VIRDO: 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.
VIRDO
Largest movements
- Receivables within one year +€66,901
up €66,901 (+11.6%), from €575,043 to €641,944
of which Trade receivables: +€40,795
- Cash -€61,091
down €61,091 (-39.2%), from €155,657 to €94,565
mainly Net result for the year (-€82,479) and Receivables within one year (-€66,901)
- Tangible fixed assets +€20,358
up €20,358 (+16.2%), from €125,415 to €145,773
of which Plant, machinery and equipment: +€11,161
- Profit (loss) carried forward -€82,479
down €82,479 (-34.0%), from €242,407 to €159,929
- Trade debts +€77,012
up €77,012 (+10.2%), from €755,164 to €832,176
- Gross operating margin -€43,376
down €43,376 (-5.4%), from €800,423 to €757,047
- Staff costs +€40,853
up €40,853 (+5.7%), from €721,988 to €762,841
- Depreciation -€32,962
down €32,962 (-50.2%), from €65,615 to €32,653
- Financial income -€11,117
down €11,117 (-84.1%), from €13,222 to €2,105
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,445,936 | €1,465,836 | +€19,901 | +1.4% |
| Fixed assets | 21/28 | €125,566 | €145,924 | +€20,358 | +16.2% |
| Tangible fixed assets | 22/27 | €125,415 | €145,773 | +€20,358 | +16.2% |
| Plant, machinery and equipment | 23 | €36,682 | €47,843 | +€11,161 | +30.4% |
| Furniture and vehicles | 24 | €0 | €4,637 | +€4,637 | |
| Other tangible fixed assets | 26 | €88,733 | €93,293 | +€4,560 | +5.1% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €1,320,370 | €1,319,912 | -€458 | 0.0% |
| Stocks and contracts in progress | 3 | €537,008 | €525,979 | -€11,028 | -2.1% |
| Stocks | 30/36 | €537,008 | €525,979 | -€11,028 | -2.1% |
| Amounts receivable within one year | 40/41 | €575,043 | €641,944 | +€66,901 | +11.6% |
| Trade receivables | 40 | €27,505 | €68,300 | +€40,795 | +148.3% |
| Other amounts receivable | 41 | €547,538 | €573,643 | +€26,106 | +4.8% |
| Cash at bank and in hand | 54/58 | €155,657 | €94,565 | -€61,091 | -39.2% |
| Deferred charges and accrued income | 490/1 | €52,663 | €57,424 | +€4,761 | +9.0% |
| Total equity and liabilities | 10/49 | €1,445,936 | €1,465,836 | +€19,901 | +1.4% |
| Equity | 10/15 | €443,639 | €361,160 | -€82,479 | -18.6% |
| Contributions | 10/11 | €143,000 | €143,000 | = | 0.0% |
| Reserves | 13 | €58,231 | €58,231 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,855 | €6,855 | = | 0.0% |
| Distributable reserves | 133 | €51,377 | €51,377 | = | 0.0% |
| Profit (loss) carried forward | 14 | €242,407 | €159,929 | -€82,479 | -34.0% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €1,002,297 | €1,104,677 | +€102,379 | +10.2% |
| Amounts payable after more than one year | 17 | €62,611 | €60,700 | -€1,911 | -3.1% |
| Financial debts | 170/4 | €62,611 | €60,700 | -€1,911 | -3.1% |
| Amounts payable within one year | 42/48 | €939,686 | €1,043,977 | +€104,291 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €18,683 | €28,562 | +€9,878 | +52.9% |
| Financial debts | 43 | €28,310 | €39,714 | +€11,404 | +40.3% |
| Credit institutions | 430/8 | €28,310 | €39,714 | +€11,404 | +40.3% |
| Trade debts | 44 | €755,164 | €832,176 | +€77,012 | +10.2% |
| Suppliers | 440/4 | €755,164 | €832,176 | +€77,012 | +10.2% |
| Taxes, remuneration and social security | 45 | €137,529 | €143,525 | +€5,996 | +4.4% |
| Taxes | 450/3 | €11,725 | €14,034 | +€2,309 | +19.7% |
| Remuneration and social security | 454/9 | €125,804 | €129,491 | +€3,687 | +2.9% |
| Remuneration, social security and pensions | 62 | €721,988 | €762,841 | +€40,853 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,615 | €32,653 | -€32,962 | -50.2% |
| Other operating charges | 640/8 | €5,108 | €9,123 | +€4,015 | +78.6% |
| Gross operating margin | 9900 | €800,423 | €757,047 | -€43,376 | -5.4% |
| Operating profit (loss) | 9901 | €7,713 | -€47,570 | -€55,283 | |
| Financial income | 75/76B | €13,222 | €2,105 | -€11,117 | -84.1% |
| Recurring financial income | 75 | €13,222 | €2,105 | -€11,117 | -84.1% |
| Financial charges | 65/66B | €30,641 | €32,561 | +€1,920 | +6.3% |
| Recurring financial charges | 65 | €30,641 | €32,561 | +€1,920 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,707 | -€78,027 | -€68,320 | -703.8% |
| Income taxes | 67/77 | €527 | €4,452 | +€3,925 | +745.4% |
| Profit (loss) for the period | 9904 | -€10,233 | -€82,479 | -€72,245 | -706.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,233 | -€82,479 | -€72,245 | -706.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.