Victor Boxus: what changed
Victor Boxus
Largest movements
- Cash +€30,385
up €30,385 (+133%), from €22,785 to €53,170
mainly Net result for the year (+€19,205) and Receivables within one year (+€14,495)
- Receivables within one year -€14,495
down €14,495 (-28.5%), from €50,795 to €36,300
- Profit (loss) carried forward +€19,205
up €19,205 (+36.7%), from €52,310 to €71,514
- Tax, wage and social debts -€2,163
down €2,163 (-17.0%), from €12,758 to €10,595
- Accrued charges and deferred income -€1,930
no longer reported in 2025 (was €1,930)
- Gross operating margin -€2,607
down €2,607 (-8.6%), from €30,311 to €27,704
- Taxes +€721
up €721 (+10.5%), from €6,875 to €7,596
- Depreciation +€352
up €352 (+542%), from €65 to €417
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,601 | €91,112 | +€15,510 | +20.5% |
| Fixed assets | 21/28 | €2,022 | €1,604 | -€417 | -20.6% |
| Tangible fixed assets | 22/27 | €2,022 | €1,604 | -€417 | -20.6% |
| Plant, machinery and equipment | 23 | €2,022 | €1,604 | -€417 | -20.6% |
| Current assets | 29/58 | €73,580 | €89,507 | +€15,928 | +21.6% |
| Amounts receivable within one year | 40/41 | €50,795 | €36,300 | -€14,495 | -28.5% |
| Trade receivables | 40 | €50,795 | €36,300 | -€14,495 | -28.5% |
| Cash at bank and in hand | 54/58 | €22,785 | €53,170 | +€30,385 | +133% |
| Deferred charges and accrued income | 490/1 | - | €37 | +€37 | |
| Total equity and liabilities | 10/49 | €75,601 | €91,112 | +€15,510 | +20.5% |
| Equity | 10/15 | €53,310 | €72,514 | +€19,205 | +36.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,310 | €71,514 | +€19,205 | +36.7% |
| Amounts payable | 17/49 | €22,292 | €18,597 | -€3,694 | -16.6% |
| Amounts payable within one year | 42/48 | €20,362 | €18,597 | -€1,764 | -8.7% |
| Trade debts | 44 | €419 | €817 | +€398 | +95.1% |
| Suppliers | 440/4 | €419 | €817 | +€398 | +95.1% |
| Taxes, remuneration and social security | 45 | €12,758 | €10,595 | -€2,163 | -17.0% |
| Taxes | 450/3 | €12,758 | €10,595 | -€2,163 | -17.0% |
| Other amounts payable | 47/48 | €7,185 | €7,185 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,930 | - | -€1,930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65 | €417 | +€352 | +542% |
| Other operating charges | 640/8 | €507 | €254 | -€253 | -49.9% |
| Gross operating margin | 9900 | €30,311 | €27,704 | -€2,607 | -8.6% |
| Operating profit (loss) | 9901 | €29,740 | €27,033 | -€2,707 | -9.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €187 | €232 | +€45 | +24.4% |
| Recurring financial charges | 65 | €187 | €232 | +€45 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €29,553 | €26,801 | -€2,752 | -9.3% |
| Income taxes | 67/77 | €6,875 | €7,596 | +€721 | +10.5% |
| Profit (loss) for the period | 9904 | €22,678 | €19,205 | -€3,473 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,678 | €19,205 | -€3,473 | -15.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.