New accounts filed by Mr Crosbie’s Liberty Venues Ltd, which operates Vicar Street, show that its recorded operating profits compared with a figure of €1.43m in 2022.
However, after taking into account combined non-cash depreciation and amortisation costs of €809,918 in 2023, the company recorded a post-tax loss of €188,615.
That post-tax loss followed a post-tax profit of €724,950 in 2022 – a negative swing of €913,565.
Revenues were boosted last year by a string of Christy Moore shows in early 2023 and another sold-out run during November and December last year.
Other upcoming artists include the Hothouse Flowers, Johnny Logan, James Vincent McMorrow, Tommy Tiernan and Foil, Arms and Hog.
The venue is owned by Mr Crosbie and operated by one of the country’s most successful promoters, Peter Aiken, of Aiken Promotions.
Vicar Street, which has a seated capacity of 1,050 and standing capacity of 1,500, opened in 1998 and the venue was extended in 2002.
The accounts – signed off by Harry Crosbie and Rita Crosbie – show that the firm’s post-tax loss last year increased its accumulated losses from €1.57m to €1.76m.
Cash funds at the business last year reduced from €1.56m to €898,621.
Numbers employed by the venue last year reduced from 56 to 52.
Mr Crosbie has been responsible for three of the largest arts venues in Dublin, with the Point Theatre, now the 3Arena, and the Bord Gáis Energy Theatre.
The accounts show that the company’s main creditor last year changed from Garrison Earlsfort Investments to PTSB, which was owed €6.17m at the end of December.
During the same period, Harry Crosbie and Rita Crosbie each loaned €909,077 to the company and were owed those amounts at the end of last year.
Mr Crosbie unveiled plans last year for a new 2,000-seater music venue beside his Vicar Street venue in Thomas Street, Dublin. He envisages retaining the existing Vicar Street venue and upgrading it while creating a musical quarter with the 2,000 capacity venue.
He has plans for a 182-bedroom Vicar Street hotel before Dublin City Council.
The application is currently on hold as the firm prepares additional information for the council following local objections.