GVCONNECT: 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.
GVCONNECT
Largest movements
- Cash +€159,506
up €159,506 (+192.3%), from €82,925 to €242,431
mainly Other debts (+€181,241) and Receivables within one year (+€116,442)
- Receivables within one year -€116,442
down €116,442 (-55.2%), from €210,892 to €94,450
of which Trade receivables: -€73,965
- Other debts +€181,241
up €181,241 (+128.7%), from €140,773 to €322,014
- Reserves -€148,615
down €148,615 (-100.0%), from €148,615 to €0
- Tax, wage and social debts +€10,973
up €10,973 (+61.1%), from €17,957 to €28,930
- Financial income -€122,551
down €122,551 (-98.1%), from €124,886 to €2,336
of which Non-recurring financial income: -€99,131
- Financial charges -€100,813
down €100,813 (-99.4%), from €101,454 to €641
of which Non-recurring financial charges: -€100,666
- Gross operating margin -€36,196
down €36,196 (-27.0%), from €134,028 to €97,833
- Taxes +€14,973
up €14,973 (+199.0%), from €7,524 to €22,497
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €320,455 | €364,107 | +€43,652 | +13.6% |
| Fixed assets | 21/28 | €3,819 | €2,893 | -€926 | -24.2% |
| Tangible fixed assets | 22/27 | €3,819 | €2,893 | -€926 | -24.2% |
| Furniture and vehicles | 24 | €3,819 | €2,893 | -€926 | -24.2% |
| Current assets | 29/58 | €316,636 | €361,214 | +€44,578 | +14.1% |
| Amounts receivable within one year | 40/41 | €210,892 | €94,450 | -€116,442 | -55.2% |
| Trade receivables | 40 | €158,415 | €84,450 | -€73,965 | -46.7% |
| Other amounts receivable | 41 | €52,476 | €10,000 | -€42,476 | -80.9% |
| Current investments | 50/53 | €22,819 | €24,333 | +€1,514 | +6.6% |
| Cash at bank and in hand | 54/58 | €82,925 | €242,431 | +€159,506 | +192.3% |
| Total equity and liabilities | 10/49 | €320,455 | €364,107 | +€43,652 | +13.6% |
| Equity | 10/15 | €153,615 | €5,000 | -€148,615 | -96.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €148,615 | €0 | -€148,615 | -100.0% |
| Distributable reserves | 133 | €148,615 | €0 | -€148,615 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €166,840 | €359,107 | +€192,267 | +115.2% |
| Amounts payable within one year | 42/48 | €166,840 | €359,107 | +€192,267 | +115.2% |
| Trade debts | 44 | €2,866 | €2,921 | +€54 | +1.9% |
| Suppliers | 440/4 | €2,866 | €2,921 | +€54 | +1.9% |
| Advances received on contracts in progress | 46 | €5,243 | €5,243 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,957 | €28,930 | +€10,973 | +61.1% |
| Taxes | 450/3 | €17,957 | €28,930 | +€10,973 | +61.1% |
| Other amounts payable | 47/48 | €140,773 | €322,014 | +€181,241 | +128.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €809 | €926 | +€117 | +14.4% |
| Other operating charges | 640/8 | €513 | €1,074 | +€561 | +109.3% |
| Gross operating margin | 9900 | €134,028 | €97,833 | -€36,196 | -27.0% |
| Operating profit (loss) | 9901 | €132,706 | €95,833 | -€36,873 | -27.8% |
| Financial income | 75/76B | €124,886 | €2,336 | -€122,551 | -98.1% |
| Recurring financial income | 75 | €25,755 | €2,336 | -€23,419 | -90.9% |
| Non-recurring financial income | 76B | €99,131 | €0 | -€99,131 | -100.0% |
| Financial charges | 65/66B | €101,454 | €641 | -€100,813 | -99.4% |
| Recurring financial charges | 65 | €787 | €641 | -€146 | -18.6% |
| Non-recurring financial charges | 66B | €100,666 | €0 | -€100,666 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €156,139 | €97,527 | -€58,611 | -37.5% |
| Income taxes | 67/77 | €7,524 | €22,497 | +€14,973 | +199.0% |
| Profit (loss) for the period | 9904 | €148,615 | €75,030 | -€73,585 | -49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,615 | €75,030 | -€73,585 | -49.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.