GV: 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.
GV
Largest movements
- Intangible fixed assets -€11,500
down €11,500 (-100.0%), from €11,500 to €0
- Tangible fixed assets +€10,804
up €10,804 (+14.8%), from €72,887 to €83,691
of which Furniture and vehicles: +€12,720
- Cash +€10,751
up €10,751 (+147.2%), from €7,304 to €18,055
mainly Depreciation (+€29,457) and Other debts (+€17,567)
- Other debts +€17,567
up €17,567 (+3729.5%), from €471 to €18,038
- Debts after one year -€13,506
down €13,506 (-6.0%), from €223,430 to €209,924
- Profit (loss) carried forward +€6,275
up €6,275 (+4.2%), from -€148,099 to -€141,824
- Depreciation +€10,380
up €10,380 (+54.4%), from €19,076 to €29,457
- Gross operating margin -€8,052
down €8,052 (-15.8%), from €50,850 to €42,797
- Financial charges +€1,859
up €1,859 (+39.0%), from €4,767 to €6,626
- Other operating charges -€1,792
down €1,792 (-64.5%), from €2,780 to €987
- Taxes -€809
down €809 (-80.9%), from €1,000 to €191
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,683 | €122,752 | +€12,069 | +10.9% |
| Fixed assets | 21/28 | €85,437 | €84,741 | -€696 | -0.8% |
| Intangible fixed assets | 21 | €11,500 | €0 | -€11,500 | -100.0% |
| Tangible fixed assets | 22/27 | €72,887 | €83,691 | +€10,804 | +14.8% |
| Plant, machinery and equipment | 23 | €11,996 | €11,166 | -€830 | -6.9% |
| Furniture and vehicles | 24 | €57,395 | €70,115 | +€12,720 | +22.2% |
| Other tangible fixed assets | 26 | €3,496 | €2,410 | -€1,086 | -31.1% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €25,246 | €38,011 | +€12,765 | +50.6% |
| Stocks and contracts in progress | 3 | €5,786 | €6,582 | +€796 | +13.7% |
| Stocks | 30/36 | €5,786 | €6,582 | +€796 | +13.7% |
| Amounts receivable within one year | 40/41 | €12,155 | €13,373 | +€1,218 | +10.0% |
| Trade receivables | 40 | €12,155 | €10,165 | -€1,991 | -16.4% |
| Other amounts receivable | 41 | - | €3,209 | +€3,209 | |
| Cash at bank and in hand | 54/58 | €7,304 | €18,055 | +€10,751 | +147.2% |
| Total equity and liabilities | 10/49 | €110,683 | €122,752 | +€12,069 | +10.9% |
| Equity | 10/15 | -€127,639 | -€121,364 | +€6,275 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,099 | -€141,824 | +€6,275 | +4.2% |
| Amounts payable | 17/49 | €238,322 | €244,116 | +€5,793 | +2.4% |
| Amounts payable after more than one year | 17 | €223,430 | €209,924 | -€13,506 | -6.0% |
| Financial debts | 170/4 | €223,430 | €209,924 | -€13,506 | -6.0% |
| Amounts payable within one year | 42/48 | €14,547 | €34,192 | +€19,645 | +135.0% |
| Current portion of amounts payable after more than one year | 42 | €12,920 | €13,506 | +€587 | +4.5% |
| Trade debts | 44 | €139 | €928 | +€789 | +567.8% |
| Suppliers | 440/4 | €139 | €928 | +€789 | +567.8% |
| Taxes, remuneration and social security | 45 | €1,017 | €1,719 | +€701 | +68.9% |
| Taxes | 450/3 | €1,017 | €219 | -€799 | -78.5% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €471 | €18,038 | +€17,567 | +3729.5% |
| Accrued charges and deferred income | 492/3 | €345 | - | -€345 | |
| Non-recurring operating income | 76A | €691 | €2,479 | +€1,789 | +259.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,076 | €29,457 | +€10,380 | +54.4% |
| Other operating charges | 640/8 | €2,780 | €987 | -€1,792 | -64.5% |
| Non-recurring operating charges | 66A | €2,930 | - | -€2,930 | |
| Gross operating margin | 9900 | €50,850 | €42,797 | -€8,052 | -15.8% |
| Operating profit (loss) | 9901 | €26,064 | €12,354 | -€13,710 | -52.6% |
| Financial income | 75/76B | €2 | €739 | +€738 | +47891.6% |
| Recurring financial income | 75 | €2 | €739 | +€738 | +47891.6% |
| Financial charges | 65/66B | €4,767 | €6,626 | +€1,859 | +39.0% |
| Recurring financial charges | 65 | €4,767 | €6,626 | +€1,859 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €21,299 | €6,467 | -€14,832 | -69.6% |
| Income taxes | 67/77 | €1,000 | €191 | -€809 | -80.9% |
| Profit (loss) for the period | 9904 | €20,299 | €6,275 | -€14,023 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,299 | €6,275 | -€14,023 | -69.1% |
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 11 October 2026 via checked.be.