GV GROUP: 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 GROUP
Largest movements
- Receivables within one year +€53,357
up €53,357 (+25.6%), from €208,691 to €262,048
of which Trade receivables: +€57,162
- Intangible fixed assets -€13,619
down €13,619 (-12.2%), from €111,723 to €98,104
- Deferred charges and accrued income +€6,898
up €6,898 (+3,832,267%), from €0 to €6,898
- Reserves +€31,655
up €31,655 (+46.0%), from €68,795 to €100,450
- Debts after one year -€22,976
down €22,976 (-32.1%), from €71,480 to €48,504
- Trade debts +€21,050
up €21,050 (+12.2%), from €172,612 to €193,662
- Tax, wage and social debts +€20,547
up €20,547 (+141%), from €14,521 to €35,068
of which Taxes: +€17,275
- Gross operating margin +€60,196
up €60,196 (+54.2%), from €111,075 to €171,271
- Taxes +€12,131
up €12,131 (+430%), from €2,824 to €14,956
- Staff costs +€11,406
up €11,406 (+14.9%), from €76,561 to €87,967
- Financial charges +€4,441
up €4,441 (+45.4%), from €9,778 to €14,219
- Other operating charges +€3,607
up €3,607 (+110%), from €3,286 to €6,893
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 | €372,407 | €418,660 | +€46,253 | +12.4% |
| Fixed assets | 21/28 | €149,664 | €131,920 | -€17,744 | -11.9% |
| Intangible fixed assets | 21 | €111,723 | €98,104 | -€13,619 | -12.2% |
| Tangible fixed assets | 22/27 | €35,942 | €33,816 | -€2,126 | -5.9% |
| Land and buildings | 22 | €18,743 | €16,660 | -€2,083 | -11.1% |
| Plant, machinery and equipment | 23 | €927 | €787 | -€141 | -15.2% |
| Furniture and vehicles | 24 | €1,900 | €3,412 | +€1,512 | +79.6% |
| Other tangible fixed assets | 26 | €14,371 | €12,957 | -€1,414 | -9.8% |
| Financial fixed assets | 28 | €2,000 | - | -€2,000 | |
| Current assets | 29/58 | €222,743 | €286,740 | +€63,997 | +28.7% |
| Amounts receivable within one year | 40/41 | €208,691 | €262,048 | +€53,357 | +25.6% |
| Trade receivables | 40 | €173,491 | €230,652 | +€57,162 | +32.9% |
| Other amounts receivable | 41 | €35,201 | €31,396 | -€3,804 | -10.8% |
| Cash at bank and in hand | 54/58 | €14,051 | €17,793 | +€3,742 | +26.6% |
| Deferred charges and accrued income | 490/1 | €0 | €6,898 | +€6,898 | +3,832,267% |
| Total equity and liabilities | 10/49 | €372,407 | €418,660 | +€46,253 | +12.4% |
| Equity | 10/15 | €86,795 | €118,450 | +€31,655 | +36.5% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €68,795 | €100,450 | +€31,655 | +46.0% |
| Distributable reserves | 133 | €68,795 | €100,450 | +€31,655 | +46.0% |
| Amounts payable | 17/49 | €285,613 | €300,210 | +€14,597 | +5.1% |
| Amounts payable after more than one year | 17 | €71,480 | €48,504 | -€22,976 | -32.1% |
| Financial debts | 170/4 | €71,480 | €48,504 | -€22,976 | -32.1% |
| Amounts payable within one year | 42/48 | €214,133 | €251,706 | +€37,573 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €27,000 | €22,976 | -€4,025 | -14.9% |
| Trade debts | 44 | €172,612 | €193,662 | +€21,050 | +12.2% |
| Suppliers | 440/4 | €172,612 | €193,662 | +€21,050 | +12.2% |
| Taxes, remuneration and social security | 45 | €14,521 | €35,068 | +€20,547 | +141% |
| Taxes | 450/3 | €7,356 | €24,631 | +€17,275 | +235% |
| Remuneration and social security | 454/9 | €7,165 | €10,437 | +€3,272 | +45.7% |
| Remuneration, social security and pensions | 62 | €76,561 | €87,967 | +€11,406 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,410 | €18,554 | +€145 | +0.8% |
| Other operating charges | 640/8 | €3,286 | €6,893 | +€3,607 | +110% |
| Gross operating margin | 9900 | €111,075 | €171,271 | +€60,196 | +54.2% |
| Operating profit (loss) | 9901 | €12,819 | €57,858 | +€45,039 | +351% |
| Financial income | 75/76B | €1,197 | €2,972 | +€1,776 | +148% |
| Recurring financial income | 75 | €1,197 | €2,972 | +€1,776 | +148% |
| Financial charges | 65/66B | €9,778 | €14,219 | +€4,441 | +45.4% |
| Recurring financial charges | 65 | €9,778 | €14,219 | +€4,441 | +45.4% |
| Profit (loss) for the period before taxes | 9903 | €4,238 | €46,611 | +€42,373 | +1,000% |
| Income taxes | 67/77 | €2,824 | €14,956 | +€12,131 | +430% |
| Profit (loss) for the period | 9904 | €1,413 | €31,655 | +€30,242 | +2,140% |
| Profit (loss) for the period to be appropriated | 9905 | €1,413 | €31,655 | +€30,242 | +2,140% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.