VICTUM: what changed
What changed
VICTUM
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€345,251
2024 · €319,239+€26,012
Equity
€1.6m
2024 · €1.3m+€297,487
Cash
€581,687
2024 · €389,220+€192,467
Balance sheet total
€2.4m
2024 · €1.7m+€692,242
Largest movements
Assets
- Tangible fixed assets +€446,135
up €446,135 (+216%), from €206,308 to €652,443
of which Furniture and vehicles: +€454,940
- Cash +€192,467
up €192,467 (+49.4%), from €389,220 to €581,687
mainly Net result for the year (+€345,251) and Debts after one year (+€286,858)
- Stocks and contracts +€43,984
up €43,984 (+24.5%), from €179,692 to €223,676
Equity and liabilities
- Reserves +€297,487
up €297,487 (+23.6%), from €1.3m to €1.6m
- Debts after one year +€286,858
up €286,858 (+262%), from €109,410 to €396,269
- Trade debts +€74,658
up €74,658 (+29.6%), from €252,399 to €327,057
- Current portion of long-term debt +€31,131
up €31,131 (+136%), from €22,865 to €53,996
Income statement
- Gross operating margin +€35,068
up €35,068 (+6.6%), from €530,129 to €565,197
- Depreciation +€10,878
up €10,878 (+27.5%), from €39,603 to €50,480
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
€319,239
Gross operating margin
+€35,068
Staff costs
-€218
Depreciation
-€10,878
Other operating charges
+€2,298
Financial income
+€44
Financial charges
-€3,625
Taxes
+€3,324
Result 2025
€345,251
raises the resultlowers the result
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
+€416,636
Investment
-€494,395
Financing
+€270,226
Cash 2024
€389,220
From operations (derived)
+€416,636
Net result for the year
+€345,251
Depreciation
+€50,480
Stocks and contracts
-€43,984
Receivables within one year
-€9,926
Deferred charges and accrued income
-€1,951
Trade debts
+€74,658
Tax, wage and social debts
+€1,702
Other debts
+€406
Investment (derived)
-€494,395
Investment in fixed assets (net)
-€494,395
Financing
+€270,226
Debts after one year
+€286,858
Current portion of long-term debt
+€31,131
Contributions, distributions and other
-€47,764
Cash 2025
€581,687
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,663,412 | €2,355,654 | +€692,242 | +41.6% |
| Fixed assets | 21/28 | €213,704 | €657,619 | +€443,915 | +208% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €206,308 | €652,443 | +€446,135 | +216% |
| Land and buildings | 22 | €167,509 | €159,356 | -€8,153 | -4.9% |
| Plant, machinery and equipment | 23 | €10,240 | €26,492 | +€16,252 | +159% |
| Furniture and vehicles | 24 | €8,562 | €463,502 | +€454,940 | +5,313% |
| Leasing and similar rights | 25 | €19,997 | €3,092 | -€16,905 | -84.5% |
| Financial fixed assets | 28 | €7,395 | €5,175 | -€2,220 | -30.0% |
| Current assets | 29/58 | €1,449,708 | €1,698,036 | +€248,328 | +17.1% |
| Stocks and contracts in progress | 3 | €179,692 | €223,676 | +€43,984 | +24.5% |
| Stocks | 30/36 | €179,692 | €223,676 | +€43,984 | +24.5% |
| Amounts receivable within one year | 40/41 | €876,352 | €886,278 | +€9,926 | +1.1% |
| Trade receivables | 40 | €743,790 | €682,678 | -€61,112 | -8.2% |
| Other amounts receivable | 41 | €132,563 | €203,601 | +€71,038 | +53.6% |
| Cash at bank and in hand | 54/58 | €389,220 | €581,687 | +€192,467 | +49.4% |
| Deferred charges and accrued income | 490/1 | €4,444 | €6,395 | +€1,951 | +43.9% |
| Total equity and liabilities | 10/49 | €1,663,412 | €2,355,654 | +€692,242 | +41.6% |
| Equity | 10/15 | €1,271,709 | €1,569,196 | +€297,487 | +23.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,259,309 | €1,556,796 | +€297,487 | +23.6% |
| Distributable reserves | 133 | €1,259,309 | €1,556,796 | +€297,487 | +23.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €391,703 | €786,458 | +€394,755 | +101% |
| Amounts payable after more than one year | 17 | €109,410 | €396,269 | +€286,858 | +262% |
| Financial debts | 170/4 | €109,410 | €396,269 | +€286,858 | +262% |
| Amounts payable within one year | 42/48 | €282,293 | €390,189 | +€107,897 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €22,865 | €53,996 | +€31,131 | +136% |
| Trade debts | 44 | €252,399 | €327,057 | +€74,658 | +29.6% |
| Suppliers | 440/4 | €252,399 | €327,057 | +€74,658 | +29.6% |
| Taxes, remuneration and social security | 45 | €1,474 | €3,177 | +€1,702 | +115% |
| Taxes | 450/3 | €190 | €500 | +€310 | +164% |
| Remuneration and social security | 454/9 | €1,285 | €2,677 | +€1,392 | +108% |
| Other amounts payable | 47/48 | €5,554 | €5,960 | +€406 | +7.3% |
| Remuneration, social security and pensions | 62 | €19,318 | €19,535 | +€218 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,603 | €50,480 | +€10,878 | +27.5% |
| Other operating charges | 640/8 | €6,219 | €3,921 | -€2,298 | -36.9% |
| Gross operating margin | 9900 | €530,129 | €565,197 | +€35,068 | +6.6% |
| Operating profit (loss) | 9901 | €464,990 | €491,260 | +€26,270 | +5.6% |
| Financial income | 75/76B | €140 | €184 | +€44 | +31.1% |
| Recurring financial income | 75 | €140 | €184 | +€44 | +31.1% |
| Financial charges | 65/66B | €2,676 | €6,301 | +€3,625 | +135% |
| Recurring financial charges | 65 | €2,676 | €6,301 | +€3,625 | +135% |
| Profit (loss) for the period before taxes | 9903 | €462,454 | €485,143 | +€22,689 | +4.9% |
| Income taxes | 67/77 | €143,216 | €139,892 | -€3,324 | -2.3% |
| Profit (loss) for the period | 9904 | €319,239 | €345,251 | +€26,012 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €319,239 | €345,251 | +€26,012 | +8.1% |
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.