G-Value: 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-Value
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€95,865
2024 · €191,504-€95,639
Equity
€1.4m
2024 · €1.4m-€19,135
Cash
€72,314
2024 · €64,276+€8,038
Balance sheet total
€2.0m
2024 · €1.9m+€82,412
Largest movements
Assets
- Receivables within one year +€190,543
up €190,543 (+328%), from €58,118 to €248,660
of which Other amounts receivable: +€189,780
- Current investments -€185,000
no longer reported in 2025 (was €185,000)
- Receivables after one year +€55,000
new in 2025: €55,000
Equity and liabilities
- Other debts -€265,156
down €265,156 (-92.1%), from €287,808 to €22,652
- Short-term financial debts +€252,628
up €252,628 (+5,655%), from €4,468 to €257,095
- Debts after one year +€95,087
up €95,087 (+76.4%), from €124,460 to €219,547
Income statement
- Financial income -€100,139
down €100,139 (-95.3%), from €105,110 to €4,971
- Financial charges -€11,427
down €11,427 (-35.4%), from €32,315 to €20,888
- Gross operating margin -€9,974
down €9,974 (-5.3%), from €186,829 to €176,855
- Taxes -€7,157
down €7,157 (-13.2%), from €54,365 to €47,208
- Depreciation +€3,531
up €3,531 (+27.9%), from €12,665 to €16,197
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
€191,504
Gross operating margin
-€9,974
Depreciation
-€3,531
Other operating charges
-€578
Financial income
-€100,139
Financial charges
+€11,427
Taxes
+€7,157
Result 2025
€95,865
raises the resultlowers the result
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
-€400,728
Investment
+€156,457
Financing
+€252,308
Cash 2024
€64,276
From operations (derived)
-€400,728
Net result for the year
+€95,865
Depreciation
+€16,197
Receivables after one year
-€55,000
Receivables within one year
-€190,543
Deferred charges and accrued income
-€1,486
Trade debts
-€1,526
Tax, wage and social debts
-€13,532
Other debts
-€265,156
Accrued charges and deferred income
+€14,453
Investment (derived)
+€156,457
Investment in fixed assets (net)
-€28,543
Current investments
+€185,000
Financing
+€252,308
Debts after one year
+€95,087
Current portion of long-term debt
+€19,593
Short-term financial debts
+€252,628
Contributions, distributions and other
-€115,000
Cash 2025
€72,314
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,914,055 | €1,996,467 | +€82,412 | +4.3% |
| Fixed assets | 21/28 | €1,397,064 | €1,409,410 | +€12,346 | +0.9% |
| Tangible fixed assets | 22/27 | €183,189 | €185,530 | +€2,341 | +1.3% |
| Land and buildings | 22 | €175,558 | €166,094 | -€9,464 | -5.4% |
| Furniture and vehicles | 24 | €4,731 | €17,187 | +€12,456 | +263% |
| Other tangible fixed assets | 26 | €2,899 | €2,248 | -€651 | -22.4% |
| Financial fixed assets | 28 | €1,213,875 | €1,223,880 | +€10,005 | +0.8% |
| Current assets | 29/58 | €516,991 | €587,057 | +€70,066 | +13.6% |
| Amounts receivable after more than one year | 29 | - | €55,000 | +€55,000 | |
| Other amounts receivable | 291 | - | €55,000 | +€55,000 | |
| Stocks and contracts in progress | 3 | €207,819 | €207,819 | = | 0.0% |
| Stocks | 30/36 | €207,819 | €207,819 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,118 | €248,660 | +€190,543 | +328% |
| Trade receivables | 40 | €24,144 | €24,907 | +€763 | +3.2% |
| Other amounts receivable | 41 | €33,973 | €223,753 | +€189,780 | +559% |
| Current investments | 50/53 | €185,000 | - | -€185,000 | |
| Cash at bank and in hand | 54/58 | €64,276 | €72,314 | +€8,038 | +12.5% |
| Deferred charges and accrued income | 490/1 | €1,778 | €3,264 | +€1,486 | +83.6% |
| Total equity and liabilities | 10/49 | €1,914,055 | €1,996,467 | +€82,412 | +4.3% |
| Equity | 10/15 | €1,383,741 | €1,364,607 | -€19,135 | -1.4% |
| Contributions | 10/11 | €403,600 | €403,600 | = | 0.0% |
| Reserves | 13 | €862,951 | €843,801 | -€19,150 | -2.2% |
| Tax-exempt reserves | 132 | €117,201 | €117,201 | = | 0.0% |
| Distributable reserves | 133 | €745,750 | €726,600 | -€19,150 | -2.6% |
| Profit (loss) carried forward | 14 | €107,268 | €107,284 | +€15 | 0.0% |
| Investment grants | 15 | €9,922 | €9,922 | = | 0.0% |
| Amounts payable | 17/49 | €530,314 | €631,860 | +€101,547 | +19.1% |
| Amounts payable after more than one year | 17 | €124,460 | €219,547 | +€95,087 | +76.4% |
| Financial debts | 170/4 | €124,460 | €219,547 | +€95,087 | +76.4% |
| Amounts payable within one year | 42/48 | €383,575 | €375,583 | -€7,993 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €25,320 | €44,913 | +€19,593 | +77.4% |
| Financial debts | 43 | €4,468 | €257,095 | +€252,628 | +5,655% |
| Credit institutions | 430/8 | €4,468 | €257,095 | +€252,628 | +5,655% |
| Trade debts | 44 | €3,871 | €2,345 | -€1,526 | -39.4% |
| Suppliers | 440/4 | €3,871 | €2,345 | -€1,526 | -39.4% |
| Taxes, remuneration and social security | 45 | €62,109 | €48,577 | -€13,532 | -21.8% |
| Taxes | 450/3 | €62,109 | €48,577 | -€13,532 | -21.8% |
| Other amounts payable | 47/48 | €287,808 | €22,652 | -€265,156 | -92.1% |
| Accrued charges and deferred income | 492/3 | €22,278 | €36,731 | +€14,453 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,665 | €16,197 | +€3,531 | +27.9% |
| Other operating charges | 640/8 | €1,091 | €1,669 | +€578 | +53.0% |
| Gross operating margin | 9900 | €186,829 | €176,855 | -€9,974 | -5.3% |
| Operating profit (loss) | 9901 | €173,074 | €158,989 | -€14,084 | -8.1% |
| Financial income | 75/76B | €105,110 | €4,971 | -€100,139 | -95.3% |
| Recurring financial income | 75 | €105,110 | €4,971 | -€100,139 | -95.3% |
| Financial charges | 65/66B | €32,315 | €20,888 | -€11,427 | -35.4% |
| Recurring financial charges | 65 | €32,315 | €20,888 | -€11,427 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €245,869 | €143,073 | -€102,796 | -41.8% |
| Income taxes | 67/77 | €54,365 | €47,208 | -€7,157 | -13.2% |
| Profit (loss) for the period | 9904 | €191,504 | €95,865 | -€95,639 | -49.9% |
| Transfer from tax-exempt reserves | 789 | €56,835 | - | -€56,835 | |
| Transfer to tax-exempt reserves | 689 | €82,095 | - | -€82,095 | |
| Profit (loss) for the period to be appropriated | 9905 | €166,244 | €95,865 | -€70,379 | -42.3% |
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.