VICTOIRE DIFFUSION: 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.
VICTOIRE DIFFUSION
Largest movements
- Receivables within one year -€61,111
down €61,111 (-46.9%), from €130,239 to €69,128
of which Other amounts receivable: -€32,049
- Cash +€41,543
up €41,543 (+51.5%), from €80,699 to €122,242
- Tangible fixed assets +€13,233
up €13,233 (+31.9%), from €41,490 to €54,723
of which Other tangible fixed assets: +€28,295
- Tax, wage and social debts -€19,825
down €19,825 (-33.5%), from €59,214 to €39,388
of which Remuneration and social security: -€12,649
- Reserves +€10,977
up €10,977 (+21.9%), from €50,077 to €61,053
of which Distributable reserves: +€10,977
- Accrued charges and deferred income +€5,000
up €5,000 (+100.0%), from €5,000 to €10,000
- Staff costs +€13,940
up €13,940 (+7.5%), from €187,109 to €201,049
- Depreciation +€8,219
up €8,219 (+98.0%), from €8,389 to €16,608
- Taxes -€4,966
down €4,966 (-92.6%), from €5,364 to €398
- Gross operating margin -€4,490
down €4,490 (-2.1%), from €213,957 to €209,468
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €258,896 | €254,043 | -€4,852 | -1.9% |
| Fixed assets | 21/28 | €41,811 | €55,045 | +€13,233 | +31.6% |
| Tangible fixed assets | 22/27 | €41,490 | €54,723 | +€13,233 | +31.9% |
| Furniture and vehicles | 24 | €34,166 | €19,105 | -€15,062 | -44.1% |
| Other tangible fixed assets | 26 | €7,323 | €35,618 | +€28,295 | +386.4% |
| Financial fixed assets | 28 | €322 | €322 | = | 0.0% |
| Current assets | 29/58 | €217,084 | €198,999 | -€18,086 | -8.3% |
| Amounts receivable within one year | 40/41 | €130,239 | €69,128 | -€61,111 | -46.9% |
| Trade receivables | 40 | €80,669 | €51,607 | -€29,062 | -36.0% |
| Other amounts receivable | 41 | €49,570 | €17,521 | -€32,049 | -64.7% |
| Cash at bank and in hand | 54/58 | €80,699 | €122,242 | +€41,543 | +51.5% |
| Deferred charges and accrued income | 490/1 | €6,147 | €7,629 | +€1,482 | +24.1% |
| Total equity and liabilities | 10/49 | €258,896 | €254,043 | -€4,852 | -1.9% |
| Equity | 10/15 | €100,077 | €111,053 | +€10,977 | +11.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €50,077 | €61,053 | +€10,977 | +21.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €50,077 | €61,053 | +€10,977 | +21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,819 | €142,990 | -€15,829 | -10.0% |
| Amounts payable within one year | 42/48 | €153,819 | €132,990 | -€20,829 | -13.5% |
| Trade debts | 44 | €94,496 | €93,492 | -€1,004 | -1.1% |
| Suppliers | 440/4 | €94,496 | €93,492 | -€1,004 | -1.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €59,214 | €39,388 | -€19,825 | -33.5% |
| Taxes | 450/3 | €23,437 | €16,261 | -€7,176 | -30.6% |
| Remuneration and social security | 454/9 | €35,776 | €23,127 | -€12,649 | -35.4% |
| Other amounts payable | 47/48 | €110 | €110 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,000 | €10,000 | +€5,000 | +100.0% |
| Non-recurring operating income | 76A | €418 | €1,591 | +€1,173 | +280.8% |
| Remuneration, social security and pensions | 62 | €187,109 | €201,049 | +€13,940 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,389 | €16,608 | +€8,219 | +98.0% |
| Other operating charges | 640/8 | €1,345 | €922 | -€423 | -31.5% |
| Non-recurring operating charges | 66A | €7,109 | €4,242 | -€2,867 | -40.3% |
| Gross operating margin | 9900 | €213,957 | €209,468 | -€4,490 | -2.1% |
| Operating profit (loss) | 9901 | €10,005 | -€13,353 | -€23,358 | |
| Financial income | 75/76B | €1 | €329 | +€328 | +32775.0% |
| Recurring financial income | 75 | €1 | €329 | +€328 | +32775.0% |
| Financial charges | 65/66B | €225 | €370 | +€146 | +64.9% |
| Recurring financial charges | 65 | €225 | €370 | +€146 | +64.9% |
| Profit (loss) for the period before taxes | 9903 | €9,781 | -€13,395 | -€23,176 | |
| Income taxes | 67/77 | €5,364 | €398 | -€4,966 | -92.6% |
| Profit (loss) for the period | 9904 | €4,417 | -€13,793 | -€18,210 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,417 | -€13,793 | -€18,210 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 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.