VICTORIACONSTRUCT: 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.
VICTORIACONSTRUCT
Largest movements
- Tangible fixed assets -€95,194
down €95,194 (-23.1%), from €411,487 to €316,294
of which Furniture and vehicles: -€66,559
- Cash +€81,520
up €81,520 (+285%), from €28,573 to €110,094
mainly Net result for the year (+€133,206) and Depreciation (+€100,250)
- Receivables within one year +€76,912
up €76,912 (+17.9%), from €428,805 to €505,717
of which Trade receivables: +€53,063
- Profit (loss) carried forward +€96,621
up €96,621 (+21.8%), from €443,293 to €539,914
- Debts after one year -€58,132
down €58,132 (-38.4%), from €151,507 to €93,375
- Tax, wage and social debts +€24,469
up €24,469 (+28.6%), from €85,469 to €109,938
of which Taxes: +€22,316
- Gross operating margin +€104,106
up €104,106 (+44.0%), from €236,388 to €340,495
- Staff costs +€33,052
new in 2025: €33,052
- Financial income -€14,491
down €14,491 (-88.9%), from €16,305 to €1,813
- Depreciation +€13,762
up €13,762 (+15.9%), from €86,488 to €100,250
- Taxes +€9,199
up €9,199 (+27.9%), from €33,000 to €42,200
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.
Derived cash bridge
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 | €877,796 | €940,480 | +€62,684 | +7.1% |
| Fixed assets | 21/28 | €411,487 | €316,294 | -€95,194 | -23.1% |
| Tangible fixed assets | 22/27 | €411,487 | €316,294 | -€95,194 | -23.1% |
| Plant, machinery and equipment | 23 | €130,042 | €101,408 | -€28,634 | -22.0% |
| Furniture and vehicles | 24 | €281,445 | €214,886 | -€66,559 | -23.6% |
| Current assets | 29/58 | €466,309 | €624,186 | +€157,878 | +33.9% |
| Amounts receivable within one year | 40/41 | €428,805 | €505,717 | +€76,912 | +17.9% |
| Trade receivables | 40 | €331,424 | €384,487 | +€53,063 | +16.0% |
| Other amounts receivable | 41 | €97,381 | €121,230 | +€23,849 | +24.5% |
| Cash at bank and in hand | 54/58 | €28,573 | €110,094 | +€81,520 | +285% |
| Deferred charges and accrued income | 490/1 | €8,930 | €8,376 | -€554 | -6.2% |
| Total equity and liabilities | 10/49 | €877,796 | €940,480 | +€62,684 | +7.1% |
| Equity | 10/15 | €443,357 | €539,978 | +€96,621 | +21.8% |
| Contributions | 10/11 | €32 | €32 | = | 0.0% |
| Contributions outside capital | 11 | - | €32 | +€32 | |
| Other | 1109/19 | - | €32 | +€32 | |
| Reserves | 13 | €32 | €32 | = | 0.0% |
| Distributable reserves | 133 | €32 | €32 | = | 0.0% |
| Profit (loss) carried forward | 14 | €443,293 | €539,914 | +€96,621 | +21.8% |
| Amounts payable | 17/49 | €434,439 | €400,502 | -€33,936 | -7.8% |
| Amounts payable after more than one year | 17 | €151,507 | €93,375 | -€58,132 | -38.4% |
| Financial debts | 170/4 | €151,507 | €93,375 | -€58,132 | -38.4% |
| Amounts payable within one year | 42/48 | €282,932 | €307,127 | +€24,196 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €64,251 | €61,030 | -€3,222 | -5.0% |
| Trade debts | 44 | €103,212 | €101,159 | -€2,052 | -2.0% |
| Suppliers | 440/4 | €103,212 | €101,159 | -€2,052 | -2.0% |
| Taxes, remuneration and social security | 45 | €85,469 | €109,938 | +€24,469 | +28.6% |
| Taxes | 450/3 | €66,469 | €88,785 | +€22,316 | +33.6% |
| Remuneration and social security | 454/9 | €19,000 | €21,153 | +€2,153 | +11.3% |
| Other amounts payable | 47/48 | €30,000 | €35,000 | +€5,000 | +16.7% |
| Remuneration, social security and pensions | 62 | - | €33,052 | +€33,052 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,488 | €100,250 | +€13,762 | +15.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,787 | €1,945 | +€159 | +8.9% |
| Other operating charges | 640/8 | €17,238 | €23,223 | +€5,984 | +34.7% |
| Gross operating margin | 9900 | €236,388 | €340,495 | +€104,106 | +44.0% |
| Operating profit (loss) | 9901 | €130,876 | €182,024 | +€51,148 | +39.1% |
| Financial income | 75/76B | €16,305 | €1,813 | -€14,491 | -88.9% |
| Recurring financial income | 75 | €16,305 | €1,813 | -€14,491 | -88.9% |
| Financial charges | 65/66B | €9,346 | €8,432 | -€914 | -9.8% |
| Recurring financial charges | 65 | €9,346 | €8,432 | -€914 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €137,834 | €175,405 | +€37,571 | +27.3% |
| Income taxes | 67/77 | €33,000 | €42,200 | +€9,199 | +27.9% |
| Profit (loss) for the period | 9904 | €104,834 | €133,206 | +€28,372 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €104,834 | €133,206 | +€28,372 | +27.1% |
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 16 October 2026 via checked.be.