Virtual Surveyor: 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.
Virtual Surveyor
Largest movements
- Cash +€846,058
up €846,058 (+543%), from €155,881 to €1.0m
mainly Current investments (+€575,054) and Net result for the year (+€478,976)
- Current investments -€575,054
down €575,054 (-50.2%), from €1.1m to €571,451
- Intangible fixed assets +€131,273
up €131,273 (+17.0%), from €772,953 to €904,226
- Tangible fixed assets +€84,094
up €84,094 (+73.1%), from €115,014 to €199,108
of which Other tangible fixed assets: +€74,638
- Receivables within one year +€82,876
up €82,876 (+93.0%), from €89,103 to €171,978
of which Other amounts receivable: +€55,405
- Reserves +€471,929
up €471,929 (+38.6%), from €1.2m to €1.7m
of which Distributable reserves: +€471,929
- Accrued charges and deferred income +€143,003
up €143,003 (+19.4%), from €736,510 to €879,513
- Debts after one year -€40,024
down €40,024 (-67.1%), from €59,635 to €19,611
- Gross operating margin +€133,028
up €133,028 (+12.3%), from €1.1m to €1.2m
- Depreciation +€28,122
up €28,122 (+8.6%), from €326,758 to €354,880
- Taxes +€18,199
up €18,199 (+33.3%), from €54,674 to €72,873
- Financial income +€15,473
up €15,473 (+161%), from €9,607 to €25,080
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 | €2,335,185 | €2,915,760 | +€580,574 | +24.9% |
| Fixed assets | 21/28 | €889,581 | €1,113,948 | +€224,367 | +25.2% |
| Intangible fixed assets | 21 | €772,953 | €904,226 | +€131,273 | +17.0% |
| Tangible fixed assets | 22/27 | €115,014 | €199,108 | +€84,094 | +73.1% |
| Plant, machinery and equipment | 23 | €1,950 | €4,659 | +€2,709 | +139% |
| Furniture and vehicles | 24 | €107,994 | €114,740 | +€6,747 | +6.2% |
| Other tangible fixed assets | 26 | €5,070 | €79,709 | +€74,638 | +1,472% |
| Financial fixed assets | 28 | €1,614 | €10,614 | +€9,000 | +558% |
| Current assets | 29/58 | €1,445,604 | €1,801,812 | +€356,207 | +24.6% |
| Amounts receivable within one year | 40/41 | €89,103 | €171,978 | +€82,876 | +93.0% |
| Trade receivables | 40 | €60,043 | €87,513 | +€27,471 | +45.8% |
| Other amounts receivable | 41 | €29,060 | €84,465 | +€55,405 | +191% |
| Current investments | 50/53 | €1,146,506 | €571,451 | -€575,054 | -50.2% |
| Cash at bank and in hand | 54/58 | €155,881 | €1,001,939 | +€846,058 | +543% |
| Deferred charges and accrued income | 490/1 | €54,115 | €56,443 | +€2,328 | +4.3% |
| Total equity and liabilities | 10/49 | €2,335,185 | €2,915,760 | +€580,574 | +24.9% |
| Equity | 10/15 | €1,406,627 | €1,878,556 | +€471,929 | +33.6% |
| Contributions | 10/11 | €183,574 | €183,574 | = | 0.0% |
| Capital | 10 | €183,574 | €183,574 | = | 0.0% |
| Issued capital | 100 | €183,574 | €183,574 | = | 0.0% |
| Reserves | 13 | €1,223,053 | €1,694,982 | +€471,929 | +38.6% |
| Non-distributable reserves | 130/1 | €439,809 | €439,809 | = | 0.0% |
| Legal reserve | 130 | €18,357 | €18,357 | = | 0.0% |
| Own shares acquired | 1312 | €421,451 | €421,451 | = | 0.0% |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €783,245 | €1,255,173 | +€471,929 | +60.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €928,558 | €1,037,204 | +€108,646 | +11.7% |
| Amounts payable after more than one year | 17 | €59,635 | €19,611 | -€40,024 | -67.1% |
| Financial debts | 170/4 | €59,635 | €19,611 | -€40,024 | -67.1% |
| Amounts payable within one year | 42/48 | €132,414 | €138,080 | +€5,666 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €47,454 | €42,929 | -€4,526 | -9.5% |
| Financial debts | 43 | €271 | €1,462 | +€1,191 | +440% |
| Credit institutions | 430/8 | €271 | €1,462 | +€1,191 | +440% |
| Trade debts | 44 | €63,284 | €67,171 | +€3,887 | +6.1% |
| Suppliers | 440/4 | €63,284 | €67,171 | +€3,887 | +6.1% |
| Taxes, remuneration and social security | 45 | €9,770 | €19,472 | +€9,702 | +99.3% |
| Taxes | 450/3 | €0 | €729 | +€729 | |
| Remuneration and social security | 454/9 | €9,770 | €18,743 | +€8,973 | +91.8% |
| Other amounts payable | 47/48 | €11,635 | €7,047 | -€4,588 | -39.4% |
| Accrued charges and deferred income | 492/3 | €736,510 | €879,513 | +€143,003 | +19.4% |
| Non-recurring operating income | 76A | - | €4,023 | +€4,023 | |
| Remuneration, social security and pensions | 62 | €243,370 | €243,202 | -€168 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,758 | €354,880 | +€28,122 | +8.6% |
| Other operating charges | 640/8 | €1,705 | €6,475 | +€4,769 | +280% |
| Non-recurring operating charges | 66A | €0 | €6,657 | +€6,657 | |
| Gross operating margin | 9900 | €1,080,991 | €1,214,019 | +€133,028 | +12.3% |
| Operating profit (loss) | 9901 | €509,158 | €602,807 | +€93,648 | +18.4% |
| Financial income | 75/76B | €9,607 | €25,080 | +€15,473 | +161% |
| Recurring financial income | 75 | €9,607 | €25,080 | +€15,473 | +161% |
| Financial charges | 65/66B | €64,876 | €76,037 | +€11,161 | +17.2% |
| Recurring financial charges | 65 | €64,876 | €76,037 | +€11,161 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €453,889 | €551,849 | +€97,960 | +21.6% |
| Income taxes | 67/77 | €54,674 | €72,873 | +€18,199 | +33.3% |
| Profit (loss) for the period | 9904 | €399,215 | €478,976 | +€79,761 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €399,215 | €478,976 | +€79,761 | +20.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.