G.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.V.
Largest movements
- Stocks and contracts +€325,904
up €325,904 (+58.7%), from €554,844 to €880,748
- Receivables within one year -€60,756
down €60,756 (-39.1%), from €155,401 to €94,645
of which Other amounts receivable: -€86,639
- Tangible fixed assets -€20,690
down €20,690 (-23.8%), from €87,073 to €66,384
of which Land and buildings: -€15,014
- Debts after one year +€400,000
new in 2024: €400,000
- Other debts -€299,737
down €299,737 (-83.0%), from €360,944 to €61,207
- Tax, wage and social debts +€246,240
up €246,240 (+889.4%), from €27,686 to €273,926
of which Remuneration and social security: +€153,507
- Reserves -€200,635
down €200,635 (-96.6%), from €207,736 to €7,101
of which Distributable reserves: -€200,635
- Trade debts +€95,998
up €95,998 (+41.3%), from €232,473 to €328,472
- Gross operating margin -€1.2m
down €1.2m (-78.5%), from €1.5m to €325,078
- Staff costs +€169,983
up €169,983 (+56.0%), from €303,515 to €473,498
- Depreciation +€25,996
up €25,996 (+10029.4%), from €259 to €26,255
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €854,665 | €1,096,198 | +€241,533 | +28.3% |
| Fixed assets | 21/28 | €137,343 | €112,937 | -€24,406 | -17.8% |
| Intangible fixed assets | 21 | €50,000 | €46,419 | -€3,581 | -7.2% |
| Tangible fixed assets | 22/27 | €87,073 | €66,384 | -€20,690 | -23.8% |
| Land and buildings | 22 | €71,179 | €56,165 | -€15,014 | -21.1% |
| Plant, machinery and equipment | 23 | €447 | €240 | -€207 | -46.3% |
| Furniture and vehicles | 24 | €15,448 | €9,978 | -€5,469 | -35.4% |
| Financial fixed assets | 28 | €270 | €135 | -€135 | -50.0% |
| Current assets | 29/58 | €717,322 | €983,261 | +€265,939 | +37.1% |
| Stocks and contracts in progress | 3 | €554,844 | €880,748 | +€325,904 | +58.7% |
| Stocks | 30/36 | €554,844 | €880,748 | +€325,904 | +58.7% |
| Amounts receivable within one year | 40/41 | €155,401 | €94,645 | -€60,756 | -39.1% |
| Trade receivables | 40 | €68,762 | €94,645 | +€25,883 | +37.6% |
| Other amounts receivable | 41 | €86,639 | - | -€86,639 | |
| Cash at bank and in hand | 54/58 | €4,338 | €4,845 | +€507 | +11.7% |
| Deferred charges and accrued income | 490/1 | €2,738 | €3,022 | +€284 | +10.4% |
| Total equity and liabilities | 10/49 | €854,665 | €1,096,198 | +€241,533 | +28.3% |
| Equity | 10/15 | €226,336 | €25,701 | -€200,635 | -88.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €207,736 | €7,101 | -€200,635 | -96.6% |
| 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 | €205,876 | €5,241 | -€200,635 | -97.5% |
| Amounts payable | 17/49 | €628,329 | €1,070,496 | +€442,167 | +70.4% |
| Amounts payable after more than one year | 17 | - | €400,000 | +€400,000 | |
| Financial debts | 170/4 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €628,329 | €670,496 | +€42,167 | +6.7% |
| Trade debts | 44 | €232,473 | €328,472 | +€95,998 | +41.3% |
| Suppliers | 440/4 | €232,473 | €328,472 | +€95,998 | +41.3% |
| Advances received on contracts in progress | 46 | €7,225 | €6,891 | -€334 | -4.6% |
| Taxes, remuneration and social security | 45 | €27,686 | €273,926 | +€246,240 | +889.4% |
| Taxes | 450/3 | - | €92,733 | +€92,733 | |
| Remuneration and social security | 454/9 | €27,686 | €181,194 | +€153,507 | +554.5% |
| Other amounts payable | 47/48 | €360,944 | €61,207 | -€299,737 | -83.0% |
| Remuneration, social security and pensions | 62 | €303,515 | €473,498 | +€169,983 | +56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259 | €26,255 | +€25,996 | +10029.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,200 | +€1,200 | |
| Other operating charges | 640/8 | €5,938 | €12,789 | +€6,851 | +115.4% |
| Gross operating margin | 9900 | €1,513,856 | €325,078 | -€1.2m | -78.5% |
| Operating profit (loss) | 9901 | €1,204,143 | -€188,665 | -€1.4m | |
| Financial income | 75/76B | €58 | €1,915 | +€1,858 | +3224.2% |
| Recurring financial income | 75 | €58 | €1,915 | +€1,858 | +3224.2% |
| Financial charges | 65/66B | €2,415 | €13,885 | +€11,470 | +474.9% |
| Recurring financial charges | 65 | €2,415 | €13,885 | +€11,470 | +474.9% |
| Profit (loss) for the period before taxes | 9903 | €1,201,786 | -€200,635 | -€1.4m | |
| Profit (loss) for the period | 9904 | €1,201,786 | -€200,635 | -€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,201,786 | -€200,635 | -€1.4m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.