GVG CONCEPT: 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.
GVG CONCEPT
Largest movements
- Receivables within one year +€19,880
up €19,880 (+13.4%), from €148,350 to €168,230
of which Trade receivables: +€10,820
- Tangible fixed assets -€15,911
down €15,911 (-30.0%), from €53,002 to €37,090
- Receivables after one year +€5,000
new in 2024: €5,000
- Profit (loss) carried forward +€24,013
up €24,013 (+77.9%), from €30,825 to €54,838
- Trade debts -€10,297
down €10,297 (-8.0%), from €128,541 to €118,244
of which Bills of exchange payable: -€108,287
- Current portion of long-term debt -€8,238
no longer reported in 2024 (was €8,238)
- Tax, wage and social debts +€7,873
up €7,873 (+78.6%), from €10,020 to €17,892
- Debts after one year -€5,158
down €5,158 (-22.9%), from €22,571 to €17,413
- Turnover +€586,792
up €586,792 (+123.8%), from €474,001 to €1.1m
- Purchases and services +€577,964
up €577,964 (+136.1%), from €424,813 to €1.0m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €202,398 | €210,590 | +€8,192 | +4.0% |
| Fixed assets | 21/28 | €53,002 | €37,090 | -€15,911 | -30.0% |
| Tangible fixed assets | 22/27 | €53,002 | €37,090 | -€15,911 | -30.0% |
| Furniture and vehicles | 24 | €53,002 | €37,090 | -€15,911 | -30.0% |
| Current assets | 29/58 | €149,397 | €173,500 | +€24,103 | +16.1% |
| Amounts receivable after more than one year | 29 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 291 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €148,350 | €168,230 | +€19,880 | +13.4% |
| Trade receivables | 40 | €140,454 | €151,274 | +€10,820 | +7.7% |
| Other amounts receivable | 41 | €7,896 | €16,956 | +€9,060 | +114.7% |
| Cash at bank and in hand | 54/58 | €1,047 | €270 | -€776 | -74.2% |
| Total equity and liabilities | 10/49 | €202,398 | €210,590 | +€8,192 | +4.0% |
| Equity | 10/15 | €31,325 | €55,338 | +€24,013 | +76.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Capital | 10 | €500 | €500 | = | 0.0% |
| Issued capital | 100 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,825 | €54,838 | +€24,013 | +77.9% |
| Amounts payable | 17/49 | €171,073 | €155,252 | -€15,821 | -9.2% |
| Amounts payable after more than one year | 17 | €22,571 | €17,413 | -€5,158 | -22.9% |
| Financial debts | 170/4 | €22,571 | €17,413 | -€5,158 | -22.9% |
| Amounts payable within one year | 42/48 | €148,502 | €137,839 | -€10,663 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €8,238 | - | -€8,238 | |
| Trade debts | 44 | €128,541 | €118,244 | -€10,297 | -8.0% |
| Suppliers | 440/4 | €20,254 | €118,244 | +€97,990 | +483.8% |
| Bills of exchange payable | 441 | €108,287 | - | -€108,287 | |
| Taxes, remuneration and social security | 45 | €10,020 | €17,892 | +€7,873 | +78.6% |
| Taxes | 450/3 | €10,020 | €17,892 | +€7,873 | +78.6% |
| Other amounts payable | 47/48 | €1,703 | €1,703 | = | 0.0% |
| Turnover | 70 | €474,001 | €1,060,793 | +€586,792 | +123.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €424,813 | €1,002,778 | +€577,964 | +136.1% |
| Remuneration, social security and pensions | 62 | - | €2,059 | +€2,059 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,326 | €17,100 | +€5,774 | +51.0% |
| Other operating charges | 640/8 | €527 | €439 | -€88 | -16.7% |
| Gross operating margin | 9900 | €49,187 | €52,715 | +€3,528 | +7.2% |
| Operating profit (loss) | 9901 | €37,334 | €33,117 | -€4,217 | -11.3% |
| Financial charges | 65/66B | €1,795 | €1,231 | -€564 | -31.4% |
| Recurring financial charges | 65 | €1,795 | €1,231 | -€564 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €35,539 | €31,885 | -€3,653 | -10.3% |
| Income taxes | 67/77 | €8,581 | €7,873 | -€708 | -8.3% |
| Profit (loss) for the period | 9904 | €26,958 | €24,013 | -€2,945 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,958 | €24,013 | -€2,945 | -10.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.