VICTO: 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.
VICTO
Largest movements
- Tangible fixed assets +€490,389
up €490,389 (+411.8%), from €119,074 to €609,463
of which Land and buildings: +€493,554
- Cash -€294,966
down €294,966 (-96.3%), from €306,284 to €11,318
mainly Investment in fixed assets (net) (-€503,676) and Net result for the year (-€16,967)
- Debts after one year +€198,682
up €198,682 (+3483.9%), from €5,703 to €204,385
- Profit (loss) carried forward -€15,559
down €15,559 (-33.0%), from €47,140 to €31,582
- Current portion of long-term debt +€12,038
up €12,038 (+210.2%), from €5,728 to €17,766
- Gross operating margin -€21,171
down €21,171 (-72.9%), from €29,033 to €7,862
- Financial income -€9,392
no longer reported in 2025 (was €9,392)
- Taxes -€8,956
down €8,956 (-91.3%), from €9,809 to €853
- Financial charges +€8,085
up €8,085 (+1388.3%), from €582 to €8,667
- Depreciation +€352
up €352 (+2.7%), from €12,936 to €13,287
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 | €426,452 | €627,107 | +€200,654 | +47.1% |
| Fixed assets | 21/28 | €119,074 | €609,463 | +€490,389 | +411.8% |
| Tangible fixed assets | 22/27 | €119,074 | €609,463 | +€490,389 | +411.8% |
| Land and buildings | 22 | €93,523 | €587,077 | +€493,554 | +527.7% |
| Plant, machinery and equipment | 23 | €24,408 | €21,647 | -€2,761 | -11.3% |
| Furniture and vehicles | 24 | €1,143 | €738 | -€405 | -35.4% |
| Current assets | 29/58 | €307,378 | €17,644 | -€289,734 | -94.3% |
| Amounts receivable within one year | 40/41 | - | €5,147 | +€5,147 | |
| Other amounts receivable | 41 | - | €5,147 | +€5,147 | |
| Cash at bank and in hand | 54/58 | €306,284 | €11,318 | -€294,966 | -96.3% |
| Deferred charges and accrued income | 490/1 | €1,094 | €1,179 | +€85 | +7.8% |
| Total equity and liabilities | 10/49 | €426,452 | €627,107 | +€200,654 | +47.1% |
| Equity | 10/15 | €384,937 | €367,970 | -€16,967 | -4.4% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €251,033 | €249,626 | -€1,408 | -0.6% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,727 | €25,319 | -€1,408 | -5.3% |
| Distributable reserves | 133 | €215,630 | €215,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,140 | €31,582 | -€15,559 | -33.0% |
| Provisions and deferred taxes | 16 | €13,762 | €13,037 | -€725 | -5.3% |
| Deferred taxes | 168 | €13,762 | €13,037 | -€725 | -5.3% |
| Amounts payable | 17/49 | €27,754 | €246,099 | +€218,346 | +786.7% |
| Amounts payable after more than one year | 17 | €5,703 | €204,385 | +€198,682 | +3483.9% |
| Financial debts | 170/4 | €5,703 | €204,385 | +€198,682 | +3483.9% |
| Amounts payable within one year | 42/48 | €22,051 | €41,714 | +€19,664 | +89.2% |
| Current portion of amounts payable after more than one year | 42 | €5,728 | €17,766 | +€12,038 | +210.2% |
| Trade debts | 44 | €2,198 | €8,298 | +€6,100 | +277.6% |
| Suppliers | 440/4 | €2,198 | €8,298 | +€6,100 | +277.6% |
| Taxes, remuneration and social security | 45 | €5,215 | €1,539 | -€3,676 | -70.5% |
| Taxes | 450/3 | €5,215 | €1,539 | -€3,676 | -70.5% |
| Other amounts payable | 47/48 | €8,910 | €14,111 | +€5,201 | +58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,936 | €13,287 | +€352 | +2.7% |
| Other operating charges | 640/8 | €2,663 | €2,746 | +€84 | +3.1% |
| Gross operating margin | 9900 | €29,033 | €7,862 | -€21,171 | -72.9% |
| Operating profit (loss) | 9901 | €13,435 | -€8,172 | -€21,606 | |
| Financial income | 75/76B | €9,392 | - | -€9,392 | |
| Recurring financial income | 75 | €9,392 | - | -€9,392 | |
| Financial charges | 65/66B | €582 | €8,667 | +€8,085 | +1388.3% |
| Recurring financial charges | 65 | €582 | €8,667 | +€8,085 | +1388.3% |
| Profit (loss) for the period before taxes | 9903 | €22,244 | -€16,838 | -€39,083 | |
| Transfer from deferred taxes | 780 | €725 | €725 | = | 0.0% |
| Income taxes | 67/77 | €9,809 | €853 | -€8,956 | -91.3% |
| Profit (loss) for the period | 9904 | €13,160 | -€16,967 | -€30,127 | |
| Transfer from tax-exempt reserves | 789 | €1,408 | €1,408 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,568 | -€15,559 | -€30,127 |
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 5 October 2026 via checked.be.