GNVH: 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.
GNVH
Largest movements
- Current investments -€318,188
down €318,188 (-11.6%), from €2.7m to €2.4m
- Cash +€88,288
up €88,288 (+347%), from €25,476 to €113,763
mainly Current investments (+€318,188) and Trade debts (+€5,294)
- Profit (loss) carried forward -€233,722
down €233,722 (-449%), from -€52,033 to -€285,755
- Gross operating margin +€83,015
up €83,015 (+23.4%), from -€355,139 to -€272,124
- Staff costs -€61,102
no longer reported in 2025 (was €61,102)
- Taxes -€32,970
no longer reported in 2025 (was €32,970)
- Financial income +€25,743
up €25,743 (+137%), from €18,845 to €44,589
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 | €2,777,161 | €2,550,127 | -€227,034 | -8.2% |
| Fixed assets | 21/28 | €257 | €257 | = | 0.0% |
| Financial fixed assets | 28 | €257 | €257 | = | 0.0% |
| Current assets | 29/58 | €2,776,904 | €2,549,870 | -€227,034 | -8.2% |
| Amounts receivable within one year | 40/41 | €2,782 | €5,648 | +€2,867 | +103% |
| Other amounts receivable | 41 | €2,782 | €5,648 | +€2,867 | +103% |
| Current investments | 50/53 | €2,748,647 | €2,430,459 | -€318,188 | -11.6% |
| Cash at bank and in hand | 54/58 | €25,476 | €113,763 | +€88,288 | +347% |
| Total equity and liabilities | 10/49 | €2,777,161 | €2,550,127 | -€227,034 | -8.2% |
| Equity | 10/15 | €1,267,967 | €1,034,245 | -€233,722 | -18.4% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €120,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,033 | -€285,755 | -€233,722 | -449% |
| Provisions and deferred taxes | 16 | €500,000 | €500,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €500,000 | €500,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,009,194 | €1,015,882 | +€6,688 | +0.7% |
| Amounts payable within one year | 42/48 | €1,007,739 | €1,014,518 | +€6,778 | +0.7% |
| Trade debts | 44 | €16,178 | €21,472 | +€5,294 | +32.7% |
| Suppliers | 440/4 | €16,178 | €21,472 | +€5,294 | +32.7% |
| Taxes, remuneration and social security | 45 | €624 | €585 | -€39 | -6.2% |
| Taxes | 450/3 | €624 | €585 | -€39 | -6.2% |
| Other amounts payable | 47/48 | €990,938 | €992,461 | +€1,522 | +0.2% |
| Accrued charges and deferred income | 492/3 | €1,455 | €1,365 | -€90 | -6.2% |
| Remuneration, social security and pensions | 62 | €61,102 | - | -€61,102 | |
| Other operating charges | 640/8 | €276 | €278 | +€2 | +0.7% |
| Gross operating margin | 9900 | -€355,139 | -€272,124 | +€83,015 | +23.4% |
| Operating profit (loss) | 9901 | -€416,517 | -€272,402 | +€144,115 | +34.6% |
| Financial income | 75/76B | €18,845 | €44,589 | +€25,743 | +137% |
| Recurring financial income | 75 | €18,845 | €44,589 | +€25,743 | +137% |
| Financial charges | 65/66B | €6,172 | €5,909 | -€263 | -4.3% |
| Recurring financial charges | 65 | €6,172 | €5,909 | -€263 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€403,844 | -€233,722 | +€170,122 | +42.1% |
| Income taxes | 67/77 | €32,970 | - | -€32,970 | |
| Profit (loss) for the period | 9904 | -€436,814 | -€233,722 | +€203,092 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€436,814 | -€233,722 | +€203,092 | +46.5% |
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 18 October 2026 via checked.be.