VICTEX: what changed
Two fiscal 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.
VICTEX
Largest movements
- Receivables within one year +€87,437
up €87,437 (+68.6%), from €127,438 to €214,876
of which Other amounts receivable: +€86,979
- Other debts +€85,746
up €85,746 (+287.5%), from €29,821 to €115,567
- Reserves +€33,785
up €33,785 (+70.4%), from €48,015 to €81,800
- Trade debts -€15,675
down €15,675 (-73.3%), from €21,383 to €5,708
- Tax, wage and social debts -€14,744
down €14,744 (-58.0%), from €25,410 to €10,665
of which Taxes: -€14,744
- Staff costs -€64,922
down €64,922 (-98.8%), from €65,690 to €768
- Gross operating margin -€58,931
down €58,931 (-58.0%), from €101,521 to €42,590
- Taxes -€1,064
down €1,064 (-11.8%), from €8,985 to €7,922
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.
Cash bridge derived
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 | €130,628 | €219,740 | +€89,112 | +68.2% |
| Fixed assets | 21/28 | €1,627 | €1,064 | -€563 | -34.6% |
| Tangible fixed assets | 22/27 | €1,627 | €1,064 | -€563 | -34.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,627 | €1,064 | -€563 | -34.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €129,001 | €218,677 | +€89,675 | +69.5% |
| Amounts receivable within one year | 40/41 | €127,438 | €214,876 | +€87,437 | +68.6% |
| Trade receivables | 40 | €127,438 | €127,897 | +€458 | +0.4% |
| Other amounts receivable | 41 | €0 | €86,979 | +€86,979 | |
| Cash at bank and in hand | 54/58 | €1,539 | €3,173 | +€1,634 | +106.2% |
| Deferred charges and accrued income | 490/1 | €24 | €628 | +€604 | +2527.0% |
| Total equity and liabilities | 10/49 | €130,628 | €219,740 | +€89,112 | +68.2% |
| Equity | 10/15 | €54,015 | €87,800 | +€33,785 | +62.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €48,015 | €81,800 | +€33,785 | +70.4% |
| Distributable reserves | 133 | €48,015 | €81,800 | +€33,785 | +70.4% |
| Amounts payable | 17/49 | €76,613 | €131,940 | +€55,327 | +72.2% |
| Amounts payable within one year | 42/48 | €76,613 | €131,940 | +€55,327 | +72.2% |
| Trade debts | 44 | €21,383 | €5,708 | -€15,675 | -73.3% |
| Suppliers | 440/4 | €21,383 | €5,708 | -€15,675 | -73.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €25,410 | €10,665 | -€14,744 | -58.0% |
| Taxes | 450/3 | €25,410 | €10,665 | -€14,744 | -58.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €29,821 | €115,567 | +€85,746 | +287.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €65,690 | €768 | -€64,922 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63 | €563 | +€500 | +794.0% |
| Other operating charges | 640/8 | €622 | €186 | -€436 | -70.1% |
| Non-recurring operating charges | 66A | €1,321 | €0 | -€1,321 | -100.0% |
| Gross operating margin | 9900 | €101,521 | €42,590 | -€58,931 | -58.0% |
| Operating profit (loss) | 9901 | €33,825 | €41,072 | +€7,247 | +21.4% |
| Financial income | 75/76B | €93 | €764 | +€671 | +721.3% |
| Recurring financial income | 75 | €93 | €764 | +€671 | +721.3% |
| Financial charges | 65/66B | €603 | €130 | -€473 | -78.5% |
| Recurring financial charges | 65 | €603 | €130 | -€473 | -78.5% |
| Profit (loss) for the period before taxes | 9903 | €33,315 | €41,707 | +€8,392 | +25.2% |
| Income taxes | 67/77 | €8,985 | €7,922 | -€1,064 | -11.8% |
| Profit (loss) for the period | 9904 | €24,329 | €33,785 | +€9,456 | +38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,329 | €33,785 | +€9,456 | +38.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.