GV Retail: 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 Retail
Largest movements
- Receivables within one year -€63,109
down €63,109 (-25.2%), from €250,666 to €187,558
of which Trade receivables: -€50,366
- Tangible fixed assets +€26,351
up €26,351 (+667%), from €3,948 to €30,298
of which Land and buildings: +€27,367
- Reserves +€857,291
up €857,291 (+46,091%), from €1,860 to €859,151
- Profit (loss) carried forward -€736,165
no longer reported in 2025 (was €736,165)
- Debts after one year -€76,395
down €76,395 (-6.6%), from €1.2m to €1.1m
of which Financial debts: -€76,395
- Tax, wage and social debts -€53,033
down €53,033 (-48.9%), from €108,389 to €55,356
of which Taxes: -€53,051
- Gross operating margin -€25,866
down €25,866 (-8.2%), from €316,912 to €291,046
- Taxes -€14,398
down €14,398 (-16.2%), from €88,920 to €74,522
- Financial charges -€13,105
down €13,105 (-42.5%), from €30,816 to €17,711
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 | €2,132,918 | €2,119,705 | -€13,213 | -0.6% |
| Fixed assets | 21/28 | €1,074,373 | €1,100,173 | +€25,801 | +2.4% |
| Tangible fixed assets | 22/27 | €3,948 | €30,298 | +€26,351 | +667% |
| Land and buildings | 22 | - | €27,367 | +€27,367 | |
| Plant, machinery and equipment | 23 | €1,271 | €636 | -€636 | -50.0% |
| Furniture and vehicles | 24 | €2,676 | €2,296 | -€381 | -14.2% |
| Financial fixed assets | 28 | €1,070,425 | €1,069,875 | -€550 | -0.1% |
| Current assets | 29/58 | €1,058,546 | €1,019,532 | -€39,013 | -3.7% |
| Amounts receivable after more than one year | 29 | €660,000 | €660,000 | = | 0.0% |
| Other amounts receivable | 291 | €660,000 | €660,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €250,666 | €187,558 | -€63,109 | -25.2% |
| Trade receivables | 40 | €127,365 | €76,999 | -€50,366 | -39.5% |
| Other amounts receivable | 41 | €123,301 | €110,558 | -€12,743 | -10.3% |
| Cash at bank and in hand | 54/58 | €131,454 | €149,244 | +€17,790 | +13.5% |
| Deferred charges and accrued income | 490/1 | €16,425 | €22,730 | +€6,305 | +38.4% |
| Total equity and liabilities | 10/49 | €2,132,918 | €2,119,705 | -€13,213 | -0.6% |
| Equity | 10/15 | €756,625 | €877,751 | +€121,126 | +16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €859,151 | +€857,291 | +46,091% |
| Distributable reserves | 133 | €1,860 | €859,151 | +€857,291 | +46,091% |
| Profit (loss) carried forward | 14 | €736,165 | - | -€736,165 | |
| Amounts payable | 17/49 | €1,376,293 | €1,241,955 | -€134,339 | -9.8% |
| Amounts payable after more than one year | 17 | €1,158,719 | €1,082,325 | -€76,395 | -6.6% |
| Financial debts | 170/4 | €133,719 | €57,325 | -€76,395 | -57.1% |
| Other amounts payable | 178/9 | €1,025,000 | €1,025,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €207,007 | €139,069 | -€67,938 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €86,694 | €76,395 | -€10,299 | -11.9% |
| Trade debts | 44 | €11,924 | €7,318 | -€4,606 | -38.6% |
| Suppliers | 440/4 | €11,924 | €7,318 | -€4,606 | -38.6% |
| Taxes, remuneration and social security | 45 | €108,389 | €55,356 | -€53,033 | -48.9% |
| Taxes | 450/3 | €104,985 | €51,934 | -€53,051 | -50.5% |
| Remuneration and social security | 454/9 | €3,404 | €3,422 | +€18 | +0.5% |
| Accrued charges and deferred income | 492/3 | €10,567 | €20,561 | +€9,994 | +94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,050 | €1,996 | +€947 | +90.2% |
| Other operating charges | 640/8 | €4,485 | €7,625 | +€3,140 | +70.0% |
| Gross operating margin | 9900 | €316,912 | €291,046 | -€25,866 | -8.2% |
| Operating profit (loss) | 9901 | €311,378 | €281,425 | -€29,953 | -9.6% |
| Financial income | 75/76B | €28,667 | €28,931 | +€264 | +0.9% |
| Recurring financial income | 75 | €28,667 | €28,931 | +€264 | +0.9% |
| Financial charges | 65/66B | €30,816 | €17,711 | -€13,105 | -42.5% |
| Recurring financial charges | 65 | €30,816 | €17,711 | -€13,105 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €309,229 | €292,644 | -€16,584 | -5.4% |
| Income taxes | 67/77 | €88,920 | €74,522 | -€14,398 | -16.2% |
| Profit (loss) for the period | 9904 | €220,308 | €218,122 | -€2,186 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €220,308 | €218,122 | -€2,186 | -1.0% |
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 1 November 2026 via checked.be.