GAVCO: 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.
GAVCO
Largest movements
- Tangible fixed assets -€16,904
down €16,904 (-88.9%), from €19,013 to €2,109
of which Furniture and vehicles: -€16,048
- Receivables within one year +€7,389
up €7,389 (+24.8%), from €29,740 to €37,129
of which Other amounts receivable: +€10,232
- Cash -€4,613
down €4,613 (-18.4%), from €25,064 to €20,450
mainly Other debts (-€10,000) and Trade debts (-€9,613)
- Profit (loss) carried forward +€13,079
up €13,079 (+38.5%), from €33,959 to €47,037
- Other debts -€10,000
no longer reported in 2026 (was €10,000)
- Trade debts -€9,613
down €9,613 (-76.0%), from €12,641 to €3,028
- Current portion of long-term debt -€4,529
down €4,529 (-74.8%), from €6,051 to €1,522
- Tax, wage and social debts -€1,948
down €1,948 (-33.0%), from €5,901 to €3,953
- Turnover +€296,435
new in 2026: €296,435
- Purchases and services +€269,243
new in 2026: €269,243
- Gross operating margin -€15,827
down €15,827 (-26.9%), from €58,927 to €43,100
- Other operating charges +€9,528
up €9,528 (+1356.7%), from €702 to €10,231
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,074 | €60,540 | -€14,533 | -19.4% |
| Fixed assets | 21/28 | €19,013 | €2,109 | -€16,904 | -88.9% |
| Tangible fixed assets | 22/27 | €19,013 | €2,109 | -€16,904 | -88.9% |
| Plant, machinery and equipment | 23 | €1,759 | €903 | -€856 | -48.7% |
| Furniture and vehicles | 24 | €17,255 | €1,207 | -€16,048 | -93.0% |
| Current assets | 29/58 | €56,061 | €58,431 | +€2,371 | +4.2% |
| Amounts receivable within one year | 40/41 | €29,740 | €37,129 | +€7,389 | +24.8% |
| Trade receivables | 40 | €27,486 | €24,643 | -€2,843 | -10.3% |
| Other amounts receivable | 41 | €2,254 | €12,486 | +€10,232 | +454.0% |
| Cash at bank and in hand | 54/58 | €25,064 | €20,450 | -€4,613 | -18.4% |
| Deferred charges and accrued income | 490/1 | €1,257 | €851 | -€405 | -32.2% |
| Total equity and liabilities | 10/49 | €75,074 | €60,540 | -€14,533 | -19.4% |
| Equity | 10/15 | €38,959 | €52,037 | +€13,079 | +33.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,959 | €47,037 | +€13,079 | +38.5% |
| Amounts payable | 17/49 | €36,115 | €8,503 | -€27,612 | -76.5% |
| Amounts payable after more than one year | 17 | €1,522 | - | -€1,522 | |
| Financial debts | 170/4 | €1,522 | - | -€1,522 | |
| Amounts payable within one year | 42/48 | €34,593 | €8,503 | -€26,090 | -75.4% |
| Current portion of amounts payable after more than one year | 42 | €6,051 | €1,522 | -€4,529 | -74.8% |
| Trade debts | 44 | €12,641 | €3,028 | -€9,613 | -76.0% |
| Suppliers | 440/4 | €12,641 | €3,028 | -€9,613 | -76.0% |
| Taxes, remuneration and social security | 45 | €5,901 | €3,953 | -€1,948 | -33.0% |
| Taxes | 450/3 | €5,901 | €3,953 | -€1,948 | -33.0% |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Turnover | 70 | - | €296,435 | +€296,435 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €269,243 | +€269,243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,089 | €7,734 | -€2,355 | -23.3% |
| Other operating charges | 640/8 | €702 | €10,231 | +€9,528 | +1356.7% |
| Gross operating margin | 9900 | €58,927 | €43,100 | -€15,827 | -26.9% |
| Operating profit (loss) | 9901 | €48,135 | €25,135 | -€23,000 | -47.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €613 | €3,305 | +€2,692 | +439.3% |
| Recurring financial charges | 65 | €613 | €3,305 | +€2,692 | +439.3% |
| Profit (loss) for the period before taxes | 9903 | €47,522 | €21,830 | -€25,692 | -54.1% |
| Income taxes | 67/77 | €10,401 | €8,751 | -€1,650 | -15.9% |
| Profit (loss) for the period | 9904 | €37,121 | €13,079 | -€24,042 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,121 | €13,079 | -€24,042 | -64.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.