VICI
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00422186.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 41 filings
Amounts without an identifiable currency are taken as euros.
Equity
€23,998▼ 2.7%
2024 · €24,659
Total assets
€24,064▼ 2.4%
2024 · €24,659
Net result
-€660▼ 18.4%
2024 · -€558
Working capital
€23,998▼ 2.7%
2024 · €24,659
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€660
▼ 13.8%
2025
20182025
Net result
-€660
▼ 18.4%
2025
lowest quarter of the sector
20182025
Equity
€23,998
▼ 2.7%
2025
lowest quarter of the sector
20182025
Total assets
€24,064
▼ 2.4%
2025
lowest quarter of the sector
20182025
Debt
€66
2025
20182025
Working capital
€23,998
▼ 2.7%
2025
middle half of the sector
20182025
Solvency
99.7%
▼ 0.3pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-2.7%
▼ 0.5pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€444--€11,256▼ 2,438%-€5,128▲ 54.4%-€968▲ 81.1%-€582▲ 39.9%-€807▼ 38.8%-€580▲ 28.1%-€660▼ 13.8%
Net result-€60,822--€11,273▲ 81.5%-€5,284below the sector's middle half▲ 53.1%-€991below the sector's middle half▲ 81.2%-€606below the sector's middle half▲ 38.9%-€930below the sector's middle half▼ 53.5%-€558below the sector's middle half▲ 40.0%-€660below the sector's middle half▼ 18.4%
Equity€44,299-€33,027▼ 25.4%€27,743below the sector's middle half▼ 16.0%€26,751below the sector's middle half▼ 3.6%€26,146below the sector's middle half▼ 2.3%€25,216below the sector's middle half▼ 3.6%€24,659below the sector's middle half▼ 2.2%€23,998below the sector's middle half▼ 2.7%
Total assets€44,299-€34,343▼ 22.5%€27,878below the sector's middle half▼ 18.8%€26,852below the sector's middle half▼ 3.7%€26,146below the sector's middle half▼ 2.6%€25,640below the sector's middle half▼ 1.9%€24,659below the sector's middle half▼ 3.8%€24,064below the sector's middle half▼ 2.4%
Debt€1,316€135▼ 89.7%€101▼ 25.2%€0▼ 100%€424€0▼ 100%€66
Working capital€33,027€27,743within the sector's middle half▼ 16.0%€26,751within the sector's middle half▼ 3.6%€26,146within the sector's middle half▼ 2.3%€25,216within the sector's middle half▼ 3.6%€24,659within the sector's middle half▼ 2.2%€23,998within the sector's middle half▼ 2.7%
Solvency100.0%-96.2%▼ 3.8pp99.5%above the sector's middle half▲ 3.3pp99.6%above the sector's middle half▲ 0.1pp100.0%above the sector's middle half▲ 0.4pp98.3%above the sector's middle half▼ 1.7pp100.0%above the sector's middle half▲ 1.7pp99.7%above the sector's middle half▼ 0.3pp
Current ratio26.0960.53above the sector's middle half
Return on assets (ROA)-137.3%--32.8%▲ 104.5pp-19.0%below the sector's middle half▲ 13.9pp-3.7%below the sector's middle half▲ 15.3pp-2.3%below the sector's middle half▲ 1.4pp-3.6%below the sector's middle half▼ 1.3pp-2.3%below the sector's middle half▲ 1.4pp-2.7%below the sector's middle half▼ 0.5pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €660, larger than the loss of €580 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
Equity and liabilities €24,064
Equity
€23,998
Debt
€66
Debt's share of the balance-sheet total is 0.3%.
