G-VDB Tech: what changed
Two fiscal 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-VDB Tech
Largest movements
- Cash +€32,598
up €32,598 (+74.4%), from €43,816 to €76,414
mainly Net result for the year (+€21,867) and Receivables within one year (+€15,464)
- Receivables within one year -€15,464
down €15,464 (-42.4%), from €36,469 to €21,005
of which Trade receivables: -€23,210
- Tangible fixed assets +€8,484
up €8,484 (+33.2%), from €25,519 to €34,004
of which Furniture and vehicles: +€10,165
- Reserves +€19,367
up €19,367 (+22.4%), from €86,500 to €105,867
- Other debts +€8,875
new in 2025: €8,875
- Debts after one year -€1,404
down €1,404 (-100.0%), from €1,404 to €0
- Gross operating margin +€25,959
up €25,959 (+112.9%), from €22,984 to €48,944
- Depreciation +€9,886
up €9,886 (+181.8%), from €5,438 to €15,324
- Taxes +€4,144
up €4,144 (+71.6%), from €5,787 to €9,931
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.
Cash bridge derived
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 | €107,740 | €133,764 | +€26,023 | +24.2% |
| Fixed assets | 21/28 | €25,519 | €34,004 | +€8,484 | +33.2% |
| Tangible fixed assets | 22/27 | €25,519 | €34,004 | +€8,484 | +33.2% |
| Plant, machinery and equipment | 23 | €116 | €0 | -€116 | -100.0% |
| Furniture and vehicles | 24 | €20,710 | €30,875 | +€10,165 | +49.1% |
| Other tangible fixed assets | 26 | €4,693 | €3,129 | -€1,564 | -33.3% |
| Current assets | 29/58 | €82,221 | €99,760 | +€17,539 | +21.3% |
| Amounts receivable within one year | 40/41 | €36,469 | €21,005 | -€15,464 | -42.4% |
| Trade receivables | 40 | €33,704 | €10,494 | -€23,210 | -68.9% |
| Other amounts receivable | 41 | €2,765 | €10,511 | +€7,746 | +280.1% |
| Cash at bank and in hand | 54/58 | €43,816 | €76,414 | +€32,598 | +74.4% |
| Deferred charges and accrued income | 490/1 | €1,936 | €2,341 | +€405 | +20.9% |
| Total equity and liabilities | 10/49 | €107,740 | €133,764 | +€26,023 | +24.2% |
| Equity | 10/15 | €98,900 | €118,267 | +€19,367 | +19.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €86,500 | €105,867 | +€19,367 | +22.4% |
| Distributable reserves | 133 | €86,500 | €105,867 | +€19,367 | +22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,840 | €15,497 | +€6,657 | +75.3% |
| Amounts payable after more than one year | 17 | €1,404 | €0 | -€1,404 | -100.0% |
| Other amounts payable | 178/9 | €1,404 | €0 | -€1,404 | -100.0% |
| Amounts payable within one year | 42/48 | €6,236 | €15,497 | +€9,261 | +148.5% |
| Financial debts | 43 | €227 | €1,528 | +€1,301 | +574.5% |
| Credit institutions | 430/8 | €227 | €1,528 | +€1,301 | +574.5% |
| Trade debts | 44 | €2,115 | €1,267 | -€848 | -40.1% |
| Suppliers | 440/4 | €2,115 | €1,267 | -€848 | -40.1% |
| Taxes, remuneration and social security | 45 | €3,895 | €3,827 | -€68 | -1.7% |
| Taxes | 450/3 | €2,085 | €2,017 | -€68 | -3.3% |
| Remuneration and social security | 454/9 | €1,810 | €1,810 | = | 0.0% |
| Other amounts payable | 47/48 | - | €8,875 | +€8,875 | |
| Accrued charges and deferred income | 492/3 | €1,200 | €0 | -€1,200 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,438 | €15,324 | +€9,886 | +181.8% |
| Other operating charges | 640/8 | €1,120 | €706 | -€414 | -37.0% |
| Non-recurring operating charges | 66A | - | €665 | +€665 | |
| Gross operating margin | 9900 | €22,984 | €48,944 | +€25,959 | +112.9% |
| Operating profit (loss) | 9901 | €16,425 | €32,248 | +€15,823 | +96.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €357 | €450 | +€94 | +26.3% |
| Recurring financial charges | 65 | €357 | €450 | +€94 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €16,069 | €31,798 | +€15,729 | +97.9% |
| Income taxes | 67/77 | €5,787 | €9,931 | +€4,144 | +71.6% |
| Profit (loss) for the period | 9904 | €10,281 | €21,867 | +€11,585 | +112.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,281 | €21,867 | +€11,585 | +112.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.