G.C.V.: 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.
G.C.V.
Largest movements
- Receivables within one year +€44,449
up €44,449 (+113%), from €39,361 to €83,810
of which Other amounts receivable: +€30,105
- Tangible fixed assets -€34,292
down €34,292 (-22.0%), from €155,557 to €121,264
of which Furniture and vehicles: -€30,687
- Stocks and contracts -€10,060
down €10,060 (-20.7%), from €48,627 to €38,568
of which Stocks: -€5,380
- Other debts +€105,809
up €105,809, from €0 to €105,809
- Reserves -€58,920
down €58,920 (-31.3%), from €188,011 to €129,091
of which Distributable reserves: -€58,920
- Debts after one year -€26,678
down €26,678 (-24.3%), from €109,585 to €82,907
- Trade debts -€13,881
down €13,881 (-23.8%), from €58,235 to €44,355
- Short-term financial debts +€11,563
up €11,563 (+32.4%), from €35,724 to €47,287
of which Credit institutions: +€22,019
- Staff costs -€42,242
down €42,242 (-42.2%), from €100,073 to €57,831
- Financial charges -€35,819
down €35,819 (-84.8%), from €42,223 to €6,404
of which Non-recurring financial charges: -€33,718
- Taxes +€25,686
up €25,686 (+819%), from €3,135 to €28,821
- Depreciation +€11,165
up €11,165 (+48.3%), from €23,127 to €34,292
- Other operating charges +€4,211
up €4,211 (+54.9%), from €7,664 to €11,875
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,268 | €459,948 | +€3,680 | +0.8% |
| Fixed assets | 21/28 | €155,557 | €121,264 | -€34,292 | -22.0% |
| Tangible fixed assets | 22/27 | €155,557 | €121,264 | -€34,292 | -22.0% |
| Land and buildings | 22 | €45,473 | €43,181 | -€2,292 | -5.0% |
| Plant, machinery and equipment | 23 | €4,162 | €2,849 | -€1,313 | -31.6% |
| Furniture and vehicles | 24 | €105,922 | €75,234 | -€30,687 | -29.0% |
| Current assets | 29/58 | €300,711 | €338,683 | +€37,972 | +12.6% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €48,627 | €38,568 | -€10,060 | -20.7% |
| Stocks | 30/36 | €23,021 | €17,641 | -€5,380 | -23.4% |
| Contracts in progress | 37 | €25,607 | €20,927 | -€4,679 | -18.3% |
| Amounts receivable within one year | 40/41 | €39,361 | €83,810 | +€44,449 | +113% |
| Trade receivables | 40 | €12,850 | €27,194 | +€14,344 | +112% |
| Other amounts receivable | 41 | €26,511 | €56,616 | +€30,105 | +114% |
| Deferred charges and accrued income | 490/1 | €12,722 | €16,305 | +€3,583 | +28.2% |
| Total equity and liabilities | 10/49 | €456,268 | €459,948 | +€3,680 | +0.8% |
| Equity | 10/15 | €206,611 | €147,691 | -€58,920 | -28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,011 | €129,091 | -€58,920 | -31.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €188,011 | €129,091 | -€58,920 | -31.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €249,657 | €312,257 | +€62,600 | +25.1% |
| Amounts payable after more than one year | 17 | €109,585 | €82,907 | -€26,678 | -24.3% |
| Financial debts | 170/4 | €109,585 | €82,907 | -€26,678 | -24.3% |
| Amounts payable within one year | 42/48 | €140,073 | €229,350 | +€89,278 | +63.7% |
| Current portion of amounts payable after more than one year | 42 | €33,978 | €27,345 | -€6,632 | -19.5% |
| Financial debts | 43 | €35,724 | €47,287 | +€11,563 | +32.4% |
| Credit institutions | 430/8 | €12,768 | €34,787 | +€22,019 | +172% |
| Other loans | 439 | €22,957 | €12,500 | -€10,457 | -45.5% |
| Trade debts | 44 | €58,235 | €44,355 | -€13,881 | -23.8% |
| Suppliers | 440/4 | €58,235 | €44,355 | -€13,881 | -23.8% |
| Advances received on contracts in progress | 46 | - | €628 | +€628 | |
| Taxes, remuneration and social security | 45 | €12,135 | €3,926 | -€8,209 | -67.6% |
| Taxes | 450/3 | €4,588 | €1,589 | -€2,999 | -65.4% |
| Remuneration and social security | 454/9 | €7,547 | €2,337 | -€5,210 | -69.0% |
| Other amounts payable | 47/48 | €0 | €105,809 | +€105,809 | |
| Non-recurring operating income | 76A | €1,057 | €0 | -€1,057 | -100% |
| Remuneration, social security and pensions | 62 | €100,073 | €57,831 | -€42,242 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,127 | €34,292 | +€11,165 | +48.3% |
| Other operating charges | 640/8 | €7,664 | €11,875 | +€4,211 | +54.9% |
| Non-recurring operating charges | 66A | €4,709 | €0 | -€4,709 | -100% |
| Gross operating margin | 9900 | €178,472 | €181,745 | +€3,273 | +1.8% |
| Operating profit (loss) | 9901 | €42,898 | €77,746 | +€34,848 | +81.2% |
| Financial income | 75/76B | €2,653 | €4,367 | +€1,714 | +64.6% |
| Recurring financial income | 75 | €2,653 | €4,367 | +€1,714 | +64.6% |
| Financial charges | 65/66B | €42,223 | €6,404 | -€35,819 | -84.8% |
| Recurring financial charges | 65 | €8,504 | €6,404 | -€2,101 | -24.7% |
| Non-recurring financial charges | 66B | €33,718 | €0 | -€33,718 | -100% |
| Profit (loss) for the period before taxes | 9903 | €3,328 | €75,710 | +€72,381 | +2,175% |
| Income taxes | 67/77 | €3,135 | €28,821 | +€25,686 | +819% |
| Profit (loss) for the period | 9904 | €193 | €46,889 | +€46,696 | +24,210% |
| Profit (loss) for the period to be appropriated | 9905 | €193 | €46,889 | +€46,696 | +24,210% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.