GV MED: 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 MED
Largest movements
- Current investments +€60,000
new in 2025: €60,000
- Cash -€51,955
down €51,955 (-70.4%), from €73,770 to €21,815
mainly Current investments (-€60,000) and Tax, wage and social debts (-€20,108)
- Deferred charges and accrued income +€17,332
up €17,332 (+114.4%), from €15,147 to €32,478
- Receivables within one year +€12,676
up €12,676 (+2535.3%), from €500 to €13,176
- Tangible fixed assets -€6,000
down €6,000 (-24.6%), from €24,361 to €18,361
- Reserves +€64,216
up €64,216 (+92.1%), from €69,716 to €133,932
- Tax, wage and social debts -€20,108
down €20,108 (-64.5%), from €31,152 to €11,043
of which Taxes: -€22,470
- Other debts -€12,413
down €12,413 (-98.8%), from €12,565 to €152
- Gross operating margin -€10,774
down €10,774 (-9.9%), from €108,934 to €98,160
- Depreciation -€2,697
down €2,697 (-31.0%), from €8,697 to €6,000
- Taxes -€2,452
down €2,452 (-8.1%), from €30,366 to €27,914
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 | €113,778 | €145,830 | +€32,053 | +28.2% |
| Fixed assets | 21/28 | €24,361 | €18,361 | -€6,000 | -24.6% |
| Tangible fixed assets | 22/27 | €24,361 | €18,361 | -€6,000 | -24.6% |
| Furniture and vehicles | 24 | €24,361 | €18,361 | -€6,000 | -24.6% |
| Current assets | 29/58 | €89,417 | €127,470 | +€38,053 | +42.6% |
| Amounts receivable within one year | 40/41 | €500 | €13,176 | +€12,676 | +2535.3% |
| Other amounts receivable | 41 | €500 | €13,176 | +€12,676 | +2535.3% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €73,770 | €21,815 | -€51,955 | -70.4% |
| Deferred charges and accrued income | 490/1 | €15,147 | €32,478 | +€17,332 | +114.4% |
| Total equity and liabilities | 10/49 | €113,778 | €145,830 | +€32,053 | +28.2% |
| Equity | 10/15 | €69,717 | €133,933 | +€64,216 | +92.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €69,716 | €133,932 | +€64,216 | +92.1% |
| Distributable reserves | 133 | €69,716 | €133,932 | +€64,216 | +92.1% |
| Amounts payable | 17/49 | €44,061 | €11,898 | -€32,163 | -73.0% |
| Amounts payable within one year | 42/48 | €44,061 | €11,898 | -€32,163 | -73.0% |
| Trade debts | 44 | €344 | €702 | +€359 | +104.3% |
| Suppliers | 440/4 | €344 | €702 | +€359 | +104.3% |
| Taxes, remuneration and social security | 45 | €31,152 | €11,043 | -€20,108 | -64.5% |
| Taxes | 450/3 | €31,152 | €8,682 | -€22,470 | -72.1% |
| Remuneration and social security | 454/9 | - | €2,361 | +€2,361 | |
| Other amounts payable | 47/48 | €12,565 | €152 | -€12,413 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,697 | €6,000 | -€2,697 | -31.0% |
| Other operating charges | 640/8 | €170 | - | -€170 | |
| Gross operating margin | 9900 | €108,934 | €98,160 | -€10,774 | -9.9% |
| Operating profit (loss) | 9901 | €100,067 | €92,160 | -€7,907 | -7.9% |
| Financial income | 75/76B | €15 | €23 | +€8 | +54.9% |
| Recurring financial income | 75 | €0 | €23 | +€23 | +77500.0% |
| Non-recurring financial income | 76B | €15 | - | -€15 | |
| Financial charges | 65/66B | - | €54 | +€54 | |
| Recurring financial charges | 65 | - | €54 | +€54 | |
| Profit (loss) for the period before taxes | 9903 | €100,082 | €92,130 | -€7,952 | -7.9% |
| Income taxes | 67/77 | €30,366 | €27,914 | -€2,452 | -8.1% |
| Profit (loss) for the period | 9904 | €69,716 | €64,216 | -€5,500 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,716 | €64,216 | -€5,500 | -7.9% |
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 9 October 2026 via checked.be.