VIC-MAX: 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.
VIC-MAX
Largest movements
- Cash -€5,457
down €5,457 (-42.6%), from €12,825 to €7,367
mainly Net result for the year (-€8,765) and Trade debts (-€114)
- Tangible fixed assets -€2,558
down €2,558 (-8.8%), from €28,958 to €26,400
- Profit (loss) carried forward -€8,765
down €8,765 (-2.6%), from -€332,952 to -€341,718
- Gross operating margin -€6,588
down €6,588, from €4,630 to -€1,958
- Other operating charges +€112
up €112 (+2.8%), from €3,935 to €4,047
- Financial income +€54
up €54 (+85.0%), from €64 to €118
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 | €144,269 | €135,890 | -€8,379 | -5.8% |
| Fixed assets | 21/28 | €28,958 | €26,400 | -€2,558 | -8.8% |
| Tangible fixed assets | 22/27 | €28,958 | €26,400 | -€2,558 | -8.8% |
| Land and buildings | 22 | €28,958 | €26,400 | -€2,558 | -8.8% |
| Current assets | 29/58 | €115,311 | €109,489 | -€5,822 | -5.0% |
| Amounts receivable within one year | 40/41 | €102,486 | €102,122 | -€364 | -0.4% |
| Other amounts receivable | 41 | €102,486 | €102,122 | -€364 | -0.4% |
| Cash at bank and in hand | 54/58 | €12,825 | €7,367 | -€5,457 | -42.6% |
| Total equity and liabilities | 10/49 | €144,269 | €135,890 | -€8,379 | -5.8% |
| Equity | 10/15 | -€252,752 | -€261,518 | -€8,765 | -3.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €18,200 | €18,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€332,952 | -€341,718 | -€8,765 | -2.6% |
| Amounts payable | 17/49 | €397,022 | €397,407 | +€386 | +0.1% |
| Amounts payable within one year | 42/48 | €397,022 | €397,407 | +€386 | +0.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €114 | €0 | -€114 | -100% |
| Suppliers | 440/4 | €114 | €0 | -€114 | -100% |
| Other amounts payable | 47/48 | €396,907 | €397,407 | +€500 | +0.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,558 | €2,558 | = | 0.0% |
| Other operating charges | 640/8 | €3,935 | €4,047 | +€112 | +2.8% |
| Gross operating margin | 9900 | €4,630 | -€1,958 | -€6,588 | |
| Operating profit (loss) | 9901 | -€1,863 | -€8,563 | -€6,699 | -360% |
| Financial income | 75/76B | €64 | €118 | +€54 | +85.0% |
| Recurring financial income | 75 | €64 | €118 | +€54 | +85.0% |
| Financial charges | 65/66B | €327 | €320 | -€7 | -2.0% |
| Recurring financial charges | 65 | €327 | €320 | -€7 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,126 | -€8,765 | -€6,639 | -312% |
| Profit (loss) for the period | 9904 | -€2,126 | -€8,765 | -€6,639 | -312% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,126 | -€8,765 | -€6,639 | -312% |
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.