G.V.E.: 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.E.
Largest movements
- Cash -€712
down €712 (-52.7%), from €1,351 to €639
mainly Other debts (-€7,257) and Tax, wage and social debts (-€381)
- Receivables within one year -€380
down €380 (-18.3%), from €2,072 to €1,692
of which Other amounts receivable: -€574
- Other debts -€7,257
down €7,257 (-44.0%), from €16,500 to €9,243
- Profit (loss) carried forward +€4,666
up €4,666 (+16.0%), from -€29,084 to -€24,417
- Trade debts +€1,881
new in 2025: €1,881
- Tax, wage and social debts -€381
down €381 (-69.0%), from €551 to €171
- Gross operating margin -€3,004
down €3,004 (-28.7%), from €10,481 to €7,477
- Other operating charges +€1,695
up €1,695 (+213.9%), from €792 to €2,487
- Financial charges -€769
down €769 (-69.3%), from €1,110 to €340
- Depreciation -€506
no longer reported in 2025 (was €506)
- Taxes -€171
no longer reported in 2025 (was €171)
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 | €6,581 | €5,490 | -€1,091 | -16.6% |
| Fixed assets | 21/28 | €3,110 | €3,110 | = | 0.0% |
| Financial fixed assets | 28 | €3,110 | €3,110 | = | 0.0% |
| Current assets | 29/58 | €3,471 | €2,380 | -€1,091 | -31.4% |
| Amounts receivable within one year | 40/41 | €2,072 | €1,692 | -€380 | -18.3% |
| Trade receivables | 40 | €217 | €411 | +€194 | +89.3% |
| Other amounts receivable | 41 | €1,855 | €1,281 | -€574 | -30.9% |
| Cash at bank and in hand | 54/58 | €1,351 | €639 | -€712 | -52.7% |
| Deferred charges and accrued income | 490/1 | €48 | €49 | +€1 | +3.1% |
| Total equity and liabilities | 10/49 | €6,581 | €5,490 | -€1,091 | -16.6% |
| Equity | 10/15 | -€10,470 | -€5,804 | +€4,666 | +44.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13 | €13 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13 | €13 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13 | €13 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,084 | -€24,417 | +€4,666 | +16.0% |
| Amounts payable | 17/49 | €17,051 | €11,294 | -€5,757 | -33.8% |
| Amounts payable within one year | 42/48 | €17,051 | €11,294 | -€5,757 | -33.8% |
| Trade debts | 44 | - | €1,881 | +€1,881 | |
| Suppliers | 440/4 | - | €1,881 | +€1,881 | |
| Taxes, remuneration and social security | 45 | €551 | €171 | -€381 | -69.0% |
| Taxes | 450/3 | €551 | €171 | -€381 | -69.0% |
| Other amounts payable | 47/48 | €16,500 | €9,243 | -€7,257 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €506 | - | -€506 | |
| Other operating charges | 640/8 | €792 | €2,487 | +€1,695 | +213.9% |
| Gross operating margin | 9900 | €10,481 | €7,477 | -€3,004 | -28.7% |
| Operating profit (loss) | 9901 | €9,183 | €4,991 | -€4,193 | -45.7% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €1,110 | €340 | -€769 | -69.3% |
| Recurring financial charges | 65 | €1,110 | €340 | -€769 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €8,074 | €4,666 | -€3,407 | -42.2% |
| Income taxes | 67/77 | €171 | - | -€171 | |
| Profit (loss) for the period | 9904 | €7,903 | €4,666 | -€3,236 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,903 | €4,666 | -€3,236 | -41.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.