VARUTEC: 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.
VARUTEC
Largest movements
- Cash +€127,328
up €127,328 (+41.0%), from €310,538 to €437,866
mainly Other debts (+€100,000) and Net result for the year (+€86,073)
- Receivables within one year -€41,930
down €41,930 (-48.9%), from €85,771 to €43,842
- Other debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€13,927
down €13,927 (-4.5%), from €312,544 to €298,617
- Financial charges +€4,553
up €4,553 (+8.1%), from €56,287 to €60,841
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 | €456,165 | €539,972 | +€83,807 | +18.4% |
| Fixed assets | 21/28 | €10,165 | €8,574 | -€1,591 | -15.7% |
| Tangible fixed assets | 22/27 | €5,834 | €4,243 | -€1,591 | -27.3% |
| Plant, machinery and equipment | 23 | €5,834 | €4,243 | -€1,591 | -27.3% |
| Financial fixed assets | 28 | €4,331 | €4,331 | = | 0.0% |
| Current assets | 29/58 | €445,999 | €531,397 | +€85,398 | +19.1% |
| Amounts receivable within one year | 40/41 | €85,771 | €43,842 | -€41,930 | -48.9% |
| Trade receivables | 40 | €85,771 | €43,842 | -€41,930 | -48.9% |
| Current investments | 50/53 | €49,689 | €49,689 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €310,538 | €437,866 | +€127,328 | +41.0% |
| Total equity and liabilities | 10/49 | €456,165 | €539,972 | +€83,807 | +18.4% |
| Equity | 10/15 | €399,604 | €385,677 | -€13,927 | -3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,460 | €68,460 | = | 0.0% |
| Distributable reserves | 133 | €68,460 | €68,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,544 | €298,617 | -€13,927 | -4.5% |
| Amounts payable | 17/49 | €56,560 | €154,295 | +€97,734 | +173% |
| Amounts payable within one year | 42/48 | €56,560 | €154,295 | +€97,734 | +173% |
| Trade debts | 44 | €17,864 | €17,373 | -€491 | -2.7% |
| Suppliers | 440/4 | €17,864 | €17,373 | -€491 | -2.7% |
| Advances received on contracts in progress | 46 | €4,170 | - | -€4,170 | |
| Taxes, remuneration and social security | 45 | €34,527 | €36,921 | +€2,395 | +6.9% |
| Taxes | 450/3 | €13,088 | €15,398 | +€2,311 | +17.7% |
| Remuneration and social security | 454/9 | €21,439 | €21,523 | +€84 | +0.4% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Remuneration, social security and pensions | 62 | €202,768 | €204,060 | +€1,292 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,591 | €1,591 | = | 0.0% |
| Other operating charges | 640/8 | €3,070 | €1,750 | -€1,320 | -43.0% |
| Non-recurring operating charges | 66A | €63 | €111 | +€48 | +76.6% |
| Gross operating margin | 9900 | €342,572 | €345,590 | +€3,018 | +0.9% |
| Operating profit (loss) | 9901 | €135,079 | €138,077 | +€2,998 | +2.2% |
| Financial income | 75/76B | €40,709 | €41,651 | +€943 | +2.3% |
| Recurring financial income | 75 | €40,709 | €41,651 | +€943 | +2.3% |
| Financial charges | 65/66B | €56,287 | €60,841 | +€4,553 | +8.1% |
| Recurring financial charges | 65 | €56,287 | €60,841 | +€4,553 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €119,501 | €118,888 | -€613 | -0.5% |
| Income taxes | 67/77 | €32,841 | €32,815 | -€26 | -0.1% |
| Profit (loss) for the period | 9904 | €86,660 | €86,073 | -€587 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,660 | €86,073 | -€587 | -0.7% |
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 15 October 2026 via checked.be.