GV-Tech: 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-Tech
Largest movements
- Cash -€76,139
down €76,139 (-28.8%), from €264,194 to €188,055
mainly Other debts (-€121,045) and Trade debts (-€73,287)
- Receivables within one year -€50,558
down €50,558 (-14.6%), from €345,254 to €294,696
of which Trade receivables: -€49,312
- Other debts -€121,045
down €121,045 (-49.0%), from €247,004 to €125,959
- Reserves +€77,477
up €77,477 (+45.3%), from €171,032 to €248,509
- Trade debts -€73,287
down €73,287 (-37.5%), from €195,214 to €121,927
- Staff costs -€16,057
down €16,057 (-8.1%), from €199,143 to €183,086
- Gross operating margin -€4,769
down €4,769 (-1.5%), from €308,393 to €303,624
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €645,103 | €522,361 | -€122,742 | -19.0% |
| Fixed assets | 21/28 | €7,489 | €7,471 | -€18 | -0.2% |
| Tangible fixed assets | 22/27 | €7,489 | €7,471 | -€18 | -0.2% |
| Plant, machinery and equipment | 23 | €5,055 | €5,368 | +€313 | +6.2% |
| Furniture and vehicles | 24 | €2,433 | €2,103 | -€330 | -13.6% |
| Current assets | 29/58 | €637,614 | €514,890 | -€122,724 | -19.2% |
| Stocks and contracts in progress | 3 | €21,569 | €20,865 | -€703 | -3.3% |
| Stocks | 30/36 | €21,569 | €20,865 | -€703 | -3.3% |
| Amounts receivable within one year | 40/41 | €345,254 | €294,696 | -€50,558 | -14.6% |
| Trade receivables | 40 | €293,927 | €244,615 | -€49,312 | -16.8% |
| Other amounts receivable | 41 | €51,327 | €50,081 | -€1,246 | -2.4% |
| Cash at bank and in hand | 54/58 | €264,194 | €188,055 | -€76,139 | -28.8% |
| Deferred charges and accrued income | 490/1 | €6,597 | €11,274 | +€4,677 | +70.9% |
| Total equity and liabilities | 10/49 | €645,103 | €522,361 | -€122,742 | -19.0% |
| Equity | 10/15 | €171,032 | €248,509 | +€77,477 | +45.3% |
| Reserves | 13 | €171,032 | €248,509 | +€77,477 | +45.3% |
| Distributable reserves | 133 | €171,032 | €248,509 | +€77,477 | +45.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €474,071 | €273,853 | -€200,219 | -42.2% |
| Amounts payable within one year | 42/48 | €474,071 | €273,853 | -€200,219 | -42.2% |
| Trade debts | 44 | €195,214 | €121,927 | -€73,287 | -37.5% |
| Suppliers | 440/4 | €195,214 | €121,927 | -€73,287 | -37.5% |
| Taxes, remuneration and social security | 45 | €31,853 | €25,967 | -€5,887 | -18.5% |
| Taxes | 450/3 | €8,617 | €1,906 | -€6,711 | -77.9% |
| Remuneration and social security | 454/9 | €23,237 | €24,061 | +€824 | +3.5% |
| Other amounts payable | 47/48 | €247,004 | €125,959 | -€121,045 | -49.0% |
| Remuneration, social security and pensions | 62 | €199,143 | €183,086 | -€16,057 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,722 | €2,008 | -€714 | -26.2% |
| Other operating charges | 640/8 | €1,795 | €2,590 | +€795 | +44.3% |
| Gross operating margin | 9900 | €308,393 | €303,624 | -€4,769 | -1.5% |
| Operating profit (loss) | 9901 | €104,733 | €115,940 | +€11,207 | +10.7% |
| Financial income | 75/76B | €933 | €1,870 | +€937 | +100% |
| Recurring financial income | 75 | €933 | €1,870 | +€937 | +100% |
| Financial charges | 65/66B | €11,676 | €13,512 | +€1,836 | +15.7% |
| Recurring financial charges | 65 | €11,676 | €13,512 | +€1,836 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €93,990 | €104,297 | +€10,308 | +11.0% |
| Income taxes | 67/77 | €23,797 | €26,821 | +€3,023 | +12.7% |
| Profit (loss) for the period | 9904 | €70,192 | €77,477 | +€7,284 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,192 | €77,477 | +€7,284 | +10.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.