G.D.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.D.V.
Largest movements
- Cash +€3,648
up €3,648 (+7.2%), from €50,382 to €54,030
mainly Depreciation (+€4,988) and Net result for the year (+€4,928)
- Receivables within one year +€1,704
new in 2025: €1,704
- Reserves +€4,928
up €4,928 (+7.2%), from €68,904 to €73,832
of which Distributable reserves: +€4,928
- Gross operating margin -€4,026
down €4,026 (-20.0%), from €20,175 to €16,149
- Taxes -€1,603
down €1,603 (-41.1%), from €3,899 to €2,296
- Other operating charges +€695
up €695 (+22.6%), from €3,071 to €3,766
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 | €88,896 | €93,917 | +€5,021 | +5.6% |
| Fixed assets | 21/28 | €37,395 | €37,010 | -€385 | -1.0% |
| Tangible fixed assets | 22/27 | €37,395 | €37,010 | -€385 | -1.0% |
| Land and buildings | 22 | €32,340 | €32,369 | +€29 | +0.1% |
| Other tangible fixed assets | 26 | €5,055 | €4,640 | -€415 | -8.2% |
| Current assets | 29/58 | €51,501 | €56,907 | +€5,406 | +10.5% |
| Amounts receivable within one year | 40/41 | - | €1,704 | +€1,704 | |
| Other amounts receivable | 41 | - | €1,704 | +€1,704 | |
| Cash at bank and in hand | 54/58 | €50,382 | €54,030 | +€3,648 | +7.2% |
| Deferred charges and accrued income | 490/1 | €1,119 | €1,173 | +€54 | +4.8% |
| Total equity and liabilities | 10/49 | €88,896 | €93,917 | +€5,021 | +5.6% |
| Equity | 10/15 | €87,504 | €92,432 | +€4,928 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,904 | €73,832 | +€4,928 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €67,044 | €71,972 | +€4,928 | +7.4% |
| Amounts payable | 17/49 | €1,392 | €1,485 | +€93 | +6.7% |
| Amounts payable within one year | 42/48 | €1,392 | €1,485 | +€93 | +6.7% |
| Trade debts | 44 | €723 | €1,214 | +€491 | +67.9% |
| Suppliers | 440/4 | €723 | €1,214 | +€491 | +67.9% |
| Taxes, remuneration and social security | 45 | €398 | - | -€398 | |
| Taxes | 450/3 | €398 | - | -€398 | |
| Other amounts payable | 47/48 | €271 | €271 | +€0 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,825 | €4,988 | +€163 | +3.4% |
| Other operating charges | 640/8 | €3,071 | €3,766 | +€695 | +22.6% |
| Gross operating margin | 9900 | €20,175 | €16,149 | -€4,026 | -20.0% |
| Operating profit (loss) | 9901 | €12,279 | €7,395 | -€4,884 | -39.8% |
| Financial income | 75/76B | €125 | - | -€125 | |
| Recurring financial income | 75 | €125 | - | -€125 | |
| Financial charges | 65/66B | €153 | €170 | +€17 | +11.3% |
| Recurring financial charges | 65 | €153 | €170 | +€17 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €12,251 | €7,224 | -€5,027 | -41.0% |
| Income taxes | 67/77 | €3,899 | €2,296 | -€1,603 | -41.1% |
| Profit (loss) for the period | 9904 | €8,352 | €4,928 | -€3,424 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,352 | €4,928 | -€3,424 | -41.0% |
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 14 October 2026 via checked.be.