GVG SERVICE: what changed
GVG SERVICE
Largest movements
- Cash +€118,920
up €118,920 (+252%), from €47,131 to €166,051
mainly Current investments (+€100,000) and Other debts (+€54,346)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Other debts +€54,346
up €54,346 (+99.6%), from €54,544 to €108,890
- Profit (loss) carried forward -€19,690
down €19,690 (-100.0%), from €19,690 to €1
- Reserves -€15,000
down €15,000 (-21.8%), from €68,712 to €53,712
- Trade debts +€1,976
up €1,976 (+45.7%), from €4,328 to €6,304
- Gross operating margin +€11,843
up €11,843 (+25.0%), from €47,361 to €59,204
- Depreciation -€3,400
down €3,400 (-74.4%), from €4,567 to €1,168
- Taxes +€1,994
up €1,994 (+14.9%), from €13,412 to €15,406
- Financial income +€1,455
up €1,455 (+115%), from €1,265 to €2,721
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 | €164,525 | €183,546 | +€19,020 | +11.6% |
| Fixed assets | 21/28 | €2,017 | €849 | -€1,168 | -57.9% |
| Tangible fixed assets | 22/27 | €2,017 | €849 | -€1,168 | -57.9% |
| Plant, machinery and equipment | 23 | €1,409 | €813 | -€595 | -42.2% |
| Other tangible fixed assets | 26 | €608 | €35 | -€573 | -94.2% |
| Current assets | 29/58 | €162,509 | €182,697 | +€20,188 | +12.4% |
| Amounts receivable within one year | 40/41 | €15,092 | €16,646 | +€1,554 | +10.3% |
| Trade receivables | 40 | €15,092 | €16,646 | +€1,554 | +10.3% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €47,131 | €166,051 | +€118,920 | +252% |
| Deferred charges and accrued income | 490/1 | €286 | - | -€286 | |
| Total equity and liabilities | 10/49 | €164,525 | €183,546 | +€19,020 | +11.6% |
| Equity | 10/15 | €91,926 | €55,602 | -€36,324 | -39.5% |
| Contributions | 10/11 | €3,524 | €1,890 | -€1,634 | -46.4% |
| Reserves | 13 | €68,712 | €53,712 | -€15,000 | -21.8% |
| Distributable reserves | 133 | €68,712 | €53,712 | -€15,000 | -21.8% |
| Profit (loss) carried forward | 14 | €19,690 | €1 | -€19,690 | -100.0% |
| Amounts payable | 17/49 | €72,599 | €127,944 | +€55,344 | +76.2% |
| Amounts payable within one year | 42/48 | €70,685 | €125,958 | +€55,273 | +78.2% |
| Trade debts | 44 | €4,328 | €6,304 | +€1,976 | +45.7% |
| Suppliers | 440/4 | €4,328 | €6,304 | +€1,976 | +45.7% |
| Taxes, remuneration and social security | 45 | €11,813 | €10,764 | -€1,049 | -8.9% |
| Taxes | 450/3 | €11,813 | €10,764 | -€1,049 | -8.9% |
| Other amounts payable | 47/48 | €54,544 | €108,890 | +€54,346 | +99.6% |
| Accrued charges and deferred income | 492/3 | €1,914 | €1,985 | +€71 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,567 | €1,168 | -€3,400 | -74.4% |
| Other operating charges | 640/8 | €828 | €644 | -€184 | -22.2% |
| Gross operating margin | 9900 | €47,361 | €59,204 | +€11,843 | +25.0% |
| Operating profit (loss) | 9901 | €41,966 | €57,392 | +€15,427 | +36.8% |
| Financial income | 75/76B | €1,265 | €2,721 | +€1,455 | +115% |
| Recurring financial income | 75 | €1,265 | €2,721 | +€1,455 | +115% |
| Financial charges | 65/66B | €1,972 | €2,047 | +€75 | +3.8% |
| Recurring financial charges | 65 | €1,972 | €2,047 | +€75 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €41,259 | €58,066 | +€16,807 | +40.7% |
| Income taxes | 67/77 | €13,412 | €15,406 | +€1,994 | +14.9% |
| Profit (loss) for the period | 9904 | €27,847 | €42,660 | +€14,813 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,847 | €42,660 | +€14,813 | +53.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.