VIRAGES: 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.
VIRAGES
Largest movements
- Tangible fixed assets -€58,127
down €58,127 (-9.1%), from €640,844 to €582,717
of which Land and buildings: -€45,145
- Cash +€27,489
up €27,489 (+57.9%), from €47,468 to €74,957
mainly Depreciation (+€79,460) and Net result for the year (+€54,188)
- Debts after one year -€60,980
down €60,980 (-13.2%), from €461,992 to €401,012
- Reserves +€35,095
up €35,095 (+21.3%), from €165,124 to €200,220
- Gross operating margin +€14,860
up €14,860 (+5.9%), from €252,548 to €267,408
- Taxes +€5,725
up €5,725 (+30.8%), from €18,569 to €24,293
- Depreciation +€4,037
up €4,037 (+5.4%), from €75,423 to €79,460
- Other operating charges -€2,969
down €2,969 (-19.3%), from €15,400 to €12,430
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €780,854 | €754,457 | -€26,397 | -3.4% |
| Fixed assets | 21/28 | €678,096 | €618,443 | -€59,654 | -8.8% |
| Intangible fixed assets | 21 | €37,252 | €35,725 | -€1,527 | -4.1% |
| Tangible fixed assets | 22/27 | €640,844 | €582,717 | -€58,127 | -9.1% |
| Land and buildings | 22 | €611,649 | €566,504 | -€45,145 | -7.4% |
| Furniture and vehicles | 24 | €29,195 | €16,213 | -€12,982 | -44.5% |
| Current assets | 29/58 | €102,757 | €136,014 | +€33,257 | +32.4% |
| Amounts receivable within one year | 40/41 | €55,289 | €60,333 | +€5,045 | +9.1% |
| Trade receivables | 40 | €43,857 | €33,284 | -€10,573 | -24.1% |
| Other amounts receivable | 41 | €11,431 | €27,049 | +€15,618 | +136.6% |
| Cash at bank and in hand | 54/58 | €47,468 | €74,957 | +€27,489 | +57.9% |
| Deferred charges and accrued income | 490/1 | - | €724 | +€724 | |
| Total equity and liabilities | 10/49 | €780,854 | €754,457 | -€26,397 | -3.4% |
| Equity | 10/15 | €178,592 | €212,857 | +€34,265 | +19.2% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €165,124 | €200,220 | +€35,095 | +21.3% |
| Distributable reserves | 133 | €165,124 | €200,220 | +€35,095 | +21.3% |
| Profit (loss) carried forward | 14 | €11,608 | €10,778 | -€830 | -7.2% |
| Amounts payable | 17/49 | €602,261 | €541,600 | -€60,662 | -10.1% |
| Amounts payable after more than one year | 17 | €461,992 | €401,012 | -€60,980 | -13.2% |
| Financial debts | 170/4 | €461,992 | €401,012 | -€60,980 | -13.2% |
| Amounts payable within one year | 42/48 | €140,269 | €140,587 | +€318 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €64,832 | €65,911 | +€1,079 | +1.7% |
| Trade debts | 44 | €36,060 | €38,035 | +€1,975 | +5.5% |
| Suppliers | 440/4 | €36,060 | €38,035 | +€1,975 | +5.5% |
| Advances received on contracts in progress | 46 | €12,911 | €15,645 | +€2,734 | +21.2% |
| Taxes, remuneration and social security | 45 | €20,464 | €18,585 | -€1,878 | -9.2% |
| Taxes | 450/3 | €10,661 | €8,693 | -€1,968 | -18.5% |
| Remuneration and social security | 454/9 | €9,803 | €9,893 | +€90 | +0.9% |
| Other amounts payable | 47/48 | €6,002 | €2,410 | -€3,592 | -59.8% |
| Remuneration, social security and pensions | 62 | €91,546 | €89,199 | -€2,346 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,423 | €79,460 | +€4,037 | +5.4% |
| Other operating charges | 640/8 | €15,400 | €12,430 | -€2,969 | -19.3% |
| Gross operating margin | 9900 | €252,548 | €267,408 | +€14,860 | +5.9% |
| Operating profit (loss) | 9901 | €70,180 | €86,318 | +€16,138 | +23.0% |
| Financial income | 75/76B | €186 | €964 | +€779 | +419.0% |
| Recurring financial income | 75 | €186 | €964 | +€779 | +419.0% |
| Financial charges | 65/66B | €9,767 | €8,801 | -€967 | -9.9% |
| Recurring financial charges | 65 | €9,767 | €8,801 | -€967 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €60,598 | €78,482 | +€17,883 | +29.5% |
| Income taxes | 67/77 | €18,569 | €24,293 | +€5,725 | +30.8% |
| Profit (loss) for the period | 9904 | €42,030 | €54,188 | +€12,159 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,030 | €54,188 | +€12,159 | +28.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.