Virtual Words: 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.
Virtual Words
Largest movements
- Receivables within one year +€22,598
up €22,598 (+33.6%), from €67,202 to €89,799
of which Trade receivables: +€22,678
- Cash -€9,160
down €9,160 (-4.0%), from €229,147 to €219,987
mainly Contributions, distributions and other (-€58,402) and Receivables within one year (-€22,598)
- Other debts +€46,174
up €46,174 (+234.8%), from €19,662 to €65,835
- Reserves -€37,954
down €37,954 (-16.3%), from €233,501 to €195,547
of which Distributable reserves: -€36,095
- Tax, wage and social debts +€9,806
up €9,806 (+167.0%), from €5,871 to €15,677
- Trade debts -€5,200
down €5,200 (-12.8%), from €40,610 to €35,410
- Gross operating margin -€16,012
down €16,012 (-33.0%), from €48,534 to €32,522
- Taxes -€4,050
down €4,050 (-29.5%), from €13,725 to €9,675
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 | €318,235 | €331,061 | +€12,826 | +4.0% |
| Fixed assets | 21/28 | €20,637 | €20,025 | -€611 | -3.0% |
| Tangible fixed assets | 22/27 | €6,882 | €6,271 | -€611 | -8.9% |
| Furniture and vehicles | 24 | €6,882 | €6,271 | -€611 | -8.9% |
| Financial fixed assets | 28 | €13,754 | €13,754 | = | 0.0% |
| Current assets | 29/58 | €297,599 | €311,036 | +€13,437 | +4.5% |
| Amounts receivable within one year | 40/41 | €67,202 | €89,799 | +€22,598 | +33.6% |
| Trade receivables | 40 | €29,881 | €52,560 | +€22,678 | +75.9% |
| Other amounts receivable | 41 | €37,320 | €37,240 | -€81 | -0.2% |
| Cash at bank and in hand | 54/58 | €229,147 | €219,987 | -€9,160 | -4.0% |
| Deferred charges and accrued income | 490/1 | €1,250 | €1,250 | = | 0.0% |
| Total equity and liabilities | 10/49 | €318,235 | €331,061 | +€12,826 | +4.0% |
| Equity | 10/15 | €252,093 | €214,139 | -€37,954 | -15.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €233,501 | €195,547 | -€37,954 | -16.3% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €231,642 | €195,547 | -€36,095 | -15.6% |
| Amounts payable | 17/49 | €66,142 | €116,922 | +€50,780 | +76.8% |
| Amounts payable within one year | 42/48 | €66,142 | €116,922 | +€50,780 | +76.8% |
| Trade debts | 44 | €40,610 | €35,410 | -€5,200 | -12.8% |
| Suppliers | 440/4 | €40,610 | €35,410 | -€5,200 | -12.8% |
| Taxes, remuneration and social security | 45 | €5,871 | €15,677 | +€9,806 | +167.0% |
| Taxes | 450/3 | €5,871 | €15,677 | +€9,806 | +167.0% |
| Other amounts payable | 47/48 | €19,662 | €65,835 | +€46,174 | +234.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,043 | €2,798 | -€245 | -8.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €48,534 | €32,522 | -€16,012 | -33.0% |
| Operating profit (loss) | 9901 | €45,104 | €29,324 | -€15,779 | -35.0% |
| Financial income | 75/76B | €965 | €1,064 | +€100 | +10.3% |
| Recurring financial income | 75 | €965 | €1,064 | +€100 | +10.3% |
| Financial charges | 65/66B | €484 | €266 | -€218 | -45.1% |
| Recurring financial charges | 65 | €484 | €266 | -€218 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €45,584 | €30,123 | -€15,461 | -33.9% |
| Income taxes | 67/77 | €13,725 | €9,675 | -€4,050 | -29.5% |
| Profit (loss) for the period | 9904 | €31,859 | €20,447 | -€11,411 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,859 | €20,447 | -€11,411 | -35.8% |
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 7 October 2026 via checked.be.