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Line	Code	2024	2025	Change	%
Total assets	20/58	€591,247	€619,282	+€28,035	+4.7%
Fixed assets	21/28	€488,320	€362,430	-€125,890	-25.8%
Tangible fixed assets	22/27	€488,320	€362,430	-€125,890	-25.8%
Land and buildings	22	€407,177	€348,493	-€58,685	-14.4%
Plant, machinery and equipment	23	€72,509	€9,314	-€63,194	-87.2%
Furniture and vehicles	24	€6,434	€2,423	-€4,011	-62.3%
Other tangible fixed assets	26	€2,200	€2,200	=	0.0%
Current assets	29/58	€102,927	€256,852	+€153,925	+150%
Amounts receivable within one year	40/41	€30,928	€76,666	+€45,737	+148%
Trade receivables	40	€2,164	€20,485	+€18,321	+846%
Other amounts receivable	41	€28,764	€56,180	+€27,416	+95.3%
Cash at bank and in hand	54/58	€50,855	€171,687	+€120,832	+238%
Deferred charges and accrued income	490/1	€21,144	€8,499	-€12,644	-59.8%
Total equity and liabilities	10/49	€591,247	€619,282	+€28,035	+4.7%
Equity	10/15	€347,148	€424,892	+€77,744	+22.4%
Contributions	10/11	€12,400	€12,400	=	0.0%
Reserves	13	€265,801	€343,545	+€77,744	+29.2%
Non-distributable reserves	130/1	€1,860	€1,860	=	0.0%
Reserves not available under the articles	1311	€1,860	€1,860	=	0.0%
Distributable reserves	133	€263,941	€341,685	+€77,744	+29.5%
Profit (loss) carried forward	14	€68,947	€68,947	=	0.0%
Amounts payable	17/49	€244,099	€194,390	-€49,709	-20.4%
Amounts payable after more than one year	17	€183,941	€162,040	-€21,901	-11.9%
Financial debts	170/4	€183,941	€162,040	-€21,901	-11.9%
Amounts payable within one year	42/48	€59,560	€30,165	-€29,395	-49.4%
Current portion of amounts payable after more than one year	42	€41,238	€24,321	-€16,918	-41.0%
Trade debts	44	€7,184	-	-€7,184
Suppliers	440/4	€7,184	-	-€7,184
Taxes, remuneration and social security	45	€11,137	€5,844	-€5,293	-47.5%
Taxes	450/3	€4,709	€5,844	+€1,135	+24.1%
Remuneration and social security	454/9	€6,428	-	-€6,428
Accrued charges and deferred income	492/3	€599	€2,185	+€1,587	+265%
Non-recurring operating income	76A	-	€16,500	+€16,500
Remuneration, social security and pensions	62	€18,531	€10,849	-€7,681	-41.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€56,115	€30,925	-€25,190	-44.9%
Other operating charges	640/8	€3,381	€4,517	+€1,136	+33.6%
Non-recurring operating charges	66A	-	€82,120	+€82,120
Gross operating margin	9900	€154,920	€326,799	+€171,879	+111%
Operating profit (loss)	9901	€76,894	€198,388	+€121,494	+158%
Financial income	75/76B	€2	€34	+€33	+2,078%
Recurring financial income	75	€2	€34	+€33	+2,078%
Financial charges	65/66B	€10,054	€9,722	-€332	-3.3%
Recurring financial charges	65	€10,054	€9,722	-€332	-3.3%
Profit (loss) for the period before taxes	9903	€66,841	€188,700	+€121,859	+182%
Income taxes	67/77	€19,750	€57,958	+€38,207	+193%
Profit (loss) for the period	9904	€47,091	€130,742	+€83,652	+178%
Profit (loss) for the period to be appropriated	9905	€47,091	€130,742	+€83,652	+178%

VIRTAND: value indication

VIRTAND: value indication

Position among the sector peers

What moved between 2024 and 2025

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Change in the result, 2024 to 2025

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

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Your EBITDA multiple

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