VICTOR CAB: 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.
VICTOR CAB
Largest movements
- Receivables within one year -€730,876
down €730,876 (-64.7%), from €1.1m to €397,984
of which Trade receivables: -€730,876
- Deferred charges and accrued income +€144,450
up €144,450 (+4047.4%), from €3,569 to €148,019
- Cash +€16,999
up €16,999 (+27.5%), from €61,822 to €78,821
mainly Receivables within one year (+€730,876) and Other debts (+€34,593)
- Trade debts -€639,707
down €639,707 (-78.5%), from €815,315 to €175,608
- Other debts +€34,593
up €34,593 (+36.7%), from €94,324 to €128,917
- Profit (loss) carried forward +€24,780
up €24,780 (+46.8%), from -€52,963 to -€28,183
- Other operating charges -€10,933
down €10,933 (-94.7%), from €11,548 to €615
- Staff costs -€9,679
down €9,679 (-4.8%), from €202,574 to €192,895
- Depreciation -€8,586
down €8,586 (-94.1%), from €9,120 to €534
- Gross operating margin -€7,566
down €7,566 (-3.3%), from €227,716 to €220,150
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 | €1,194,785 | €624,824 | -€569,961 | -47.7% |
| Fixed assets | 21/28 | €534 | - | -€534 | |
| Tangible fixed assets | 22/27 | €534 | - | -€534 | |
| Other tangible fixed assets | 26 | €534 | - | -€534 | |
| Current assets | 29/58 | €1,194,251 | €624,824 | -€569,427 | -47.7% |
| Amounts receivable within one year | 40/41 | €1,128,860 | €397,984 | -€730,876 | -64.7% |
| Trade receivables | 40 | €1,120,310 | €389,434 | -€730,876 | -65.2% |
| Other amounts receivable | 41 | €8,550 | €8,550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,822 | €78,821 | +€16,999 | +27.5% |
| Deferred charges and accrued income | 490/1 | €3,569 | €148,019 | +€144,450 | +4047.4% |
| Total equity and liabilities | 10/49 | €1,194,785 | €624,824 | -€569,961 | -47.7% |
| Equity | 10/15 | €234,137 | €258,917 | +€24,780 | +10.6% |
| Contributions | 10/11 | €287,100 | €287,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,963 | -€28,183 | +€24,780 | +46.8% |
| Amounts payable | 17/49 | €960,648 | €365,907 | -€594,741 | -61.9% |
| Amounts payable within one year | 42/48 | €960,648 | €365,907 | -€594,741 | -61.9% |
| Trade debts | 44 | €815,315 | €175,608 | -€639,707 | -78.5% |
| Suppliers | 440/4 | €815,315 | €175,608 | -€639,707 | -78.5% |
| Taxes, remuneration and social security | 45 | €51,009 | €61,382 | +€10,373 | +20.3% |
| Taxes | 450/3 | €12,172 | €16,429 | +€4,257 | +35.0% |
| Remuneration and social security | 454/9 | €38,837 | €44,953 | +€6,116 | +15.7% |
| Other amounts payable | 47/48 | €94,324 | €128,917 | +€34,593 | +36.7% |
| Remuneration, social security and pensions | 62 | €202,574 | €192,895 | -€9,679 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,120 | €534 | -€8,586 | -94.1% |
| Other operating charges | 640/8 | €11,548 | €615 | -€10,933 | -94.7% |
| Gross operating margin | 9900 | €227,716 | €220,150 | -€7,566 | -3.3% |
| Operating profit (loss) | 9901 | €4,474 | €26,106 | +€21,632 | +483.5% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,449 | €1,331 | -€1,118 | -45.7% |
| Recurring financial charges | 65 | €2,449 | €1,331 | -€1,118 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €2,025 | €24,780 | +€22,755 | +1123.7% |
| Profit (loss) for the period | 9904 | €2,025 | €24,780 | +€22,755 | +1123.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,025 | €24,780 | +€22,755 | +1123.7% |
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 12 October 2026 via checked.be.