GvDB: 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.
GvDB
Largest movements
- Cash +€17,845
up €17,845 (+45.2%), from €39,452 to €57,297
mainly Net result for the year (+€32,939) and Other debts (+€13,993)
- Receivables after one year +€12,000
up €12,000 (+40.0%), from €30,000 to €42,000
- Reserves +€17,000
up €17,000 (+21.8%), from €77,855 to €94,855
- Other debts +€13,993
up €13,993 (+1077.3%), from €1,299 to €15,291
- Tax, wage and social debts -€2,887
down €2,887 (-57.5%), from €5,019 to €2,133
- Trade debts +€1,444
up €1,444 (+60.7%), from €2,377 to €3,821
- Short-term financial debts -€1,271
down €1,271 (-100.0%), from €1,271 to €0
- Gross operating margin +€9,063
up €9,063 (+28.0%), from €32,409 to €41,472
- Taxes -€1,481
down €1,481 (-17.7%), from €8,363 to €6,883
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 | €76,907 | €107,389 | +€30,481 | +39.6% |
| Fixed assets | 21/28 | €619 | €1,078 | +€459 | +74.2% |
| Tangible fixed assets | 22/27 | €619 | €1,078 | +€459 | +74.2% |
| Furniture and vehicles | 24 | €619 | €1,078 | +€459 | +74.2% |
| Current assets | 29/58 | €76,288 | €106,310 | +€30,022 | +39.4% |
| Amounts receivable after more than one year | 29 | €30,000 | €42,000 | +€12,000 | +40.0% |
| Other amounts receivable | 291 | €30,000 | €42,000 | +€12,000 | +40.0% |
| Amounts receivable within one year | 40/41 | €5,844 | €5,194 | -€651 | -11.1% |
| Trade receivables | 40 | €5,387 | €5,138 | -€249 | -4.6% |
| Other amounts receivable | 41 | €457 | €56 | -€401 | -87.8% |
| Cash at bank and in hand | 54/58 | €39,452 | €57,297 | +€17,845 | +45.2% |
| Deferred charges and accrued income | 490/1 | €992 | €1,820 | +€828 | +83.5% |
| Total equity and liabilities | 10/49 | €76,907 | €107,389 | +€30,481 | +39.6% |
| Equity | 10/15 | €66,941 | €84,880 | +€17,939 | +26.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,855 | €94,855 | +€17,000 | +21.8% |
| Distributable reserves | 133 | €77,855 | €94,855 | +€17,000 | +21.8% |
| Profit (loss) carried forward | 14 | -€23,314 | -€22,375 | +€939 | +4.0% |
| Amounts payable | 17/49 | €9,966 | €22,509 | +€12,543 | +125.9% |
| Amounts payable within one year | 42/48 | €9,966 | €22,509 | +€12,543 | +125.9% |
| Current portion of amounts payable after more than one year | 42 | - | €1,264 | +€1,264 | |
| Financial debts | 43 | €1,271 | €0 | -€1,271 | -100.0% |
| Credit institutions | 430/8 | €1,271 | €0 | -€1,271 | -100.0% |
| Trade debts | 44 | €2,377 | €3,821 | +€1,444 | +60.7% |
| Suppliers | 440/4 | €2,377 | €3,821 | +€1,444 | +60.7% |
| Taxes, remuneration and social security | 45 | €5,019 | €2,133 | -€2,887 | -57.5% |
| Taxes | 450/3 | €5,019 | €2,133 | -€2,887 | -57.5% |
| Other amounts payable | 47/48 | €1,299 | €15,291 | +€13,993 | +1077.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €817 | -€79 | -8.8% |
| Other operating charges | 640/8 | €1,894 | €1,843 | -€51 | -2.7% |
| Gross operating margin | 9900 | €32,409 | €41,472 | +€9,063 | +28.0% |
| Operating profit (loss) | 9901 | €29,619 | €38,812 | +€9,194 | +31.0% |
| Financial income | 75/76B | €874 | €1,197 | +€323 | +37.0% |
| Recurring financial income | 75 | €874 | €1,197 | +€323 | +37.0% |
| Financial charges | 65/66B | €259 | €188 | -€71 | -27.4% |
| Recurring financial charges | 65 | €259 | €188 | -€71 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €30,234 | €39,821 | +€9,588 | +31.7% |
| Income taxes | 67/77 | €8,363 | €6,883 | -€1,481 | -17.7% |
| Profit (loss) for the period | 9904 | €21,870 | €32,939 | +€11,068 | +50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,870 | €32,939 | +€11,068 | +50.6% |
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 5 October 2026 via checked.be.