MAISON VICTOR: 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.
MAISON VICTOR
Largest movements
- Financial fixed assets +€305,622
up €305,622 (+32.5%), from €939,123 to €1.2m
- Tangible fixed assets -€63,810
down €63,810 (-4.4%), from €1.4m to €1.4m
of which Land and buildings: -€57,524
- Cash -€57,496
down €57,496 (-91.5%), from €62,849 to €5,353
mainly Investment in fixed assets (net) (-€314,379) and Net result for the year (-€24,737)
- Contributions +€300,000
up €300,000 (+115%), from €260,400 to €560,400
- Profit (loss) carried forward -€296,403
down €296,403 (-364%), from -€81,347 to -€377,751
- Debts after one year +€169,336
up €169,336 (+8.6%), from €2.0m to €2.1m
- Accrued charges and deferred income +€28,020
new in 2025: €28,020
- Gross operating margin -€243,763
down €243,763 (-75.1%), from €324,424 to €80,661
- Staff costs -€64,681
no longer reported in 2025 (was €64,681)
- Financial charges +€25,642
up €25,642 (+104%), from €24,554 to €50,196
- Financial income +€16,795
up €16,795 (+320%), from €5,246 to €22,041
- Depreciation +€4,577
up €4,577 (+6.5%), from €70,390 to €74,967
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 | €2,492,194 | €2,655,377 | +€163,183 | +6.5% |
| Fixed assets | 21/28 | €2,389,370 | €2,628,781 | +€239,411 | +10.0% |
| Intangible fixed assets | 21 | €11,993 | €9,593 | -€2,400 | -20.0% |
| Tangible fixed assets | 22/27 | €1,438,253 | €1,374,443 | -€63,810 | -4.4% |
| Land and buildings | 22 | €1,420,906 | €1,363,382 | -€57,524 | -4.0% |
| Furniture and vehicles | 24 | €13,946 | €8,397 | -€5,549 | -39.8% |
| Other tangible fixed assets | 26 | €3,401 | €2,663 | -€737 | -21.7% |
| Financial fixed assets | 28 | €939,123 | €1,244,744 | +€305,622 | +32.5% |
| Current assets | 29/58 | €102,824 | €26,596 | -€76,228 | -74.1% |
| Amounts receivable within one year | 40/41 | €36,881 | €18,687 | -€18,194 | -49.3% |
| Trade receivables | 40 | €36,881 | €13,325 | -€23,556 | -63.9% |
| Other amounts receivable | 41 | - | €5,361 | +€5,361 | |
| Cash at bank and in hand | 54/58 | €62,849 | €5,353 | -€57,496 | -91.5% |
| Deferred charges and accrued income | 490/1 | €3,095 | €2,556 | -€539 | -17.4% |
| Total equity and liabilities | 10/49 | €2,492,194 | €2,655,377 | +€163,183 | +6.5% |
| Equity | 10/15 | €179,053 | €182,649 | +€3,597 | +2.0% |
| Contributions | 10/11 | €260,400 | €560,400 | +€300,000 | +115% |
| Profit (loss) carried forward | 14 | -€81,347 | -€377,751 | -€296,403 | -364% |
| Amounts payable | 17/49 | €2,313,141 | €2,472,728 | +€159,586 | +6.9% |
| Amounts payable after more than one year | 17 | €1,974,856 | €2,144,191 | +€169,336 | +8.6% |
| Financial debts | 170/4 | €1,974,856 | €2,144,191 | +€169,336 | +8.6% |
| Amounts payable within one year | 42/48 | €338,286 | €300,516 | -€37,769 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €130,868 | €112,668 | -€18,199 | -13.9% |
| Trade debts | 44 | €18,062 | €33,223 | +€15,161 | +83.9% |
| Suppliers | 440/4 | €18,062 | €33,223 | +€15,161 | +83.9% |
| Taxes, remuneration and social security | 45 | €14,443 | €1,530 | -€12,913 | -89.4% |
| Taxes | 450/3 | €14,443 | €1,530 | -€12,913 | -89.4% |
| Other amounts payable | 47/48 | €174,913 | €153,095 | -€21,818 | -12.5% |
| Accrued charges and deferred income | 492/3 | - | €28,020 | +€28,020 | |
| Remuneration, social security and pensions | 62 | €64,681 | - | -€64,681 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,390 | €74,967 | +€4,577 | +6.5% |
| Other operating charges | 640/8 | €1,362 | €1,946 | +€584 | +42.8% |
| Gross operating margin | 9900 | €324,424 | €80,661 | -€243,763 | -75.1% |
| Operating profit (loss) | 9901 | €187,991 | €3,748 | -€184,243 | -98.0% |
| Financial income | 75/76B | €5,246 | €22,041 | +€16,795 | +320% |
| Recurring financial income | 75 | €5,246 | €22,041 | +€16,795 | +320% |
| Financial charges | 65/66B | €24,554 | €50,196 | +€25,642 | +104% |
| Recurring financial charges | 65 | €24,554 | €50,196 | +€25,642 | +104% |
| Profit (loss) for the period before taxes | 9903 | €168,684 | -€24,406 | -€193,090 | |
| Income taxes | 67/77 | €232 | €330 | +€98 | +42.1% |
| Profit (loss) for the period | 9904 | €168,451 | -€24,737 | -€193,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €168,451 | -€24,737 | -€193,188 |
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 19 October 2026 via checked.be.