VIRDO: 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.
VIRDO
Largest movements
- Stocks and contracts -€52,466
down €52,466 (-10.0%), from €525,979 to €473,513
- Receivables within one year -€37,784
down €37,784 (-5.9%), from €641,944 to €604,160
of which Other amounts receivable: -€38,704
- Cash -€18,268
down €18,268 (-19.3%), from €94,565 to €76,297
mainly Net result for the year (-€145,402) and Investment in fixed assets (net) (-€32,416)
- Profit (loss) carried forward -€145,402
down €145,402 (-90.9%), from €159,929 to €14,527
- Other debts +€67,250
new in 2025: €67,250
- Debts after one year -€19,866
down €19,866 (-32.7%), from €60,700 to €40,833
- Tax, wage and social debts -€15,846
down €15,846 (-11.0%), from €143,525 to €127,679
of which Taxes: -€12,645
- Trade debts -€15,786
down €15,786 (-1.9%), from €832,176 to €816,390
- Staff costs +€63,684
up €63,684 (+8.3%), from €762,841 to €826,525
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 | €1,465,836 | €1,351,598 | -€114,238 | -7.8% |
| Fixed assets | 21/28 | €145,924 | €140,754 | -€5,171 | -3.5% |
| Tangible fixed assets | 22/27 | €145,773 | €140,602 | -€5,171 | -3.5% |
| Plant, machinery and equipment | 23 | €47,843 | €37,074 | -€10,769 | -22.5% |
| Furniture and vehicles | 24 | €4,637 | €24,567 | +€19,930 | +430% |
| Other tangible fixed assets | 26 | €93,293 | €78,961 | -€14,332 | -15.4% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €1,319,912 | €1,210,844 | -€109,068 | -8.3% |
| Stocks and contracts in progress | 3 | €525,979 | €473,513 | -€52,466 | -10.0% |
| Stocks | 30/36 | €525,979 | €473,513 | -€52,466 | -10.0% |
| Amounts receivable within one year | 40/41 | €641,944 | €604,160 | -€37,784 | -5.9% |
| Trade receivables | 40 | €68,300 | €69,221 | +€920 | +1.3% |
| Other amounts receivable | 41 | €573,643 | €534,939 | -€38,704 | -6.7% |
| Cash at bank and in hand | 54/58 | €94,565 | €76,297 | -€18,268 | -19.3% |
| Deferred charges and accrued income | 490/1 | €57,424 | €56,875 | -€549 | -1.0% |
| Total equity and liabilities | 10/49 | €1,465,836 | €1,351,598 | -€114,238 | -7.8% |
| Equity | 10/15 | €361,160 | €215,758 | -€145,402 | -40.3% |
| Contributions | 10/11 | €143,000 | €143,000 | = | 0.0% |
| Reserves | 13 | €58,231 | €58,231 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,855 | €6,855 | = | 0.0% |
| Distributable reserves | 133 | €51,377 | €51,377 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,929 | €14,527 | -€145,402 | -90.9% |
| Amounts payable | 17/49 | €1,104,677 | €1,135,840 | +€31,163 | +2.8% |
| Amounts payable after more than one year | 17 | €60,700 | €40,833 | -€19,866 | -32.7% |
| Financial debts | 170/4 | €60,700 | €40,833 | -€19,866 | -32.7% |
| Amounts payable within one year | 42/48 | €1,043,977 | €1,095,006 | +€51,030 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €28,562 | €31,321 | +€2,759 | +9.7% |
| Financial debts | 43 | €39,714 | €52,366 | +€12,652 | +31.9% |
| Credit institutions | 430/8 | €39,714 | €52,366 | +€12,652 | +31.9% |
| Trade debts | 44 | €832,176 | €816,390 | -€15,786 | -1.9% |
| Suppliers | 440/4 | €832,176 | €816,390 | -€15,786 | -1.9% |
| Taxes, remuneration and social security | 45 | €143,525 | €127,679 | -€15,846 | -11.0% |
| Taxes | 450/3 | €14,034 | €1,389 | -€12,645 | -90.1% |
| Remuneration and social security | 454/9 | €129,491 | €126,290 | -€3,200 | -2.5% |
| Other amounts payable | 47/48 | - | €67,250 | +€67,250 | |
| Remuneration, social security and pensions | 62 | €762,841 | €826,525 | +€63,684 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,653 | €37,586 | +€4,933 | +15.1% |
| Other operating charges | 640/8 | €9,123 | €8,267 | -€856 | -9.4% |
| Gross operating margin | 9900 | €757,047 | €761,354 | +€4,308 | +0.6% |
| Operating profit (loss) | 9901 | -€47,570 | -€111,024 | -€63,453 | -133% |
| Financial income | 75/76B | €2,105 | €25 | -€2,079 | -98.8% |
| Recurring financial income | 75 | €2,105 | €25 | -€2,079 | -98.8% |
| Financial charges | 65/66B | €32,561 | €33,878 | +€1,317 | +4.0% |
| Recurring financial charges | 65 | €32,561 | €33,878 | +€1,317 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€78,027 | -€144,877 | -€66,850 | -85.7% |
| Income taxes | 67/77 | €4,452 | €525 | -€3,927 | -88.2% |
| Profit (loss) for the period | 9904 | -€82,479 | -€145,402 | -€62,923 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,479 | -€145,402 | -€62,923 | -76.3% |
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 26 October 2026 via checked.be.