GNGVO: 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.
GNGVO
Largest movements
- Tangible fixed assets +€655,697
up €655,697 (+1,013%), from €64,732 to €720,429
of which Land and buildings: +€705,581
- Cash +€258,521
up €258,521 (+385%), from €67,077 to €325,597
mainly Debts after one year (+€678,840) and Other debts (+€189,018)
- Receivables within one year -€30,095
down €30,095 (-100%), from €30,095 to €0
of which Trade receivables: -€30,095
- Debts after one year +€678,840
up €678,840 (+3,725%), from €18,224 to €697,064
- Other debts +€189,018
up €189,018 (+222%), from €85,116 to €274,134
- Current portion of long-term debt +€31,673
up €31,673 (+164%), from €19,327 to €51,000
- Profit (loss) carried forward -€11,797
down €11,797 (-100%), from €11,797 to €0
- Other operating charges +€86,085
up €86,085 (+5,289%), from €1,627 to €87,713
- Gross operating margin +€60,450
up €60,450 (+23.3%), from €259,596 to €320,046
- Depreciation -€15,485
down €15,485 (-80.8%), from €19,169 to €3,684
- Taxes -€3,429
down €3,429 (-5.9%), from €57,697 to €54,268
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 | €162,413 | €1,046,731 | +€884,317 | +544% |
| Fixed assets | 21/28 | €64,732 | €720,429 | +€655,697 | +1,013% |
| Tangible fixed assets | 22/27 | €64,732 | €720,429 | +€655,697 | +1,013% |
| Land and buildings | 22 | €1,567 | €707,148 | +€705,581 | +45,023% |
| Furniture and vehicles | 24 | €54,944 | €5,747 | -€49,196 | -89.5% |
| Other tangible fixed assets | 26 | €8,221 | €7,533 | -€688 | -8.4% |
| Current assets | 29/58 | €97,681 | €326,302 | +€228,620 | +234% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €30,095 | €0 | -€30,095 | -100% |
| Trade receivables | 40 | €30,095 | €0 | -€30,095 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €67,077 | €325,597 | +€258,521 | +385% |
| Deferred charges and accrued income | 490/1 | €510 | €705 | +€195 | +38.3% |
| Total equity and liabilities | 10/49 | €162,413 | €1,046,731 | +€884,317 | +544% |
| Equity | 10/15 | €14,797 | €3,000 | -€11,797 | -79.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,797 | €0 | -€11,797 | -100% |
| Amounts payable | 17/49 | €147,617 | €1,043,731 | +€896,114 | +607% |
| Amounts payable after more than one year | 17 | €18,224 | €697,064 | +€678,840 | +3,725% |
| Financial debts | 170/4 | €18,224 | €697,064 | +€678,840 | +3,725% |
| Amounts payable within one year | 42/48 | €125,979 | €345,619 | +€219,640 | +174% |
| Current portion of amounts payable after more than one year | 42 | €19,327 | €51,000 | +€31,673 | +164% |
| Trade debts | 44 | €4,126 | €878 | -€3,247 | -78.7% |
| Suppliers | 440/4 | €4,126 | €878 | -€3,247 | -78.7% |
| Taxes, remuneration and social security | 45 | €17,410 | €19,607 | +€2,196 | +12.6% |
| Taxes | 450/3 | €17,410 | €19,607 | +€2,196 | +12.6% |
| Other amounts payable | 47/48 | €85,116 | €274,134 | +€189,018 | +222% |
| Accrued charges and deferred income | 492/3 | €3,413 | €1,048 | -€2,366 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,169 | €3,684 | -€15,485 | -80.8% |
| Other operating charges | 640/8 | €1,627 | €87,713 | +€86,085 | +5,289% |
| Non-recurring operating charges | 66A | - | €11,061 | +€11,061 | |
| Gross operating margin | 9900 | €259,596 | €320,046 | +€60,450 | +23.3% |
| Operating profit (loss) | 9901 | €238,799 | €217,588 | -€21,212 | -8.9% |
| Financial income | 75/76B | €1,102 | €1,839 | +€737 | +66.8% |
| Recurring financial income | 75 | €1,102 | €1,839 | +€737 | +66.8% |
| Financial charges | 65/66B | €5,318 | €4,737 | -€582 | -10.9% |
| Recurring financial charges | 65 | €5,318 | €4,737 | -€582 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €234,583 | €214,690 | -€19,893 | -8.5% |
| Income taxes | 67/77 | €57,697 | €54,268 | -€3,429 | -5.9% |
| Profit (loss) for the period | 9904 | €176,886 | €160,422 | -€16,464 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €176,886 | €160,422 | -€16,464 | -9.3% |
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.