GVA: 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.
GVA
Largest movements
- Tangible fixed assets -€59,968
down €59,968 (-7.8%), from €772,247 to €712,279
- Receivables within one year +€59,802
up €59,802 (+839.6%), from €7,123 to €66,925
- Cash -€44,630
down €44,630 (-10.0%), from €445,812 to €401,182
mainly Receivables within one year (-€59,802) and Debts after one year (-€55,970)
- Reserves +€78,331
up €78,331 (+18.9%), from €415,480 to €493,811
of which Distributable reserves: +€89,562
- Debts after one year -€55,970
down €55,970 (-49.0%), from €114,305 to €58,335
- Other debts -€50,034
down €50,034 (-50.3%), from €99,522 to €49,488
- Accrued charges and deferred income -€12,371
down €12,371 (-79.2%), from €15,619 to €3,248
- Gross operating margin -€21,618
down €21,618 (-10.3%), from €209,385 to €187,767
- Financial charges -€7,447
down €7,447 (-49.9%), from €14,928 to €7,481
of which Financial charges: -€7,205
- Taxes -€3,784
down €3,784 (-9.4%), from €40,339 to €36,555
- Financial income +€2,459
new in 2024: €2,459
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,225,386 | €1,180,548 | -€44,838 | -3.7% |
| Fixed assets | 21/28 | €772,247 | €712,279 | -€59,968 | -7.8% |
| Tangible fixed assets | 22/27 | €772,247 | €712,279 | -€59,968 | -7.8% |
| Land and buildings | 22 | €772,247 | €712,279 | -€59,968 | -7.8% |
| Current assets | 29/58 | €453,139 | €468,269 | +€15,131 | +3.3% |
| Amounts receivable within one year | 40/41 | €7,123 | €66,925 | +€59,802 | +839.6% |
| Trade receivables | 40 | €7,123 | €66,925 | +€59,802 | +839.6% |
| Cash at bank and in hand | 54/58 | €445,812 | €401,182 | -€44,630 | -10.0% |
| Deferred charges and accrued income | 490/1 | €204 | €162 | -€41 | -20.3% |
| Total equity and liabilities | 10/49 | €1,225,386 | €1,180,548 | -€44,838 | -3.7% |
| Equity | 10/15 | €915,480 | €993,811 | +€78,331 | +8.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €415,480 | €493,811 | +€78,331 | +18.9% |
| Non-distributable reserves | 130/1 | €11,231 | €0 | -€11,231 | -100.0% |
| Reserves not available under the articles | 1311 | €11,231 | €0 | -€11,231 | -100.0% |
| Distributable reserves | 133 | €404,249 | €493,811 | +€89,562 | +22.2% |
| Amounts payable | 17/49 | €309,906 | €186,737 | -€123,169 | -39.7% |
| Amounts payable after more than one year | 17 | €114,305 | €58,335 | -€55,970 | -49.0% |
| Financial debts | 170/4 | €114,305 | €58,335 | -€55,970 | -49.0% |
| Amounts payable within one year | 42/48 | €179,982 | €125,155 | -€54,828 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €53,702 | €55,970 | +€2,269 | +4.2% |
| Financial debts | 43 | €15,145 | €12,024 | -€3,121 | -20.6% |
| Credit institutions | 430/8 | €15,145 | €12,024 | -€3,121 | -20.6% |
| Trade debts | 44 | €453 | €0 | -€453 | -100.0% |
| Suppliers | 440/4 | €453 | €0 | -€453 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,159 | €7,672 | -€3,487 | -31.3% |
| Taxes | 450/3 | €11,159 | €7,672 | -€3,487 | -31.3% |
| Other amounts payable | 47/48 | €99,522 | €49,488 | -€50,034 | -50.3% |
| Accrued charges and deferred income | 492/3 | €15,619 | €3,248 | -€12,371 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,057 | €59,968 | -€89 | -0.1% |
| Other operating charges | 640/8 | €7,622 | €7,891 | +€269 | +3.5% |
| Gross operating margin | 9900 | €209,385 | €187,767 | -€21,618 | -10.3% |
| Operating profit (loss) | 9901 | €141,706 | €119,908 | -€21,798 | -15.4% |
| Financial income | 75/76B | - | €2,459 | +€2,459 | |
| Recurring financial income | 75 | - | €2,459 | +€2,459 | |
| Financial charges | 65/66B | €14,928 | €7,481 | -€7,447 | -49.9% |
| Recurring financial charges | 65 | €14,685 | €7,481 | -€7,205 | -49.1% |
| Non-recurring financial charges | 66B | €242 | - | -€242 | |
| Profit (loss) for the period before taxes | 9903 | €126,779 | €114,886 | -€11,893 | -9.4% |
| Income taxes | 67/77 | €40,339 | €36,555 | -€3,784 | -9.4% |
| Profit (loss) for the period | 9904 | €86,440 | €78,331 | -€8,109 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,440 | €78,331 | -€8,109 | -9.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.