VIRJO: 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.
VIRJO
Largest movements
- Current investments +€274,415
up €274,415 (+14.4%), from €1.9m to €2.2m
- Deferred charges and accrued income +€170,473
up €170,473 (+11,872%), from €1,436 to €171,909
- Receivables within one year -€82,252
down €82,252 (-3.2%), from €2.6m to €2.5m
of which Other amounts receivable: -€82,306
- Reserves +€352,711
up €352,711 (+7.6%), from €4.6m to €5.0m
of which Distributable reserves: +€243,251
- Gross operating margin +€171,647
up €171,647 (+141%), from €121,855 to €293,502
- Financial income +€134,265
up €134,265 (+128%), from €104,702 to €238,966
- Taxes +€89,587
up €89,587 (+162%), from €55,414 to €145,001
- Financial charges +€17,377
up €17,377 (+964%), from €1,803 to €19,181
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.
Derived cash bridge
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 | €5,221,603 | €5,576,480 | +€354,877 | +6.8% |
| Fixed assets | 21/28 | €407,265 | €397,815 | -€9,450 | -2.3% |
| Tangible fixed assets | 22/27 | €407,265 | €397,815 | -€9,450 | -2.3% |
| Land and buildings | 22 | €405,336 | €394,782 | -€10,554 | -2.6% |
| Plant, machinery and equipment | 23 | €1,929 | €1,454 | -€475 | -24.6% |
| Furniture and vehicles | 24 | - | €1,579 | +€1,579 | |
| Current assets | 29/58 | €4,814,338 | €5,178,665 | +€364,327 | +7.6% |
| Amounts receivable within one year | 40/41 | €2,587,137 | €2,504,885 | -€82,252 | -3.2% |
| Trade receivables | 40 | €4,532 | €4,585 | +€53 | +1.2% |
| Other amounts receivable | 41 | €2,582,606 | €2,500,300 | -€82,306 | -3.2% |
| Current investments | 50/53 | €1,907,434 | €2,181,849 | +€274,415 | +14.4% |
| Cash at bank and in hand | 54/58 | €318,331 | €320,022 | +€1,691 | +0.5% |
| Deferred charges and accrued income | 490/1 | €1,436 | €171,909 | +€170,473 | +11,872% |
| Total equity and liabilities | 10/49 | €5,221,603 | €5,576,480 | +€354,877 | +6.8% |
| Equity | 10/15 | €5,174,851 | €5,527,562 | +€352,711 | +6.8% |
| Contributions | 10/11 | €560,000 | €560,000 | = | 0.0% |
| Capital | 10 | €560,000 | €560,000 | = | 0.0% |
| Issued capital | 100 | €560,000 | €560,000 | = | 0.0% |
| Reserves | 13 | €4,614,851 | €4,967,562 | +€352,711 | +7.6% |
| Non-distributable reserves | 130/1 | €56,000 | €56,000 | = | 0.0% |
| Legal reserve | 130 | €56,000 | €56,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,360 | €176,820 | +€109,460 | +163% |
| Distributable reserves | 133 | €4,491,491 | €4,734,742 | +€243,251 | +5.4% |
| Amounts payable | 17/49 | €46,752 | €48,918 | +€2,166 | +4.6% |
| Amounts payable within one year | 42/48 | €44,298 | €47,449 | +€3,151 | +7.1% |
| Trade debts | 44 | €18,270 | €243 | -€18,028 | -98.7% |
| Suppliers | 440/4 | €18,270 | €243 | -€18,028 | -98.7% |
| Taxes, remuneration and social security | 45 | €26,028 | €43,974 | +€17,946 | +68.9% |
| Taxes | 450/3 | €26,028 | €43,974 | +€17,946 | +68.9% |
| Other amounts payable | 47/48 | - | €3,232 | +€3,232 | |
| Accrued charges and deferred income | 492/3 | €2,454 | €1,469 | -€984 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,803 | €12,478 | +€675 | +5.7% |
| Other operating charges | 640/8 | €3,112 | €3,097 | -€15 | -0.5% |
| Gross operating margin | 9900 | €121,855 | €293,502 | +€171,647 | +141% |
| Operating profit (loss) | 9901 | €106,940 | €277,927 | +€170,986 | +160% |
| Financial income | 75/76B | €104,702 | €238,966 | +€134,265 | +128% |
| Recurring financial income | 75 | €104,702 | €238,966 | +€134,265 | +128% |
| Financial charges | 65/66B | €1,803 | €19,181 | +€17,377 | +964% |
| Recurring financial charges | 65 | €1,803 | €19,181 | +€17,377 | +964% |
| Profit (loss) for the period before taxes | 9903 | €209,838 | €497,712 | +€287,874 | +137% |
| Income taxes | 67/77 | €55,414 | €145,001 | +€89,587 | +162% |
| Profit (loss) for the period | 9904 | €154,424 | €352,711 | +€198,287 | +128% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €67,360 | €109,460 | +€42,100 | +62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,064 | €243,251 | +€156,187 | +179% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.