VIRGO: 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.
VIRGO
Largest movements
- Stocks and contracts -€18,543
down €18,543 (-10.7%), from €172,588 to €154,045
- Trade debts -€24,458
down €24,458 (-98.2%), from €24,901 to €443
- Other debts +€19,739
up €19,739 (+26.0%), from €75,940 to €95,679
- Short-term financial debts -€11,378
down €11,378 (-40.3%), from €28,204 to €16,825
of which Credit institutions: -€6,290
- Profit (loss) carried forward -€6,561
down €6,561 (-3.4%), from -€194,547 to -€201,108
- Tax, wage and social debts +€2,369
new in 2025: €2,369
- Gross operating margin -€22,148
down €22,148, from €19,004 to -€3,144
- Depreciation -€9,530
down €9,530 (-99.6%), from €9,571 to €41
- Financial charges -€757
down €757 (-27.8%), from €2,729 to €1,972
- Other operating charges +€209
up €209 (+16.0%), from €1,305 to €1,514
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,234 | €158,205 | -€19,028 | -10.7% |
| Fixed assets | 21/28 | €3,341 | €3,300 | -€41 | -1.2% |
| Tangible fixed assets | 22/27 | €41 | - | -€41 | |
| Furniture and vehicles | 24 | €41 | - | -€41 | |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €173,893 | €154,905 | -€18,988 | -10.9% |
| Stocks and contracts in progress | 3 | €172,588 | €154,045 | -€18,543 | -10.7% |
| Stocks | 30/36 | €172,588 | €154,045 | -€18,543 | -10.7% |
| Amounts receivable within one year | 40/41 | €316 | - | -€316 | |
| Other amounts receivable | 41 | €316 | - | -€316 | |
| Deferred charges and accrued income | 490/1 | €988 | €860 | -€128 | -13.0% |
| Total equity and liabilities | 10/49 | €177,234 | €158,205 | -€19,028 | -10.7% |
| Equity | 10/15 | -€154,080 | -€160,641 | -€6,561 | -4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,868 | €21,868 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,008 | €20,008 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€194,547 | -€201,108 | -€6,561 | -3.4% |
| Amounts payable | 17/49 | €331,313 | €318,846 | -€12,467 | -3.8% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,045 | €115,316 | -€13,728 | -10.6% |
| Financial debts | 43 | €28,204 | €16,825 | -€11,378 | -40.3% |
| Credit institutions | 430/8 | €6,290 | - | -€6,290 | |
| Other loans | 439 | €21,914 | €16,825 | -€5,089 | -23.2% |
| Trade debts | 44 | €24,901 | €443 | -€24,458 | -98.2% |
| Suppliers | 440/4 | €24,901 | €443 | -€24,458 | -98.2% |
| Taxes, remuneration and social security | 45 | - | €2,369 | +€2,369 | |
| Taxes | 450/3 | - | €2,369 | +€2,369 | |
| Other amounts payable | 47/48 | €75,940 | €95,679 | +€19,739 | +26.0% |
| Accrued charges and deferred income | 492/3 | €2,269 | €3,530 | +€1,261 | +55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,571 | €41 | -€9,530 | -99.6% |
| Other operating charges | 640/8 | €1,305 | €1,514 | +€209 | +16.0% |
| Gross operating margin | 9900 | €19,004 | -€3,144 | -€22,148 | |
| Operating profit (loss) | 9901 | €8,128 | -€4,699 | -€12,827 | |
| Financial income | 75/76B | - | €109 | +€109 | |
| Recurring financial income | 75 | - | €109 | +€109 | |
| Financial charges | 65/66B | €2,729 | €1,972 | -€757 | -27.8% |
| Recurring financial charges | 65 | €2,729 | €1,972 | -€757 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €5,399 | -€6,561 | -€11,960 | |
| Profit (loss) for the period | 9904 | €5,399 | -€6,561 | -€11,960 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,399 | -€6,561 | -€11,960 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.