GV-Lex: 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-Lex
Largest movements
- Receivables within one year +€8,760
up €8,760 (+52.3%), from €16,763 to €25,523
of which Other amounts receivable: +€8,760
- Cash +€3,915
up €3,915 (+138%), from €2,841 to €6,756
mainly Net result for the year (+€20,168) and Other debts (+€12,000)
- Other debts +€12,000
new in 2025: €12,000
- Profit (loss) carried forward +€7,885
no longer reported in 2025 (was -€7,885)
- Tax, wage and social debts -€7,063
down €7,063 (-52.7%), from €13,397 to €6,334
- Trade debts -€385
down €385 (-17.9%), from €2,150 to €1,764
- Gross operating margin +€27,363
up €27,363, from -€5,018 to €22,346
- Depreciation -€1,635
no longer reported in 2025 (was €1,635)
- Taxes +€959
up €959 (+669%), from €143 to €1,102
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 | €20,386 | €33,107 | +€12,720 | +62.4% |
| Current assets | 29/58 | €20,386 | €33,107 | +€12,720 | +62.4% |
| Amounts receivable within one year | 40/41 | €16,763 | €25,523 | +€8,760 | +52.3% |
| Trade receivables | 40 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 41 | €6,763 | €15,523 | +€8,760 | +130% |
| Cash at bank and in hand | 54/58 | €2,841 | €6,756 | +€3,915 | +138% |
| Deferred charges and accrued income | 490/1 | €782 | €827 | +€45 | +5.8% |
| Total equity and liabilities | 10/49 | €20,386 | €33,107 | +€12,720 | +62.4% |
| Equity | 10/15 | €4,840 | €13,008 | +€8,168 | +169% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €324 | €608 | +€284 | +87.4% |
| Distributable reserves | 133 | €324 | €608 | +€284 | +87.4% |
| Profit (loss) carried forward | 14 | -€7,885 | - | +€7,885 | |
| Amounts payable | 17/49 | €15,547 | €20,098 | +€4,552 | +29.3% |
| Amounts payable within one year | 42/48 | €15,547 | €20,098 | +€4,552 | +29.3% |
| Trade debts | 44 | €2,150 | €1,764 | -€385 | -17.9% |
| Suppliers | 440/4 | €2,150 | €1,764 | -€385 | -17.9% |
| Taxes, remuneration and social security | 45 | €13,397 | €6,334 | -€7,063 | -52.7% |
| Taxes | 450/3 | €13,397 | €6,334 | -€7,063 | -52.7% |
| Other amounts payable | 47/48 | - | €12,000 | +€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,635 | - | -€1,635 | |
| Other operating charges | 640/8 | €967 | €996 | +€30 | +3.1% |
| Gross operating margin | 9900 | -€5,018 | €22,346 | +€27,363 | |
| Operating profit (loss) | 9901 | -€7,619 | €21,349 | +€28,969 | |
| Financial charges | 65/66B | €122 | €79 | -€44 | -35.7% |
| Recurring financial charges | 65 | €122 | €79 | -€44 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,741 | €21,271 | +€29,012 | |
| Income taxes | 67/77 | €143 | €1,102 | +€959 | +669% |
| Profit (loss) for the period | 9904 | -€7,885 | €20,168 | +€28,053 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,885 | €20,168 | +€28,053 |
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 13 October 2026 via checked.be.