GVAV: 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.
GVAV
Largest movements
- Receivables within one year -€8,217
down €8,217 (-77.0%), from €10,673 to €2,456
of which Other amounts receivable: -€7,953
- Cash +€5,806
up €5,806 (+248.1%), from €2,340 to €8,145
mainly Receivables within one year (+€8,217) and Depreciation (+€4,456)
- Tangible fixed assets -€4,027
down €4,027 (-69.7%), from €5,775 to €1,747
- Deferred charges and accrued income -€204
down €204 (-30.2%), from €677 to €473
- Advances received -€5,000
down €5,000 (-100.0%), from €5,000 to €0
- Other debts +€2,626
up €2,626, from €0 to €2,626
- Current portion of long-term debt -€2,051
down €2,051 (-66.2%), from €3,097 to €1,046
- Debts after one year -€1,746
down €1,746 (-100.0%), from €1,746 to €0
of which Financial debts: -€1,046
- Trade debts -€1,250
down €1,250 (-52.0%), from €2,405 to €1,155
- Gross operating margin -€3,531
down €3,531 (-37.7%), from €9,362 to €5,832
- Taxes -€734
down €734 (-53.8%), from €1,365 to €631
- Depreciation -€188
down €188 (-4.0%), from €4,643 to €4,456
- Other operating charges -€101
down €101 (-16.0%), from €628 to €528
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 | €19,465 | €12,822 | -€6,643 | -34.1% |
| Fixed assets | 21/28 | €5,775 | €1,747 | -€4,027 | -69.7% |
| Tangible fixed assets | 22/27 | €5,775 | €1,747 | -€4,027 | -69.7% |
| Furniture and vehicles | 24 | €5,775 | €1,747 | -€4,027 | -69.7% |
| Current assets | 29/58 | €13,690 | €11,074 | -€2,616 | -19.1% |
| Amounts receivable within one year | 40/41 | €10,673 | €2,456 | -€8,217 | -77.0% |
| Trade receivables | 40 | €2,720 | €2,456 | -€264 | -9.7% |
| Other amounts receivable | 41 | €7,953 | €0 | -€7,953 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,340 | €8,145 | +€5,806 | +248.1% |
| Deferred charges and accrued income | 490/1 | €677 | €473 | -€204 | -30.2% |
| Total equity and liabilities | 10/49 | €19,465 | €12,822 | -€6,643 | -34.1% |
| Equity | 10/15 | €5,155 | €5,402 | +€247 | +4.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €155 | €402 | +€247 | +160.1% |
| Distributable reserves | 133 | €155 | €402 | +€247 | +160.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €14,310 | €7,420 | -€6,890 | -48.2% |
| Amounts payable after more than one year | 17 | €1,746 | €0 | -€1,746 | -100.0% |
| Financial debts | 170/4 | €1,046 | €0 | -€1,046 | -100.0% |
| Other amounts payable | 178/9 | €700 | €0 | -€700 | -100.0% |
| Amounts payable within one year | 42/48 | €12,564 | €7,420 | -€5,144 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €3,097 | €1,046 | -€2,051 | -66.2% |
| Financial debts | 43 | €90 | €219 | +€130 | +144.7% |
| Credit institutions | 430/8 | €90 | €219 | +€130 | +144.7% |
| Trade debts | 44 | €2,405 | €1,155 | -€1,250 | -52.0% |
| Suppliers | 440/4 | €2,405 | €1,155 | -€1,250 | -52.0% |
| Advances received on contracts in progress | 46 | €5,000 | €0 | -€5,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,972 | €2,373 | +€401 | +20.3% |
| Taxes | 450/3 | €1,972 | €2,373 | +€401 | +20.3% |
| Other amounts payable | 47/48 | €0 | €2,626 | +€2,626 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,643 | €4,456 | -€188 | -4.0% |
| Other operating charges | 640/8 | €628 | €528 | -€101 | -16.0% |
| Gross operating margin | 9900 | €9,362 | €5,832 | -€3,531 | -37.7% |
| Operating profit (loss) | 9901 | €4,091 | €848 | -€3,242 | -79.3% |
| Financial income | 75/76B | €223 | €244 | +€22 | +9.8% |
| Recurring financial income | 75 | €223 | €244 | +€22 | +9.8% |
| Financial charges | 65/66B | €278 | €214 | -€64 | -23.0% |
| Recurring financial charges | 65 | €278 | €214 | -€64 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €4,035 | €878 | -€3,157 | -78.2% |
| Income taxes | 67/77 | €1,365 | €631 | -€734 | -53.8% |
| Profit (loss) for the period | 9904 | €2,670 | €247 | -€2,423 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,670 | €247 | -€2,423 | -90.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.