G & V GROUP: 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.
What changed
G & V GROUP
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€36,780
2024 · €42,925-€6,145
Equity
€820,008
2024 · €783,227+€36,781
Cash
€24,951
2024 · €20,770+€4,181
Balance sheet total
€1.7m
2024 · €1.7m-€6,979
Largest movements
Assets
- Tangible fixed assets -€21,623
down €21,623 (-2.1%), from €1.0m to €1.0m
of which Land and buildings: -€17,334
Equity and liabilities
- Reserves +€106,287
up €106,287 (+26.7%), from €398,641 to €504,928
of which Distributable reserves: +€119,432
- Profit (loss) carried forward -€69,506
no longer reported in 2025 (was €69,506)
- Debts after one year -€41,143
down €41,143 (-6.0%), from €684,387 to €643,244
of which Financial debts: -€41,143
Income statement
- Taxes +€13,724
up €13,724 (+139%), from €9,873 to €23,597
- Depreciation -€10,445
down €10,445 (-20.1%), from €51,866 to €41,421
- Gross operating margin -€7,048
down €7,048 (-6.9%), from €102,718 to €95,670
- Financial income +€3,976
up €3,976 (+26.5%), from €14,981 to €18,957
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.
Result 2024
€42,925
Gross operating margin
-€7,048
Depreciation
+€10,445
Other operating charges
-€935
Financial income
+€3,976
Financial charges
+€641
Taxes
-€13,724
Deferred taxes and other
+€500
Result 2025
€36,780
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€68,302
Investment
-€23,773
Financing
-€40,349
Cash 2024
€20,770
From operations (derived)
+€68,302
Net result for the year
+€36,780
Depreciation
+€41,421
Receivables within one year
-€7,130
Deferred charges and accrued income
+€642
Provisions
-€5,293
Trade debts
+€3,886
Tax, wage and social debts
-€434
Other debts
+€0
Accrued charges and deferred income
-€1,570
Investment (derived)
-€23,773
Investment in fixed assets (net)
-€19,797
Current investments
-€3,975
Financing
-€40,349
Debts after one year
-€41,143
Current portion of long-term debt
+€793
Contributions, distributions and other
+€1
Cash 2025
€24,951
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,678,164 | €1,671,185 | -€6,979 | -0.4% |
| Fixed assets | 21/28 | €1,042,636 | €1,021,013 | -€21,623 | -2.1% |
| Tangible fixed assets | 22/27 | €1,042,636 | €1,021,013 | -€21,623 | -2.1% |
| Land and buildings | 22 | €1,010,303 | €992,969 | -€17,334 | -1.7% |
| Plant, machinery and equipment | 23 | €25,490 | €21,201 | -€4,289 | -16.8% |
| Assets under construction and advance payments | 27 | €6,843 | €6,843 | -€0 | 0.0% |
| Current assets | 29/58 | €635,528 | €650,172 | +€14,644 | +2.3% |
| Amounts receivable within one year | 40/41 | €173,222 | €180,352 | +€7,130 | +4.1% |
| Trade receivables | 40 | €2,236 | €944 | -€1,292 | -57.8% |
| Other amounts receivable | 41 | €170,986 | €179,409 | +€8,423 | +4.9% |
| Current investments | 50/53 | €440,894 | €444,869 | +€3,975 | +0.9% |
| Cash at bank and in hand | 54/58 | €20,770 | €24,951 | +€4,181 | +20.1% |
| Deferred charges and accrued income | 490/1 | €642 | - | -€642 | |
| Total equity and liabilities | 10/49 | €1,678,164 | €1,671,185 | -€6,979 | -0.4% |
| Equity | 10/15 | €783,227 | €820,008 | +€36,781 | +4.7% |
| Contributions | 10/11 | €315,080 | €315,080 | = | 0.0% |
| Reserves | 13 | €398,641 | €504,928 | +€106,287 | +26.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €396,781 | €383,636 | -€13,145 | -3.3% |
| Distributable reserves | 133 | - | €119,432 | +€119,432 | |
| Profit (loss) carried forward | 14 | €69,506 | - | -€69,506 | |
| Provisions and deferred taxes | 16 | €150,110 | €144,817 | -€5,293 | -3.5% |
| Deferred taxes | 168 | €150,110 | €144,817 | -€5,293 | -3.5% |
| Amounts payable | 17/49 | €744,827 | €706,360 | -€38,467 | -5.2% |
| Amounts payable after more than one year | 17 | €684,387 | €643,244 | -€41,143 | -6.0% |
| Financial debts | 170/4 | €683,392 | €642,249 | -€41,143 | -6.0% |
| Other amounts payable | 178/9 | €995 | €995 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,870 | €63,116 | +€4,246 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €43,745 | €44,538 | +€793 | +1.8% |
| Trade debts | 44 | - | €3,886 | +€3,886 | |
| Suppliers | 440/4 | - | €3,886 | +€3,886 | |
| Taxes, remuneration and social security | 45 | €5,426 | €4,993 | -€434 | -8.0% |
| Taxes | 450/3 | €5,426 | €4,993 | -€434 | -8.0% |
| Other amounts payable | 47/48 | €9,699 | €9,699 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,570 | - | -€1,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,866 | €41,421 | -€10,445 | -20.1% |
| Other operating charges | 640/8 | €4,113 | €5,048 | +€935 | +22.7% |
| Gross operating margin | 9900 | €102,718 | €95,670 | -€7,048 | -6.9% |
| Operating profit (loss) | 9901 | €46,739 | €49,202 | +€2,463 | +5.3% |
| Financial income | 75/76B | €14,981 | €18,957 | +€3,976 | +26.5% |
| Recurring financial income | 75 | €14,981 | €18,957 | +€3,976 | +26.5% |
| Financial charges | 65/66B | €13,715 | €13,074 | -€641 | -4.7% |
| Recurring financial charges | 65 | €13,715 | €13,074 | -€641 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €48,005 | €55,084 | +€7,079 | +14.7% |
| Transfer from deferred taxes | 780 | €4,793 | €5,293 | +€500 | +10.4% |
| Income taxes | 67/77 | €9,873 | €23,597 | +€13,724 | +139% |
| Profit (loss) for the period | 9904 | €42,925 | €36,780 | -€6,145 | -14.3% |
| Transfer from tax-exempt reserves | 789 | €11,597 | €13,145 | +€1,548 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,522 | €49,925 | -€4,597 | -8.4% |
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 14 October 2026 via checked.be.