G-V HEATING: what changed
G-V HEATING
Largest movements
- Tangible fixed assets -€60,966
down €60,966 (-26.1%), from €233,530 to €172,564
of which Furniture and vehicles: -€42,001
- Stocks and contracts +€20,497
up €20,497 (+68.7%), from €29,851 to €50,348
of which Contracts in progress: +€20,000
- Receivables within one year -€6,175
down €6,175 (-7.4%), from €83,232 to €77,057
of which Other amounts receivable: -€6,950
- Cash +€5,172
up €5,172 (+13.5%), from €38,452 to €43,625
mainly Depreciation (+€64,466) and Receivables within one year (+€6,175)
- Deferred charges and accrued income +€4,125
up €4,125 (+167%), from €2,464 to €6,590
- Trade debts -€37,129
down €37,129 (-72.4%), from €51,316 to €14,187
- Debts after one year -€4,064
down €4,064 (-4.0%), from €102,604 to €98,540
- Tax, wage and social debts +€4,023
up €4,023 (+101%), from €3,989 to €8,013
of which Taxes: +€3,686
- Depreciation -€11,156
down €11,156 (-14.8%), from €75,622 to €64,466
- Other operating charges +€3,655
up €3,655 (+162%), from €2,261 to €5,916
- Gross operating margin -€1,945
down €1,945 (-2.4%), from €80,583 to €78,638
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,800 | €350,453 | -€37,346 | -9.6% |
| Fixed assets | 21/28 | €233,800 | €172,834 | -€60,966 | -26.1% |
| Tangible fixed assets | 22/27 | €233,530 | €172,564 | -€60,966 | -26.1% |
| Land and buildings | 22 | €128 | €96 | -€32 | -25.0% |
| Plant, machinery and equipment | 23 | €57,939 | €39,006 | -€18,933 | -32.7% |
| Furniture and vehicles | 24 | €175,464 | €133,463 | -€42,001 | -23.9% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €153,999 | €177,619 | +€23,620 | +15.3% |
| Stocks and contracts in progress | 3 | €29,851 | €50,348 | +€20,497 | +68.7% |
| Stocks | 30/36 | €14,851 | €15,348 | +€497 | +3.3% |
| Contracts in progress | 37 | €15,000 | €35,000 | +€20,000 | +133% |
| Amounts receivable within one year | 40/41 | €83,232 | €77,057 | -€6,175 | -7.4% |
| Trade receivables | 40 | €43,167 | €43,942 | +€775 | +1.8% |
| Other amounts receivable | 41 | €40,065 | €33,115 | -€6,950 | -17.3% |
| Cash at bank and in hand | 54/58 | €38,452 | €43,625 | +€5,172 | +13.5% |
| Deferred charges and accrued income | 490/1 | €2,464 | €6,590 | +€4,125 | +167% |
| Total equity and liabilities | 10/49 | €387,800 | €350,453 | -€37,346 | -9.6% |
| Equity | 10/15 | €190,143 | €192,062 | +€1,919 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,463 | €41,463 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €39,603 | €41,463 | +€1,860 | +4.7% |
| Profit (loss) carried forward | 14 | €130,080 | €132,000 | +€1,919 | +1.5% |
| Amounts payable | 17/49 | €197,657 | €158,391 | -€39,266 | -19.9% |
| Amounts payable after more than one year | 17 | €102,604 | €98,540 | -€4,064 | -4.0% |
| Financial debts | 170/4 | €102,604 | €98,540 | -€4,064 | -4.0% |
| Amounts payable within one year | 42/48 | €95,053 | €59,851 | -€35,201 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €39,606 | €37,301 | -€2,305 | -5.8% |
| Financial debts | 43 | €16 | €16 | = | 0.0% |
| Credit institutions | 430/8 | €16 | €16 | = | 0.0% |
| Trade debts | 44 | €51,316 | €14,187 | -€37,129 | -72.4% |
| Suppliers | 440/4 | €51,316 | €14,187 | -€37,129 | -72.4% |
| Advances received on contracts in progress | 46 | €126 | €335 | +€210 | +167% |
| Taxes, remuneration and social security | 45 | €3,989 | €8,013 | +€4,023 | +101% |
| Taxes | 450/3 | €827 | €4,513 | +€3,686 | +446% |
| Remuneration and social security | 454/9 | €3,162 | €3,500 | +€338 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,622 | €64,466 | -€11,156 | -14.8% |
| Other operating charges | 640/8 | €2,261 | €5,916 | +€3,655 | +162% |
| Gross operating margin | 9900 | €80,583 | €78,638 | -€1,945 | -2.4% |
| Operating profit (loss) | 9901 | €2,700 | €8,256 | +€5,557 | +206% |
| Financial income | 75/76B | €1,143 | €1,254 | +€111 | +9.7% |
| Recurring financial income | 75 | €1,143 | €1,254 | +€111 | +9.7% |
| Financial charges | 65/66B | €6,119 | €6,028 | -€91 | -1.5% |
| Recurring financial charges | 65 | €6,119 | €6,028 | -€91 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,276 | €3,482 | +€5,758 | |
| Income taxes | 67/77 | €351 | €704 | +€353 | +101% |
| Profit (loss) for the period | 9904 | -€2,627 | €2,778 | +€5,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,627 | €2,778 | +€5,405 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.