VICTRANS: 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.
VICTRANS
Largest movements
- Receivables within one year +€443,282
up €443,282 (+208%), from €213,452 to €656,734
of which Trade receivables: +€441,758
- Cash -€319,899
down €319,899 (-61.9%), from €516,815 to €196,916
- Tangible fixed assets -€20,327
down €20,327 (-77.7%), from €26,159 to €5,832
- Reserves +€54,436
up €54,436 (+18.4%), from €295,335 to €349,771
- Trade debts +€26,885
up €26,885 (+15.4%), from €174,944 to €201,829
- Tax, wage and social debts +€26,832
up €26,832 (+9.8%), from €274,837 to €301,669
of which Taxes: +€29,131
- Staff costs +€952,520
up €952,520 (+51.6%), from €1.8m to €2.8m
- Gross operating margin +€921,770
up €921,770 (+46.9%), from €2.0m to €2.9m
- Depreciation -€85,532
down €85,532 (-95.0%), from €90,079 to €4,548
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €763,716 | €871,868 | +€108,152 | +14.2% |
| Fixed assets | 21/28 | €33,129 | €12,837 | -€20,292 | -61.3% |
| Tangible fixed assets | 22/27 | €26,159 | €5,832 | -€20,327 | -77.7% |
| Furniture and vehicles | 24 | €26,159 | €5,832 | -€20,327 | -77.7% |
| Financial fixed assets | 28 | €6,970 | €7,005 | +€35 | +0.5% |
| Current assets | 29/58 | €730,587 | €859,031 | +€128,444 | +17.6% |
| Amounts receivable within one year | 40/41 | €213,452 | €656,734 | +€443,282 | +208% |
| Trade receivables | 40 | €202,536 | €644,294 | +€441,758 | +218% |
| Other amounts receivable | 41 | €10,916 | €12,440 | +€1,524 | +14.0% |
| Cash at bank and in hand | 54/58 | €516,815 | €196,916 | -€319,899 | -61.9% |
| Deferred charges and accrued income | 490/1 | €320 | €5,381 | +€5,060 | +1,579% |
| Total equity and liabilities | 10/49 | €763,716 | €871,868 | +€108,152 | +14.2% |
| Equity | 10/15 | €313,935 | €368,371 | +€54,436 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €295,335 | €349,771 | +€54,436 | +18.4% |
| Distributable reserves | 133 | €295,335 | €349,771 | +€54,436 | +18.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €449,781 | €503,497 | +€53,716 | +11.9% |
| Amounts payable within one year | 42/48 | €449,781 | €503,497 | +€53,716 | +11.9% |
| Trade debts | 44 | €174,944 | €201,829 | +€26,885 | +15.4% |
| Suppliers | 440/4 | €174,944 | €201,829 | +€26,885 | +15.4% |
| Taxes, remuneration and social security | 45 | €274,837 | €301,669 | +€26,832 | +9.8% |
| Taxes | 450/3 | €55,244 | €84,375 | +€29,131 | +52.7% |
| Remuneration and social security | 454/9 | €219,592 | €217,293 | -€2,299 | -1.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €11,743 | +€11,743 | |
| Remuneration, social security and pensions | 62 | €1,846,538 | €2,799,058 | +€952,520 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,079 | €4,548 | -€85,532 | -95.0% |
| Other operating charges | 640/8 | €2,257 | €3,014 | +€756 | +33.5% |
| Non-recurring operating charges | 66A | €5,009 | €0 | -€5,009 | -100% |
| Gross operating margin | 9900 | €1,963,971 | €2,885,741 | +€921,770 | +46.9% |
| Operating profit (loss) | 9901 | €20,087 | €79,121 | +€59,035 | +294% |
| Financial income | 75/76B | €4,800 | €0 | -€4,800 | -100% |
| Recurring financial income | 75 | €4,800 | €0 | -€4,800 | -100% |
| Financial charges | 65/66B | €3,465 | €5,661 | +€2,197 | +63.4% |
| Recurring financial charges | 65 | €3,465 | €5,661 | +€2,197 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €21,422 | €73,460 | +€52,038 | +243% |
| Income taxes | 67/77 | €4,878 | €19,024 | +€14,146 | +290% |
| Profit (loss) for the period | 9904 | €16,544 | €54,436 | +€37,892 | +229% |
| Profit (loss) for the period to be appropriated | 9905 | €16,544 | €54,436 | +€37,892 | +229% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.