G.V.M.: 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.M.
Largest movements
- Tangible fixed assets -€44,275
down €44,275 (-97.8%), from €45,255 to €979
- Current assets -€7,823
down €7,823 (-7.0%), from €111,065 to €103,242
of which Receivables within one year: -€7,823
- Debts within one year -€35,910
down €35,910 (-28.4%), from €126,438 to €90,528
- Debts after one year -€19,925
down €19,925 (-56.4%), from €35,322 to €15,398
- Profit (loss) carried forward +€3,737
up €3,737 (+27.9%), from -€13,401 to -€9,663
- Gross operating margin +€64,617
up €64,617 (+1,075%), from €6,011 to €70,628
- Depreciation +€44,275
new in 2020: €44,275
From the 2019 result to the 2020 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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €156,919 | €104,822 | -€52,098 | -33.2% |
| Fixed assets | 21/28 | €45,855 | €1,579 | -€44,275 | -96.6% |
| Tangible fixed assets | 22/27 | €45,255 | €979 | -€44,275 | -97.8% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €111,065 | €103,242 | -€7,823 | -7.0% |
| Stocks and contracts in progress | 3 | €7,727 | €7,727 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €103,213 | €95,390 | -€7,823 | -7.6% |
| Total equity and liabilities | 10/49 | €156,919 | €104,822 | -€52,098 | -33.2% |
| Equity | 10/15 | -€4,841 | -€1,104 | +€3,737 | +77.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €7,559 | €7,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,401 | -€9,663 | +€3,737 | +27.9% |
| Amounts payable | 17/49 | €161,761 | €105,926 | -€55,835 | -34.5% |
| Amounts payable after more than one year | 17 | €35,322 | €15,398 | -€19,925 | -56.4% |
| Amounts payable within one year | 42/48 | €126,438 | €90,528 | -€35,910 | -28.4% |
| Trade debts | 44 | €110,261 | €73,399 | -€36,862 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €44,275 | +€44,275 | |
| Gross operating margin | 9900 | €6,011 | €70,628 | +€64,617 | +1,075% |
| Operating profit (loss) | 9901 | €4,724 | €25,140 | +€20,416 | +432% |
| Recurring financial income | 75 | €2 | €42 | +€40 | +1,858% |
| Recurring financial charges | 65 | €12,711 | €21,444 | +€8,733 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,985 | €3,737 | +€11,722 | |
| Income taxes | 67/77 | €327 | - | -€327 | |
| Profit (loss) for the period | 9904 | -€8,312 | €3,737 | +€12,049 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,312 | €3,737 | +€12,049 |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.