GVDA Accounting: what changed
GVDA Accounting
Largest movements
- Cash +€17,436
up €17,436 (+41.1%), from €42,382 to €59,818
mainly Net result for the year (+€27,178) and Tax, wage and social debts (+€3,412)
- Receivables within one year +€10,833
up €10,833 (+204%), from €5,300 to €16,133
- Financial fixed assets +€1,200
new in 2025: €1,200
- Tangible fixed assets -€976
down €976 (-29.9%), from €3,268 to €2,292
of which Plant, machinery and equipment: -€716
- Reserves +€27,178
up €27,178 (+94.6%), from €28,735 to €55,912
- Tax, wage and social debts +€3,412
up €3,412 (+20.4%), from €16,750 to €20,162
- Other debts -€1,982
down €1,982 (-92.2%), from €2,149 to €167
- Gross operating margin +€4,957
up €4,957 (+14.0%), from €35,373 to €40,329
- Taxes +€1,703
up €1,703 (+27.2%), from €6,263 to €7,966
- Other operating charges +€455
up €455 (+92.4%), from €493 to €948
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,374 | €80,067 | +€28,693 | +55.9% |
| Fixed assets | 21/28 | €3,268 | €3,492 | +€224 | +6.9% |
| Tangible fixed assets | 22/27 | €3,268 | €2,292 | -€976 | -29.9% |
| Plant, machinery and equipment | 23 | €2,379 | €1,663 | -€716 | -30.1% |
| Furniture and vehicles | 24 | €889 | €628 | -€260 | -29.3% |
| Financial fixed assets | 28 | - | €1,200 | +€1,200 | |
| Current assets | 29/58 | €48,106 | €76,575 | +€28,469 | +59.2% |
| Amounts receivable within one year | 40/41 | €5,300 | €16,133 | +€10,833 | +204% |
| Trade receivables | 40 | €5,300 | €16,133 | +€10,833 | +204% |
| Cash at bank and in hand | 54/58 | €42,382 | €59,818 | +€17,436 | +41.1% |
| Deferred charges and accrued income | 490/1 | €424 | €624 | +€200 | +47.1% |
| Total equity and liabilities | 10/49 | €51,374 | €80,067 | +€28,693 | +55.9% |
| Equity | 10/15 | €31,235 | €58,412 | +€27,178 | +87.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €28,735 | €55,912 | +€27,178 | +94.6% |
| Distributable reserves | 133 | €28,735 | €55,912 | +€27,178 | +94.6% |
| Amounts payable | 17/49 | €20,139 | €21,655 | +€1,515 | +7.5% |
| Amounts payable within one year | 42/48 | €20,139 | €21,646 | +€1,507 | +7.5% |
| Trade debts | 44 | €1,240 | €1,317 | +€77 | +6.2% |
| Suppliers | 440/4 | €1,240 | €1,317 | +€77 | +6.2% |
| Taxes, remuneration and social security | 45 | €16,750 | €20,162 | +€3,412 | +20.4% |
| Taxes | 450/3 | €16,750 | €20,162 | +€3,412 | +20.4% |
| Other amounts payable | 47/48 | €2,149 | €167 | -€1,982 | -92.2% |
| Accrued charges and deferred income | 492/3 | - | €8 | +€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €783 | €976 | +€193 | +24.7% |
| Other operating charges | 640/8 | €493 | €948 | +€455 | +92.4% |
| Gross operating margin | 9900 | €35,373 | €40,329 | +€4,957 | +14.0% |
| Operating profit (loss) | 9901 | €34,097 | €38,405 | +€4,308 | +12.6% |
| Financial charges | 65/66B | €3,428 | €3,262 | -€166 | -4.8% |
| Recurring financial charges | 65 | €3,428 | €3,262 | -€166 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €30,670 | €35,143 | +€4,474 | +14.6% |
| Income taxes | 67/77 | €6,263 | €7,966 | +€1,703 | +27.2% |
| Profit (loss) for the period | 9904 | €24,406 | €27,178 | +€2,771 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,406 | €27,178 | +€2,771 | +11.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.