GV Management: 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 Management
Largest movements
- Receivables within one year +€54,777
up €54,777 (+12654.8%), from €433 to €55,210
of which Trade receivables: +€40,535
- Cash -€16,548
down €16,548 (-71.0%), from €23,321 to €6,773
mainly Receivables within one year (-€54,777)
- Deferred charges and accrued income -€3,759
down €3,759 (-89.9%), from €4,179 to €420
- Tangible fixed assets -€1,153
down €1,153 (-20.0%), from €5,759 to €4,606
of which Furniture and vehicles: -€596
- Reserves +€18,713
up €18,713 (+130.7%), from €14,312 to €33,025
- Trade debts +€13,063
up €13,063 (+752.4%), from €1,736 to €14,799
- Tax, wage and social debts +€1,256
up €1,256 (+10.5%), from €11,986 to €13,242
- Gross operating margin +€22,891
up €22,891 (+249.6%), from €9,172 to €32,063
- Taxes +€6,173
up €6,173 (+208.1%), from €2,967 to €9,140
- Financial charges +€2,070
up €2,070 (+1982.3%), from €104 to €2,174
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 | €33,692 | €67,009 | +€33,317 | +98.9% |
| Fixed assets | 21/28 | €5,759 | €4,606 | -€1,153 | -20.0% |
| Tangible fixed assets | 22/27 | €5,759 | €4,606 | -€1,153 | -20.0% |
| Land and buildings | 22 | €1,970 | €1,768 | -€202 | -10.3% |
| Plant, machinery and equipment | 23 | €867 | €512 | -€355 | -41.0% |
| Furniture and vehicles | 24 | €2,922 | €2,326 | -€596 | -20.4% |
| Current assets | 29/58 | €27,933 | €62,404 | +€34,471 | +123.4% |
| Amounts receivable within one year | 40/41 | €433 | €55,210 | +€54,777 | +12654.8% |
| Trade receivables | 40 | - | €40,535 | +€40,535 | |
| Other amounts receivable | 41 | €433 | €14,675 | +€14,242 | +3290.3% |
| Cash at bank and in hand | 54/58 | €23,321 | €6,773 | -€16,548 | -71.0% |
| Deferred charges and accrued income | 490/1 | €4,179 | €420 | -€3,759 | -89.9% |
| Total equity and liabilities | 10/49 | €33,692 | €67,009 | +€33,317 | +98.9% |
| Equity | 10/15 | €18,312 | €37,025 | +€18,713 | +102.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €14,312 | €33,025 | +€18,713 | +130.7% |
| Distributable reserves | 133 | €14,312 | €33,025 | +€18,713 | +130.7% |
| Amounts payable | 17/49 | €15,380 | €29,984 | +€14,605 | +95.0% |
| Amounts payable within one year | 42/48 | €15,380 | €29,698 | +€14,319 | +93.1% |
| Trade debts | 44 | €1,736 | €14,799 | +€13,063 | +752.4% |
| Suppliers | 440/4 | €1,736 | €14,799 | +€13,063 | +752.4% |
| Taxes, remuneration and social security | 45 | €11,986 | €13,242 | +€1,256 | +10.5% |
| Taxes | 450/3 | €11,986 | €13,242 | +€1,256 | +10.5% |
| Other amounts payable | 47/48 | €1,657 | €1,657 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €286 | +€286 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,003 | €1,153 | +€150 | +14.9% |
| Other operating charges | 640/8 | €887 | €883 | -€4 | -0.4% |
| Gross operating margin | 9900 | €9,172 | €32,063 | +€22,891 | +249.6% |
| Operating profit (loss) | 9901 | €7,281 | €30,027 | +€22,746 | +312.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €104 | €2,174 | +€2,070 | +1982.3% |
| Recurring financial charges | 65 | €104 | €2,174 | +€2,070 | +1982.3% |
| Profit (loss) for the period before taxes | 9903 | €7,177 | €27,853 | +€20,676 | +288.1% |
| Income taxes | 67/77 | €2,967 | €9,140 | +€6,173 | +208.1% |
| Profit (loss) for the period | 9904 | €4,210 | €18,713 | +€14,503 | +344.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,210 | €18,713 | +€14,503 | +344.5% |
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 9 October 2026 via checked.be.