VICTORY LAKE: what changed
What changed
VICTORY LAKE
NACE 86.230, Dental practice
filed annual accounts (NBB)
Net result for the year
€221,504
2024 · €76,514+€144,990
Equity
€1.4m
2024 · €1.2m+€221,504
Cash
€40,734
2024 · €24,120+€16,613
Balance sheet total
€5.8m
2024 · €3.8m+€2.1m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+40.1%), from €3.4m to €4.7m
of which Assets under construction and advance payments: +€975,000
- Receivables within one year +€502,292
up €502,292 (+377%), from €133,221 to €635,513
of which Other amounts receivable: +€453,145
- Financial fixed assets +€200,000
up €200,000 (+93.0%), from €215,000 to €415,000
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+271%), from €736,514 to €2.7m
- Debts after one year -€253,865
down €253,865 (-16.8%), from €1.5m to €1.3m
- Reserves +€221,504
up €221,504 (+18.7%), from €1.2m to €1.4m
of which Distributable reserves: +€150,173
Income statement
- Financial income +€174,308
up €174,308 (+757,862%), from €23 to €174,331
of which Non-recurring financial income: +€174,205
- Depreciation -€76,648
down €76,648 (-42.1%), from €182,123 to €105,475
- Taxes +€48,282
up €48,282 (+131%), from €36,838 to €85,120
- Financial charges +€19,491
up €19,491 (+26.5%), from €73,585 to €93,076
- Gross operating margin -€17,263
down €17,263 (-4.5%), from €380,934 to €363,671
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€76,514
Gross operating margin
-€17,263
Staff costs
-€77
Depreciation
+€76,648
Other operating charges
+€2,714
Other operating items
+€210
Financial income
+€174,308
Financial charges
-€19,491
Taxes
-€48,282
Deferred taxes and other
-€23,777
Result 2025
€221,504
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.9m
Investment
-€1.7m
Financing
-€252,344
Cash 2024
€24,120
From operations (derived)
+€1.9m
Net result for the year
+€221,504
Depreciation
+€105,475
Receivables within one year
-€502,292
Smaller working-capital items
+€3,082
Provisions
+€23,777
Tax, wage and social debts
+€55,760
Other debts
+€2.0m
Accrued charges and deferred income
+€29,811
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€252,344
Debts after one year
-€253,865
Current portion of long-term debt
+€5,719
Short-term financial debts
-€4,198
Cash 2025
€40,734
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,755,771 | €5,831,681 | +€2.1m | +55.3% |
| Fixed assets | 21/28 | €3,597,545 | €5,155,434 | +€1.6m | +43.3% |
| Tangible fixed assets | 22/27 | €3,382,545 | €4,740,434 | +€1.4m | +40.1% |
| Land and buildings | 22 | €2,847,525 | €3,742,465 | +€894,940 | +31.4% |
| Plant, machinery and equipment | 23 | €2,026 | €1,769 | -€257 | -12.7% |
| Furniture and vehicles | 24 | €28,317 | €21,200 | -€7,117 | -25.1% |
| Other tangible fixed assets | 26 | €504,677 | €0 | -€504,677 | -100% |
| Assets under construction and advance payments | 27 | - | €975,000 | +€975,000 | |
| Financial fixed assets | 28 | €215,000 | €415,000 | +€200,000 | +93.0% |
| Current assets | 29/58 | €158,226 | €676,247 | +€518,021 | +327% |
| Amounts receivable within one year | 40/41 | €133,221 | €635,513 | +€502,292 | +377% |
| Trade receivables | 40 | €30,923 | €80,070 | +€49,147 | +159% |
| Other amounts receivable | 41 | €102,298 | €555,443 | +€453,145 | +443% |
| Cash at bank and in hand | 54/58 | €24,120 | €40,734 | +€16,613 | +68.9% |
| Deferred charges and accrued income | 490/1 | €884 | €0 | -€884 | -100% |
| Total equity and liabilities | 10/49 | €3,755,771 | €5,831,681 | +€2.1m | +55.3% |
| Equity | 10/15 | €1,199,443 | €1,420,947 | +€221,504 | +18.5% |
| Contributions | 10/11 | €13,259 | €13,259 | = | 0.0% |
| Reserves | 13 | €1,186,184 | €1,407,688 | +€221,504 | +18.7% |
| Tax-exempt reserves | 132 | - | €71,331 | +€71,331 | |
| Distributable reserves | 133 | €1,186,184 | €1,336,357 | +€150,173 | +12.7% |
| Provisions and deferred taxes | 16 | - | €23,777 | +€23,777 | |
| Deferred taxes | 168 | - | €23,777 | +€23,777 | |
| Amounts payable | 17/49 | €2,556,327 | €4,386,957 | +€1.8m | +71.6% |
| Amounts payable after more than one year | 17 | €1,506,968 | €1,253,103 | -€253,865 | -16.8% |
| Financial debts | 170/4 | €1,506,968 | €1,253,103 | -€253,865 | -16.8% |
| Amounts payable within one year | 42/48 | €1,020,174 | €3,074,858 | +€2.1m | +201% |
| Current portion of amounts payable after more than one year | 42 | €248,146 | €253,865 | +€5,719 | +2.3% |
| Financial debts | 43 | €4,226 | €28 | -€4,198 | -99.3% |
| Credit institutions | 430/8 | €4,226 | €28 | -€4,198 | -99.3% |
| Trade debts | 44 | €1,223 | €3,422 | +€2,198 | +180% |
| Suppliers | 440/4 | €1,223 | €3,422 | +€2,198 | +180% |
| Taxes, remuneration and social security | 45 | €30,065 | €85,825 | +€55,760 | +185% |
| Taxes | 450/3 | €30,065 | €85,825 | +€55,760 | +185% |
| Other amounts payable | 47/48 | €736,514 | €2,731,719 | +€2.0m | +271% |
| Accrued charges and deferred income | 492/3 | €29,186 | €58,996 | +€29,811 | +102% |
| Non-recurring operating income | 76A | €0 | €454 | +€454 | |
| Remuneration, social security and pensions | 62 | €0 | €77 | +€77 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,123 | €105,475 | -€76,648 | -42.1% |
| Other operating charges | 640/8 | €11,593 | €8,879 | -€2,714 | -23.4% |
| Non-recurring operating charges | 66A | €303 | €94 | -€210 | -69.1% |
| Gross operating margin | 9900 | €380,934 | €363,671 | -€17,263 | -4.5% |
| Operating profit (loss) | 9901 | €186,914 | €249,146 | +€62,232 | +33.3% |
| Financial income | 75/76B | €23 | €174,331 | +€174,308 | +757,862% |
| Recurring financial income | 75 | €23 | €126 | +€103 | +447% |
| Non-recurring financial income | 76B | - | €174,205 | +€174,205 | |
| Financial charges | 65/66B | €73,585 | €93,076 | +€19,491 | +26.5% |
| Recurring financial charges | 65 | €73,585 | €93,076 | +€19,491 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €113,352 | €330,401 | +€217,049 | +191% |
| Transfer to deferred taxes | 680 | - | €23,777 | +€23,777 | |
| Income taxes | 67/77 | €36,838 | €85,120 | +€48,282 | +131% |
| Profit (loss) for the period | 9904 | €76,514 | €221,504 | +€144,990 | +189% |
| Transfer to tax-exempt reserves | 689 | - | €71,331 | +€71,331 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,514 | €150,173 | +€73,659 | +96.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.