GV GROND: 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.
What changed
GV GROND
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€52,393
2024 · €160,485-€108,092
Equity
€243,223
2024 · €190,830+€52,393
Cash
€790
2024 · €21,329-€20,539
Balance sheet total
€16.1m
2024 · €10.4m+€5.8m
Largest movements
Assets
- Receivables within one year +€4.1m
up €4.1m (+76.4%), from €5.3m to €9.4m
of which Other amounts receivable: +€4.1m
- Stocks and contracts +€1.7m
up €1.7m (+34.7%), from €5.0m to €6.7m
Equity and liabilities
- Short-term financial debts +€5.6m
up €5.6m (+67.0%), from €8.4m to €14.0m
Income statement
- Gross operating margin -€132,856
down €132,856 (-60.5%), from €219,430 to €86,574
- Taxes -€31,657
down €31,657 (-65.3%), from €48,443 to €16,786
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.
Result 2024
€160,485
Gross operating margin
-€132,856
Other operating charges
-€1,077
Other operating items
-€4,275
Financial income
+€123
Financial charges
-€1,663
Taxes
+€31,657
Result 2025
€52,393
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€5.7m
Investment
+€19,467
Financing
+€5.6m
Cash 2024
€21,329
From operations (derived)
-€5.7m
Net result for the year
+€52,393
Stocks and contracts
-€1.7m
Receivables within one year
-€4.1m
Deferred charges and accrued income
+€197
Trade debts
+€152,074
Tax, wage and social debts
+€16,786
Advances received
-€133,000
Other debts
+€31,571
Accrued charges and deferred income
+€19,504
Investment (derived)
+€19,467
Investment in fixed assets (net)
+€19,467
Financing
+€5.6m
Short-term financial debts
+€5.6m
Cash 2025
€790
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,362,331 | €16,129,966 | +€5.8m | +55.7% |
| Fixed assets | 21/28 | €19,467 | - | -€19,467 | |
| Financial fixed assets | 28 | €19,467 | - | -€19,467 | |
| Current assets | 29/58 | €10,342,863 | €16,129,966 | +€5.8m | +56.0% |
| Stocks and contracts in progress | 3 | €4,984,169 | €6,713,921 | +€1.7m | +34.7% |
| Stocks | 30/36 | €4,984,169 | €6,713,921 | +€1.7m | +34.7% |
| Amounts receivable within one year | 40/41 | €5,337,169 | €9,415,256 | +€4.1m | +76.4% |
| Trade receivables | 40 | €1,501 | €1,501 | = | 0.0% |
| Other amounts receivable | 41 | €5,335,668 | €9,413,755 | +€4.1m | +76.4% |
| Cash at bank and in hand | 54/58 | €21,329 | €790 | -€20,539 | -96.3% |
| Deferred charges and accrued income | 490/1 | €197 | - | -€197 | |
| Total equity and liabilities | 10/49 | €10,362,331 | €16,129,966 | +€5.8m | +55.7% |
| Equity | 10/15 | €190,830 | €243,223 | +€52,393 | +27.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,180 | €175,573 | +€52,393 | +42.5% |
| Amounts payable | 17/49 | €10,171,500 | €15,886,743 | +€5.7m | +56.2% |
| Amounts payable within one year | 42/48 | €10,161,793 | €15,857,532 | +€5.7m | +56.1% |
| Financial debts | 43 | €8,395,960 | €14,024,268 | +€5.6m | +67.0% |
| Credit institutions | 430/8 | €8,395,960 | €14,024,268 | +€5.6m | +67.0% |
| Trade debts | 44 | €5,857 | €157,930 | +€152,074 | +2,597% |
| Suppliers | 440/4 | €5,857 | €157,930 | +€152,074 | +2,597% |
| Advances received on contracts in progress | 46 | €133,000 | - | -€133,000 | |
| Taxes, remuneration and social security | 45 | €48,443 | €65,230 | +€16,786 | +34.7% |
| Taxes | 450/3 | €48,443 | €65,230 | +€16,786 | +34.7% |
| Other amounts payable | 47/48 | €1,578,533 | €1,610,104 | +€31,571 | +2.0% |
| Accrued charges and deferred income | 492/3 | €9,707 | €29,211 | +€19,504 | +201% |
| Other operating charges | 640/8 | €1,030 | €2,107 | +€1,077 | +105% |
| Non-recurring operating charges | 66A | - | €4,275 | +€4,275 | |
| Gross operating margin | 9900 | €219,430 | €86,574 | -€132,856 | -60.5% |
| Operating profit (loss) | 9901 | €218,401 | €80,192 | -€138,209 | -63.3% |
| Financial income | 75/76B | - | €123 | +€123 | |
| Recurring financial income | 75 | - | €123 | +€123 | |
| Financial charges | 65/66B | €9,473 | €11,136 | +€1,663 | +17.6% |
| Recurring financial charges | 65 | €9,473 | €11,136 | +€1,663 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €208,928 | €69,179 | -€139,749 | -66.9% |
| Income taxes | 67/77 | €48,443 | €16,786 | -€31,657 | -65.3% |
| Profit (loss) for the period | 9904 | €160,485 | €52,393 | -€108,092 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €160,485 | €52,393 | -€108,092 | -67.4% |
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 16 October 2026 via checked.be.