VICTRO: what changed
Two fiscal 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.
What changed
VICTRO
NACE 43.211, General electrical installation work
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€53,731
2023 · €292,613-€238,881
Equity
€561,150
2023 · €507,419+€53,731
Cash
€26,710
2023 · €17,759+€8,951
Balance sheet total
€1.7m
2023 · €1.5m+€181,756
Largest movements
Assets
- Receivables within one year +€198,943
up €198,943 (+87.3%), from €227,757 to €426,701
of which Other amounts receivable: +€145,930
Equity and liabilities
- Trade debts +€87,085
up €87,085 (+28.0%), from €310,567 to €397,652
- Reserves +€53,731
up €53,731 (+11.2%), from €481,808 to €535,540
of which Distributable reserves: +€53,731
- Debts after one year +€21,878
up €21,878 (+6.5%), from €338,748 to €360,626
- Tax, wage and social debts +€18,959
up €18,959 (+41.3%), from €45,884 to €64,843
of which Remuneration and social security: +€14,622
Income statement
- Gross operating margin -€238,632
down €238,632 (-37.2%), from €642,090 to €403,457
- Staff costs +€50,283
up €50,283 (+33.3%), from €151,156 to €201,440
- Taxes +€19,558
up €19,558 (+239.2%), from €8,175 to €27,733
- Financial charges +€10,972
up €10,972 (+56.4%), from €19,467 to €30,439
- Other operating charges +€10,621
up €10,621 (+22.0%), from €48,279 to €58,901
From the 2023 result to the 2024 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.
Result 2023
€292,613
Gross operating margin
-€238,632
Staff costs
-€50,283
Depreciation
-€9,391
Other operating charges
-€10,621
Financial income
+€5,495
Financial charges
-€10,972
Taxes
-€19,558
Deferred taxes and other
+€95,081
Result 2024
€53,731
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€28,474
Investment
-€43,078
Financing
+€23,555
Cash 2023
€17,759
From operations (derived)
+€28,474
Net result for the year
+€53,731
Depreciation
+€54,067
Stocks and contracts
+€394
Receivables within one year
-€198,943
Deferred charges and accrued income
+€14,755
Trade debts
+€87,085
Tax, wage and social debts
+€18,959
Advances received
-€5,977
Other debts
+€2,286
Accrued charges and deferred income
+€2,117
Investment (derived)
-€43,078
Investment in fixed assets (net)
-€43,078
Financing
+€23,555
Debts after one year
+€21,878
Current portion of long-term debt
+€1,677
Cash 2024
€26,710
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,472,635 | €1,654,392 | +€181,756 | +12.3% |
| Fixed assets | 21/28 | €805,593 | €794,604 | -€10,989 | -1.4% |
| Intangible fixed assets | 21 | €39,213 | €29,410 | -€9,803 | -25.0% |
| Tangible fixed assets | 22/27 | €766,330 | €765,144 | -€1,185 | -0.2% |
| Land and buildings | 22 | €708,851 | €721,363 | +€12,513 | +1.8% |
| Plant, machinery and equipment | 23 | €3,233 | €1,023 | -€2,210 | -68.3% |
| Furniture and vehicles | 24 | €54,246 | €42,758 | -€11,489 | -21.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €667,043 | €859,788 | +€192,745 | +28.9% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,639 | €6,244 | -€394 | -5.9% |
| Stocks | 30/36 | €6,639 | €6,244 | -€394 | -5.9% |
| Amounts receivable within one year | 40/41 | €227,757 | €426,701 | +€198,943 | +87.3% |
| Trade receivables | 40 | €86,548 | €139,561 | +€53,013 | +61.3% |
| Other amounts receivable | 41 | €141,210 | €287,140 | +€145,930 | +103.3% |
| Cash at bank and in hand | 54/58 | €17,759 | €26,710 | +€8,951 | +50.4% |
| Deferred charges and accrued income | 490/1 | €14,887 | €132 | -€14,755 | -99.1% |
| Total equity and liabilities | 10/49 | €1,472,635 | €1,654,392 | +€181,756 | +12.3% |
| Equity | 10/15 | €507,419 | €561,150 | +€53,731 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €481,808 | €535,540 | +€53,731 | +11.2% |
| Non-distributable reserves | 130/1 | €2,457 | €2,457 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,457 | €2,457 | = | 0.0% |
| Tax-exempt reserves | 132 | €285,242 | €285,242 | = | 0.0% |
| Distributable reserves | 133 | €194,110 | €247,841 | +€53,731 | +27.7% |
| Profit (loss) carried forward | 14 | €7,011 | €7,011 | = | 0.0% |
| Provisions and deferred taxes | 16 | €95,081 | €95,081 | = | 0.0% |
| Deferred taxes | 168 | €95,081 | €95,081 | = | 0.0% |
| Amounts payable | 17/49 | €870,136 | €998,161 | +€128,025 | +14.7% |
| Amounts payable after more than one year | 17 | €338,748 | €360,626 | +€21,878 | +6.5% |
| Financial debts | 170/4 | €338,748 | €360,626 | +€21,878 | +6.5% |
| Amounts payable within one year | 42/48 | €531,388 | €635,418 | +€104,030 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €34,975 | €36,651 | +€1,677 | +4.8% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €310,567 | €397,652 | +€87,085 | +28.0% |
| Suppliers | 440/4 | €310,567 | €397,652 | +€87,085 | +28.0% |
| Advances received on contracts in progress | 46 | €39,334 | €33,357 | -€5,977 | -15.2% |
| Taxes, remuneration and social security | 45 | €45,884 | €64,843 | +€18,959 | +41.3% |
| Taxes | 450/3 | €18,681 | €23,018 | +€4,337 | +23.2% |
| Remuneration and social security | 454/9 | €27,203 | €41,825 | +€14,622 | +53.7% |
| Other amounts payable | 47/48 | €629 | €2,915 | +€2,286 | +363.5% |
| Accrued charges and deferred income | 492/3 | - | €2,117 | +€2,117 | |
| Non-recurring operating income | 76A | €380,322 | - | -€380,322 | |
| Remuneration, social security and pensions | 62 | €151,156 | €201,440 | +€50,283 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,676 | €54,067 | +€9,391 | +21.0% |
| Other operating charges | 640/8 | €48,279 | €58,901 | +€10,621 | +22.0% |
| Gross operating margin | 9900 | €642,090 | €403,457 | -€238,632 | -37.2% |
| Operating profit (loss) | 9901 | €397,978 | €89,050 | -€308,928 | -77.6% |
| Financial income | 75/76B | €17,357 | €22,853 | +€5,495 | +31.7% |
| Recurring financial income | 75 | €17,357 | €22,853 | +€5,495 | +31.7% |
| Financial charges | 65/66B | €19,467 | €30,439 | +€10,972 | +56.4% |
| Recurring financial charges | 65 | €19,467 | €30,439 | +€10,972 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €395,868 | €81,464 | -€314,404 | -79.4% |
| Transfer to deferred taxes | 680 | €95,081 | - | -€95,081 | |
| Income taxes | 67/77 | €8,175 | €27,733 | +€19,558 | +239.2% |
| Profit (loss) for the period | 9904 | €292,613 | €53,731 | -€238,881 | -81.6% |
| Transfer to tax-exempt reserves | 689 | €285,242 | - | -€285,242 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,371 | €53,731 | +€46,360 | +629.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.