GVH X-PRESS: what changed
GVH X-PRESS
Largest movements
- Cash -€33,709
down €33,709 (-60.2%), from €55,959 to €22,250
mainly Other debts (-€18,149) and Current portion of long-term debt (-€12,623)
- Deferred charges and accrued income -€11,091
down €11,091 (-58.5%), from €18,968 to €7,877
- Receivables within one year +€4,709
up €4,709 (+18.4%), from €25,561 to €30,270
of which Other amounts receivable: +€6,284
- Receivables after one year -€2,111
down €2,111 (-11.4%), from €18,545 to €16,434
- Other debts -€18,149
no longer reported in 2025 (was €18,149)
- Current portion of long-term debt -€12,623
down €12,623 (-79.9%), from €15,803 to €3,180
- Tax, wage and social debts -€11,929
down €11,929 (-52.1%), from €22,913 to €10,984
of which Taxes: -€7,889
- Short-term financial debts -€10,067
down €10,067 (-99.7%), from €10,098 to €30
- Reserves +€7,475
up €7,475 (+19.0%), from €39,375 to €46,850
- Financial income -€26,808
down €26,808 (-98.7%), from €27,163 to €354
of which Non-recurring financial income: -€25,982
- Taxes -€5,213
down €5,213 (-47.9%), from €10,888 to €5,675
- Gross operating margin +€2,675
up €2,675 (+2.3%), from €117,564 to €120,239
- Financial charges +€1,599
up €1,599 (+43.8%), from €3,648 to €5,247
- Staff costs -€1,227
down €1,227 (-1.3%), from €93,570 to €92,343
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 | €133,885 | €91,740 | -€42,146 | -31.5% |
| Fixed assets | 21/28 | €14,852 | €14,908 | +€56 | +0.4% |
| Tangible fixed assets | 22/27 | €14,852 | €14,908 | +€56 | +0.4% |
| Plant, machinery and equipment | 23 | €836 | €275 | -€561 | -67.1% |
| Furniture and vehicles | 24 | €7,782 | €4,681 | -€3,101 | -39.8% |
| Other tangible fixed assets | 26 | €6,234 | €9,952 | +€3,718 | +59.6% |
| Current assets | 29/58 | €119,033 | €76,831 | -€42,202 | -35.5% |
| Amounts receivable after more than one year | 29 | €18,545 | €16,434 | -€2,111 | -11.4% |
| Other amounts receivable | 291 | €18,545 | €16,434 | -€2,111 | -11.4% |
| Amounts receivable within one year | 40/41 | €25,561 | €30,270 | +€4,709 | +18.4% |
| Trade receivables | 40 | €25,553 | €23,978 | -€1,574 | -6.2% |
| Other amounts receivable | 41 | €8 | €6,292 | +€6,284 | +77,574% |
| Cash at bank and in hand | 54/58 | €55,959 | €22,250 | -€33,709 | -60.2% |
| Deferred charges and accrued income | 490/1 | €18,968 | €7,877 | -€11,091 | -58.5% |
| Total equity and liabilities | 10/49 | €133,885 | €91,740 | -€42,146 | -31.5% |
| Equity | 10/15 | €44,375 | €51,850 | +€7,475 | +16.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,375 | €46,850 | +€7,475 | +19.0% |
| Distributable reserves | 133 | €39,375 | €46,850 | +€7,475 | +19.0% |
| Amounts payable | 17/49 | €89,510 | €39,890 | -€49,620 | -55.4% |
| Amounts payable after more than one year | 17 | €10,964 | €7,783 | -€3,180 | -29.0% |
| Financial debts | 170/4 | €10,964 | €7,783 | -€3,180 | -29.0% |
| Amounts payable within one year | 42/48 | €77,986 | €31,297 | -€46,689 | -59.9% |
| Current portion of amounts payable after more than one year | 42 | €15,803 | €3,180 | -€12,623 | -79.9% |
| Financial debts | 43 | €10,098 | €30 | -€10,067 | -99.7% |
| Credit institutions | 430/8 | €10,098 | €30 | -€10,067 | -99.7% |
| Trade debts | 44 | €11,023 | €17,103 | +€6,079 | +55.1% |
| Suppliers | 440/4 | €11,023 | €17,103 | +€6,079 | +55.1% |
| Taxes, remuneration and social security | 45 | €22,913 | €10,984 | -€11,929 | -52.1% |
| Taxes | 450/3 | €8,912 | €1,022 | -€7,889 | -88.5% |
| Remuneration and social security | 454/9 | €14,002 | €9,961 | -€4,040 | -28.9% |
| Other amounts payable | 47/48 | €18,149 | - | -€18,149 | |
| Accrued charges and deferred income | 492/3 | €561 | €810 | +€249 | +44.5% |
| Remuneration, social security and pensions | 62 | €93,570 | €92,343 | -€1,227 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,923 | €6,341 | +€418 | +7.1% |
| Other operating charges | 640/8 | €4,697 | €3,513 | -€1,184 | -25.2% |
| Non-recurring operating charges | 66A | €5,975 | - | -€5,975 | |
| Gross operating margin | 9900 | €117,564 | €120,239 | +€2,675 | +2.3% |
| Operating profit (loss) | 9901 | €7,398 | €18,042 | +€10,644 | +144% |
| