 | €5,778 | +€2,418 | +72.0% |
| Other operating charges | 640/8 | €820 | €100 | -€720 | -87.8% |
| Gross operating margin | 9900 | €23,911 | €10,683 | -€13,228 | -55.3% |
| Operating profit (loss) | 9901 | €19,731 | €4,805 | -€14,926 | -75.6% |
| Financial charges | 65/66B | €227 | €30 | -€197 | -86.8% |
| Recurring financial charges | 65 | €227 | €30 | -€197 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | €19,503 | €4,775 | -€14,729 | -75.5% |
| Income taxes | 67/77 | €6,753 | €1,954 | -€4,800 | -71.1% |
| Profit (loss) for the period | 9904 | €12,750 | €2,821 | -€9,929 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,750 | €2,821 | -€9,929 | -77.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.