G.V.E.
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-03-2026 PDF all 21 filings
Turnover
≈ €75,000
Estimated: probably between €44,000 and €150,000
Total assets
€5,490▼ 16.6%
2024 · €6,581
Net result
€4,666▼ 41.0%
2024 · €7,903
Working capital
-€8,914▲ 34.4%
2024 · -€13,580
Multi-year overview
2019 to 2025, 6 financial yearsOperating result
€4,991
▼ 45.7%
2025
20192025
Net result
€4,666
▼ 41.0%
2025
middle half of the sector
20192025
Equity
-€5,804
▲ 44.6%
2025
lowest quarter of the sector
20192025
Total assets
€5,490
▼ 16.6%
2025
lowest quarter of the sector
20192025
Debt
€11,294
▼ 33.8%
2025
20192025
Working capital
-€8,914
▲ 34.4%
2025
lowest quarter of the sector
20192025
Solvency
-105.7%
▲ 53.4pp
2025
lowest quarter of the sector
20192025
Current ratio
0.21
▲ 0.01
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
85.0%
▼ 35.1pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920212022202320242025
Operating result€8,329-€1,723-€9,462▲ 449%-€5,789€9,183€4,991▼ 45.7%
Net result-€642-€7,497within the sector's middle half-€8,834within the sector's middle half▲ 17.8%-€6,284below the sector's middle half€7,903within the sector's middle half€4,666within the sector's middle half▼ 41.0%
Equity€1,482--€20,923below the sector's middle half--€12,089below the sector's middle half▲ 42.2%-€18,373below the sector's middle half▼ 52.0%-€10,470below the sector's middle half▲ 43.0%-€5,804below the sector's middle half▲ 44.6%
Total assets€8,480-€9,063below the sector's middle half-€6,995below the sector's middle half▼ 22.8%€5,125below the sector's middle half▼ 26.7%€6,581below the sector's middle half▲ 28.4%€5,490below the sector's middle half▼ 16.6%
Debt€6,998-€29,986-€19,084▼ 36.4%€23,498▲ 23.1%€17,051▼ 27.4%€11,294▼ 33.8%
Working capital-€1,628--€24,033below the sector's middle half--€16,747below the sector's middle half▲ 30.3%-€21,989below the sector's middle half▼ 31.3%-€13,580below the sector's middle half▲ 38.2%-€8,914below the sector's middle half▲ 34.4%
Solvency17.5%--230.9%below the sector's middle half--172.8%below the sector's middle half▲ 58.1pp-358.5%below the sector's middle half▼ 185.7pp-159.1%below the sector's middle half▲ 199.4pp-105.7%below the sector's middle half▲ 53.4pp
Current ratio0.77-0.20below the sector's middle half-0.12below the sector's middle half▼ 0.080.06below the sector's middle half▼ 0.060.20below the sector's middle half▲ 0.140.21below the sector's middle half▲ 0.01
Return on assets (ROA)-7.6%-82.7%above the sector's middle half-126.3%above the sector's middle half▲ 43.6pp-122.6%below the sector's middle half▼ 248.9pp120.1%above the sector's middle half▲ 242.7pp85.0%above the sector's middle half▼ 35.1pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 46% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5,490
Fixed assets
€3,110 =
Current assets
€2,380 ▼ 31.4%
Equity and liabilities
Equity-€5,804
Debt€11,294
Equity is negative. Debt (€11,294) exceeds the balance-sheet total (€5,490).
