GV-C: 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.
GV-C
Largest movements
- Receivables within one year +€22,982
up €22,982 (+40.9%), from €56,255 to €79,237
of which Other amounts receivable: +€25,600
- Tangible fixed assets +€22,883
up €22,883 (+1080.6%), from €2,118 to €25,000
- Cash +€9,113
up €9,113 (+120.2%), from €7,580 to €16,694
mainly Net result for the year (+€38,125) and Depreciation (+€12,500)
- Reserves +€38,125
up €38,125 (+65.2%), from €58,470 to €96,595
- Debts after one year +€11,257
new in 2025: €11,257
- Current portion of long-term debt +€4,853
new in 2025: €4,853
- Trade debts +€2,065
up €2,065 (+177.8%), from €1,162 to €3,226
- Tax, wage and social debts -€1,322
no longer reported in 2025 (was €1,322)
- Gross operating margin +€44,609
up €44,609 (+188.5%), from €23,669 to €68,279
- Taxes +€9,645
up €9,645 (+152.6%), from €6,322 to €15,967
- Depreciation +€8,870
up €8,870 (+244.4%), from €3,630 to €12,500
- Other operating charges +€2,190
up €2,190 (+1479.7%), from €148 to €2,338
- Financial charges +€1,984
up €1,984 (+1336.0%), from €148 to €2,132
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 | €65,953 | €120,931 | +€54,977 | +83.4% |
| Fixed assets | 21/28 | €2,118 | €25,000 | +€22,883 | +1080.6% |
| Tangible fixed assets | 22/27 | €2,118 | €25,000 | +€22,883 | +1080.6% |
| Furniture and vehicles | 24 | €2,118 | €25,000 | +€22,883 | +1080.6% |
| Current assets | 29/58 | €63,836 | €95,931 | +€32,095 | +50.3% |
| Amounts receivable within one year | 40/41 | €56,255 | €79,237 | +€22,982 | +40.9% |
| Trade receivables | 40 | €32,987 | €30,369 | -€2,618 | -7.9% |
| Other amounts receivable | 41 | €23,268 | €48,868 | +€25,600 | +110.0% |
| Cash at bank and in hand | 54/58 | €7,580 | €16,694 | +€9,113 | +120.2% |
| Total equity and liabilities | 10/49 | €65,953 | €120,931 | +€54,977 | +83.4% |
| Equity | 10/15 | €63,470 | €101,595 | +€38,125 | +60.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €58,470 | €96,595 | +€38,125 | +65.2% |
| Distributable reserves | 133 | €58,470 | €96,595 | +€38,125 | +65.2% |
| Amounts payable | 17/49 | €2,484 | €19,336 | +€16,852 | +678.5% |
| Amounts payable after more than one year | 17 | - | €11,257 | +€11,257 | |
| Financial debts | 170/4 | - | €11,257 | +€11,257 | |
| Amounts payable within one year | 42/48 | €2,484 | €8,079 | +€5,595 | +225.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,853 | +€4,853 | |
| Trade debts | 44 | €1,162 | €3,226 | +€2,065 | +177.8% |
| Suppliers | 440/4 | €1,162 | €3,226 | +€2,065 | +177.8% |
| Taxes, remuneration and social security | 45 | €1,322 | - | -€1,322 | |
| Taxes | 450/3 | €1,322 | - | -€1,322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,630 | €12,500 | +€8,870 | +244.4% |
| Other operating charges | 640/8 | €148 | €2,338 | +€2,190 | +1479.7% |
| Gross operating margin | 9900 | €23,669 | €68,279 | +€44,609 | +188.5% |
| Operating profit (loss) | 9901 | €19,891 | €53,441 | +€33,549 | +168.7% |
| Financial income | 75/76B | €2,105 | €2,784 | +€679 | +32.3% |
| Recurring financial income | 75 | €2,105 | €2,784 | +€679 | +32.3% |
| Financial charges | 65/66B | €148 | €2,132 | +€1,984 | +1336.0% |
| Recurring financial charges | 65 | €148 | €2,132 | +€1,984 | +1336.0% |
| Profit (loss) for the period before taxes | 9903 | €21,847 | €54,092 | +€32,245 | +147.6% |
| Income taxes | 67/77 | €6,322 | €15,967 | +€9,645 | +152.6% |
| Profit (loss) for the period | 9904 | €15,525 | €38,125 | +€22,600 | +145.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,525 | €38,125 | +€22,600 | +145.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.