GVH WELDING: what changed
GVH WELDING
Largest movements
- Cash +€35,084
up €35,084 (+309%), from €11,338 to €46,422
mainly Other debts (+€37,697) and Trade debts (+€25,783)
- Receivables within one year +€14,529
up €14,529 (+86.4%), from €16,817 to €31,346
of which Trade receivables: +€13,517
- Stocks and contracts +€3,275
up €3,275 (+26.1%), from €12,550 to €15,825
- Tangible fixed assets -€2,082
down €2,082 (-10.1%), from €20,532 to €18,450
- Other debts +€37,697
up €37,697 (+1,496%), from €2,520 to €40,218
- Trade debts +€25,783
up €25,783 (+1,390%), from €1,855 to €27,638
- Profit (loss) carried forward -€19,343
no longer reported in 2025 (was €19,343)
- Tax, wage and social debts +€7,198
up €7,198 (+211%), from €3,407 to €10,605
- Gross operating margin +€30,608
up €30,608, from -€379 to €30,230
- Taxes +€6,068
up €6,068, from -€80 to €5,988
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 | €61,236 | €112,043 | +€50,806 | +83.0% |
| Fixed assets | 21/28 | €20,532 | €18,450 | -€2,082 | -10.1% |
| Tangible fixed assets | 22/27 | €20,532 | €18,450 | -€2,082 | -10.1% |
| Land and buildings | 22 | €14,555 | €13,554 | -€1,001 | -6.9% |
| Plant, machinery and equipment | 23 | €5,414 | €4,671 | -€743 | -13.7% |
| Furniture and vehicles | 24 | €562 | €225 | -€337 | -60.0% |
| Current assets | 29/58 | €40,704 | €93,593 | +€52,888 | +130% |
| Stocks and contracts in progress | 3 | €12,550 | €15,825 | +€3,275 | +26.1% |
| Stocks | 30/36 | €12,550 | €15,825 | +€3,275 | +26.1% |
| Amounts receivable within one year | 40/41 | €16,817 | €31,346 | +€14,529 | +86.4% |
| Trade receivables | 40 | €9,817 | €23,334 | +€13,517 | +138% |
| Other amounts receivable | 41 | €7,000 | €8,012 | +€1,012 | +14.5% |
| Cash at bank and in hand | 54/58 | €11,338 | €46,422 | +€35,084 | +309% |
| Total equity and liabilities | 10/49 | €61,236 | €112,043 | +€50,806 | +83.0% |
| Equity | 10/15 | €53,454 | €33,582 | -€19,872 | -37.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,911 | €27,382 | -€529 | -1.9% |
| Distributable reserves | 133 | €27,911 | €27,382 | -€529 | -1.9% |
| Profit (loss) carried forward | 14 | €19,343 | - | -€19,343 | |
| Amounts payable | 17/49 | €7,782 | €78,461 | +€70,678 | +908% |
| Amounts payable within one year | 42/48 | €7,782 | €78,461 | +€70,678 | +908% |
| Trade debts | 44 | €1,855 | €27,638 | +€25,783 | +1,390% |
| Suppliers | 440/4 | €1,855 | €27,638 | +€25,783 | +1,390% |
| Taxes, remuneration and social security | 45 | €3,407 | €10,605 | +€7,198 | +211% |
| Taxes | 450/3 | €3,407 | €10,605 | +€7,198 | +211% |
| Other amounts payable | 47/48 | €2,520 | €40,218 | +€37,697 | +1,496% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,608 | €3,387 | -€221 | -6.1% |
| Other operating charges | 640/8 | €469 | €546 | +€76 | +16.3% |
| Gross operating margin | 9900 | -€379 | €30,230 | +€30,608 | |
| Operating profit (loss) | 9901 | -€4,456 | €26,297 | +€30,753 | |
| Financial income | 75/76B | €70 | - | -€70 | |
| Recurring financial income | 75 | €70 | - | -€70 | |
| Financial charges | 65/66B | €141 | €181 | +€40 | +28.7% |
| Recurring financial charges | 65 | €141 | €181 | +€40 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,526 | €26,116 | +€30,642 | |
| Income taxes | 67/77 | -€80 | €5,988 | +€6,068 | |
| Profit (loss) for the period | 9904 | -€4,446 | €20,128 | +€24,574 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,446 | €20,128 | +€24,574 |
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 3 November 2026 via checked.be.