GV FINANCE: 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 FINANCE
Largest movements
- Cash +€392,033
up €392,033 (+83.3%), from €470,349 to €862,382
mainly Other debts (+€342,223) and Net result for the year (+€231,607)
- Current investments -€75,000
down €75,000 (-50.0%), from €150,000 to €75,000
- Other debts +€342,223
new in 2025: €342,223
- Tax, wage and social debts +€137,790
up €137,790 (+153%), from €89,855 to €227,644
of which Taxes: +€132,611
- Reserves -€136,595
down €136,595 (-44.2%), from €308,937 to €172,342
- Profit (loss) carried forward -€37,711
down €37,711 (-14.0%), from €269,318 to €231,607
- Gross operating margin -€44,615
down €44,615 (-11.9%), from €375,155 to €330,541
- Taxes -€6,498
down €6,498 (-7.2%), from €89,833 to €83,335
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 | €676,648 | €982,192 | +€305,544 | +45.2% |
| Fixed assets | 21/28 | €48,152 | €44,810 | -€3,342 | -6.9% |
| Tangible fixed assets | 22/27 | €48,152 | €44,810 | -€3,342 | -6.9% |
| Land and buildings | 22 | €33,598 | €25,931 | -€7,667 | -22.8% |
| Furniture and vehicles | 24 | €14,554 | €18,878 | +€4,325 | +29.7% |
| Current assets | 29/58 | €628,496 | €937,382 | +€308,886 | +49.1% |
| Amounts receivable within one year | 40/41 | €8,147 | - | -€8,147 | |
| Other amounts receivable | 41 | €8,147 | - | -€8,147 | |
| Current investments | 50/53 | €150,000 | €75,000 | -€75,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €470,349 | €862,382 | +€392,033 | +83.3% |
| Total equity and liabilities | 10/49 | €676,648 | €982,192 | +€305,544 | +45.2% |
| Equity | 10/15 | €583,255 | €408,949 | -€174,306 | -29.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €308,937 | €172,342 | -€136,595 | -44.2% |
| Distributable reserves | 133 | €308,937 | €172,342 | -€136,595 | -44.2% |
| Profit (loss) carried forward | 14 | €269,318 | €231,607 | -€37,711 | -14.0% |
| Amounts payable | 17/49 | €93,392 | €573,242 | +€479,850 | +514% |
| Amounts payable within one year | 42/48 | €93,392 | €573,242 | +€479,850 | +514% |
| Trade debts | 44 | €3,538 | €3,375 | -€163 | -4.6% |
| Suppliers | 440/4 | €3,538 | €3,375 | -€163 | -4.6% |
| Taxes, remuneration and social security | 45 | €89,855 | €227,644 | +€137,790 | +153% |
| Taxes | 450/3 | €89,833 | €222,444 | +€132,611 | +148% |
| Remuneration and social security | 454/9 | €22 | €5,200 | +€5,178 | +23,753% |
| Other amounts payable | 47/48 | - | €342,223 | +€342,223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,567 | €13,210 | +€2,642 | +25.0% |
| Other operating charges | 640/8 | €1,685 | €2,525 | +€840 | +49.9% |
| Gross operating margin | 9900 | €375,155 | €330,541 | -€44,615 | -11.9% |
| Operating profit (loss) | 9901 | €362,903 | €314,806 | -€48,097 | -13.3% |
| Financial income | 75/76B | €233 | €3,360 | +€3,127 | +1,342% |
| Recurring financial income | 75 | €233 | €3,360 | +€3,127 | +1,342% |
| Financial charges | 65/66B | €3,985 | €3,224 | -€761 | -19.1% |
| Recurring financial charges | 65 | €3,985 | €3,224 | -€761 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €359,151 | €314,942 | -€44,209 | -12.3% |
| Income taxes | 67/77 | €89,833 | €83,335 | -€6,498 | -7.2% |
| Profit (loss) for the period | 9904 | €269,318 | €231,607 | -€37,711 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €269,318 | €231,607 | -€37,711 | -14.0% |
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 1 November 2026 via checked.be.