VICTORIM: 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.
VICTORIM
Largest movements
- Tangible fixed assets -€3,402
down €3,402 (-12.7%), from €26,877 to €23,476
- Cash +€3,207
up €3,207 (+32.8%), from €9,783 to €12,989
mainly Depreciation (+€3,402)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€407
down €407 (-7.2%), from €5,642 to €5,235
- Depreciation +€187
up €187 (+5.8%), from €3,215 to €3,402
- Other operating charges +€59
up €59 (+3.1%), from €1,879 to €1,937
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 | €36,806 | €36,611 | -€195 | -0.5% |
| Fixed assets | 21/28 | €27,024 | €23,622 | -€3,402 | -12.6% |
| Tangible fixed assets | 22/27 | €26,877 | €23,476 | -€3,402 | -12.7% |
| Land and buildings | 22 | €26,877 | €23,476 | -€3,402 | -12.7% |
| Financial fixed assets | 28 | €146 | €146 | = | 0.0% |
| Current assets | 29/58 | €9,783 | €12,989 | +€3,207 | +32.8% |
| Cash at bank and in hand | 54/58 | €9,783 | €12,989 | +€3,207 | +32.8% |
| Total equity and liabilities | 10/49 | €36,806 | €36,611 | -€195 | -0.5% |
| Equity | 10/15 | €3,672 | €3,476 | -€195 | -5.3% |
| Contributions | 10/11 | €112,800 | €112,800 | = | 0.0% |
| Capital | 10 | €112,800 | €112,800 | = | 0.0% |
| Issued capital | 100 | €112,800 | €112,800 | = | 0.0% |
| Reserves | 13 | €423 | €423 | = | 0.0% |
| Non-distributable reserves | 130/1 | €423 | €423 | = | 0.0% |
| Legal reserve | 130 | €423 | €423 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,551 | -€109,747 | -€195 | -0.2% |
| Amounts payable | 17/49 | €33,135 | €33,135 | = | 0.0% |
| Amounts payable after more than one year | 17 | €33,000 | €33,000 | = | 0.0% |
| Financial debts | 170/4 | €33,000 | €33,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135 | €135 | = | 0.0% |
| Other amounts payable | 47/48 | €135 | €135 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,215 | €3,402 | +€187 | +5.8% |
| Other operating charges | 640/8 | €1,879 | €1,937 | +€59 | +3.1% |
| Gross operating margin | 9900 | €5,642 | €5,235 | -€407 | -7.2% |
| Operating profit (loss) | 9901 | €549 | -€104 | -€653 | |
| Financial charges | 65/66B | €87 | €91 | +€4 | +4.8% |
| Recurring financial charges | 65 | €87 | €91 | +€4 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €462 | -€195 | -€657 | |
| Profit (loss) for the period | 9904 | €462 | -€195 | -€657 | |
| Profit (loss) for the period to be appropriated | 9905 | €462 | -€195 | -€657 |
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 14 October 2026 via checked.be.