GHEVIA: 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.
GHEVIA
Largest movements
- Receivables within one year +€73,900
up €73,900 (+713%), from €10,365 to €84,266
of which Other amounts receivable: +€78,394
- Tangible fixed assets -€41,743
down €41,743 (-20.4%), from €205,075 to €163,332
of which Land and buildings: -€20,972
- Cash +€40,347
up €40,347 (+1,130%), from €3,571 to €43,919
mainly Net result for the year (+€83,174) and Depreciation (+€42,586)
- Profit (loss) carried forward +€83,174
up €83,174 (+38.3%), from -€217,413 to -€134,240
- Trade debts +€24,834
up €24,834 (+449%), from €5,525 to €30,359
- Other debts -€20,161
down €20,161 (-87.1%), from €23,149 to €2,988
- Debts after one year -€19,100
down €19,100 (-5.2%), from €368,786 to €349,686
- Gross operating margin +€87,564
up €87,564 (+196%), from €44,642 to €132,207
- Financial charges +€4,252
up €4,252 (+428%), from €994 to €5,247
- Depreciation +€1,423
up €1,423 (+3.5%), from €41,164 to €42,586
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 | €223,080 | €294,571 | +€71,491 | +32.0% |
| Fixed assets | 21/28 | €205,075 | €163,332 | -€41,743 | -20.4% |
| Tangible fixed assets | 22/27 | €205,075 | €163,332 | -€41,743 | -20.4% |
| Land and buildings | 22 | €32,835 | €11,863 | -€20,972 | -63.9% |
| Plant, machinery and equipment | 23 | €156,334 | €140,552 | -€15,782 | -10.1% |
| Furniture and vehicles | 24 | €15,906 | €10,917 | -€4,989 | -31.4% |
| Current assets | 29/58 | €18,006 | €131,240 | +€113,234 | +629% |
| Amounts receivable within one year | 40/41 | €10,365 | €84,266 | +€73,900 | +713% |
| Trade receivables | 40 | €6,096 | €1,602 | -€4,493 | -73.7% |
| Other amounts receivable | 41 | €4,270 | €82,663 | +€78,394 | +1,836% |
| Cash at bank and in hand | 54/58 | €3,571 | €43,919 | +€40,347 | +1,130% |
| Deferred charges and accrued income | 490/1 | €4,069 | €3,055 | -€1,014 | -24.9% |
| Total equity and liabilities | 10/49 | €223,080 | €294,571 | +€71,491 | +32.0% |
| Equity | 10/15 | -€193,016 | -€109,842 | +€83,174 | +43.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,437 | €2,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,437 | €2,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€217,413 | -€134,240 | +€83,174 | +38.3% |
| Investment grants | 15 | €3,360 | €3,360 | = | 0.0% |
| Provisions and deferred taxes | 16 | €177 | €177 | = | 0.0% |
| Deferred taxes | 168 | €177 | €177 | = | 0.0% |
| Amounts payable | 17/49 | €415,920 | €404,237 | -€11,683 | -2.8% |
| Amounts payable after more than one year | 17 | €368,786 | €349,686 | -€19,100 | -5.2% |
| Financial debts | 170/4 | €368,786 | €349,686 | -€19,100 | -5.2% |
| Amounts payable within one year | 42/48 | €47,134 | €52,690 | +€5,556 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €18,275 | €19,100 | +€824 | +4.5% |
| Trade debts | 44 | €5,525 | €30,359 | +€24,834 | +449% |
| Suppliers | 440/4 | €5,525 | €30,359 | +€24,834 | +449% |
| Taxes, remuneration and social security | 45 | €185 | €244 | +€59 | +32.0% |
| Taxes | 450/3 | €185 | €244 | +€59 | +32.0% |
| Other amounts payable | 47/48 | €23,149 | €2,988 | -€20,161 | -87.1% |
| Accrued charges and deferred income | 492/3 | - | €1,861 | +€1,861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,164 | €42,586 | +€1,423 | +3.5% |
| Other operating charges | 640/8 | €2,252 | €1,979 | -€273 | -12.1% |
| Gross operating margin | 9900 | €44,642 | €132,207 | +€87,564 | +196% |
| Operating profit (loss) | 9901 | €1,227 | €87,641 | +€86,414 | +7,045% |
| Financial income | 75/76B | €73 | €995 | +€922 | +1,260% |
| Recurring financial income | 75 | €73 | €995 | +€922 | +1,260% |
| Financial charges | 65/66B | €994 | €5,247 | +€4,252 | +428% |
| Recurring financial charges | 65 | €994 | €5,247 | +€4,252 | +428% |
| Profit (loss) for the period before taxes | 9903 | €305 | €83,390 | +€83,084 | +27,214% |
| Income taxes | 67/77 | €189 | €216 | +€27 | +14.4% |
| Profit (loss) for the period | 9904 | €117 | €83,174 | +€83,057 | +71,147% |
| Profit (loss) for the period to be appropriated | 9905 | €117 | €83,174 | +€83,057 | +71,147% |
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 1 November 2026 via checked.be.