VICTOR-e: 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-e
Largest movements
- Tangible fixed assets +€262,492
up €262,492 (+47.2%), from €556,295 to €818,787
of which Land and buildings: +€264,236
- Intangible fixed assets -€106,070
down €106,070 (-74.1%), from €143,082 to €37,012
- Cash -€97,733
down €97,733 (-83.0%), from €117,697 to €19,964
mainly Investment in fixed assets (net) (-€306,810) and Net result for the year (-€111,619)
- Receivables within one year -€76,815
down €76,815 (-34.6%), from €222,089 to €145,274
of which Trade receivables: -€53,828
- Trade debts +€183,611
up €183,611 (+400.9%), from €45,802 to €229,413
- Profit (loss) carried forward -€111,619
down €111,619 (-209.3%), from -€53,322 to -€164,941
- Debts after one year -€111,488
down €111,488 (-16.7%), from €668,003 to €556,515
- Provisions -€34,000
no longer reported in 2024 (was €34,000)
- Other debts +€31,658
up €31,658 (+141.4%), from €22,386 to €54,044
- Gross operating margin -€134,875
down €134,875 (-40.9%), from €329,438 to €194,563
- Write-downs -€46,083
no longer reported in 2024 (was €46,083)
- Provisions -€34,000
new in 2024: -€34,000
- Depreciation +€5,418
up €5,418 (+3.7%), from €144,969 to €150,388
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,083,950 | €1,065,203 | -€18,747 | -1.7% |
| Fixed assets | 21/28 | €699,377 | €855,799 | +€156,422 | +22.4% |
| Intangible fixed assets | 21 | €143,082 | €37,012 | -€106,070 | -74.1% |
| Tangible fixed assets | 22/27 | €556,295 | €818,787 | +€262,492 | +47.2% |
| Land and buildings | 22 | €553,617 | €817,853 | +€264,236 | +47.7% |
| Furniture and vehicles | 24 | €2,678 | €935 | -€1,744 | -65.1% |
| Current assets | 29/58 | €384,573 | €209,404 | -€175,169 | -45.5% |
| Amounts receivable within one year | 40/41 | €222,089 | €145,274 | -€76,815 | -34.6% |
| Trade receivables | 40 | €181,595 | €127,767 | -€53,828 | -29.6% |
| Other amounts receivable | 41 | €40,494 | €17,507 | -€22,987 | -56.8% |
| Current investments | 50/53 | €40,234 | €40,234 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €117,697 | €19,964 | -€97,733 | -83.0% |
| Deferred charges and accrued income | 490/1 | €4,553 | €3,932 | -€621 | -13.6% |
| Total equity and liabilities | 10/49 | €1,083,950 | €1,065,203 | -€18,747 | -1.7% |
| Equity | 10/15 | €139,464 | €27,844 | -€111,619 | -80.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €174,186 | €174,186 | = | 0.0% |
| Distributable reserves | 133 | €174,186 | €174,186 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,322 | -€164,941 | -€111,619 | -209.3% |
| Provisions and deferred taxes | 16 | €34,000 | - | -€34,000 | |
| Provisions for liabilities and charges | 160/5 | €34,000 | - | -€34,000 | |
| Environmental obligations | 163 | €34,000 | - | -€34,000 | |
| Amounts payable | 17/49 | €910,486 | €1,037,358 | +€126,872 | +13.9% |
| Amounts payable after more than one year | 17 | €668,003 | €556,515 | -€111,488 | -16.7% |
| Financial debts | 170/4 | €668,003 | €556,515 | -€111,488 | -16.7% |
| Amounts payable within one year | 42/48 | €240,669 | €479,028 | +€238,360 | +99.0% |
| Current portion of amounts payable after more than one year | 42 | €117,443 | €132,507 | +€15,064 | +12.8% |
| Trade debts | 44 | €45,802 | €229,413 | +€183,611 | +400.9% |
| Suppliers | 440/4 | €45,802 | €229,413 | +€183,611 | +400.9% |
| Taxes, remuneration and social security | 45 | €55,038 | €63,064 | +€8,026 | +14.6% |
| Taxes | 450/3 | €21,135 | €25,308 | +€4,172 | +19.7% |
| Remuneration and social security | 454/9 | €33,903 | €37,757 | +€3,854 | +11.4% |
| Other amounts payable | 47/48 | €22,386 | €54,044 | +€31,658 | +141.4% |
| Accrued charges and deferred income | 492/3 | €1,815 | €1,815 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €159,231 | €160,249 | +€1,017 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,969 | €150,388 | +€5,418 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,083 | - | -€46,083 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€34,000 | -€34,000 | |
| Other operating charges | 640/8 | €5,874 | €6,315 | +€441 | +7.5% |
| Gross operating margin | 9900 | €329,438 | €194,563 | -€134,875 | -40.9% |
| Operating profit (loss) | 9901 | -€26,720 | -€88,388 | -€61,669 | -230.8% |
| Financial income | 75/76B | €1,014 | €967 | -€47 | -4.6% |
| Recurring financial income | 75 | €1,014 | €967 | -€47 | -4.6% |
| Financial charges | 65/66B | €27,033 | €24,198 | -€2,836 | -10.5% |
| Recurring financial charges | 65 | €27,033 | €24,198 | -€2,836 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€52,739 | -€111,619 | -€58,880 | -111.6% |
| Income taxes | 67/77 | €583 | - | -€583 | |
| Profit (loss) for the period | 9904 | -€53,322 | -€111,619 | -€58,298 | -109.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,322 | -€111,619 | -€58,298 | -109.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.