VARTEKS TRADING: 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.
VARTEKS TRADING
Largest movements
- Tangible fixed assets +€487,720
up €487,720 (+222%), from €219,406 to €707,127
of which Other tangible fixed assets: +€388,543
- Cash -€175,682
down €175,682 (-97.3%), from €180,483 to €4,801
mainly Investment in fixed assets (net) (-€542,637) and Net result for the year (-€127,463)
- Receivables within one year +€67,023
up €67,023 (+9.3%), from €723,608 to €790,631
of which Other amounts receivable: +€54,077
- Deferred charges and accrued income -€20,073
down €20,073 (-91.5%), from €21,948 to €1,875
- Other debts +€384,367
up €384,367 (+27.8%), from €1.4m to €1.8m
- Profit (loss) carried forward -€127,463
down €127,463 (-9.6%), from -€1.3m to -€1.5m
- Trade debts +€69,357
up €69,357 (+107%), from €65,091 to €134,449
- Debts after one year +€35,693
up €35,693 (+14.2%), from €250,837 to €286,530
of which Financial debts: +€35,693
- Tax, wage and social debts -€18,891
down €18,891 (-8.6%), from €219,727 to €200,836
of which Taxes: -€24,480
- Staff costs +€42,582
up €42,582 (+4.1%), from €1.1m to €1.1m
- Depreciation +€22,406
up €22,406 (+68.9%), from €32,511 to €54,916
- Other operating charges +€16,719
up €16,719 (+26.4%), from €63,247 to €79,967
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.
Derived cash bridge
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 | €1,213,200 | €1,567,723 | +€354,522 | +29.2% |
| Fixed assets | 21/28 | €221,390 | €709,110 | +€487,720 | +220% |
| Tangible fixed assets | 22/27 | €219,406 | €707,127 | +€487,720 | +222% |
| Land and buildings | 22 | €70,656 | €65,625 | -€5,030 | -7.1% |
| Plant, machinery and equipment | 23 | €31,399 | €104,144 | +€72,745 | +232% |
| Furniture and vehicles | 24 | €34,919 | €66,642 | +€31,723 | +90.8% |
| Leasing and similar rights | 25 | €260 | €0 | -€260 | -100% |
| Other tangible fixed assets | 26 | €82,172 | €470,715 | +€388,543 | +473% |
| Financial fixed assets | 28 | €1,983 | €1,983 | = | 0.0% |
| Current assets | 29/58 | €991,811 | €858,613 | -€133,198 | -13.4% |
| Stocks and contracts in progress | 3 | €65,772 | €61,305 | -€4,467 | -6.8% |
| Stocks | 30/36 | €65,772 | €61,305 | -€4,467 | -6.8% |
| Amounts receivable within one year | 40/41 | €723,608 | €790,631 | +€67,023 | +9.3% |
| Trade receivables | 40 | €218,972 | €231,919 | +€12,946 | +5.9% |
| Other amounts receivable | 41 | €504,636 | €558,713 | +€54,077 | +10.7% |
| Cash at bank and in hand | 54/58 | €180,483 | €4,801 | -€175,682 | -97.3% |
| Deferred charges and accrued income | 490/1 | €21,948 | €1,875 | -€20,073 | -91.5% |
| Total equity and liabilities | 10/49 | €1,213,200 | €1,567,723 | +€354,522 | +29.2% |
| Equity | 10/15 | -€806,040 | -€933,503 | -€127,463 | -15.8% |
| Contributions | 10/11 | €480,000 | €480,000 | = | 0.0% |
| Capital | 10 | €480,000 | €480,000 | = | 0.0% |
| Issued capital | 100 | €480,000 | €480,000 | = | 0.0% |
| Reserves | 13 | €39,041 | €39,041 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,987 | €30,987 | = | 0.0% |
| Legal reserve | 130 | €30,987 | €30,987 | = | 0.0% |
| Distributable reserves | 133 | €8,054 | €8,054 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,325,081 | -€1,452,544 | -€127,463 | -9.6% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €2,019,240 | €2,501,225 | +€481,985 | +23.9% |
| Amounts payable after more than one year | 17 | €250,837 | €286,530 | +€35,693 | +14.2% |
| Financial debts | 170/4 | €837 | €36,530 | +€35,693 | +4,262% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,768,403 | €2,214,695 | +€446,293 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €2,150 | €15,081 | +€12,931 | +601% |
| Financial debts | 43 | €97,116 | €95,646 | -€1,470 | -1.5% |
| Credit institutions | 430/8 | €97,116 | €95,646 | -€1,470 | -1.5% |
| Trade debts | 44 | €65,091 | €134,449 | +€69,357 | +107% |
| Suppliers | 440/4 | €65,091 | €134,449 | +€69,357 | +107% |
| Taxes, remuneration and social security | 45 | €219,727 | €200,836 | -€18,891 | -8.6% |
| Taxes | 450/3 | €41,578 | €17,098 | -€24,480 | -58.9% |
| Remuneration and social security | 454/9 | €178,149 | €183,738 | +€5,588 | +3.1% |
| Other amounts payable | 47/48 | €1,384,318 | €1,768,685 | +€384,367 | +27.8% |
| Non-recurring operating income | 76A | €3,672 | €663 | -€3,009 | -81.9% |
| Remuneration, social security and pensions | 62 | €1,050,162 | €1,092,745 | +€42,582 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,511 | €54,916 | +€22,406 | +68.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,000 | €0 | +€10,000 | |
| Other operating charges | 640/8 | €63,247 | €79,967 | +€16,719 | +26.4% |
| Non-recurring operating charges | 66A | €164,495 | €0 | -€164,495 | -100% |
| Gross operating margin | 9900 | €1,119,298 | €1,112,081 | -€7,217 | -0.6% |
| Operating profit (loss) | 9901 | -€181,117 | -€115,546 | +€65,571 | +36.2% |
| Financial income | 75/76B | €242 | €9,959 | +€9,717 | +4,020% |
| Recurring financial income | 75 | €242 | €9,959 | +€9,717 | +4,020% |
| Financial charges | 65/66B | €26,631 | €21,811 | -€4,820 | -18.1% |
| Recurring financial charges | 65 | €26,631 | €21,811 | -€4,820 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€207,506 | -€127,398 | +€80,108 | +38.6% |
| Income taxes | 67/77 | €537 | €65 | -€472 | -87.9% |
| Profit (loss) for the period | 9904 | -€208,043 | -€127,463 | +€80,580 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,043 | -€127,463 | +€80,580 | +38.7% |
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 27 October 2026 via checked.be.