GROUPE VICTOAR: 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.
GROUPE VICTOAR
Largest movements
- Current investments +€70,153
new in 2025: €70,153
- Cash +€49,970
up €49,970 (+492%), from €10,153 to €60,123
mainly Debts after one year (+€108,824) and Depreciation (+€20,137)
- Tangible fixed assets +€14,501
up €14,501 (+9.1%), from €158,847 to €173,348
of which Land and buildings: +€13,922
- Debts after one year +€108,824
new in 2025: €108,824
- Current portion of long-term debt +€16,175
new in 2025: €16,175
- Profit (loss) carried forward +€10,120
up €10,120 (+20.5%), from €49,261 to €59,381
- Other debts -€7,000
down €7,000 (-6.7%), from €105,000 to €98,000
- Gross operating margin +€14,712
up €14,712 (+56.6%), from €25,980 to €40,692
- Depreciation +€8,083
up €8,083 (+67.1%), from €12,054 to €20,137
- Write-downs -€1,765
no longer reported in 2025 (was €1,765)
- Financial charges +€1,545
up €1,545 (+696%), from €222 to €1,767
- Taxes +€1,306
up €1,306 (+59.9%), from €2,180 to €3,486
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 | €189,089 | €319,462 | +€130,373 | +68.9% |
| Formation expenses | 20 | €395 | - | -€395 | |
| Fixed assets | 21/28 | €158,847 | €173,348 | +€14,501 | +9.1% |
| Tangible fixed assets | 22/27 | €158,847 | €173,348 | +€14,501 | +9.1% |
| Land and buildings | 22 | €140,083 | €154,005 | +€13,922 | +9.9% |
| Furniture and vehicles | 24 | €18,764 | €19,343 | +€579 | +3.1% |
| Current assets | 29/58 | €29,847 | €146,114 | +€116,267 | +390% |
| Amounts receivable within one year | 40/41 | €17,031 | €14,480 | -€2,551 | -15.0% |
| Trade receivables | 40 | €16,031 | €12,780 | -€3,251 | -20.3% |
| Other amounts receivable | 41 | €1,000 | €1,700 | +€700 | +70.0% |
| Current investments | 50/53 | - | €70,153 | +€70,153 | |
| Cash at bank and in hand | 54/58 | €10,153 | €60,123 | +€49,970 | +492% |
| Deferred charges and accrued income | 490/1 | €2,663 | €1,358 | -€1,305 | -49.0% |
| Total equity and liabilities | 10/49 | €189,089 | €319,462 | +€130,373 | +68.9% |
| Equity | 10/15 | €76,007 | €86,127 | +€10,120 | +13.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €6,746 | €6,746 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,746 | €4,746 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,261 | €59,381 | +€10,120 | +20.5% |
| Amounts payable | 17/49 | €113,082 | €233,335 | +€120,253 | +106% |
| Amounts payable after more than one year | 17 | - | €108,824 | +€108,824 | |
| Financial debts | 170/4 | - | €108,824 | +€108,824 | |
| Amounts payable within one year | 42/48 | €113,082 | €124,511 | +€11,429 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | - | €16,175 | +€16,175 | |
| Trade debts | 44 | €2,863 | €4,082 | +€1,219 | +42.6% |
| Suppliers | 440/4 | €2,863 | €4,082 | +€1,219 | +42.6% |
| Taxes, remuneration and social security | 45 | €5,219 | €6,254 | +€1,035 | +19.8% |
| Taxes | 450/3 | €5,219 | €6,254 | +€1,035 | +19.8% |
| Other amounts payable | 47/48 | €105,000 | €98,000 | -€7,000 | -6.7% |
| Remuneration, social security and pensions | 62 | €3,447 | €3,984 | +€537 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,054 | €20,137 | +€8,083 | +67.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,765 | - | -€1,765 | |
| Other operating charges | 640/8 | €919 | €1,570 | +€651 | +70.8% |
| Gross operating margin | 9900 | €25,980 | €40,692 | +€14,712 | +56.6% |
| Operating profit (loss) | 9901 | €7,795 | €15,001 | +€7,206 | +92.4% |
| Financial income | 75/76B | €1,457 | €372 | -€1,085 | -74.5% |
| Recurring financial income | 75 | €1,457 | €372 | -€1,085 | -74.5% |
| Financial charges | 65/66B | €222 | €1,767 | +€1,545 | +696% |
| Recurring financial charges | 65 | €222 | €1,767 | +€1,545 | +696% |
| Profit (loss) for the period before taxes | 9903 | €9,030 | €13,606 | +€4,576 | +50.7% |
| Income taxes | 67/77 | €2,180 | €3,486 | +€1,306 | +59.9% |
| Profit (loss) for the period | 9904 | €6,850 | €10,120 | +€3,270 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,850 | €10,120 | +€3,270 | +47.7% |
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 1 November 2026 via checked.be.