GV CAVOK: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
GV CAVOK
Largest movements
- Cash +€557,323
up €557,323 (+1,018%), from €54,744 to €612,066
mainly Other debts (+€360,000) and Net result for the year (+€288,304)
- Receivables within one year +€241,591
up €241,591 (+127%), from €190,262 to €431,853
of which Trade receivables: +€303,396
- Tangible fixed assets -€196,526
down €196,526 (-23.3%), from €843,147 to €646,621
of which Furniture and vehicles: -€193,501
- Other debts +€360,000
up €360,000 (+169%), from €212,592 to €572,592
- Reserves +€317,723
up €317,723 (+188%), from €169,210 to €486,933
of which Tax-exempt reserves: +€317,723
- Debts after one year -€145,000
down €145,000 (-85.3%), from €170,000 to €25,000
of which Financial debts: -€150,000
- Provisions +€105,908
new in 2025: €105,908
- Profit (loss) carried forward -€29,419
down €29,419 (-8.7%), from €336,810 to €307,391
- Gross operating margin +€459,571
up €459,571 (+501%), from €91,644 to €551,215
- Depreciation -€28,820
down €28,820 (-16.3%), from €176,582 to €147,761
- Taxes +€5,773
no longer reported in 2025 (was -€5,773)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,108,667 | €1,716,508 | +€607,841 | +54.8% |
| Fixed assets | 21/28 | €843,217 | €646,691 | -€196,526 | -23.3% |
| Tangible fixed assets | 22/27 | €843,147 | €646,621 | -€196,526 | -23.3% |
| Land and buildings | 22 | €42,350 | €39,325 | -€3,025 | -7.1% |
| Furniture and vehicles | 24 | €800,797 | €607,296 | -€193,501 | -24.2% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €265,450 | €1,069,817 | +€804,368 | +303% |
| Amounts receivable within one year | 40/41 | €190,262 | €431,853 | +€241,591 | +127% |
| Trade receivables | 40 | €60,852 | €364,249 | +€303,396 | +499% |
| Other amounts receivable | 41 | €129,410 | €67,605 | -€61,805 | -47.8% |
| Cash at bank and in hand | 54/58 | €54,744 | €612,066 | +€557,323 | +1,018% |
| Deferred charges and accrued income | 490/1 | €20,444 | €25,898 | +€5,454 | +26.7% |
| Total equity and liabilities | 10/49 | €1,108,667 | €1,716,508 | +€607,841 | +54.8% |
| Equity | 10/15 | €724,620 | €1,012,923 | +€288,304 | +39.8% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Reserves | 13 | €169,210 | €486,933 | +€317,723 | +188% |
| Tax-exempt reserves | 132 | €147,350 | €465,073 | +€317,723 | +216% |
| Distributable reserves | 133 | €21,860 | €21,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €336,810 | €307,391 | -€29,419 | -8.7% |
| Provisions and deferred taxes | 16 | - | €105,908 | +€105,908 | |
| Deferred taxes | 168 | - | €105,908 | +€105,908 | |
| Amounts payable | 17/49 | €384,047 | €597,677 | +€213,630 | +55.6% |
| Amounts payable after more than one year | 17 | €170,000 | €25,000 | -€145,000 | -85.3% |
| Financial debts | 170/4 | €150,000 | - | -€150,000 | |
| Other amounts payable | 178/9 | €20,000 | €25,000 | +€5,000 | +25.0% |
| Amounts payable within one year | 42/48 | €212,592 | €572,592 | +€360,000 | +169% |
| Other amounts payable | 47/48 | €212,592 | €572,592 | +€360,000 | +169% |
| Accrued charges and deferred income | 492/3 | €1,455 | €85 | -€1,370 | -94.1% |
| Non-recurring operating income | 76A | - | €508,175 | +€508,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,582 | €147,761 | -€28,820 | -16.3% |
| Other operating charges | 640/8 | €5,697 | €9,132 | +€3,435 | +60.3% |
| Gross operating margin | 9900 | €91,644 | €551,215 | +€459,571 | +501% |
| Operating profit (loss) | 9901 | -€90,634 | €394,322 | +€484,956 | |
| Financial income | 75/76B | €466 | - | -€466 | |
| Recurring financial income | 75 | €466 | - | -€466 | |
| Financial charges | 65/66B | €103 | €111 | +€8 | +7.7% |
| Recurring financial charges | 65 | €103 | €111 | +€8 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€90,271 | €394,211 | +€484,482 | |
| Transfer from deferred taxes | 780 | - | €8,587 | +€8,587 | |
| Transfer to deferred taxes | 680 | - | €114,495 | +€114,495 | |
| Income taxes | 67/77 | -€5,773 | - | +€5,773 | |
| Profit (loss) for the period | 9904 | -€84,498 | €288,304 | +€372,802 | |
| Transfer from tax-exempt reserves | 789 | €108,500 | €25,761 | -€82,739 | -76.3% |
| Transfer to tax-exempt reserves | 689 | - | €343,484 | +€343,484 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,002 | -€29,419 | -€53,421 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.