Fin&Serv GVD: 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.
Fin&Serv GVD
Largest movements
- Tangible fixed assets +€102,352
up €102,352 (+2129.5%), from €4,806 to €107,158
of which Furniture and vehicles: +€102,484
- Financial fixed assets +€15,000
new in 2025: €15,000
- Intangible fixed assets -€6,125
down €6,125 (-13.0%), from €47,037 to €40,912
- Cash -€2,589
down €2,589 (-18.1%), from €14,307 to €11,718
mainly Investment in fixed assets (net) (-€120,000) and Trade debts (-€1,803)
- Debts after one year +€59,511
up €59,511 (+131.7%), from €45,177 to €104,688
- Other debts +€20,780
new in 2025: €20,780
- Current portion of long-term debt +€17,600
up €17,600 (+237.2%), from €7,421 to €25,021
- Reserves +€9,231
up €9,231 (+162.8%), from €5,669 to €14,900
- Tax, wage and social debts +€3,481
up €3,481 (+322.2%), from €1,081 to €4,562
of which Taxes: +€3,464
- Gross operating margin +€26,986
up €26,986 (+117.4%), from €22,983 to €49,968
- Staff costs +€16,342
up €16,342 (+158.8%), from €10,292 to €26,634
- Depreciation +€6,585
up €6,585 (+300.9%), from €2,189 to €8,773
- Taxes +€1,709
up €1,709 (+120.5%), from €1,418 to €3,127
- Other operating charges -€1,647
down €1,647 (-87.3%), from €1,887 to €240
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 | €66,150 | €174,951 | +€108,800 | +164.5% |
| Fixed assets | 21/28 | €51,843 | €163,070 | +€111,227 | +214.5% |
| Intangible fixed assets | 21 | €47,037 | €40,912 | -€6,125 | -13.0% |
| Tangible fixed assets | 22/27 | €4,806 | €107,158 | +€102,352 | +2129.5% |
| Furniture and vehicles | 24 | €2,199 | €104,683 | +€102,484 | +4660.2% |
| Other tangible fixed assets | 26 | €2,607 | €2,475 | -€132 | -5.1% |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €14,307 | €11,881 | -€2,426 | -17.0% |
| Amounts receivable within one year | 40/41 | - | €0 | = | |
| Trade receivables | 40 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €14,307 | €11,718 | -€2,589 | -18.1% |
| Deferred charges and accrued income | 490/1 | - | €163 | +€163 | |
| Total equity and liabilities | 10/49 | €66,150 | €174,951 | +€108,800 | +164.5% |
| Equity | 10/15 | €10,669 | €19,900 | +€9,231 | +86.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,669 | €14,900 | +€9,231 | +162.8% |
| Distributable reserves | 133 | €5,669 | €14,900 | +€9,231 | +162.8% |
| Amounts payable | 17/49 | €55,481 | €155,051 | +€99,569 | +179.5% |
| Amounts payable after more than one year | 17 | €45,177 | €104,688 | +€59,511 | +131.7% |
| Financial debts | 170/4 | €45,177 | €104,688 | +€59,511 | +131.7% |
| Amounts payable within one year | 42/48 | €10,305 | €50,363 | +€40,058 | +388.7% |
| Current portion of amounts payable after more than one year | 42 | €7,421 | €25,021 | +€17,600 | +237.2% |
| Trade debts | 44 | €1,803 | €0 | -€1,803 | -100.0% |
| Suppliers | 440/4 | €1,803 | €0 | -€1,803 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,081 | €4,562 | +€3,481 | +322.2% |
| Taxes | 450/3 | €1,081 | €4,545 | +€3,464 | +320.6% |
| Remuneration and social security | 454/9 | - | €17 | +€17 | |
| Other amounts payable | 47/48 | - | €20,780 | +€20,780 | |
| Remuneration, social security and pensions | 62 | €10,292 | €26,634 | +€16,342 | +158.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,189 | €8,773 | +€6,585 | +300.9% |
| Other operating charges | 640/8 | €1,887 | €240 | -€1,647 | -87.3% |
| Gross operating margin | 9900 | €22,983 | €49,968 | +€26,986 | +117.4% |
| Operating profit (loss) | 9901 | €8,614 | €14,321 | +€5,707 | +66.2% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €1,528 | €1,975 | +€447 | +29.3% |
| Recurring financial charges | 65 | €1,528 | €1,975 | +€447 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €7,086 | €12,358 | +€5,272 | +74.4% |
| Income taxes | 67/77 | €1,418 | €3,127 | +€1,709 | +120.5% |
| Profit (loss) for the period | 9904 | €5,669 | €9,231 | +€3,563 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,669 | €9,231 | +€3,563 | +62.8% |
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 6 October 2026 via checked.be.