VIKTOR & SANDER: 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.
VIKTOR & SANDER
Largest movements
- Receivables within one year +€416
up €416 (+35.9%), from €1,157 to €1,573
of which Other amounts receivable: +€416
- Deferred charges and accrued income -€246
down €246 (-30.1%), from €817 to €571
- Cash +€227
up €227 (+10.4%), from €2,172 to €2,399
mainly Other debts (+€9,677) and Trade debts (+€967)
- Profit (loss) carried forward -€10,195
down €10,195 (-3.8%), from -€267,462 to -€277,658
- Other debts +€9,677
up €9,677 (+6.2%), from €155,997 to €165,674
- Trade debts +€967
up €967 (+85.3%), from €1,134 to €2,101
- Depreciation -€1,644
no longer reported in 2025 (was €1,644)
- Gross operating margin -€1,530
down €1,530 (-23.6%), from -€6,472 to -€8,002
- Financial charges +€1,303
up €1,303 (+880.0%), from €148 to €1,451
- Other operating charges -€491
down €491 (-39.8%), from €1,233 to €743
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.
Cash bridge derived
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 | €8,714 | €9,111 | +€396 | +4.5% |
| Current assets | 29/58 | €8,714 | €9,111 | +€396 | +4.5% |
| Stocks and contracts in progress | 3 | €4,568 | €4,568 | = | 0.0% |
| Stocks | 30/36 | €4,568 | €4,568 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,157 | €1,573 | +€416 | +35.9% |
| Trade receivables | 40 | €1,034 | €1,034 | = | 0.0% |
| Other amounts receivable | 41 | €124 | €539 | +€416 | +336.2% |
| Cash at bank and in hand | 54/58 | €2,172 | €2,399 | +€227 | +10.4% |
| Deferred charges and accrued income | 490/1 | €817 | €571 | -€246 | -30.1% |
| Total equity and liabilities | 10/49 | €8,714 | €9,111 | +€396 | +4.5% |
| Equity | 10/15 | -€158,808 | -€169,003 | -€10,195 | -6.4% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €15,054 | €15,054 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,194 | €13,194 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€267,462 | -€277,658 | -€10,195 | -3.8% |
| Amounts payable | 17/49 | €167,522 | €178,114 | +€10,592 | +6.3% |
| Amounts payable after more than one year | 17 | €3,650 | €3,650 | = | 0.0% |
| Financial debts | 170/4 | €3,650 | €3,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,872 | €174,464 | +€10,592 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €6,689 | €6,689 | = | 0.0% |
| Trade debts | 44 | €1,134 | €2,101 | +€967 | +85.3% |
| Suppliers | 440/4 | €1,134 | €2,101 | +€967 | +85.3% |
| Taxes, remuneration and social security | 45 | €53 | - | -€53 | |
| Taxes | 450/3 | €53 | - | -€53 | |
| Other amounts payable | 47/48 | €155,997 | €165,674 | +€9,677 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,644 | - | -€1,644 | |
| Other operating charges | 640/8 | €1,233 | €743 | -€491 | -39.8% |
| Gross operating margin | 9900 | -€6,472 | -€8,002 | -€1,530 | -23.6% |
| Operating profit (loss) | 9901 | -€9,349 | -€8,745 | +€605 | +6.5% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €148 | €1,451 | +€1,303 | +880.0% |
| Recurring financial charges | 65 | €148 | €1,451 | +€1,303 | +880.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,497 | -€10,195 | -€698 | -7.4% |
| Profit (loss) for the period | 9904 | -€9,497 | -€10,195 | -€698 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,497 | -€10,195 | -€698 | -7.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.