VIREL: what changed
VIREL
Largest movements
- Cash +€43,619
up €43,619 (+121%), from €36,161 to €79,780
mainly Net result for the year (+€32,237) and Receivables within one year (+€15,925)
- Receivables within one year -€15,925
down €15,925 (-79.6%), from €20,003 to €4,078
of which Trade receivables: -€14,570
- Tangible fixed assets -€8,649
down €8,649 (-22.8%), from €37,874 to €29,226
- Deferred charges and accrued income +€6,090
up €6,090 (+415%), from €1,468 to €7,558
- Reserves +€28,137
up €28,137 (+50.4%), from €55,827 to €83,964
- Debts after one year -€9,108
down €9,108 (-43.1%), from €21,143 to €12,034
- Accrued charges and deferred income +€6,271
new in 2025: €6,271
- Gross operating margin -€24,733
down €24,733 (-31.1%), from €79,519 to €54,786
- Taxes -€5,645
down €5,645 (-38.6%), from €14,622 to €8,977
- Financial charges +€2,956
up €2,956 (+1,847,244%), from €0 to €2,956
- Depreciation +€992
up €992 (+11.7%), from €8,505 to €9,497
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €95,507 | €120,642 | +€25,136 | +26.3% |
| Fixed assets | 21/28 | €37,874 | €29,226 | -€8,649 | -22.8% |
| Tangible fixed assets | 22/27 | €37,874 | €29,226 | -€8,649 | -22.8% |
| Furniture and vehicles | 24 | €37,874 | €29,226 | -€8,649 | -22.8% |
| Current assets | 29/58 | €57,633 | €91,417 | +€33,784 | +58.6% |
| Amounts receivable within one year | 40/41 | €20,003 | €4,078 | -€15,925 | -79.6% |
| Trade receivables | 40 | €15,125 | €555 | -€14,570 | -96.3% |
| Other amounts receivable | 41 | €4,878 | €3,523 | -€1,355 | -27.8% |
| Cash at bank and in hand | 54/58 | €36,161 | €79,780 | +€43,619 | +121% |
| Deferred charges and accrued income | 490/1 | €1,468 | €7,558 | +€6,090 | +415% |
| Total equity and liabilities | 10/49 | €95,507 | €120,642 | +€25,136 | +26.3% |
| Equity | 10/15 | €58,827 | €86,964 | +€28,137 | +47.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €55,827 | €83,964 | +€28,137 | +50.4% |
| Distributable reserves | 133 | €55,827 | €83,964 | +€28,137 | +50.4% |
| Amounts payable | 17/49 | €36,680 | €33,678 | -€3,002 | -8.2% |
| Amounts payable after more than one year | 17 | €21,143 | €12,034 | -€9,108 | -43.1% |
| Financial debts | 170/4 | €21,143 | €12,034 | -€9,108 | -43.1% |
| Amounts payable within one year | 42/48 | €15,537 | €15,373 | -€164 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €10,217 | €10,625 | +€408 | +4.0% |
| Trade debts | 44 | €96 | €686 | +€590 | +614% |
| Suppliers | 440/4 | €96 | €686 | +€590 | +614% |
| Taxes, remuneration and social security | 45 | €4,251 | €4,005 | -€246 | -5.8% |
| Taxes | 450/3 | €4,251 | €4,005 | -€246 | -5.8% |
| Other amounts payable | 47/48 | €973 | €58 | -€916 | -94.1% |
| Accrued charges and deferred income | 492/3 | - | €6,271 | +€6,271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,505 | €9,497 | +€992 | +11.7% |
| Other operating charges | 640/8 | €565 | €1,148 | +€583 | +103% |
| Gross operating margin | 9900 | €79,519 | €54,786 | -€24,733 | -31.1% |
| Operating profit (loss) | 9901 | €70,449 | €44,140 | -€26,309 | -37.3% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €0 | €2,956 | +€2,956 | +1,847,244% |
| Recurring financial charges | 65 | €0 | €2,956 | +€2,956 | +1,847,244% |
| Profit (loss) for the period before taxes | 9903 | €70,449 | €41,214 | -€29,235 | -41.5% |
| Income taxes | 67/77 | €14,622 | €8,977 | -€5,645 | -38.6% |
| Profit (loss) for the period | 9904 | €55,827 | €32,237 | -€23,590 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,827 | €32,237 | -€23,590 | -42.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.