GVC+: 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.
GVC+
Largest movements
- Tangible fixed assets -€41,199
down €41,199 (-7.6%), from €540,153 to €498,954
of which Land and buildings: -€38,884
- Receivables within one year -€17,701
down €17,701 (-52.5%), from €33,687 to €15,986
of which Trade receivables: -€24,365
- Tax, wage and social debts -€78,235
down €78,235 (-76.0%), from €102,973 to €24,738
- Debts after one year -€73,564
down €73,564 (-18.5%), from €398,237 to €324,673
- Trade debts +€70,893
up €70,893 (+133.0%), from €53,291 to €124,184
- Other debts +€28,225
new in 2024: €28,225
- Current portion of long-term debt -€10,754
down €10,754 (-12.1%), from €88,604 to €77,850
- Purchases and services -€215,559
no longer reported in 2024 (was €215,559)
- Gross operating margin -€85,330
down €85,330 (-42.0%), from €203,031 to €117,701
- Taxes -€31,382
down €31,382 (-69.0%), from €45,490 to €14,108
- Write-downs -€10,141
no longer reported in 2024 (was €10,141)
- Financial charges +€4,813
up €4,813 (+12.2%), from €39,553 to €44,366
From the 31-12-2023 result to the 31-12-2024 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 31-12-2023 and 31-12-2024 balance sheets and the 31-12-2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2023 | 31-12-2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €822,392 | €759,378 | -€63,014 | -7.7% |
| Fixed assets | 21/28 | €780,876 | €739,677 | -€41,199 | -5.3% |
| Intangible fixed assets | 21 | €11,073 | €11,073 | +€0 | 0.0% |
| Tangible fixed assets | 22/27 | €540,153 | €498,954 | -€41,199 | -7.6% |
| Land and buildings | 22 | €524,145 | €485,261 | -€38,884 | -7.4% |
| Plant, machinery and equipment | 23 | €764 | €262 | -€502 | -65.7% |
| Furniture and vehicles | 24 | €15,244 | €13,431 | -€1,813 | -11.9% |
| Financial fixed assets | 28 | €229,650 | €229,650 | = | 0.0% |
| Current assets | 29/58 | €41,517 | €19,701 | -€21,816 | -52.5% |
| Amounts receivable within one year | 40/41 | €33,687 | €15,986 | -€17,701 | -52.5% |
| Trade receivables | 40 | €33,687 | €9,322 | -€24,365 | -72.3% |
| Other amounts receivable | 41 | - | €6,664 | +€6,664 | |
| Cash at bank and in hand | 54/58 | €4,838 | €3,715 | -€1,123 | -23.2% |
| Deferred charges and accrued income | 490/1 | €2,991 | - | -€2,991 | |
| Total equity and liabilities | 10/49 | €822,392 | €759,378 | -€63,014 | -7.7% |
| Equity | 10/15 | €174,287 | €179,708 | +€5,421 | +3.1% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Outside capital | 11 | €12,600 | - | -€12,600 | |
| Other | 1109/19 | €12,600 | - | -€12,600 | |
| Reserves | 13 | €161,687 | €167,108 | +€5,421 | +3.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €159,827 | €165,248 | +€5,421 | +3.4% |
| Amounts payable | 17/49 | €648,105 | €579,670 | -€68,435 | -10.6% |
| Amounts payable after more than one year | 17 | €398,237 | €324,673 | -€73,564 | -18.5% |
| Financial debts | 170/4 | €398,237 | €324,673 | -€73,564 | -18.5% |
| Amounts payable within one year | 42/48 | €249,868 | €254,997 | +€5,129 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €88,604 | €77,850 | -€10,754 | -12.1% |
| Trade debts | 44 | €53,291 | €124,184 | +€70,893 | +133.0% |
| Suppliers | 440/4 | €53,291 | €124,184 | +€70,893 | +133.0% |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €102,973 | €24,738 | -€78,235 | -76.0% |
| Taxes | 450/3 | €102,973 | €24,738 | -€78,235 | -76.0% |
| Other amounts payable | 47/48 | - | €28,225 | +€28,225 | |
| Goods, raw materials, services and sundry goods | 60/61 | €215,559 | - | -€215,559 | |
| Remuneration, social security and pensions | 62 | - | €140 | +€140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,068 | €50,268 | -€1,800 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,141 | - | -€10,141 | |
| Other operating charges | 640/8 | €5,652 | €3,399 | -€2,253 | -39.9% |
| Gross operating margin | 9900 | €203,031 | €117,701 | -€85,330 | -42.0% |
| Operating profit (loss) | 9901 | €135,170 | €63,894 | -€71,276 | -52.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +122.2% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +122.2% |
| Financial charges | 65/66B | €39,553 | €44,366 | +€4,813 | +12.2% |
| Recurring financial charges | 65 | €39,553 | €44,366 | +€4,813 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €95,617 | €19,529 | -€76,088 | -79.6% |
| Income taxes | 67/77 | €45,490 | €14,108 | -€31,382 | -69.0% |
| Profit (loss) for the period | 9904 | €50,128 | €5,421 | -€44,707 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,128 | €5,421 | -€44,707 | -89.2% |
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 8 October 2026 via checked.be.