VARS: 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.
VARS
Largest movements
- Tangible fixed assets -€17,045
down €17,045 (-4.2%), from €409,091 to €392,046
- Cash +€13,233
up €13,233 (+400.8%), from €3,302 to €16,535
mainly Net result for the year (+€19,174) and Depreciation (+€17,045)
- Current portion of long-term debt -€7,943
no longer reported in 2025 (was €7,943)
- Tax, wage and social debts +€7,877
up €7,877 (+103.2%), from €7,634 to €15,512
- Trade debts -€5,268
down €5,268 (-38.9%), from €13,557 to €8,289
- Other operating charges -€513
down €513 (-13.3%), from €3,855 to €3,342
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 | €412,393 | €408,581 | -€3,812 | -0.9% |
| Fixed assets | 21/28 | €409,091 | €392,046 | -€17,045 | -4.2% |
| Tangible fixed assets | 22/27 | €409,091 | €392,046 | -€17,045 | -4.2% |
| Land and buildings | 22 | €409,091 | €392,046 | -€17,045 | -4.2% |
| Current assets | 29/58 | €3,302 | €16,535 | +€13,233 | +400.8% |
| Cash at bank and in hand | 54/58 | €3,302 | €16,535 | +€13,233 | +400.8% |
| Total equity and liabilities | 10/49 | €412,393 | €408,581 | -€3,812 | -0.9% |
| Equity | 10/15 | €366,253 | €367,426 | +€1,174 | +0.3% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €794 | €794 | = | 0.0% |
| Distributable reserves | 133 | €794 | €794 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,459 | €16,632 | +€1,174 | +7.6% |
| Amounts payable | 17/49 | €46,140 | €41,154 | -€4,986 | -10.8% |
| Amounts payable within one year | 42/48 | €46,134 | €41,154 | -€4,979 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €7,943 | - | -€7,943 | |
| Trade debts | 44 | €13,557 | €8,289 | -€5,268 | -38.9% |
| Suppliers | 440/4 | €13,557 | €8,289 | -€5,268 | -38.9% |
| Taxes, remuneration and social security | 45 | €7,634 | €15,512 | +€7,877 | +103.2% |
| Taxes | 450/3 | €7,634 | €15,512 | +€7,877 | +103.2% |
| Other amounts payable | 47/48 | €17,000 | €17,354 | +€354 | +2.1% |
| Accrued charges and deferred income | 492/3 | €7 | - | -€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,045 | €17,045 | = | 0.0% |
| Other operating charges | 640/8 | €3,855 | €3,342 | -€513 | -13.3% |
| Gross operating margin | 9900 | €46,708 | €46,614 | -€94 | -0.2% |
| Operating profit (loss) | 9901 | €25,807 | €26,227 | +€419 | +1.6% |
| Financial charges | 65/66B | €388 | €74 | -€314 | -81.0% |
| Recurring financial charges | 65 | €388 | €74 | -€314 | -81.0% |
| Profit (loss) for the period before taxes | 9903 | €25,420 | €26,153 | +€733 | +2.9% |
| Income taxes | 67/77 | €6,927 | €6,980 | +€53 | +0.8% |
| Profit (loss) for the period | 9904 | €18,493 | €19,174 | +€681 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,493 | €19,174 | +€681 | +3.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.