Key figures and ratios
Debt ≤ 1 year
€11,294▼
2024 · €17,051
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,085 | - | - | - |
| Depreciation and write-downs of the year | - | €537 | €1,043 | €506 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €537 | €1,043 | €506 | - | - |
| Other operating charges640/8 | - | €2,948 | €1,940 | €3,114 | €792 | €2,487 | ▲ 214% |
| Gross operating margin9900 | €8,989 | €4,671 | €11,939 | -€1,632 | €10,481 | €7,477 | ▼ 28.7% |
| Operating profit (loss)9901 | €8,329 | €1,723 | €9,462 | -€5,789 | €9,183 | €4,991 | ▼ 45.7% |
| Financial income75/76B | - | €583 | - | - | - | €16 | - |
| Recurring financial income75 | - | €583 | - | - | - | €16 | - |
| Financial charges65/66B | - | €1,457 | €627 | €496 | €1,110 | €340 | ▼ 69.3% |
| Recurring financial charges65 | €1,787 | €1,457 | €627 | €496 | €1,110 | €340 | ▼ 69.3% |
| Profit (loss) for the period before taxes9903 | €6,542 | €848 | €8,834 | -€6,284 | €8,074 | €4,666 | ▼ 42.2% |
| Income taxes67/77 | €7,184 | -€6,648 | - | - | €171 | - | - |
| Profit (loss) for the period9904 | -€642 | €7,497 | €8,834 | -€6,284 | €7,903 | €4,666 | ▼ 41.0% |
| Profit (loss) for the period to be appropriated9905 | -€642 | €7,497 | €8,834 | -€6,284 | €7,903 | €4,666 | ▼ 41.0% |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €8,480 | €9,063 | €6,995 | €5,125 | €6,581 | €5,490 | ▼ 16.6% |
| Fixed assets21/28 | €3,110 | €3,110 | €4,658 | €3,616 | €3,110 | €3,110 | = |
| Tangible fixed assets22/27 | - | - | €1,548 | €506 | - | - | - |
| Furniture and vehicles24 | - | - | €1,548 | €506 | - | - | - |
| Financial fixed assets28 | €3,110 | €3,110 | €3,110 | €3,110 | €3,110 | €3,110 | = |
| Current assets29/58 | €5,370 | €5,953 | €2,337 | €1,509 | €3,471 | €2,380 | ▼ 31.4% |
| Amounts receivable within one year40/41 | €5,321 | €2,876 | €2,296 | €190 | €2,072 | €1,692 | ▼ 18.3% |
| Trade receivables40 | - | €1,929 | €1,770 | - | €217 | €411 | ▲ 89.3% |
| Other amounts receivable41 | - | €946 | €526 | €190 | €1,855 | €1,281 | ▼ 30.9% |
| Cash at bank and in hand54/58 | €49 | €2,559 | - | €1,274 | €1,351 | €639 | ▼ 52.7% |
| Deferred charges and accrued income490/1 | - | €518 | €42 | €45 | €48 | €49 | ▲ 3.1% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €8,480 | €9,063 | €6,995 | €5,125 | €6,581 | €5,490 | ▼ 16.6% |
| Equity10/15 | €1,482 | -€20,923 | -€12,089 | -€18,373 | -€10,470 | -€5,804 | ▲ 44.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | - | - | - | - | - |
| Issued capital100 | - | €18,600 | - | - | - | - | - |
| Contributions outside capital11 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13 | €13 | €13 | €13 | €13 | €13 | = |
| Non-distributable reserves130/1 | - | €13 | €13 | €13 | €13 | €13 | = |
| Legal reserve130 | - | €13 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €13 | €13 | €13 | €13 | = |
| Profit (loss) carried forward14 | -€17,131 | -€39,536 | -€30,702 | -€36,987 | -€29,084 | -€24,417 | ▲ 16.0% |
| Amounts payable17/49 | €6,998 | €29,986 | €19,084 | €23,498 | €17,051 | €11,294 | ▼ 33.8% |
| Amounts payable within one year42/48 | €6,998 | €29,986 | €19,084 | €23,498 | €17,051 | €11,294 | ▼ 33.8% |
| Financial debts43 | - | - | €109 | - | - | - | - |
| Credit institutions430/8 | - | - | €109 | - | - | - | - |
| Trade debts44 | €3,713 | €5,885 | €1,020 | €4,157 | - | €1,881 | - |
| Suppliers440/4 | - | €5,885 | €1,020 | €4,157 | - | €1,881 | - |
| Advances received on contracts in progress46 | - | - | - | €3,123 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €107 | €107 | €551 | €171 | ▼ 69.0% |
| Taxes450/3 | - | - | €107 | €107 | €551 | €171 | ▼ 69.0% |
| Other amounts payable47/48 | - | €24,100 | €17,848 | €16,111 | €16,500 | €9,243 | ▼ 44.0% |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€642 | €7,497 | €8,834 | -€6,284 | €7,903 | €4,666 | ▼ 41.0% |
| + Depreciation and write-downs630 | - | - | €537 | €1,043 | €506 | - | - |
| Operating cash flow (approximation) | -€642 | €7,497 | €9,371 | -€5,242 | €8,408 | €4,666 | ▼ 44.5% |
| Investment in fixed assets (approximation) | - | - | -€2,085 | €0 | €0 | €0 | - |
| Change in cash | - | - | - | - | €77 | -€712 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 18-03-2026 | 2026-00058242 | |
| 30-09-2024 | micro format | 28-08-2025 | 2025-00447239 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00084485 | |
| 30-09-2022 | micro format | 29-03-2023 | 2023-00054989 | |
| 30-09-2021 | micro format | 16-06-2022 | 2022-20071853 | |
| 30-09-2019 | micro format | 10-06-2020 | 2020-15800491 | |
| 30-09-2018 | micro format | 02-05-2019 | 2019-12400182 | |
| 30-09-2017 | micro format | 24-01-2019 | 2019-02300558 | |
| 30-09-2016 | abbreviated format | 17-03-2017 | 2017-06600249 | |
| 30-09-2015 | abbreviated format | 29-03-2016 | 2016-08100351 |