VICTHO: 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.
VICTHO
Largest movements
- Cash +€20,951
up €20,951 (+1516.0%), from €1,382 to €22,333
mainly Net result for the year (+€19,115) and Depreciation (+€12,661)
- Tangible fixed assets -€12,661
down €12,661 (-16.2%), from €78,201 to €65,540
of which Plant, machinery and equipment: -€10,592
- Receivables within one year -€7,956
down €7,956 (-95.7%), from €8,316 to €360
of which Trade receivables: -€8,316
- Other debts -€20,069
down €20,069 (-97.0%), from €20,700 to €630
- Profit (loss) carried forward +€19,115
up €19,115 (+60.8%), from €31,465 to €50,580
- Current portion of long-term debt +€1,750
new in 2025: €1,750
- Tax, wage and social debts -€885
down €885 (-14.9%), from €5,920 to €5,035
- Gross operating margin +€21,117
up €21,117 (+112.9%), from €18,710 to €39,826
- Taxes +€3,803
up €3,803 (+134.1%), from €2,837 to €6,640
- Other operating charges +€524
up €524 (+270.7%), from €194 to €717
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 | €87,899 | €88,233 | +€334 | +0.4% |
| Fixed assets | 21/28 | €78,201 | €65,540 | -€12,661 | -16.2% |
| Tangible fixed assets | 22/27 | €78,201 | €65,540 | -€12,661 | -16.2% |
| Plant, machinery and equipment | 23 | €67,857 | €57,265 | -€10,592 | -15.6% |
| Furniture and vehicles | 24 | €10,344 | €8,275 | -€2,069 | -20.0% |
| Current assets | 29/58 | €9,698 | €22,693 | +€12,995 | +134.0% |
| Amounts receivable within one year | 40/41 | €8,316 | €360 | -€7,956 | -95.7% |
| Trade receivables | 40 | €8,316 | - | -€8,316 | |
| Other amounts receivable | 41 | - | €360 | +€360 | |
| Cash at bank and in hand | 54/58 | €1,382 | €22,333 | +€20,951 | +1516.0% |
| Total equity and liabilities | 10/49 | €87,899 | €88,233 | +€334 | +0.4% |
| Equity | 10/15 | €58,965 | €78,080 | +€19,115 | +32.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Other | 1109/19 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,465 | €50,580 | +€19,115 | +60.8% |
| Amounts payable | 17/49 | €28,934 | €10,153 | -€18,781 | -64.9% |
| Amounts payable within one year | 42/48 | €28,934 | €10,153 | -€18,781 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | - | €1,750 | +€1,750 | |
| Trade debts | 44 | €2,315 | €2,737 | +€423 | +18.3% |
| Suppliers | 440/4 | €2,315 | €2,737 | +€423 | +18.3% |
| Taxes, remuneration and social security | 45 | €5,920 | €5,035 | -€885 | -14.9% |
| Taxes | 450/3 | €5,920 | €5,035 | -€885 | -14.9% |
| Other amounts payable | 47/48 | €20,700 | €630 | -€20,069 | -97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,661 | €12,661 | = | 0.0% |
| Other operating charges | 640/8 | €194 | €717 | +€524 | +270.7% |
| Gross operating margin | 9900 | €18,710 | €39,826 | +€21,117 | +112.9% |
| Operating profit (loss) | 9901 | €5,855 | €26,448 | +€20,593 | +351.7% |
| Financial charges | 65/66B | €905 | €692 | -€213 | -23.5% |
| Recurring financial charges | 65 | €905 | €692 | -€213 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €4,950 | €25,756 | +€20,806 | +420.3% |
| Income taxes | 67/77 | €2,837 | €6,640 | +€3,803 | +134.1% |
| Profit (loss) for the period | 9904 | €2,113 | €19,115 | +€17,002 | +804.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,113 | €19,115 | +€17,002 | +804.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.