GV CONSULT: 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 CONSULT
Largest movements
- Receivables within one year -€86,189
down €86,189 (-53.6%), from €160,780 to €74,591
of which Trade receivables: -€65,815
- Cash +€36,776
up €36,776 (+27.8%), from €132,505 to €169,281
mainly Receivables within one year (+€86,189) and Net result for the year (+€69,662)
- Tangible fixed assets -€7,064
down €7,064 (-2.7%), from €259,709 to €252,645
of which Land and buildings: -€7,585
- Deferred charges and accrued income -€6,000
down €6,000 (-84.3%), from €7,117 to €1,117
- Trade debts -€81,552
down €81,552 (-89.1%), from €91,529 to €9,977
- Reserves +€69,600
up €69,600 (+42.8%), from €162,600 to €232,200
of which Distributable reserves: +€69,600
- Other debts -€28,500
no longer reported in 2025 (was €28,500)
- Tax, wage and social debts -€10,242
down €10,242 (-33.5%), from €30,609 to €20,368
of which Taxes: -€9,602
- Debts after one year -€8,758
down €8,758 (-4.1%), from €214,424 to €205,666
- Provisions +€22,346
no longer reported in 2025 (was -€22,346)
- Financial charges -€21,462
down €21,462 (-71.2%), from €30,134 to €8,672
- Financial income +€1,884
up €1,884 (+602.7%), from €313 to €2,197
- Gross operating margin -€1,370
down €1,370 (-1.2%), from €114,639 to €113,269
- Depreciation -€1,267
down €1,267 (-12.7%), from €9,976 to €8,709
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 | €560,195 | €497,719 | -€62,477 | -11.2% |
| Fixed assets | 21/28 | €259,794 | €252,731 | -€7,064 | -2.7% |
| Tangible fixed assets | 22/27 | €259,709 | €252,645 | -€7,064 | -2.7% |
| Land and buildings | 22 | €257,914 | €250,329 | -€7,585 | -2.9% |
| Plant, machinery and equipment | 23 | €652 | €482 | -€170 | -26.1% |
| Furniture and vehicles | 24 | €1,143 | €1,834 | +€691 | +60.5% |
| Financial fixed assets | 28 | €86 | €86 | = | 0.0% |
| Current assets | 29/58 | €300,401 | €244,988 | -€55,413 | -18.4% |
| Amounts receivable within one year | 40/41 | €160,780 | €74,591 | -€86,189 | -53.6% |
| Trade receivables | 40 | €134,216 | €68,401 | -€65,815 | -49.0% |
| Other amounts receivable | 41 | €26,563 | €6,189 | -€20,374 | -76.7% |
| Cash at bank and in hand | 54/58 | €132,505 | €169,281 | +€36,776 | +27.8% |
| Deferred charges and accrued income | 490/1 | €7,117 | €1,117 | -€6,000 | -84.3% |
| Total equity and liabilities | 10/49 | €560,195 | €497,719 | -€62,477 | -11.2% |
| Equity | 10/15 | €183,289 | €252,951 | +€69,662 | +38.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €162,600 | €232,200 | +€69,600 | +42.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €160,600 | €230,200 | +€69,600 | +43.3% |
| Profit (loss) carried forward | 14 | €689 | €751 | +€62 | +8.9% |
| Amounts payable | 17/49 | €376,906 | €244,768 | -€132,138 | -35.1% |
| Amounts payable after more than one year | 17 | €214,424 | €205,666 | -€8,758 | -4.1% |
| Financial debts | 170/4 | €214,424 | €205,666 | -€8,758 | -4.1% |
| Amounts payable within one year | 42/48 | €162,482 | €39,102 | -€123,381 | -75.9% |
| Current portion of amounts payable after more than one year | 42 | €11,845 | €8,758 | -€3,087 | -26.1% |
| Trade debts | 44 | €91,529 | €9,977 | -€81,552 | -89.1% |
| Suppliers | 440/4 | €91,529 | €9,977 | -€81,552 | -89.1% |
| Taxes, remuneration and social security | 45 | €30,609 | €20,368 | -€10,242 | -33.5% |
| Taxes | 450/3 | €29,969 | €20,368 | -€9,602 | -32.0% |
| Remuneration and social security | 454/9 | €640 | - | -€640 | |
| Other amounts payable | 47/48 | €28,500 | - | -€28,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,976 | €8,709 | -€1,267 | -12.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€22,346 | - | +€22,346 | |
| Other operating charges | 640/8 | €1,344 | €1,409 | +€65 | +4.8% |
| Gross operating margin | 9900 | €114,639 | €113,269 | -€1,370 | -1.2% |
| Operating profit (loss) | 9901 | €125,665 | €103,151 | -€22,514 | -17.9% |
| Financial income | 75/76B | €313 | €2,197 | +€1,884 | +602.7% |
| Recurring financial income | 75 | €313 | €2,197 | +€1,884 | +602.7% |
| Financial charges | 65/66B | €30,134 | €8,672 | -€21,462 | -71.2% |
| Recurring financial charges | 65 | €30,134 | €8,672 | -€21,462 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €95,843 | €96,676 | +€833 | +0.9% |
| Income taxes | 67/77 | €27,000 | €27,014 | +€14 | +0.1% |
| Profit (loss) for the period | 9904 | €68,843 | €69,662 | +€819 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €68,843 | €69,662 | +€819 | +1.2% |
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 6 October 2026 via checked.be.