VIRTUOZ: 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.
VIRTUOZ
Largest movements
- Intangible fixed assets -€46,183
down €46,183 (-23.8%), from €193,797 to €147,613
- Receivables within one year -€44,583
down €44,583 (-72.1%), from €61,806 to €17,223
of which Trade receivables: -€43,015
- Cash +€26,119
up €26,119 (+84.6%), from €30,885 to €57,004
mainly Depreciation (+€79,975) and Receivables within one year (+€44,583)
- Tangible fixed assets -€7,992
down €7,992 (-6.1%), from €131,657 to €123,664
- Trade debts -€48,569
down €48,569 (-91.8%), from €52,927 to €4,358
- Other debts -€40,746
down €40,746 (-16.4%), from €248,223 to €207,476
- Profit (loss) carried forward +€12,117
up €12,117, from -€6,895 to €5,222
- Tax, wage and social debts +€7,749
up €7,749 (+76.2%), from €10,175 to €17,924
of which Taxes: +€5,089
- Gross operating margin +€90,871
up €90,871 (+104.3%), from €87,145 to €178,016
- Staff costs +€36,699
up €36,699 (+75.4%), from €48,643 to €85,342
- Depreciation +€14,566
up €14,566 (+22.3%), from €65,409 to €79,975
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 | €434,187 | €361,809 | -€72,379 | -16.7% |
| Fixed assets | 21/28 | €337,634 | €283,458 | -€54,176 | -16.0% |
| Intangible fixed assets | 21 | €193,797 | €147,613 | -€46,183 | -23.8% |
| Tangible fixed assets | 22/27 | €131,657 | €123,664 | -€7,992 | -6.1% |
| Plant, machinery and equipment | 23 | €13,987 | €11,007 | -€2,980 | -21.3% |
| Furniture and vehicles | 24 | €18,624 | €16,143 | -€2,481 | -13.3% |
| Other tangible fixed assets | 26 | €99,046 | €96,514 | -€2,531 | -2.6% |
| Financial fixed assets | 28 | €12,180 | €12,180 | = | 0.0% |
| Current assets | 29/58 | €96,554 | €78,351 | -€18,203 | -18.9% |
| Stocks and contracts in progress | 3 | €288 | €288 | = | 0.0% |
| Stocks | 30/36 | €288 | €288 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,806 | €17,223 | -€44,583 | -72.1% |
| Trade receivables | 40 | €43,015 | - | -€43,015 | |
| Other amounts receivable | 41 | €18,791 | €17,223 | -€1,568 | -8.3% |
| Cash at bank and in hand | 54/58 | €30,885 | €57,004 | +€26,119 | +84.6% |
| Deferred charges and accrued income | 490/1 | €3,576 | €3,836 | +€261 | +7.3% |
| Total equity and liabilities | 10/49 | €434,187 | €361,809 | -€72,379 | -16.7% |
| Equity | 10/15 | €28,180 | €37,368 | +€9,187 | +32.6% |
| Contributions | 10/11 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,895 | €5,222 | +€12,117 | |
| Investment grants | 15 | €17,575 | €14,646 | -€2,929 | -16.7% |
| Amounts payable | 17/49 | €406,007 | €324,441 | -€81,566 | -20.1% |
| Amounts payable after more than one year | 17 | €94,683 | €94,683 | = | 0.0% |
| Other amounts payable | 178/9 | €94,683 | €94,683 | = | 0.0% |
| Amounts payable within one year | 42/48 | €311,324 | €229,758 | -€81,566 | -26.2% |
| Trade debts | 44 | €52,927 | €4,358 | -€48,569 | -91.8% |
| Suppliers | 440/4 | €52,927 | €4,358 | -€48,569 | -91.8% |
| Taxes, remuneration and social security | 45 | €10,175 | €17,924 | +€7,749 | +76.2% |
| Taxes | 450/3 | €224 | €5,312 | +€5,089 | +2273.1% |
| Remuneration and social security | 454/9 | €9,951 | €12,612 | +€2,661 | +26.7% |
| Other amounts payable | 47/48 | €248,223 | €207,476 | -€40,746 | -16.4% |
| Remuneration, social security and pensions | 62 | €48,643 | €85,342 | +€36,699 | +75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,409 | €79,975 | +€14,566 | +22.3% |
| Other operating charges | 640/8 | €640 | €799 | +€160 | +24.9% |
| Gross operating margin | 9900 | €87,145 | €178,016 | +€90,871 | +104.3% |
| Operating profit (loss) | 9901 | -€27,547 | €11,900 | +€39,447 | |
| Financial income | 75/76B | €3,180 | €3,018 | -€162 | -5.1% |
| Recurring financial income | 75 | €3,180 | €3,018 | -€162 | -5.1% |
| Financial charges | 65/66B | €2,233 | €2,801 | +€568 | +25.4% |
| Recurring financial charges | 65 | €2,233 | €2,801 | +€568 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,600 | €12,117 | +€38,717 | |
| Profit (loss) for the period | 9904 | -€26,600 | €12,117 | +€38,717 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,600 | €12,117 | +€38,717 |
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 3 October 2026 via checked.be.