DV-GMS: what changed
Two financial 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.
DV-GMS
Largest movements
- Current investments +€86,182
up €86,182 (+34.5%), from €250,000 to €336,182
- Cash +€5,331
up €5,331 (+5.3%), from €100,392 to €105,723
mainly Other debts (+€297,915) and Net result for the year (+€187,138)
- Other debts +€297,915
new in 2025: €297,915
- Reserves -€205,453
down €205,453 (-61.4%), from €334,453 to €129,000
- Financial income +€8,796
up €8,796 (+24,750%), from €36 to €8,832
- Gross operating margin +€8,374
up €8,374 (+3.6%), from €234,371 to €242,745
- Financial charges +€3,821
up €3,821 (+413%), from €924 to €4,746
- Taxes +€3,368
up €3,368 (+6.1%), from €54,820 to €58,188
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.
Derived cash bridge
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 | €408,626 | €503,337 | +€94,711 | +23.2% |
| Fixed assets | 21/28 | €4,567 | €5,097 | +€530 | +11.6% |
| Tangible fixed assets | 22/27 | €4,567 | €5,097 | +€530 | +11.6% |
| Plant, machinery and equipment | 23 | €4,567 | €5,097 | +€530 | +11.6% |
| Current assets | 29/58 | €404,060 | €498,240 | +€94,181 | +23.3% |
| Amounts receivable within one year | 40/41 | €53,668 | €55,729 | +€2,061 | +3.8% |
| Trade receivables | 40 | €46,282 | €41,263 | -€5,020 | -10.8% |
| Other amounts receivable | 41 | €7,385 | €14,466 | +€7,081 | +95.9% |
| Current investments | 50/53 | €250,000 | €336,182 | +€86,182 | +34.5% |
| Cash at bank and in hand | 54/58 | €100,392 | €105,723 | +€5,331 | +5.3% |
| Deferred charges and accrued income | 490/1 | €0 | €606 | +€606 | |
| Total equity and liabilities | 10/49 | €408,626 | €503,337 | +€94,711 | +23.2% |
| Equity | 10/15 | €338,706 | €131,844 | -€206,862 | -61.1% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €334,453 | €129,000 | -€205,453 | -61.4% |
| Distributable reserves | 133 | €334,453 | €129,000 | -€205,453 | -61.4% |
| Profit (loss) carried forward | 14 | €1,854 | €444 | -€1,410 | -76.0% |
| Amounts payable | 17/49 | €69,920 | €371,493 | +€301,573 | +431% |
| Amounts payable within one year | 42/48 | €69,920 | €367,652 | +€297,732 | +426% |
| Trade debts | 44 | €1,660 | €1,041 | -€619 | -37.3% |
| Suppliers | 440/4 | €1,660 | €1,041 | -€619 | -37.3% |
| Taxes, remuneration and social security | 45 | €68,260 | €68,695 | +€435 | +0.6% |
| Taxes | 450/3 | €68,260 | €68,695 | +€435 | +0.6% |
| Other amounts payable | 47/48 | - | €297,915 | +€297,915 | |
| Accrued charges and deferred income | 492/3 | - | €3,841 | +€3,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21 | €703 | +€682 | +3,298% |
| Other operating charges | 640/8 | €287 | €803 | +€516 | +180% |
| Gross operating margin | 9900 | €234,371 | €242,745 | +€8,374 | +3.6% |
| Operating profit (loss) | 9901 | €234,063 | €241,240 | +€7,177 | +3.1% |
| Financial income | 75/76B | €36 | €8,832 | +€8,796 | +24,750% |
| Recurring financial income | 75 | €36 | €8,832 | +€8,796 | +24,750% |
| Financial charges | 65/66B | €924 | €4,746 | +€3,821 | +413% |
| Recurring financial charges | 65 | €924 | €4,746 | +€3,821 | +413% |
| Profit (loss) for the period before taxes | 9903 | €233,174 | €245,326 | +€12,152 | +5.2% |
| Income taxes | 67/77 | €54,820 | €58,188 | +€3,368 | +6.1% |
| Profit (loss) for the period | 9904 | €178,354 | €187,138 | +€8,784 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €178,354 | €187,138 | +€8,784 | +4.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.