GV-TRANS: 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-TRANS
Largest movements
- Tangible fixed assets +€223,140
up €223,140 (+74.3%), from €300,328 to €523,468
of which Leasing and similar rights: +€224,866
- Cash +€141,631
up €141,631 (+455.4%), from €31,098 to €172,729
mainly Debts after one year (+€187,929) and Net result for the year (+€112,780)
- Receivables within one year +€70,504
up €70,504 (+167.8%), from €42,007 to €112,511
of which Trade receivables: +€72,676
- Deferred charges and accrued income +€16,603
up €16,603 (+1934.9%), from €858 to €17,461
- Debts after one year +€187,929
up €187,929 (+81.4%), from €230,743 to €418,673
- Profit (loss) carried forward +€112,780
up €112,780 (+252.2%), from €44,715 to €157,496
- Trade debts +€59,541
up €59,541 (+332.2%), from €17,923 to €77,465
- Tax, wage and social debts +€51,152
up €51,152 (+337.4%), from €15,160 to €66,312
of which Remuneration and social security: +€66,312
- Current portion of long-term debt +€34,574
up €34,574 (+104.8%), from €32,980 to €67,554
- Gross operating margin +€244,164
up €244,164 (+341.7%), from €71,466 to €315,631
- Staff costs +€91,661
new in 2025: €91,661
- Depreciation +€54,921
up €54,921 (+1218.5%), from €4,507 to €59,428
- Taxes +€23,435
up €23,435 (+154.6%), from €15,160 to €38,595
- Financial charges +€10,303
up €10,303 (+692.0%), from €1,489 to €11,792
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 | €377,891 | €829,770 | +€451,878 | +119.6% |
| Fixed assets | 21/28 | €303,928 | €527,068 | +€223,140 | +73.4% |
| Tangible fixed assets | 22/27 | €300,328 | €523,468 | +€223,140 | +74.3% |
| Furniture and vehicles | 24 | €9,959 | €8,234 | -€1,726 | -17.3% |
| Leasing and similar rights | 25 | €290,369 | €515,235 | +€224,866 | +77.4% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €73,963 | €302,701 | +€228,738 | +309.3% |
| Amounts receivable within one year | 40/41 | €42,007 | €112,511 | +€70,504 | +167.8% |
| Trade receivables | 40 | €39,835 | €112,511 | +€72,676 | +182.4% |
| Other amounts receivable | 41 | €2,172 | - | -€2,172 | |
| Cash at bank and in hand | 54/58 | €31,098 | €172,729 | +€141,631 | +455.4% |
| Deferred charges and accrued income | 490/1 | €858 | €17,461 | +€16,603 | +1934.9% |
| Total equity and liabilities | 10/49 | €377,891 | €829,770 | +€451,878 | +119.6% |
| Equity | 10/15 | €46,715 | €159,496 | +€112,780 | +241.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,715 | €157,496 | +€112,780 | +252.2% |
| Amounts payable | 17/49 | €331,176 | €670,274 | +€339,098 | +102.4% |
| Amounts payable after more than one year | 17 | €230,743 | €418,673 | +€187,929 | +81.4% |
| Financial debts | 170/4 | €230,743 | €418,673 | +€187,929 | +81.4% |
| Amounts payable within one year | 42/48 | €100,432 | €251,602 | +€151,169 | +150.5% |
| Current portion of amounts payable after more than one year | 42 | €32,980 | €67,554 | +€34,574 | +104.8% |
| Trade debts | 44 | €17,923 | €77,465 | +€59,541 | +332.2% |
| Suppliers | 440/4 | €17,923 | €77,465 | +€59,541 | +332.2% |
| Taxes, remuneration and social security | 45 | €15,160 | €66,312 | +€51,152 | +337.4% |
| Taxes | 450/3 | €15,160 | - | -€15,160 | |
| Remuneration and social security | 454/9 | - | €66,312 | +€66,312 | |
| Other amounts payable | 47/48 | €34,369 | €40,271 | +€5,902 | +17.2% |
| Remuneration, social security and pensions | 62 | - | €91,661 | +€91,661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,507 | €59,428 | +€54,921 | +1218.5% |
| Other operating charges | 640/8 | €906 | €1,378 | +€472 | +52.1% |
| Gross operating margin | 9900 | €71,466 | €315,631 | +€244,164 | +341.7% |
| Operating profit (loss) | 9901 | €66,053 | €163,163 | +€97,110 | +147.0% |
| Financial income | 75/76B | €0 | €3 | +€3 | +7625.0% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +7625.0% |
| Financial charges | 65/66B | €1,489 | €11,792 | +€10,303 | +692.0% |
| Recurring financial charges | 65 | €1,489 | €11,792 | +€10,303 | +692.0% |
| Profit (loss) for the period before taxes | 9903 | €64,564 | €151,375 | +€86,810 | +134.5% |
| Income taxes | 67/77 | €15,160 | €38,595 | +€23,435 | +154.6% |
| Profit (loss) for the period | 9904 | €49,404 | €112,780 | +€63,376 | +128.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,404 | €112,780 | +€63,376 | +128.3% |
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 12 October 2026 via checked.be.