VICTOCAS: 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.
VICTOCAS
Largest movements
- Tangible fixed assets +€517,756
up €517,756 (+202.8%), from €255,310 to €773,066
of which Leasing and similar rights: +€562,720
- Cash +€303,028
up €303,028 (+114.6%), from €264,399 to €567,428
mainly Debts after one year (+€557,765) and Trade debts (+€152,637)
- Financial fixed assets +€100,000
up €100,000 (+37037.0%), from €270 to €100,270
- Debts after one year +€557,765
new in 2025: €557,765
- Trade debts +€152,637
up €152,637 (+285.4%), from €53,476 to €206,112
- Reserves +€115,128
up €115,128 (+46.3%), from €248,481 to €363,609
- Tax, wage and social debts +€78,784
up €78,784 (+185.7%), from €42,419 to €121,203
of which Taxes: +€65,329
- Other debts -€22,870
down €22,870 (-11.6%), from €197,114 to €174,244
- Gross operating margin +€46,542
up €46,542 (+12.1%), from €384,478 to €431,021
- Staff costs +€34,469
up €34,469 (+22.1%), from €156,229 to €190,698
- Depreciation +€8,259
up €8,259 (+11.2%), from €73,912 to €82,171
- Financial charges +€7,634
up €7,634 (+553.6%), from €1,379 to €9,013
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 | €553,121 | €1,457,309 | +€904,189 | +163.5% |
| Formation expenses | 20 | €499 | €250 | -€250 | -50.0% |
| Fixed assets | 21/28 | €257,380 | €874,236 | +€616,856 | +239.7% |
| Intangible fixed assets | 21 | €1,800 | €900 | -€900 | -50.0% |
| Tangible fixed assets | 22/27 | €255,310 | €773,066 | +€517,756 | +202.8% |
| Land and buildings | 22 | €91,081 | €83,146 | -€7,934 | -8.7% |
| Plant, machinery and equipment | 23 | €105,472 | €97,355 | -€8,117 | -7.7% |
| Furniture and vehicles | 24 | €58,757 | €29,845 | -€28,913 | -49.2% |
| Leasing and similar rights | 25 | - | €562,720 | +€562,720 | |
| Financial fixed assets | 28 | €270 | €100,270 | +€100,000 | +37037.0% |
| Current assets | 29/58 | €295,241 | €582,823 | +€287,583 | +97.4% |
| Amounts receivable within one year | 40/41 | €24,491 | €13,179 | -€11,312 | -46.2% |
| Trade receivables | 40 | €20,275 | €11,229 | -€9,046 | -44.6% |
| Other amounts receivable | 41 | €4,216 | €1,950 | -€2,266 | -53.8% |
| Cash at bank and in hand | 54/58 | €264,399 | €567,428 | +€303,028 | +114.6% |
| Deferred charges and accrued income | 490/1 | €6,351 | €2,217 | -€4,134 | -65.1% |
| Total equity and liabilities | 10/49 | €553,121 | €1,457,309 | +€904,189 | +163.5% |
| Equity | 10/15 | €258,845 | €373,609 | +€114,764 | +44.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €248,481 | €363,609 | +€115,128 | +46.3% |
| Distributable reserves | 133 | €248,481 | €363,609 | +€115,128 | +46.3% |
| Profit (loss) carried forward | 14 | €364 | €0 | -€364 | -100.0% |
| Amounts payable | 17/49 | €294,275 | €1,083,700 | +€789,424 | +268.3% |
| Amounts payable after more than one year | 17 | - | €557,765 | +€557,765 | |
| Financial debts | 170/4 | - | €557,765 | +€557,765 | |
| Amounts payable within one year | 42/48 | €293,008 | €515,919 | +€222,910 | +76.1% |
| Current portion of amounts payable after more than one year | 42 | - | €14,360 | +€14,360 | |
| Trade debts | 44 | €53,476 | €206,112 | +€152,637 | +285.4% |
| Suppliers | 440/4 | €53,476 | €206,112 | +€152,637 | +285.4% |
| Taxes, remuneration and social security | 45 | €42,419 | €121,203 | +€78,784 | +185.7% |
| Taxes | 450/3 | €14,017 | €79,346 | +€65,329 | +466.1% |
| Remuneration and social security | 454/9 | €28,402 | €41,857 | +€13,455 | +47.4% |
| Other amounts payable | 47/48 | €197,114 | €174,244 | -€22,870 | -11.6% |
| Accrued charges and deferred income | 492/3 | €1,267 | €10,016 | +€8,749 | +690.5% |
| Non-recurring operating income | 76A | €11,080 | €0 | -€11,080 | -100.0% |
| Remuneration, social security and pensions | 62 | €156,229 | €190,698 | +€34,469 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,912 | €82,171 | +€8,259 | +11.2% |
| Other operating charges | 640/8 | €2,044 | €1,417 | -€627 | -30.7% |
| Gross operating margin | 9900 | €384,478 | €431,021 | +€46,542 | +12.1% |
| Operating profit (loss) | 9901 | €152,293 | €156,734 | +€4,441 | +2.9% |
| Financial income | 75/76B | €334 | €15 | -€319 | -95.5% |
| Recurring financial income | 75 | €334 | €15 | -€319 | -95.5% |
| Financial charges | 65/66B | €1,379 | €9,013 | +€7,634 | +553.6% |
| Recurring financial charges | 65 | €1,379 | €9,013 | +€7,634 | +553.6% |
| Profit (loss) for the period before taxes | 9903 | €151,248 | €147,737 | -€3,512 | -2.3% |
| Income taxes | 67/77 | €32,267 | €32,973 | +€705 | +2.2% |
| Profit (loss) for the period | 9904 | €118,981 | €114,764 | -€4,217 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €118,981 | €114,764 | -€4,217 | -3.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.