GVC: 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.
GVC
Largest movements
- Cash +€4,678
up €4,678 (+4,455%), from €105 to €4,783
mainly Net result for the year (+€8,282) and Depreciation (+€276)
- Tangible fixed assets -€276
down €276 (-43.5%), from €634 to €358
- Receivables within one year -€81
down €81 (-21.4%), from €379 to €298
- Profit (loss) carried forward +€8,282
up €8,282 (+44.1%), from -€18,779 to -€10,497
- Debts within one year -€3,961
down €3,961 (-30.9%), from €12,820 to €8,859
of which Trade debts: -€5,038
- Gross operating margin +€16,406
up €16,406, from -€7,056 to €9,350
- Other operating charges +€694
new in 2021: €694
- Financial charges +€98
new in 2021: €98
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,118 | €5,439 | +€4,321 | +386% |
| Fixed assets | 21/28 | €634 | €358 | -€276 | -43.5% |
| Tangible fixed assets | 22/27 | €634 | €358 | -€276 | -43.5% |
| Plant, machinery and equipment | 23 | - | €167 | +€167 | |
| Furniture and vehicles | 24 | - | €191 | +€191 | |
| Current assets | 29/58 | €484 | €5,081 | +€4,597 | +950% |
| Amounts receivable within one year | 40/41 | €379 | €298 | -€81 | -21.4% |
| Other amounts receivable | 41 | - | €298 | +€298 | |
| Cash at bank and in hand | 54/58 | €105 | €4,783 | +€4,678 | +4,455% |
| Total equity and liabilities | 10/49 | €1,118 | €5,439 | +€4,321 | +386% |
| Equity | 10/15 | -€11,702 | -€3,420 | +€8,282 | +70.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | - | €6,200 | +€6,200 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €12,400 | +€12,400 | |
| Reserves | 13 | €877 | €877 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €877 | +€877 | |
| Legal reserve | 130 | - | €877 | +€877 | |
| Profit (loss) carried forward | 14 | -€18,779 | -€10,497 | +€8,282 | +44.1% |
| Amounts payable | 17/49 | €12,820 | €8,859 | -€3,961 | -30.9% |
| Amounts payable within one year | 42/48 | €12,820 | €8,859 | -€3,961 | -30.9% |
| Trade debts | 44 | €5,235 | €197 | -€5,038 | -96.2% |
| Suppliers | 440/4 | - | €197 | +€197 | |
| Other amounts payable | 47/48 | - | €8,662 | +€8,662 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275 | €276 | +€1 | +0.4% |
| Other operating charges | 640/8 | - | €694 | +€694 | |
| Gross operating margin | 9900 | -€7,056 | €9,350 | +€16,406 | |
| Operating profit (loss) | 9901 | -€9,555 | €8,380 | +€17,935 | |
| Financial charges | 65/66B | - | €98 | +€98 | |
| Recurring financial charges | 65 | €241 | €98 | -€143 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,796 | €8,282 | +€18,078 | |
| Profit (loss) for the period | 9904 | -€9,796 | €8,282 | +€18,078 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,796 | €8,282 | +€18,078 |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.