VARTES: 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.
What changed
VARTES
NACE 01.500, Mixed farming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€6,744
2024 · -€15,098+€8,354
Equity
€136,887
2024 · €143,631-€6,744
Cash
€9,261
2024 · €12,205-€2,944
Balance sheet total
€1.0m
2024 · €1.1m-€34,455
Largest movements
Assets
- Tangible fixed assets -€44,881
down €44,881 (-4.5%), from €992,896 to €948,015
of which Land and buildings: -€45,142
- Stocks and contracts +€14,325
up €14,325 (+22.4%), from €64,072 to €78,397
Equity and liabilities
- Debts after one year -€19,765
down €19,765 (-3.6%), from €551,449 to €531,684
Income statement
- Gross operating margin +€8,457
up €8,457 (+14.9%), from €56,862 to €65,319
- Depreciation +€1,122
up €1,122 (+1.9%), from €59,959 to €61,081
- Financial charges -€829
down €829 (-11.2%), from €7,369 to €6,540
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.
Result 2024
-€15,098
Gross operating margin
+€8,457
Depreciation
-€1,122
Other operating charges
+€197
Financial income
-€4
Financial charges
+€829
Taxes
-€3
Result 2025
-€6,744
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.
From operations
+€31,970
Investment
-€16,200
Financing
-€18,714
Cash 2024
€12,205
From operations (derived)
+€31,970
Net result for the year
-€6,744
Depreciation
+€61,081
Stocks and contracts
-€14,325
Receivables within one year
+€694
Deferred charges and accrued income
+€261
Trade debts
-€709
Tax, wage and social debts
+€735
Other debts
-€9,022
Investment (derived)
-€16,200
Investment in fixed assets (net)
-€16,200
Financing
-€18,714
Debts after one year
-€19,765
Current portion of long-term debt
+€1,051
Cash 2025
€9,261
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,075,251 | €1,040,796 | -€34,455 | -3.2% |
| Fixed assets | 21/28 | €992,896 | €948,015 | -€44,881 | -4.5% |
| Tangible fixed assets | 22/27 | €992,896 | €948,015 | -€44,881 | -4.5% |
| Land and buildings | 22 | €906,996 | €861,855 | -€45,142 | -5.0% |
| Plant, machinery and equipment | 23 | €76,005 | €77,132 | +€1,127 | +1.5% |
| Furniture and vehicles | 24 | €9,894 | €9,028 | -€867 | -8.8% |
| Current assets | 29/58 | €82,356 | €92,782 | +€10,426 | +12.7% |
| Stocks and contracts in progress | 3 | €64,072 | €78,397 | +€14,325 | +22.4% |
| Stocks | 30/36 | €64,072 | €78,397 | +€14,325 | +22.4% |
| Amounts receivable within one year | 40/41 | €4,642 | €3,948 | -€694 | -14.9% |
| Trade receivables | 40 | €4,642 | €3,948 | -€694 | -14.9% |
| Cash at bank and in hand | 54/58 | €12,205 | €9,261 | -€2,944 | -24.1% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,175 | -€261 | -18.1% |
| Total equity and liabilities | 10/49 | €1,075,251 | €1,040,796 | -€34,455 | -3.2% |
| Equity | 10/15 | €143,631 | €136,887 | -€6,744 | -4.7% |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €8,704 | €8,704 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €6,844 | €8,704 | +€1,860 | +27.2% |
| Profit (loss) carried forward | 14 | -€233,674 | -€240,418 | -€6,744 | -2.9% |
| Amounts payable | 17/49 | €931,620 | €903,909 | -€27,711 | -3.0% |
| Amounts payable after more than one year | 17 | €551,449 | €531,684 | -€19,765 | -3.6% |
| Financial debts | 170/4 | €551,449 | €531,684 | -€19,765 | -3.6% |
| Amounts payable within one year | 42/48 | €380,171 | €372,226 | -€7,946 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €18,677 | €19,728 | +€1,051 | +5.6% |
| Trade debts | 44 | €8,235 | €7,526 | -€709 | -8.6% |
| Suppliers | 440/4 | €8,235 | €7,526 | -€709 | -8.6% |
| Taxes, remuneration and social security | 45 | €4,322 | €5,057 | +€735 | +17.0% |
| Taxes | 450/3 | €4,322 | €5,057 | +€735 | +17.0% |
| Other amounts payable | 47/48 | €348,937 | €339,915 | -€9,022 | -2.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,959 | €61,081 | +€1,122 | +1.9% |
| Other operating charges | 640/8 | €4,390 | €4,193 | -€197 | -4.5% |
| Gross operating margin | 9900 | €56,862 | €65,319 | +€8,457 | +14.9% |
| Operating profit (loss) | 9901 | -€7,487 | €46 | +€7,532 | |
| Financial income | 75/76B | €22 | €18 | -€4 | -17.6% |
| Recurring financial income | 75 | €22 | €18 | -€4 | -17.6% |
| Financial charges | 65/66B | €7,369 | €6,540 | -€829 | -11.2% |
| Recurring financial charges | 65 | €7,369 | €6,540 | -€829 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,834 | -€6,477 | +€8,357 | +56.3% |
| Income taxes | 67/77 | €264 | €267 | +€3 | +1.1% |
| Profit (loss) for the period | 9904 | -€15,098 | -€6,744 | +€8,354 | +55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,098 | -€6,744 | +€8,354 | +55.3% |
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 7 October 2026 via checked.be.