VIRO: 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.
VIRO
Largest movements
- Receivables within one year +€833,006
up €833,006 (+881.0%), from €94,556 to €927,562
- Current investments -€489,697
down €489,697 (-25.5%), from €1.9m to €1.4m
- Tangible fixed assets +€470,323
up €470,323 (+54.6%), from €861,878 to €1.3m
- Cash +€453,168
up €453,168 (+614.6%), from €73,734 to €526,902
mainly Other debts (+€839,826) and Current investments (+€489,697)
- Other debts +€839,826
up €839,826 (+71.7%), from €1.2m to €2.0m
- Reserves +€265,437
up €265,437 (+33.8%), from €784,433 to €1.0m
of which Tax-exempt reserves: +€265,437
- Provisions +€87,255
up €87,255 (+251.3%), from €34,723 to €121,977
- Gross operating margin +€396,244
up €396,244 (+405.1%), from €97,821 to €494,065
- Financial charges -€181,196
down €181,196 (-56.6%), from €320,225 to €139,030
- Financial income +€57,269
up €57,269 (+42.3%), from €135,273 to €192,543
- Depreciation +€25,926
up €25,926 (+33.4%), from €77,716 to €103,642
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 | €3,928,719 | €5,194,079 | +€1.3m | +32.2% |
| Fixed assets | 21/28 | €1,839,291 | €2,309,614 | +€470,323 | +25.6% |
| Tangible fixed assets | 22/27 | €861,878 | €1,332,202 | +€470,323 | +54.6% |
| Land and buildings | 22 | €861,878 | €1,332,202 | +€470,323 | +54.6% |
| Financial fixed assets | 28 | €977,412 | €977,412 | = | 0.0% |
| Current assets | 29/58 | €2,089,428 | €2,884,465 | +€795,037 | +38.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €94,556 | €927,562 | +€833,006 | +881.0% |
| Other amounts receivable | 41 | €94,556 | €927,562 | +€833,006 | +881.0% |
| Current investments | 50/53 | €1,917,046 | €1,427,349 | -€489,697 | -25.5% |
| Cash at bank and in hand | 54/58 | €73,734 | €526,902 | +€453,168 | +614.6% |
| Deferred charges and accrued income | 490/1 | €4,091 | €2,651 | -€1,440 | -35.2% |
| Total equity and liabilities | 10/49 | €3,928,719 | €5,194,079 | +€1.3m | +32.2% |
| Equity | 10/15 | €2,712,286 | €3,027,171 | +€314,884 | +11.6% |
| Contributions | 10/11 | €1,642,053 | €1,642,053 | = | 0.0% |
| Capital | 10 | €1,642,053 | €1,642,053 | = | 0.0% |
| Issued capital | 100 | €1,766,000 | €1,766,000 | = | 0.0% |
| Uncalled capital | 101 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €784,433 | €1,049,870 | +€265,437 | +33.8% |
| Non-distributable reserves | 130/1 | €117,000 | €117,000 | = | 0.0% |
| Legal reserve | 130 | €117,000 | €117,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,433 | €332,870 | +€265,437 | +393.6% |
| Distributable reserves | 133 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,800 | €335,247 | +€49,447 | +17.3% |
| Provisions and deferred taxes | 16 | €34,723 | €121,977 | +€87,255 | +251.3% |
| Deferred taxes | 168 | €34,723 | €121,977 | +€87,255 | +251.3% |
| Amounts payable | 17/49 | €1,181,710 | €2,044,931 | +€863,221 | +73.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,181,710 | €2,044,931 | +€863,221 | +73.0% |
| Trade debts | 44 | €10,677 | €34,071 | +€23,394 | +219.1% |
| Suppliers | 440/4 | €10,677 | €34,071 | +€23,394 | +219.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,171,034 | €2,010,860 | +€839,826 | +71.7% |
| Non-recurring operating income | 76A | €1,750 | €389,702 | +€387,952 | +22168.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,716 | €103,642 | +€25,926 | +33.4% |
| Other operating charges | 640/8 | €35,746 | €39,197 | +€3,450 | +9.7% |
| Non-recurring operating charges | 66A | €352 | €2,600 | +€2,248 | +638.5% |
| Gross operating margin | 9900 | €97,821 | €494,065 | +€396,244 | +405.1% |
| Operating profit (loss) | 9901 | -€15,993 | €348,626 | +€364,619 | |
| Financial income | 75/76B | €135,273 | €192,543 | +€57,269 | +42.3% |
| Recurring financial income | 75 | €135,273 | €192,543 | +€57,269 | +42.3% |
| Financial charges | 65/66B | €320,225 | €139,030 | -€181,196 | -56.6% |
| Recurring financial charges | 65 | €320,225 | €139,030 | -€181,196 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | -€200,945 | €402,139 | +€603,084 | |
| Transfer from deferred taxes | 780 | €3,472 | €6,190 | +€2,717 | +78.3% |
| Transfer to deferred taxes | 680 | - | €93,444 | +€93,444 | |
| Profit (loss) for the period | 9904 | -€197,473 | €314,884 | +€512,358 | |
| Transfer from tax-exempt reserves | 789 | €6,743 | €14,896 | +€8,152 | +120.9% |
| Transfer to tax-exempt reserves | 689 | - | €280,333 | +€280,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€190,730 | €49,447 | +€240,177 |
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 30 September 2026 via checked.be.