VICTOIRE PROPERTIES: 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.
VICTOIRE PROPERTIES
Largest movements
- Tangible fixed assets +€261,781
up €261,781 (+222.0%), from €117,930 to €379,711
of which Land and buildings: +€251,059
- Cash +€125,551
up €125,551 (+29.0%), from €433,516 to €559,067
mainly Trade debts (+€258,197) and Net result for the year (+€96,536)
- Trade debts +€258,197
up €258,197 (+42.1%), from €613,548 to €871,744
- Other debts +€96,536
up €96,536 (+54.6%), from €176,725 to €273,261
- Turnover -€3.8m
no longer reported in 2025 (was €3.8m)
- Purchases and services -€2.8m
no longer reported in 2025 (was €2.8m)
- Gross operating margin -€344,067
down €344,067 (-33.4%), from €1.0m to €685,570
- Staff costs +€129,188
up €129,188 (+36.2%), from €357,340 to €486,528
- Taxes -€126,143
down €126,143 (-75.1%), from €167,878 to €41,734
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 | €2,014,237 | €2,369,145 | +€354,908 | +17.6% |
| Fixed assets | 21/28 | €128,685 | €390,466 | +€261,781 | +203.4% |
| Tangible fixed assets | 22/27 | €117,930 | €379,711 | +€261,781 | +222.0% |
| Land and buildings | 22 | - | €251,059 | +€251,059 | |
| Plant, machinery and equipment | 23 | €104,445 | €92,247 | -€12,198 | -11.7% |
| Furniture and vehicles | 24 | €13,485 | €36,406 | +€22,921 | +170.0% |
| Financial fixed assets | 28 | €10,755 | €10,755 | = | 0.0% |
| Current assets | 29/58 | €1,885,552 | €1,978,679 | +€93,127 | +4.9% |
| Amounts receivable within one year | 40/41 | €1,430,658 | €1,416,427 | -€14,232 | -1.0% |
| Trade receivables | 40 | €1,330,824 | €1,221,182 | -€109,642 | -8.2% |
| Other amounts receivable | 41 | €99,834 | €195,245 | +€95,411 | +95.6% |
| Cash at bank and in hand | 54/58 | €433,516 | €559,067 | +€125,551 | +29.0% |
| Deferred charges and accrued income | 490/1 | €21,377 | €3,185 | -€18,192 | -85.1% |
| Total equity and liabilities | 10/49 | €2,014,237 | €2,369,145 | +€354,908 | +17.6% |
| Equity | 10/15 | €1,160,747 | €1,160,747 | = | 0.0% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €308,582 | €308,582 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | - | -€7,000 | |
| Reserves not available under the articles | 1311 | - | €7,000 | +€7,000 | |
| Tax-exempt reserves | 132 | €252,600 | €252,600 | = | 0.0% |
| Distributable reserves | 133 | €48,982 | €48,982 | = | 0.0% |
| Profit (loss) carried forward | 14 | €782,165 | €782,165 | = | 0.0% |
| Amounts payable | 17/49 | €853,490 | €1,208,398 | +€354,908 | +41.6% |
| Amounts payable within one year | 42/48 | €842,290 | €1,197,198 | +€354,908 | +42.1% |
| Trade debts | 44 | €613,548 | €871,744 | +€258,197 | +42.1% |
| Suppliers | 440/4 | €613,548 | €871,744 | +€258,197 | +42.1% |
| Taxes, remuneration and social security | 45 | €52,017 | €52,193 | +€176 | +0.3% |
| Taxes | 450/3 | €12,851 | €8,152 | -€4,700 | -36.6% |
| Remuneration and social security | 454/9 | €39,166 | €44,041 | +€4,876 | +12.4% |
| Other amounts payable | 47/48 | €176,725 | €273,261 | +€96,536 | +54.6% |
| Accrued charges and deferred income | 492/3 | €11,200 | €11,200 | = | 0.0% |
| Turnover | 70 | €3,849,605 | - | -€3.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,845,221 | - | -€2.8m | |
| Remuneration, social security and pensions | 62 | €357,340 | €486,528 | +€129,188 | +36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,757 | €34,265 | -€30,492 | -47.1% |
| Other operating charges | 640/8 | €6,025 | €30,309 | +€24,284 | +403.1% |
| Gross operating margin | 9900 | €1,029,637 | €685,570 | -€344,067 | -33.4% |
| Operating profit (loss) | 9901 | €601,515 | €134,468 | -€467,047 | -77.6% |
| Financial income | 75/76B | €631 | €4,964 | +€4,334 | +687.2% |
| Recurring financial income | 75 | €631 | €4,964 | +€4,334 | +687.2% |
| Financial charges | 65/66B | €4,942 | €1,162 | -€3,780 | -76.5% |
| Recurring financial charges | 65 | €4,942 | €1,162 | -€3,780 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €597,203 | €138,270 | -€458,933 | -76.8% |
| Income taxes | 67/77 | €167,878 | €41,734 | -€126,143 | -75.1% |
| Profit (loss) for the period | 9904 | €429,325 | €96,536 | -€332,790 | -77.5% |
| Transfer to tax-exempt reserves | 689 | €222,276 | - | -€222,276 | |
| Profit (loss) for the period to be appropriated | 9905 | €207,049 | €96,536 | -€110,514 | -53.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.