GCVG: 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.
GCVG
Largest movements
- Receivables within one year +€29,157
up €29,157 (+3,000%), from €972 to €30,129
of which Trade receivables: +€27,993
- Cash +€8,642
up €8,642 (+1,288%), from €671 to €9,313
mainly Net result for the year (+€16,204) and Trade debts (+€10,086)
- Tangible fixed assets +€1,259
up €1,259 (+63.0%), from €1,997 to €3,256
of which Furniture and vehicles: +€980
- Stocks and contracts +€969
up €969 (+298%), from €325 to €1,294
- Profit (loss) carried forward +€16,205
up €16,205 (+56.8%), from -€28,551 to -€12,346
- Trade debts +€10,086
up €10,086 (+4,292%), from €235 to €10,321
- Advances received +€9,535
new in 2025: €9,535
- Tax, wage and social debts +€4,495
new in 2025: €4,495
of which Taxes: +€3,116
- Gross operating margin +€29,600
up €29,600, from -€1,415 to €28,185
- Staff costs +€7,251
new in 2025: €7,251
- Depreciation -€2,118
down €2,118 (-70.5%), from €3,003 to €885
- Other operating charges +€1,528
up €1,528 (+182%), from €838 to €2,366
- Financial charges +€1,412
up €1,412 (+1,502%), from €94 to €1,506
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 | €3,965 | €44,156 | +€40,191 | +1,014% |
| Fixed assets | 21/28 | €1,997 | €3,256 | +€1,259 | +63.0% |
| Tangible fixed assets | 22/27 | €1,997 | €3,256 | +€1,259 | +63.0% |
| Plant, machinery and equipment | 23 | €1,112 | €1,567 | +€455 | +40.9% |
| Furniture and vehicles | 24 | - | €980 | +€980 | |
| Other tangible fixed assets | 26 | €885 | €709 | -€176 | -19.9% |
| Current assets | 29/58 | €1,968 | €40,900 | +€38,932 | +1,978% |
| Stocks and contracts in progress | 3 | €325 | €1,294 | +€969 | +298% |
| Stocks | 30/36 | €325 | €1,294 | +€969 | +298% |
| Amounts receivable within one year | 40/41 | €972 | €30,129 | +€29,157 | +3,000% |
| Trade receivables | 40 | - | €27,993 | +€27,993 | |
| Other amounts receivable | 41 | €972 | €2,136 | +€1,164 | +120% |
| Cash at bank and in hand | 54/58 | €671 | €9,313 | +€8,642 | +1,288% |
| Deferred charges and accrued income | 490/1 | - | €164 | +€164 | |
| Total equity and liabilities | 10/49 | €3,965 | €44,156 | +€40,191 | +1,014% |
| Equity | 10/15 | -€8,551 | €7,654 | +€16,205 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,551 | -€12,346 | +€16,205 | +56.8% |
| Amounts payable | 17/49 | €12,516 | €36,502 | +€23,986 | +192% |
| Amounts payable within one year | 42/48 | €12,516 | €36,461 | +€23,945 | +191% |
| Trade debts | 44 | €235 | €10,321 | +€10,086 | +4,292% |
| Suppliers | 440/4 | €235 | €10,321 | +€10,086 | +4,292% |
| Advances received on contracts in progress | 46 | - | €9,535 | +€9,535 | |
| Taxes, remuneration and social security | 45 | - | €4,495 | +€4,495 | |
| Taxes | 450/3 | - | €3,116 | +€3,116 | |
| Remuneration and social security | 454/9 | - | €1,379 | +€1,379 | |
| Other amounts payable | 47/48 | €12,281 | €12,110 | -€171 | -1.4% |
| Accrued charges and deferred income | 492/3 | - | €41 | +€41 | |
| Remuneration, social security and pensions | 62 | - | €7,251 | +€7,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,003 | €885 | -€2,118 | -70.5% |
| Other operating charges | 640/8 | €838 | €2,366 | +€1,528 | +182% |
| Gross operating margin | 9900 | -€1,415 | €28,185 | +€29,600 | |
| Operating profit (loss) | 9901 | -€5,256 | €17,683 | +€22,939 | |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €94 | €1,506 | +€1,412 | +1,502% |
| Recurring financial charges | 65 | €94 | €1,506 | +€1,412 | +1,502% |
| Profit (loss) for the period before taxes | 9903 | -€5,350 | €16,204 | +€21,554 | |
| Profit (loss) for the period | 9904 | -€5,350 | €16,204 | +€21,554 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,350 | €16,204 | +€21,554 |
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.