VIRTAUS: 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.
VIRTAUS
Largest movements
- Receivables within one year -€12,662
down €12,662 (-26.2%), from €48,258 to €35,596
of which Trade receivables: -€19,298
- Cash +€5,461
up €5,461 (+1113.4%), from €490 to €5,951
mainly Net result for the year (+€25,298) and Receivables within one year (+€12,662)
- Tangible fixed assets -€4,937
down €4,937 (-41.1%), from €12,008 to €7,071
- Other debts -€48,822
down €48,822 (-53.5%), from €91,266 to €42,444
- Reserves +€23,384
up €23,384 (+40.6%), from €57,598 to €80,982
of which Distributable reserves: +€23,384
- Tax, wage and social debts +€9,204
up €9,204 (+86.9%), from €10,598 to €19,803
- Trade debts +€2,678
up €2,678 (+236.1%), from €1,134 to €3,812
- Short-term financial debts +€2,154
up €2,154 (+177.2%), from €1,216 to €3,370
- Gross operating margin +€26,568
up €26,568 (+130.0%), from €20,444 to €47,012
- Taxes +€8,467
up €8,467 (+245.3%), from €3,452 to €11,918
- Financial charges -€2,207
down €2,207 (-31.9%), from €6,914 to €4,707
- Depreciation -€513
down €513 (-9.4%), from €5,450 to €4,937
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 | €172,298 | €162,811 | -€9,487 | -5.5% |
| Fixed assets | 21/28 | €12,008 | €7,071 | -€4,937 | -41.1% |
| Tangible fixed assets | 22/27 | €12,008 | €7,071 | -€4,937 | -41.1% |
| Land and buildings | 22 | €6,072 | €4,220 | -€1,852 | -30.5% |
| Plant, machinery and equipment | 23 | €4,659 | €2,851 | -€1,809 | -38.8% |
| Furniture and vehicles | 24 | €1,276 | €0 | -€1,276 | -100.0% |
| Current assets | 29/58 | €160,290 | €155,740 | -€4,550 | -2.8% |
| Amounts receivable within one year | 40/41 | €48,258 | €35,596 | -€12,662 | -26.2% |
| Trade receivables | 40 | €41,486 | €22,188 | -€19,298 | -46.5% |
| Other amounts receivable | 41 | €6,772 | €13,408 | +€6,636 | +98.0% |
| Current investments | 50/53 | €108,148 | €109,548 | +€1,400 | +1.3% |
| Cash at bank and in hand | 54/58 | €490 | €5,951 | +€5,461 | +1113.4% |
| Deferred charges and accrued income | 490/1 | €3,394 | €4,645 | +€1,251 | +36.9% |
| Total equity and liabilities | 10/49 | €172,298 | €162,811 | -€9,487 | -5.5% |
| Equity | 10/15 | €68,084 | €93,382 | +€25,298 | +37.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €57,598 | €80,982 | +€23,384 | +40.6% |
| Tax-exempt reserves | 132 | €1,168 | €1,168 | = | 0.0% |
| Distributable reserves | 133 | €56,430 | €79,814 | +€23,384 | +41.4% |
| Profit (loss) carried forward | 14 | -€1,914 | €0 | +€1,914 | |
| Amounts payable | 17/49 | €104,214 | €69,429 | -€34,785 | -33.4% |
| Amounts payable within one year | 42/48 | €104,214 | €69,429 | -€34,785 | -33.4% |
| Financial debts | 43 | €1,216 | €3,370 | +€2,154 | +177.2% |
| Credit institutions | 430/8 | €1,216 | €3,370 | +€2,154 | +177.2% |
| Trade debts | 44 | €1,134 | €3,812 | +€2,678 | +236.1% |
| Suppliers | 440/4 | €1,134 | €3,812 | +€2,678 | +236.1% |
| Taxes, remuneration and social security | 45 | €10,598 | €19,803 | +€9,204 | +86.9% |
| Taxes | 450/3 | €10,598 | €19,803 | +€9,204 | +86.9% |
| Other amounts payable | 47/48 | €91,266 | €42,444 | -€48,822 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,450 | €4,937 | -€513 | -9.4% |
| Other operating charges | 640/8 | €451 | €724 | +€273 | +60.5% |
| Gross operating margin | 9900 | €20,444 | €47,012 | +€26,568 | +130.0% |
| Operating profit (loss) | 9901 | €14,542 | €41,351 | +€26,809 | +184.4% |
| Financial income | 75/76B | €251 | €572 | +€321 | +127.9% |
| Recurring financial income | 75 | €251 | €572 | +€321 | +127.9% |
| Financial charges | 65/66B | €6,914 | €4,707 | -€2,207 | -31.9% |
| Recurring financial charges | 65 | €6,914 | €4,707 | -€2,207 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €7,879 | €37,216 | +€29,337 | +372.3% |
| Income taxes | 67/77 | €3,452 | €11,918 | +€8,467 | +245.3% |
| Profit (loss) for the period | 9904 | €4,427 | €25,298 | +€20,870 | +471.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,427 | €25,298 | +€20,870 | +471.4% |
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 29 September 2026 via checked.be.