VAVARU: 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.
VAVARU
Largest movements
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€2,582
up €2,582 (+27.2%), from €9,479 to €12,061
of which Other amounts receivable: +€2,183
- Cash +€1,880
up €1,880 (+9.0%), from €20,878 to €22,758
mainly Current investments (+€50,000) and Net result for the year (+€16,845)
- Deferred charges and accrued income -€1,241
down €1,241 (-56.9%), from €2,182 to €941
- Reserves -€72,037
no longer reported in 2025 (was €72,037)
- Other debts +€16,845
new in 2025: €16,845
- Tax, wage and social debts +€9,629
up €9,629 (+169%), from €5,682 to €15,311
of which Remuneration and social security: +€15,294
- Trade debts -€1,032
down €1,032 (-52.9%), from €1,951 to €919
- Gross operating margin -€19,694
down €19,694 (-46.2%), from €42,589 to €22,894
- Taxes -€3,517
down €3,517 (-40.9%), from €8,603 to €5,086
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 | €83,670 | €37,076 | -€46,595 | -55.7% |
| Fixed assets | 21/28 | €1,132 | €1,315 | +€184 | +16.3% |
| Tangible fixed assets | 22/27 | €1,132 | €1,315 | +€184 | +16.3% |
| Plant, machinery and equipment | 23 | €1,132 | €1,315 | +€184 | +16.3% |
| Current assets | 29/58 | €82,539 | €35,760 | -€46,779 | -56.7% |
| Amounts receivable within one year | 40/41 | €9,479 | €12,061 | +€2,582 | +27.2% |
| Trade receivables | 40 | €8,346 | €8,745 | +€400 | +4.8% |
| Other amounts receivable | 41 | €1,133 | €3,316 | +€2,183 | +193% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €20,878 | €22,758 | +€1,880 | +9.0% |
| Deferred charges and accrued income | 490/1 | €2,182 | €941 | -€1,241 | -56.9% |
| Total equity and liabilities | 10/49 | €83,670 | €37,076 | -€46,595 | -55.7% |
| Equity | 10/15 | €76,037 | €4,000 | -€72,037 | -94.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €72,037 | - | -€72,037 | |
| Distributable reserves | 133 | €72,037 | - | -€72,037 | |
| Amounts payable | 17/49 | €7,633 | €33,076 | +€25,442 | +333% |
| Amounts payable within one year | 42/48 | €7,633 | €33,076 | +€25,442 | +333% |
| Trade debts | 44 | €1,951 | €919 | -€1,032 | -52.9% |
| Suppliers | 440/4 | €1,951 | €919 | -€1,032 | -52.9% |
| Taxes, remuneration and social security | 45 | €5,682 | €15,311 | +€9,629 | +169% |
| Taxes | 450/3 | €5,665 | - | -€5,665 | |
| Remuneration and social security | 454/9 | €17 | €15,311 | +€15,294 | +87,945% |
| Other amounts payable | 47/48 | - | €16,845 | +€16,845 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €620 | €735 | +€115 | +18.6% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €42,589 | €22,894 | -€19,694 | -46.2% |
| Operating profit (loss) | 9901 | €41,464 | €21,640 | -€19,824 | -47.8% |
| Financial income | 75/76B | €60 | €447 | +€387 | +645% |
| Recurring financial income | 75 | €60 | €447 | +€387 | +645% |
| Financial charges | 65/66B | €140 | €156 | +€16 | +11.1% |
| Recurring financial charges | 65 | €140 | €156 | +€16 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €41,384 | €21,931 | -€19,453 | -47.0% |
| Income taxes | 67/77 | €8,603 | €5,086 | -€3,517 | -40.9% |
| Profit (loss) for the period | 9904 | €32,780 | €16,845 | -€15,935 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,780 | €16,845 | -€15,935 | -48.6% |
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.