G&V: 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.
G&V
Largest movements
- Cash +€78,269
up €78,269 (+116.3%), from €67,294 to €145,563
mainly Net result for the year (+€79,239) and Tax, wage and social debts (+€13,995)
- Reserves +€79,239
up €79,239 (+185.1%), from €42,800 to €122,040
- Tax, wage and social debts +€13,995
up €13,995 (+53.1%), from €26,334 to €40,329
of which Taxes: +€9,531
- Other debts -€13,846
down €13,846 (-43.3%), from €31,948 to €18,102
- Gross operating margin +€45,450
up €45,450 (+82.0%), from €55,417 to €100,867
- Taxes +€9,689
up €9,689 (+87.3%), from €11,099 to €20,788
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 | €102,076 | €181,863 | +€79,787 | +78.2% |
| Formation expenses | 20 | €297 | €0 | -€297 | -100.0% |
| Current assets | 29/58 | €101,779 | €181,863 | +€80,084 | +78.7% |
| Amounts receivable within one year | 40/41 | €34,485 | €36,300 | +€1,815 | +5.3% |
| Trade receivables | 40 | €34,485 | €36,300 | +€1,815 | +5.3% |
| Cash at bank and in hand | 54/58 | €67,294 | €145,563 | +€78,269 | +116.3% |
| Total equity and liabilities | 10/49 | €102,076 | €181,863 | +€79,787 | +78.2% |
| Equity | 10/15 | €42,920 | €122,160 | +€79,239 | +184.6% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Reserves | 13 | €42,800 | €122,040 | +€79,239 | +185.1% |
| Distributable reserves | 133 | €42,800 | €122,040 | +€79,239 | +185.1% |
| Amounts payable | 17/49 | €59,156 | €59,703 | +€548 | +0.9% |
| Amounts payable within one year | 42/48 | €59,156 | €59,703 | +€548 | +0.9% |
| Trade debts | 44 | €873 | €1,272 | +€398 | +45.6% |
| Suppliers | 440/4 | €873 | €1,272 | +€398 | +45.6% |
| Taxes, remuneration and social security | 45 | €26,334 | €40,329 | +€13,995 | +53.1% |
| Taxes | 450/3 | €25,655 | €35,186 | +€9,531 | +37.2% |
| Remuneration and social security | 454/9 | €679 | €5,142 | +€4,464 | +657.9% |
| Other amounts payable | 47/48 | €31,948 | €18,102 | -€13,846 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €909 | €297 | -€611 | -67.3% |
| Other operating charges | 640/8 | €559 | €467 | -€92 | -16.4% |
| Gross operating margin | 9900 | €55,417 | €100,867 | +€45,450 | +82.0% |
| Operating profit (loss) | 9901 | €53,950 | €100,102 | +€46,153 | +85.5% |
| Financial charges | 65/66B | €50 | €75 | +€25 | +50.0% |
| Recurring financial charges | 65 | €50 | €75 | +€25 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €53,900 | €100,027 | +€46,128 | +85.6% |
| Income taxes | 67/77 | €11,099 | €20,788 | +€9,689 | +87.3% |
| Profit (loss) for the period | 9904 | €42,800 | €79,239 | +€36,439 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,800 | €79,239 | +€36,439 | +85.1% |
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 5 October 2026 via checked.be.