VIRGUL: 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.
VIRGUL
Largest movements
- Cash -€128,781
down €128,781 (-24.1%), from €534,652 to €405,871
mainly Investment in fixed assets (net) (-€142,353) and Current investments (-€100,000)
- Current investments +€100,000
up €100,000 (+25.0%), from €400,000 to €500,000
- Tangible fixed assets +€85,986
up €85,986 (+60.1%), from €143,184 to €229,170
of which Furniture and vehicles: +€110,416
- Stocks and contracts -€42,728
down €42,728 (-10.4%), from €410,797 to €368,069
- Receivables within one year +€20,561
up €20,561 (+9.1%), from €226,627 to €247,188
of which Other amounts receivable: +€16,900
- Reserves +€88,916
up €88,916 (+9.0%), from €992,736 to €1.1m
of which Distributable reserves: +€88,916
- Trade debts -€35,256
down €35,256 (-10.7%), from €330,746 to €295,490
- Debts after one year -€22,676
down €22,676 (-22.4%), from €101,375 to €78,699
- Staff costs +€22,816
up €22,816 (+11.8%), from €192,794 to €215,610
- Depreciation +€22,172
up €22,172 (+64.8%), from €34,194 to €56,366
- Taxes -€12,195
down €12,195 (-17.4%), from €70,036 to €57,841
- Financial income +€11,394
up €11,394 (+35.2%), from €32,377 to €43,770
- Gross operating margin -€5,438
down €5,438 (-1.2%), from €437,592 to €432,154
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 | €1,718,013 | €1,753,124 | +€35,111 | +2.0% |
| Fixed assets | 21/28 | €144,453 | €230,439 | +€85,986 | +59.5% |
| Tangible fixed assets | 22/27 | €143,184 | €229,170 | +€85,986 | +60.1% |
| Plant, machinery and equipment | 23 | €2,487 | €121 | -€2,365 | -95.1% |
| Furniture and vehicles | 24 | €19,451 | €129,868 | +€110,416 | +567.7% |
| Other tangible fixed assets | 26 | €121,246 | €99,181 | -€22,065 | -18.2% |
| Financial fixed assets | 28 | €1,269 | €1,269 | = | 0.0% |
| Current assets | 29/58 | €1,573,560 | €1,522,685 | -€50,875 | -3.2% |
| Stocks and contracts in progress | 3 | €410,797 | €368,069 | -€42,728 | -10.4% |
| Stocks | 30/36 | €410,797 | €368,069 | -€42,728 | -10.4% |
| Amounts receivable within one year | 40/41 | €226,627 | €247,188 | +€20,561 | +9.1% |
| Trade receivables | 40 | €7,796 | €11,458 | +€3,662 | +47.0% |
| Other amounts receivable | 41 | €218,831 | €235,731 | +€16,900 | +7.7% |
| Current investments | 50/53 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €534,652 | €405,871 | -€128,781 | -24.1% |
| Deferred charges and accrued income | 490/1 | €1,483 | €1,555 | +€72 | +4.9% |
| Total equity and liabilities | 10/49 | €1,718,013 | €1,753,124 | +€35,111 | +2.0% |
| Equity | 10/15 | €1,123,989 | €1,212,905 | +€88,916 | +7.9% |
| Contributions | 10/11 | €131,000 | €131,000 | = | 0.0% |
| Reserves | 13 | €992,736 | €1,081,652 | +€88,916 | +9.0% |
| Non-distributable reserves | 130/1 | €13,100 | €13,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,100 | €13,100 | = | 0.0% |
| Distributable reserves | 133 | €979,636 | €1,068,552 | +€88,916 | +9.1% |
| Profit (loss) carried forward | 14 | €253 | €253 | = | 0.0% |
| Amounts payable | 17/49 | €594,024 | €540,219 | -€53,805 | -9.1% |
| Amounts payable after more than one year | 17 | €101,375 | €78,699 | -€22,676 | -22.4% |
| Financial debts | 170/4 | €101,375 | €78,699 | -€22,676 | -22.4% |
| Amounts payable within one year | 42/48 | €492,649 | €454,520 | -€38,129 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €22,515 | €22,676 | +€160 | +0.7% |
| Trade debts | 44 | €330,746 | €295,490 | -€35,256 | -10.7% |
| Suppliers | 440/4 | €330,746 | €295,490 | -€35,256 | -10.7% |
| Advances received on contracts in progress | 46 | €13,506 | €13,506 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €118,123 | €104,373 | -€13,750 | -11.6% |
| Taxes | 450/3 | €78,722 | €58,337 | -€20,385 | -25.9% |
| Remuneration and social security | 454/9 | €39,401 | €46,036 | +€6,635 | +16.8% |
| Other amounts payable | 47/48 | €7,760 | €18,476 | +€10,716 | +138.1% |
| Accrued charges and deferred income | 492/3 | - | €7,000 | +€7,000 | |
| Non-recurring operating income | 76A | €0 | €14,000 | +€14,000 | |
| Remuneration, social security and pensions | 62 | €192,794 | €215,610 | +€22,816 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,194 | €56,366 | +€22,172 | +64.8% |
| Other operating charges | 640/8 | €2,862 | €2,042 | -€820 | -28.7% |
| Gross operating margin | 9900 | €437,592 | €432,154 | -€5,438 | -1.2% |
| Operating profit (loss) | 9901 | €207,741 | €158,135 | -€49,606 | -23.9% |
| Financial income | 75/76B | €32,377 | €43,770 | +€11,394 | +35.2% |
| Recurring financial income | 75 | €32,377 | €43,770 | +€11,394 | +35.2% |
| Financial charges | 65/66B | €12,791 | €10,609 | -€2,182 | -17.1% |
| Recurring financial charges | 65 | €12,791 | €10,609 | -€2,182 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €227,327 | €191,296 | -€36,030 | -15.8% |
| Income taxes | 67/77 | €70,036 | €57,841 | -€12,195 | -17.4% |
| Profit (loss) for the period | 9904 | €157,291 | €133,455 | -€23,835 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €157,291 | €133,455 | -€23,835 | -15.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.