VICTOREAL: 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.
What changed
VICTOREAL
financial year 2023 compared with 2022filed annual accounts (NBB)
Net result for the year
€266,053
2022 · €9,492+€256,561
Equity
€965,115
2022 · €699,062+€266,053
Cash
€6,238
2022 · €20,492-€14,254
Balance sheet total
€2.7m
2022 · €2.5m+€220,078
Largest movements
Assets
- Tangible fixed assets +€240,332
up €240,332 (+10.0%), from €2.4m to €2.6m
of which Land and buildings: +€226,897
Equity and liabilities
- Profit (loss) carried forward +€266,053
up €266,053 (+77.7%), from -€342,346 to -€76,293
- Debts after one year -€71,345
down €71,345 (-4.5%), from €1.6m to €1.5m
Income statement
- Gross operating margin +€291,098
up €291,098 (+237%), from €122,575 to €413,674
- Financial charges +€34,014
up €34,014 (+165%), from €20,647 to €54,661
From the 2022 result to the 2023 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.
Result 2022
€9,492
Gross operating margin
+€291,098
Depreciation
-€500
Other operating charges
-€23
Financial income
-€1
Financial charges
-€34,014
Result 2023
€266,053
raises the resultlowers the result
Derived cash bridge
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€389,141
Investment
-€332,331
Financing
-€71,064
Cash 2022
€20,492
From operations (derived)
+€389,141
Net result for the year
+€266,053
Depreciation
+€91,999
Receivables within one year
+€6,000
Trade debts
+€10,270
Other debts
+€14,818
Investment (derived)
-€332,331
Investment in fixed assets (net)
-€332,331
Financing
-€71,064
Debts after one year
-€71,345
Current portion of long-term debt
+€281
Cash 2023
€6,238
brings cash intakes cash out
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,482,026 | €2,702,104 | +€220,078 | +8.9% |
| Fixed assets | 21/28 | €2,394,165 | €2,634,497 | +€240,332 | +10.0% |
| Tangible fixed assets | 22/27 | €2,394,165 | €2,634,497 | +€240,332 | +10.0% |
| Land and buildings | 22 | €2,386,337 | €2,613,234 | +€226,897 | +9.5% |
| Plant, machinery and equipment | 23 | €7,829 | €21,263 | +€13,434 | +172% |
| Current assets | 29/58 | €87,861 | €67,607 | -€20,254 | -23.1% |
| Amounts receivable within one year | 40/41 | €64,016 | €58,016 | -€6,000 | -9.4% |
| Trade receivables | 40 | €4,016 | €4,016 | = | 0.0% |
| Other amounts receivable | 41 | €60,000 | €54,000 | -€6,000 | -10.0% |
| Cash at bank and in hand | 54/58 | €20,492 | €6,238 | -€14,254 | -69.6% |
| Deferred charges and accrued income | 490/1 | €3,353 | €3,353 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,482,026 | €2,702,104 | +€220,078 | +8.9% |
| Equity | 10/15 | €699,062 | €965,115 | +€266,053 | +38.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €922,000 | €922,000 | = | 0.0% |
| Reserves | 13 | €44,408 | €44,408 | = | 0.0% |
| Non-distributable reserves | 130/1 | €992 | €992 | = | 0.0% |
| Legal reserve | 130 | €992 | €992 | = | 0.0% |
| Tax-exempt reserves | 132 | €992 | €992 | = | 0.0% |
| Distributable reserves | 133 | €42,425 | €42,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€342,346 | -€76,293 | +€266,053 | +77.7% |
| Amounts payable | 17/49 | €1,782,965 | €1,736,990 | -€45,975 | -2.6% |
| Amounts payable after more than one year | 17 | €1,572,413 | €1,501,068 | -€71,345 | -4.5% |
| Financial debts | 170/4 | €1,572,413 | €1,501,068 | -€71,345 | -4.5% |
| Amounts payable within one year | 42/48 | €210,552 | €235,922 | +€25,369 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €9,731 | €10,011 | +€281 | +2.9% |
| Trade debts | 44 | €180 | €10,450 | +€10,270 | +5,706% |
| Suppliers | 440/4 | €180 | €10,450 | +€10,270 | +5,706% |
| Other amounts payable | 47/48 | €200,641 | €215,460 | +€14,818 | +7.4% |
| Non-recurring operating income | 76A | - | €320,000 | +€320,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,499 | €91,999 | +€500 | +0.5% |
| Other operating charges | 640/8 | €937 | €960 | +€23 | +2.5% |
| Gross operating margin | 9900 | €122,575 | €413,674 | +€291,098 | +237% |
| Operating profit (loss) | 9901 | €30,139 | €320,714 | +€290,576 | +964% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €20,647 | €54,661 | +€34,014 | +165% |
| Recurring financial charges | 65 | €20,647 | €54,661 | +€34,014 | +165% |
| Profit (loss) for the period before taxes | 9903 | €9,492 | €266,053 | +€256,561 | +2,703% |
| Profit (loss) for the period | 9904 | €9,492 | €266,053 | +€256,561 | +2,703% |
| Profit (loss) for the period to be appropriated | 9905 | €9,492 | €266,053 | +€256,561 | +2,703% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.