VIREO: 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.
VIREO
Largest movements
- Cash -€110,786
down €110,786 (-49.0%), from €226,027 to €115,241
mainly Other debts (-€118,493) and Debts after one year (-€46,648)
- Receivables within one year +€36,774
up €36,774 (+15.8%), from €232,541 to €269,315
of which Trade receivables: +€33,736
- Other debts -€118,493
down €118,493 (-32.7%), from €362,877 to €244,384
- Reserves +€101,393
up €101,393 (+34.1%), from €297,543 to €398,936
of which Distributable reserves: +€101,393
- Debts after one year -€46,648
down €46,648 (-79.8%), from €58,448 to €11,799
- Current portion of long-term debt -€17,850
down €17,850 (-26.1%), from €68,347 to €50,497
- Financial income -€199,990
down €199,990 (-99.3%), from €201,330 to €1,340
- Gross operating margin +€22,205
up €22,205 (+18.8%), from €118,046 to €140,251
- Taxes +€6,565
up €6,565 (+27.5%), from €23,836 to €30,401
- Financial charges -€2,227
down €2,227 (-21.6%), from €10,303 to €8,076
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 | €887,465 | €813,193 | -€74,272 | -8.4% |
| Fixed assets | 21/28 | €428,897 | €428,416 | -€481 | -0.1% |
| Tangible fixed assets | 22/27 | €2,397 | €1,916 | -€481 | -20.1% |
| Furniture and vehicles | 24 | €28 | €0 | -€28 | -100.0% |
| Other tangible fixed assets | 26 | €2,369 | €1,916 | -€453 | -19.1% |
| Financial fixed assets | 28 | €426,500 | €426,500 | = | 0.0% |
| Current assets | 29/58 | €458,568 | €384,777 | -€73,791 | -16.1% |
| Amounts receivable within one year | 40/41 | €232,541 | €269,315 | +€36,774 | +15.8% |
| Trade receivables | 40 | €32,239 | €65,975 | +€33,736 | +104.6% |
| Other amounts receivable | 41 | €200,302 | €203,340 | +€3,038 | +1.5% |
| Cash at bank and in hand | 54/58 | €226,027 | €115,241 | -€110,786 | -49.0% |
| Deferred charges and accrued income | 490/1 | €0 | €221 | +€221 | |
| Total equity and liabilities | 10/49 | €887,465 | €813,193 | -€74,272 | -8.4% |
| Equity | 10/15 | €357,543 | €458,936 | +€101,393 | +28.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €297,543 | €398,936 | +€101,393 | +34.1% |
| Non-distributable reserves | 130/1 | €408 | €408 | = | 0.0% |
| Reserves not available under the articles | 1311 | €408 | €408 | = | 0.0% |
| Distributable reserves | 133 | €297,135 | €398,527 | +€101,393 | +34.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €529,922 | €354,257 | -€175,665 | -33.1% |
| Amounts payable after more than one year | 17 | €58,448 | €11,799 | -€46,648 | -79.8% |
| Financial debts | 170/4 | €58,448 | €11,799 | -€46,648 | -79.8% |
| Amounts payable within one year | 42/48 | €465,143 | €339,127 | -€126,016 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €68,347 | €50,497 | -€17,850 | -26.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,845 | €4,700 | +€1,856 | +65.2% |
| Suppliers | 440/4 | €2,845 | €4,700 | +€1,856 | +65.2% |
| Taxes, remuneration and social security | 45 | €31,075 | €39,546 | +€8,471 | +27.3% |
| Taxes | 450/3 | €31,075 | €39,546 | +€8,471 | +27.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €362,877 | €244,384 | -€118,493 | -32.7% |
| Accrued charges and deferred income | 492/3 | €6,331 | €3,331 | -€3,000 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €662 | €481 | -€181 | -27.3% |
| Other operating charges | 640/8 | €1,824 | €1,241 | -€583 | -32.0% |
| Gross operating margin | 9900 | €118,046 | €140,251 | +€22,205 | +18.8% |
| Operating profit (loss) | 9901 | €115,560 | €138,529 | +€22,969 | +19.9% |
| Financial income | 75/76B | €201,330 | €1,340 | -€199,990 | -99.3% |
| Recurring financial income | 75 | €201,330 | €1,340 | -€199,990 | -99.3% |
| Financial charges | 65/66B | €10,303 | €8,076 | -€2,227 | -21.6% |
| Recurring financial charges | 65 | €10,303 | €8,076 | -€2,227 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €306,587 | €131,793 | -€174,794 | -57.0% |
| Income taxes | 67/77 | €23,836 | €30,401 | +€6,565 | +27.5% |
| Profit (loss) for the period | 9904 | €282,751 | €101,393 | -€181,359 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €282,751 | €101,393 | -€181,359 | -64.1% |
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 10 October 2026 via checked.be.