GILVA: 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.
What changed
GILVA
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€344,557
2024 · €943,201-€598,644
Equity
€10.6m
2024 · €10.2m+€344,557
Cash
€33,138
2024 · €43,058-€9,920
Balance sheet total
€19.5m
2024 · €18.1m+€1.4m
Largest movements
Assets
- Receivables within one year +€1.3m
up €1.3m (+36.8%), from €3.5m to €4.9m
of which Other amounts receivable: +€1.3m
Equity and liabilities
- Other debts +€1.6m
up €1.6m (+44.4%), from €3.7m to €5.3m
- Debts after one year -€573,119
down €573,119 (-16.5%), from €3.5m to €2.9m
- Reserves +€344,557
up €344,557 (+3.9%), from €8.7m to €9.1m
of which Distributable reserves: +€370,464
Income statement
- Financial income -€490,367
down €490,367 (-48.8%), from €1.0m to €513,482
- Financial charges +€117,339
up €117,339 (+99.0%), from €118,574 to €235,913
- Taxes -€9,331
down €9,331 (-96.2%), from €9,704 to €373
- Depreciation +€6,190
up €6,190 (+2.9%), from €210,144 to €216,334
- Gross operating margin +€3,629
up €3,629 (+1.2%), from €290,881 to €294,510
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
€943,201
Gross operating margin
+€3,629
Depreciation
-€6,190
Other operating charges
+€2,292
Financial income
-€490,367
Financial charges
-€117,339
Taxes
+€9,331
Result 2025
€344,557
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.
From operations
+€723,427
Investment
-€162,696
Financing
-€570,652
Cash 2024
€43,058
From operations (derived)
+€723,427
Net result for the year
+€344,557
Depreciation
+€216,334
Receivables after one year
-€155,250
Receivables within one year
-€1.3m
Smaller working-capital items
+€514
Provisions
-€8,646
Trade debts
+€8,523
Other debts
+€1.6m
Investment (derived)
-€162,696
Investment in fixed assets (net)
-€162,696
Financing
-€570,652
Debts after one year
-€573,119
Current portion of long-term debt
+€2,468
Cash 2025
€33,138
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,086,604 | €19,482,587 | +€1.4m | +7.7% |
| Fixed assets | 21/28 | €14,485,498 | €14,431,859 | -€53,638 | -0.4% |
| Tangible fixed assets | 22/27 | €4,988,635 | €4,814,997 | -€173,638 | -3.5% |
| Land and buildings | 22 | €4,987,315 | €4,813,978 | -€173,337 | -3.5% |
| Furniture and vehicles | 24 | €1,320 | €1,019 | -€301 | -22.8% |
| Financial fixed assets | 28 | €9,496,862 | €9,616,862 | +€120,000 | +1.3% |
| Current assets | 29/58 | €3,601,106 | €5,050,727 | +€1.4m | +40.3% |
| Amounts receivable after more than one year | 29 | - | €155,250 | +€155,250 | |
| Trade receivables | 290 | - | €155,250 | +€155,250 | |
| Amounts receivable within one year | 40/41 | €3,547,793 | €4,851,761 | +€1.3m | +36.8% |
| Trade receivables | 40 | €150,000 | €132,500 | -€17,500 | -11.7% |
| Other amounts receivable | 41 | €3,397,793 | €4,719,261 | +€1.3m | +38.9% |
| Cash at bank and in hand | 54/58 | €43,058 | €33,138 | -€9,920 | -23.0% |
| Deferred charges and accrued income | 490/1 | €10,256 | €10,578 | +€322 | +3.1% |
| Total equity and liabilities | 10/49 | €18,086,604 | €19,482,587 | +€1.4m | +7.7% |
| Equity | 10/15 | €10,227,752 | €10,572,310 | +€344,557 | +3.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €8,727,752 | €9,072,310 | +€344,557 | +3.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €466,319 | €440,413 | -€25,907 | -5.6% |
| Distributable reserves | 133 | €8,261,433 | €8,631,897 | +€370,464 | +4.5% |
| Provisions and deferred taxes | 16 | €155,430 | €146,784 | -€8,646 | -5.6% |
| Deferred taxes | 168 | €155,430 | €146,784 | -€8,646 | -5.6% |
| Amounts payable | 17/49 | €7,703,422 | €8,763,493 | +€1.1m | +13.8% |
| Amounts payable after more than one year | 17 | €3,471,842 | €2,898,722 | -€573,119 | -16.5% |
| Financial debts | 170/4 | €3,471,842 | €2,898,722 | -€573,119 | -16.5% |
| Amounts payable within one year | 42/48 | €4,231,581 | €5,864,770 | +€1.6m | +38.6% |
| Current portion of amounts payable after more than one year | 42 | €570,652 | €573,119 | +€2,468 | +0.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,519 | €19,043 | +€8,523 | +81.0% |
| Suppliers | 440/4 | €10,519 | €19,043 | +€8,523 | +81.0% |
| Taxes, remuneration and social security | 45 | €0 | €836 | +€836 | |
| Taxes | 450/3 | €0 | €836 | +€836 | |
| Other amounts payable | 47/48 | €3,650,410 | €5,271,773 | +€1.6m | +44.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,144 | €216,334 | +€6,190 | +2.9% |
| Other operating charges | 640/8 | €21,752 | €19,460 | -€2,292 | -10.5% |
| Gross operating margin | 9900 | €290,881 | €294,510 | +€3,629 | +1.2% |
| Operating profit (loss) | 9901 | €58,985 | €58,716 | -€269 | -0.5% |
| Financial income | 75/76B | €1,003,848 | €513,482 | -€490,367 | -48.8% |
| Recurring financial income | 75 | €1,003,848 | €513,482 | -€490,367 | -48.8% |
| Financial charges | 65/66B | €118,574 | €235,913 | +€117,339 | +99.0% |
| Recurring financial charges | 65 | €118,574 | €235,913 | +€117,339 | +99.0% |
| Profit (loss) for the period before taxes | 9903 | €944,260 | €336,284 | -€607,975 | -64.4% |
| Transfer from deferred taxes | 780 | €8,646 | €8,646 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €9,704 | €373 | -€9,331 | -96.2% |
| Profit (loss) for the period | 9904 | €943,201 | €344,557 | -€598,644 | -63.5% |
| Transfer from tax-exempt reserves | 789 | €25,907 | €25,907 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €969,108 | €370,464 | -€598,644 | -61.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.