Varun Goel: 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.
Varun Goel
Largest movements
- Cash +€39,667
up €39,667 (+22.5%), from €175,989 to €215,656
mainly Other debts (+€185,950) and Net result for the year (+€57,341)
- Receivables within one year +€25,122
up €25,122 (+2,379%), from €1,056 to €26,178
of which Trade receivables: +€16,946
- Tangible fixed assets -€21,492
down €21,492 (-21.6%), from €99,399 to €77,907
of which Furniture and vehicles: -€20,999
- Other debts +€185,950
up €185,950 (+17,706%), from €1,050 to €187,000
- Profit (loss) carried forward -€162,659
down €162,659 (-94.4%), from €172,358 to €9,699
- Tax, wage and social debts +€34,557
up €34,557 (+147%), from €23,467 to €58,024
- Debts after one year -€13,817
down €13,817 (-28.2%), from €48,938 to €35,121
- Depreciation +€8,834
up €8,834 (+63.7%), from €13,875 to €22,709
- Gross operating margin +€7,340
up €7,340 (+8.0%), from €91,669 to €99,010
- Taxes +€1,403
up €1,403 (+8.7%), from €16,196 to €17,599
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 | €277,648 | €320,548 | +€42,900 | +15.5% |
| Fixed assets | 21/28 | €99,399 | €77,907 | -€21,492 | -21.6% |
| Tangible fixed assets | 22/27 | €99,399 | €77,907 | -€21,492 | -21.6% |
| Furniture and vehicles | 24 | €95,468 | €74,469 | -€20,999 | -22.0% |
| Other tangible fixed assets | 26 | €3,931 | €3,438 | -€493 | -12.5% |
| Current assets | 29/58 | €178,249 | €242,641 | +€64,392 | +36.1% |
| Amounts receivable within one year | 40/41 | €1,056 | €26,178 | +€25,122 | +2,379% |
| Trade receivables | 40 | €884 | €17,830 | +€16,946 | +1,917% |
| Other amounts receivable | 41 | €172 | €8,347 | +€8,176 | +4,758% |
| Cash at bank and in hand | 54/58 | €175,989 | €215,656 | +€39,667 | +22.5% |
| Deferred charges and accrued income | 490/1 | €1,204 | €807 | -€397 | -33.0% |
| Total equity and liabilities | 10/49 | €277,648 | €320,548 | +€42,900 | +15.5% |
| Equity | 10/15 | €187,358 | €24,699 | -€162,659 | -86.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,358 | €9,699 | -€162,659 | -94.4% |
| Amounts payable | 17/49 | €90,290 | €295,849 | +€205,559 | +228% |
| Amounts payable after more than one year | 17 | €48,938 | €35,121 | -€13,817 | -28.2% |
| Financial debts | 170/4 | €48,938 | €35,121 | -€13,817 | -28.2% |
| Amounts payable within one year | 42/48 | €40,722 | €260,728 | +€220,007 | +540% |
| Current portion of amounts payable after more than one year | 42 | €13,416 | €13,817 | +€401 | +3.0% |
| Trade debts | 44 | €2,788 | €1,886 | -€902 | -32.3% |
| Suppliers | 440/4 | €2,788 | €1,886 | -€902 | -32.3% |
| Taxes, remuneration and social security | 45 | €23,467 | €58,024 | +€34,557 | +147% |
| Taxes | 450/3 | €23,467 | €58,024 | +€34,557 | +147% |
| Other amounts payable | 47/48 | €1,050 | €187,000 | +€185,950 | +17,706% |
| Accrued charges and deferred income | 492/3 | €630 | - | -€630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,875 | €22,709 | +€8,834 | +63.7% |
| Other operating charges | 640/8 | €118 | €612 | +€494 | +419% |
| Gross operating margin | 9900 | €91,669 | €99,010 | +€7,340 | +8.0% |
| Operating profit (loss) | 9901 | €77,676 | €75,688 | -€1,988 | -2.6% |
| Financial income | 75/76B | €341 | €1,130 | +€789 | +232% |
| Recurring financial income | 75 | €341 | €1,130 | +€789 | +232% |
| Financial charges | 65/66B | €1,322 | €1,878 | +€556 | +42.1% |
| Recurring financial charges | 65 | €1,322 | €1,878 | +€556 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €76,695 | €74,940 | -€1,755 | -2.3% |
| Income taxes | 67/77 | €16,196 | €17,599 | +€1,403 | +8.7% |
| Profit (loss) for the period | 9904 | €60,498 | €57,341 | -€3,157 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,498 | €57,341 | -€3,157 | -5.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.