Key figures and ratios
Debt to equity
0.00▲
2024 · 0.00
ROE
-2.8%▼
2024 · -2.3%
Debt ≤ 1 year
€66▲
2024 · €0
A ratio outside any meaningful range has been withheld (balance sheet total €24,064, equity €23,998).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €599 | €525 | €568 | €580 | €595 | ▲ 2.5% |
| Gross operating margin9900 | €0 | -€3,029 | -€4,605 | -€370 | -€57 | -€239 | €0 | -€66 | - |
| Operating profit (loss)9901 | -€444 | -€11,256 | -€5,128 | -€968 | -€582 | -€807 | -€580 | -€660 | ▼ 13.8% |
| Financial income75/76B | - | - | - | - | - | - | €24 | €0 | ▼ 100% |
| Recurring financial income75 | €1,068 | €0 | - | - | - | - | €24 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €23 | €24 | €122 | €1 | €0 | ▼ 100% |
| Recurring financial charges65 | €61,447 | €17 | €21 | €23 | €24 | €122 | €1 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | -€60,822 | -€11,273 | -€5,149 | -€991 | -€606 | -€930 | -€558 | -€660 | ▼ 18.4% |
| Income taxes67/77 | €0 | - | €135 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€60,822 | -€11,273 | -€5,284 | -€991 | -€606 | -€930 | -€558 | -€660 | ▼ 18.4% |
| Profit (loss) for the period to be appropriated9905 | -€60,822 | -€11,273 | -€5,284 | -€991 | -€606 | -€930 | -€558 | -€660 | ▼ 18.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €44,299 | €34,343 | €27,878 | €26,852 | €26,146 | €25,640 | €24,659 | €24,064 | ▼ 2.4% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €44,299 | €34,343 | €27,878 | €26,852 | €26,146 | €25,640 | €24,659 | €24,064 | ▼ 2.4% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | - | - | - | - | €5,000 | €5,000 | €998 | ▼ 80.0% |
| Other amounts receivable41 | - | - | - | - | - | €5,000 | €5,000 | €998 | ▼ 80.0% |
| Current investments50/53 | €7,657 | €0 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €36,643 | €34,343 | €27,878 | €26,852 | €26,146 | €20,640 | €19,659 | €23,065 | ▲ 17.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €44,299 | €34,343 | €27,878 | €26,852 | €26,146 | €25,640 | €24,659 | €24,064 | ▼ 2.4% |
| Equity10/15 | €44,299 | €33,027 | €27,743 | €26,751 | €26,146 | €25,216 | €24,659 | €23,998 | ▼ 2.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €85,627 | €85,627 | €85,627 | €85,627 | €85,627 | €85,627 | €85,627 | €85,627 | = |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | - | €62,674 | €62,674 | €62,674 | €62,674 | €62,674 | = |
| Distributable reserves133 | - | - | - | €16,753 | €16,753 | €16,753 | €16,753 | €16,753 | = |
| Profit (loss) carried forward14 | -€103,327 | -€114,600 | -€119,884 | -€120,876 | -€121,481 | -€122,411 | -€122,968 | -€123,629 | ▼ 0.5% |
| Amounts payable17/49 | - | €1,316 | €135 | €101 | €0 | €424 | €0 | €66 | - |
| Amounts payable within one year42/48 | - | €1,316 | €135 | €101 | €0 | €424 | €0 | €66 | - |
| Financial debts43 | - | - | - | - | - | €424 | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €424 | €0 | - | - |
| Trade debts44 | - | €1,316 | €0 | - | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | - | - | - | - |
| Taxes450/3 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €101 | €0 | - | - | €66 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€60,822 | -€11,273 | -€5,284 | -€991 | -€606 | -€930 | -€558 | -€660 | ▼ 18.4% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€60,822 | -€11,273 | -€5,284 | -€991 | -€606 | -€930 | -€558 | -€660 | ▼ 18.4% |
| Change in cash | - | -€2,300 | -€6,465 | -€1,025 | -€707 | -€5,506 | -€981 | €3,407 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as VICI has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VICI itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for VICI. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 41 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-08-2026 | 2026-00422186 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00411253 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00440337 | |
| 31-12-2022 | micro format | 21-06-2023 | 2023-00143002 | |
| 31-12-2021 | micro format | 18-08-2022 | 2022-20294133 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-53000216 | |
| 31-12-2019 | abbreviated format | 09-09-2020 | 2020-51900302 | |
| 31-12-2018 | abbreviated format | 25-11-2019 | 2019-74300138 | |
| 31-12-2017 | abbreviated format | 25-06-2019 | 2019-25500424 | |
| 31-12-2016 | abbreviated format | 18-07-2017 | 2017-32800239 |