VIRTUTE: 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.
VIRTUTE
Largest movements
- Tangible fixed assets +€198,733
up €198,733 (+34.1%), from €582,386 to €781,119
of which Land and buildings: +€191,775
- Receivables within one year -€50,961
down €50,961 (-13.4%), from €379,967 to €329,007
of which Other amounts receivable: -€48,600
- Debts after one year +€101,497
up €101,497 (+39.2%), from €259,183 to €360,680
- Reserves +€81,958
up €81,958 (+13.4%), from €612,635 to €694,593
- Other debts -€44,712
down €44,712 (-38.5%), from €116,110 to €71,398
- Other operating charges -€152,711
down €152,711 (-98.9%), from €154,435 to €1,724
- Taxes +€45,866
up €45,866 (+181%), from €25,375 to €71,241
- Depreciation +€13,943
up €13,943 (+57.9%), from €24,081 to €38,024
- Financial charges -€11,838
down €11,838 (-45.3%), from €26,123 to €14,285
of which Financial charges: -€11,838
- Staff costs +€10,616
up €10,616 (+53.4%), from €19,891 to €30,508
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 | €1,043,937 | €1,189,884 | +€145,947 | +14.0% |
| Fixed assets | 21/28 | €582,387 | €781,119 | +€198,732 | +34.1% |
| Tangible fixed assets | 22/27 | €582,386 | €781,119 | +€198,733 | +34.1% |
| Land and buildings | 22 | €536,198 | €727,973 | +€191,775 | +35.8% |
| Plant, machinery and equipment | 23 | €308 | €8,438 | +€8,129 | +2,636% |
| Furniture and vehicles | 24 | €2,880 | €1,708 | -€1,172 | -40.7% |
| Other tangible fixed assets | 26 | €43,000 | €43,000 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €0 | -€1 | -100% |
| Current assets | 29/58 | €461,550 | €408,765 | -€52,785 | -11.4% |
| Amounts receivable after more than one year | 29 | €3,925 | €563 | -€3,362 | -85.7% |
| Other amounts receivable | 291 | €3,925 | €563 | -€3,362 | -85.7% |
| Amounts receivable within one year | 40/41 | €379,967 | €329,007 | -€50,961 | -13.4% |
| Trade receivables | 40 | €324,035 | €321,675 | -€2,360 | -0.7% |
| Other amounts receivable | 41 | €55,932 | €7,332 | -€48,600 | -86.9% |
| Cash at bank and in hand | 54/58 | €75,375 | €77,880 | +€2,504 | +3.3% |
| Deferred charges and accrued income | 490/1 | €2,283 | €1,316 | -€966 | -42.3% |
| Total equity and liabilities | 10/49 | €1,043,937 | €1,189,884 | +€145,947 | +14.0% |
| Equity | 10/15 | €618,835 | €700,793 | +€81,958 | +13.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €612,635 | €694,593 | +€81,958 | +13.4% |
| Distributable reserves | 133 | €612,635 | €694,593 | +€81,958 | +13.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €425,102 | €489,092 | +€63,990 | +15.1% |
| Amounts payable after more than one year | 17 | €259,183 | €360,680 | +€101,497 | +39.2% |
| Financial debts | 170/4 | €259,183 | €360,680 | +€101,497 | +39.2% |
| Amounts payable within one year | 42/48 | €163,350 | €124,563 | -€38,787 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €26,237 | €26,667 | +€431 | +1.6% |
| Trade debts | 44 | €3,545 | €185 | -€3,361 | -94.8% |
| Suppliers | 440/4 | €3,545 | €185 | -€3,361 | -94.8% |
| Advances received on contracts in progress | 46 | €490 | €508 | +€18 | +3.7% |
| Taxes, remuneration and social security | 45 | €16,968 | €25,805 | +€8,837 | +52.1% |
| Taxes | 450/3 | €14,011 | €21,306 | +€7,294 | +52.1% |
| Remuneration and social security | 454/9 | €2,956 | €4,499 | +€1,543 | +52.2% |
| Other amounts payable | 47/48 | €116,110 | €71,398 | -€44,712 | -38.5% |
| Accrued charges and deferred income | 492/3 | €2,569 | €3,849 | +€1,280 | +49.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €19,891 | €30,508 | +€10,616 | +53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,081 | €38,024 | +€13,943 | +57.9% |
| Other operating charges | 640/8 | €154,435 | €1,724 | -€152,711 | -98.9% |
| Gross operating margin | 9900 | €311,699 | €312,845 | +€1,145 | +0.4% |
| Operating profit (loss) | 9901 | €113,292 | €242,589 | +€129,297 | +114% |
| Financial income | 75/76B | €1,304 | €50 | -€1,254 | -96.2% |
| Recurring financial income | 75 | €1,304 | €50 | -€1,254 | -96.2% |
| Financial charges | 65/66B | €26,123 | €14,285 | -€11,838 | -45.3% |
| Recurring financial charges | 65 | €26,123 | €14,284 | -€11,838 | -45.3% |
| Non-recurring financial charges | 66B | €1 | €1 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €88,473 | €228,354 | +€139,881 | +158% |
| Income taxes | 67/77 | €25,375 | €71,241 | +€45,866 | +181% |
| Profit (loss) for the period | 9904 | €63,098 | €157,113 | +€94,015 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €63,098 | €157,113 | +€94,015 | +149% |
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 13 October 2026 via checked.be.