VARPO: 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.
VARPO
Largest movements
- Receivables within one year -€885,241
down €885,241 (-99.4%), from €890,741 to €5,500
of which Other amounts receivable: -€887,716
- Other debts -€887,884
down €887,884 (-41.1%), from €2.2m to €1.3m
- Financial income -€864,400
down €864,400 (-99.5%), from €868,786 to €4,386
- Financial charges +€5,444
up €5,444 (+1049.9%), from €519 to €5,962
- Gross operating margin +€2,587
up €2,587 (+439.7%), from €588 to €3,175
- Other operating charges +€387
up €387 (+52.9%), from €732 to €1,118
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 | €2,179,147 | €1,296,216 | -€882,932 | -40.5% |
| Fixed assets | 21/28 | €1,287,507 | €1,287,507 | = | 0.0% |
| Financial fixed assets | 28 | €1,287,507 | €1,287,507 | = | 0.0% |
| Current assets | 29/58 | €891,640 | €8,708 | -€882,932 | -99.0% |
| Amounts receivable within one year | 40/41 | €890,741 | €5,500 | -€885,241 | -99.4% |
| Trade receivables | 40 | €3,025 | €5,500 | +€2,475 | +81.8% |
| Other amounts receivable | 41 | €887,716 | - | -€887,716 | |
| Cash at bank and in hand | 54/58 | - | €689 | +€689 | |
| Deferred charges and accrued income | 490/1 | €899 | €2,520 | +€1,621 | +180.3% |
| Total equity and liabilities | 10/49 | €2,179,147 | €1,296,216 | -€882,932 | -40.5% |
| Equity | 10/15 | €19,424 | €19,773 | +€349 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €824 | €1,173 | +€349 | +42.4% |
| Distributable reserves | 133 | €824 | €1,173 | +€349 | +42.4% |
| Amounts payable | 17/49 | €2,159,724 | €1,276,443 | -€883,281 | -40.9% |
| Amounts payable within one year | 42/48 | €2,159,724 | €1,271,743 | -€887,981 | -41.1% |
| Taxes, remuneration and social security | 45 | €273 | €176 | -€97 | -35.6% |
| Taxes | 450/3 | €273 | €176 | -€97 | -35.6% |
| Other amounts payable | 47/48 | €2,159,450 | €1,271,567 | -€887,884 | -41.1% |
| Accrued charges and deferred income | 492/3 | - | €4,700 | +€4,700 | |
| Other operating charges | 640/8 | €732 | €1,118 | +€387 | +52.9% |
| Gross operating margin | 9900 | €588 | €3,175 | +€2,587 | +439.7% |
| Operating profit (loss) | 9901 | -€143 | €2,057 | +€2,200 | |
| Financial income | 75/76B | €868,786 | €4,386 | -€864,400 | -99.5% |
| Recurring financial income | 75 | €868,786 | €4,386 | -€864,400 | -99.5% |
| Financial charges | 65/66B | €519 | €5,962 | +€5,444 | +1049.9% |
| Recurring financial charges | 65 | €519 | €5,962 | +€5,444 | +1049.9% |
| Profit (loss) for the period before taxes | 9903 | €868,124 | €480 | -€867,644 | -99.9% |
| Income taxes | 67/77 | €129 | €131 | +€2 | +1.6% |
| Profit (loss) for the period | 9904 | €867,996 | €349 | -€867,646 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €867,996 | €349 | -€867,646 | -100.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.