GVDMEDICAL: what changed
What changed
GVDMEDICAL
filed annual accounts (NBB)
Net result for the year
€123,129
2024 · €75,600+€47,529
Equity
€38,262
2024 · €82,133-€43,871
Cash
€94,345
2024 · €48,398+€45,947
Balance sheet total
€234,087
2024 · €127,227+€106,860
Largest movements
Assets
- Receivables within one year +€48,457
up €48,457 (+76.5%), from €63,322 to €111,779
- Cash +€45,947
up €45,947 (+94.9%), from €48,398 to €94,345
mainly Other debts (+€136,039) and Net result for the year (+€123,129)
- Current investments +€12,491
up €12,491 (+416%), from €3,000 to €15,491
Equity and liabilities
- Other debts +€136,039
up €136,039 (+435%), from €31,250 to €167,289
- Reserves -€44,000
down €44,000 (-57.4%), from €76,600 to €32,600
- Tax, wage and social debts +€16,024
up €16,024 (+170%), from €9,436 to €25,460
Income statement
- Gross operating margin +€69,028
up €69,028 (+69.4%), from €99,421 to €168,449
- Taxes +€18,383
up €18,383 (+93.0%), from €19,777 to €38,160
- Financial charges +€2,183
up €2,183 (+90.9%), from €2,401 to €4,585
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.
Result 2024
€75,600
Gross operating margin
+€69,028
Depreciation
-€1,472
Other operating charges
-€417
Financial income
+€956
Financial charges
-€2,183
Taxes
-€18,383
Result 2025
€123,129
raises the resultlowers the result
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.
From operations
+€228,490
Investment
-€15,423
Financing
-€167,120
Cash 2024
€48,398
From operations (derived)
+€228,490
Net result for the year
+€123,129
Depreciation
+€2,606
Receivables within one year
-€48,457
Smaller working-capital items
+€580
Trade debts
+€569
Tax, wage and social debts
+€16,024
Advances received
-€2,000
Other debts
+€136,039
Investment (derived)
-€15,423
Investment in fixed assets (net)
-€2,931
Current investments
-€12,491
Financing
-€167,120
Short-term financial debts
-€120
Contributions, distributions and other
-€167,000
Cash 2025
€94,345
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,227 | €234,087 | +€106,860 | +84.0% |
| Fixed assets | 21/28 | €9,533 | €9,859 | +€326 | +3.4% |
| Tangible fixed assets | 22/27 | €9,533 | €9,859 | +€326 | +3.4% |
| Furniture and vehicles | 24 | €6,524 | €7,572 | +€1,048 | +16.1% |
| Other tangible fixed assets | 26 | €3,009 | €2,287 | -€722 | -24.0% |
| Current assets | 29/58 | €117,694 | €224,228 | +€106,535 | +90.5% |
| Amounts receivable within one year | 40/41 | €63,322 | €111,779 | +€48,457 | +76.5% |
| Trade receivables | 40 | €63,322 | €111,779 | +€48,457 | +76.5% |
| Current investments | 50/53 | €3,000 | €15,491 | +€12,491 | +416% |
| Cash at bank and in hand | 54/58 | €48,398 | €94,345 | +€45,947 | +94.9% |
| Deferred charges and accrued income | 490/1 | €2,974 | €2,613 | -€361 | -12.1% |
| Total equity and liabilities | 10/49 | €127,227 | €234,087 | +€106,860 | +84.0% |
| Equity | 10/15 | €82,133 | €38,262 | -€43,871 | -53.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €76,600 | €32,600 | -€44,000 | -57.4% |
| Distributable reserves | 133 | €76,600 | €32,600 | -€44,000 | -57.4% |
| Profit (loss) carried forward | 14 | €533 | €662 | +€129 | +24.2% |
| Amounts payable | 17/49 | €45,093 | €195,825 | +€150,731 | +334% |
| Amounts payable within one year | 42/48 | €44,482 | €194,994 | +€150,512 | +338% |
| Financial debts | 43 | €120 | €0 | -€120 | -100% |
| Credit institutions | 430/8 | €120 | €0 | -€120 | -100% |
| Trade debts | 44 | €1,676 | €2,245 | +€569 | +33.9% |
| Suppliers | 440/4 | €1,676 | €2,245 | +€569 | +33.9% |
| Advances received on contracts in progress | 46 | €2,000 | €0 | -€2,000 | -100% |
| Taxes, remuneration and social security | 45 | €9,436 | €25,460 | +€16,024 | +170% |
| Taxes | 450/3 | €9,436 | €25,460 | +€16,024 | +170% |
| Other amounts payable | 47/48 | €31,250 | €167,289 | +€136,039 | +435% |
| Accrued charges and deferred income | 492/3 | €611 | €831 | +€220 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,134 | €2,606 | +€1,472 | +130% |
| Other operating charges | 640/8 | €508 | €925 | +€417 | +82.1% |
| Gross operating margin | 9900 | €99,421 | €168,449 | +€69,028 | +69.4% |
| Operating profit (loss) | 9901 | €97,778 | €164,918 | +€67,140 | +68.7% |
| Financial income | 75/76B | €0 | €956 | +€956 | +2,389,325% |
| Recurring financial income | 75 | €0 | €956 | +€956 | +2,389,325% |
| Financial charges | 65/66B | €2,401 | €4,585 | +€2,183 | +90.9% |
| Recurring financial charges | 65 | €2,401 | €4,585 | +€2,183 | +90.9% |
| Profit (loss) for the period before taxes | 9903 | €95,377 | €161,289 | +€65,912 | +69.1% |
| Income taxes | 67/77 | €19,777 | €38,160 | +€18,383 | +93.0% |
| Profit (loss) for the period | 9904 | €75,600 | €123,129 | +€47,529 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,600 | €123,129 | +€47,529 | +62.9% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 2 November 2026 via checked.be.