VICTORIA: 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.
VICTORIA
Largest movements
- Intangible fixed assets -€38,250
no longer reported in 2025 (was €38,250)
- Receivables within one year -€15,306
down €15,306 (-49.1%), from €31,174 to €15,868
of which Trade receivables: -€18,657
- Financial fixed assets -€8,200
down €8,200 (-84.5%), from €9,700 to €1,500
- Tangible fixed assets -€1,360
no longer reported in 2025 (was €1,360)
- Profit (loss) carried forward -€49,402
down €49,402, from €17,608 to -€31,794
- Other debts -€21,395
down €21,395 (-50.6%), from €42,320 to €20,925
- Trade debts +€12,108
up €12,108 (+116.5%), from €10,394 to €22,502
- Tax, wage and social debts -€5,300
down €5,300 (-64.2%), from €8,258 to €2,958
of which Taxes: -€7,358
- Purchases and services -€96,426
no longer reported in 2025 (was €96,426)
- Turnover -€95,827
no longer reported in 2025 (was €95,827)
- Gross operating margin -€54,922
down €54,922 (-9171.5%), from -€599 to -€55,520
- Financial income +€48,500
new in 2025: €48,500
of which Financial income: +€48,500
- Financial charges +€34,934
up €34,934 (+7394.2%), from €472 to €35,406
of which Non-recurring financial charges: +€35,390
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 | €81,580 | €17,590 | -€63,989 | -78.4% |
| Fixed assets | 21/28 | €49,310 | €1,500 | -€47,810 | -97.0% |
| Intangible fixed assets | 21 | €38,250 | - | -€38,250 | |
| Tangible fixed assets | 22/27 | €1,360 | - | -€1,360 | |
| Plant, machinery and equipment | 23 | €1,360 | - | -€1,360 | |
| Financial fixed assets | 28 | €9,700 | €1,500 | -€8,200 | -84.5% |
| Current assets | 29/58 | €32,270 | €16,090 | -€16,179 | -50.1% |
| Stocks and contracts in progress | 3 | €733 | - | -€733 | |
| Stocks | 30/36 | €733 | - | -€733 | |
| Amounts receivable within one year | 40/41 | €31,174 | €15,868 | -€15,306 | -49.1% |
| Trade receivables | 40 | €18,657 | - | -€18,657 | |
| Other amounts receivable | 41 | €12,517 | €15,868 | +€3,351 | +26.8% |
| Cash at bank and in hand | 54/58 | €362 | €223 | -€140 | -38.6% |
| Total equity and liabilities | 10/49 | €81,580 | €17,590 | -€63,989 | -78.4% |
| Equity | 10/15 | €20,608 | -€28,794 | -€49,402 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,608 | -€31,794 | -€49,402 | |
| Amounts payable | 17/49 | €60,971 | €46,384 | -€14,587 | -23.9% |
| Amounts payable within one year | 42/48 | €60,971 | €46,384 | -€14,587 | -23.9% |
| Trade debts | 44 | €10,394 | €22,502 | +€12,108 | +116.5% |
| Suppliers | 440/4 | €10,394 | €22,502 | +€12,108 | +116.5% |
| Taxes, remuneration and social security | 45 | €8,258 | €2,958 | -€5,300 | -64.2% |
| Taxes | 450/3 | €8,258 | €900 | -€7,358 | -89.1% |
| Remuneration and social security | 454/9 | - | €2,058 | +€2,058 | |
| Other amounts payable | 47/48 | €42,320 | €20,925 | -€21,395 | -50.6% |
| Turnover | 70 | €95,827 | - | -€95,827 | |
| Goods, raw materials, services and sundry goods | 60/61 | €96,426 | - | -€96,426 | |
| Remuneration, social security and pensions | 62 | €4,133 | - | -€4,133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,953 | €4,953 | = | 0.0% |
| Other operating charges | 640/8 | €2,524 | €2,022 | -€502 | -19.9% |
| Gross operating margin | 9900 | -€599 | -€55,520 | -€54,922 | -9171.5% |
| Operating profit (loss) | 9901 | -€12,210 | -€62,496 | -€50,286 | -411.9% |
| Financial income | 75/76B | - | €48,500 | +€48,500 | |
| Recurring financial income | 75 | - | €48,500 | +€48,500 | |
| Non-recurring financial income | 76B | - | €48,500 | +€48,500 | |
| Financial charges | 65/66B | €472 | €35,406 | +€34,934 | +7394.2% |
| Recurring financial charges | 65 | €472 | €16 | -€456 | -96.5% |
| Non-recurring financial charges | 66B | - | €35,390 | +€35,390 | |
| Profit (loss) for the period before taxes | 9903 | -€12,682 | -€49,402 | -€36,720 | -289.5% |
| Income taxes | 67/77 | -€159 | - | +€159 | |
| Profit (loss) for the period | 9904 | -€12,523 | -€49,402 | -€36,879 | -294.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,523 | -€49,402 | -€36,879 | -294.5% |
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 9 October 2026 via checked.be.