G.V.-S: 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.-S
Largest movements
- Tangible fixed assets +€19,012
up €19,012 (+3,588%), from €530 to €19,542
of which Furniture and vehicles: +€19,494
- Receivables within one year +€18,008
up €18,008 (+45.9%), from €39,276 to €57,285
of which Other amounts receivable: +€17,109
- Reserves +€36,125
up €36,125 (+12.8%), from €281,359 to €317,484
- Gross operating margin +€10,403
up €10,403 (+23.6%), from €44,170 to €54,573
- Depreciation +€5,369
up €5,369 (+780%), from €688 to €6,057
- Taxes +€2,503
up €2,503 (+15.8%), from €15,825 to €18,327
- Financial charges -€1,750
down €1,750 (-61.2%), from €2,858 to €1,108
- Financial income +€895
up €895 (+13.2%), from €6,794 to €7,689
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,865 | €352,046 | +€39,181 | +12.5% |
| Fixed assets | 21/28 | €2,920 | €21,932 | +€19,012 | +651% |
| Tangible fixed assets | 22/27 | €530 | €19,542 | +€19,012 | +3,588% |
| Plant, machinery and equipment | 23 | €530 | €48 | -€482 | -90.9% |
| Furniture and vehicles | 24 | - | €19,494 | +€19,494 | |
| Financial fixed assets | 28 | €2,390 | €2,390 | = | 0.0% |
| Current assets | 29/58 | €309,945 | €330,115 | +€20,169 | +6.5% |
| Amounts receivable after more than one year | 29 | €197,000 | €197,000 | = | 0.0% |
| Other amounts receivable | 291 | €197,000 | €197,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,276 | €57,285 | +€18,008 | +45.9% |
| Trade receivables | 40 | €7,113 | €8,012 | +€900 | +12.6% |
| Other amounts receivable | 41 | €32,164 | €49,272 | +€17,109 | +53.2% |
| Cash at bank and in hand | 54/58 | €73,669 | €75,830 | +€2,161 | +2.9% |
| Total equity and liabilities | 10/49 | €312,865 | €352,046 | +€39,181 | +12.5% |
| Equity | 10/15 | €301,359 | €337,484 | +€36,125 | +12.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €281,359 | €317,484 | +€36,125 | +12.8% |
| Distributable reserves | 133 | €281,359 | €317,484 | +€36,125 | +12.8% |
| Amounts payable | 17/49 | €11,506 | €14,563 | +€3,057 | +26.6% |
| Amounts payable within one year | 42/48 | €11,506 | €14,563 | +€3,057 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €4,686 | €4,748 | +€62 | +1.3% |
| Trade debts | 44 | €2,103 | €1,795 | -€308 | -14.7% |
| Suppliers | 440/4 | €2,103 | €1,795 | -€308 | -14.7% |
| Taxes, remuneration and social security | 45 | €4,717 | €8,020 | +€3,303 | +70.0% |
| Taxes | 450/3 | €4,717 | €8,020 | +€3,303 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688 | €6,057 | +€5,369 | +780% |
| Other operating charges | 640/8 | €905 | €645 | -€260 | -28.7% |
| Gross operating margin | 9900 | €44,170 | €54,573 | +€10,403 | +23.6% |
| Operating profit (loss) | 9901 | €42,577 | €47,871 | +€5,293 | +12.4% |
| Financial income | 75/76B | €6,794 | €7,689 | +€895 | +13.2% |
| Recurring financial income | 75 | €6,794 | €7,689 | +€895 | +13.2% |
| Financial charges | 65/66B | €2,858 | €1,108 | -€1,750 | -61.2% |
| Recurring financial charges | 65 | €2,858 | €1,108 | -€1,750 | -61.2% |
| Profit (loss) for the period before taxes | 9903 | €46,514 | €54,452 | +€7,938 | +17.1% |
| Income taxes | 67/77 | €15,825 | €18,327 | +€2,503 | +15.8% |
| Profit (loss) for the period | 9904 | €30,689 | €36,125 | +€5,435 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,689 | €36,125 | +€5,435 | +17.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.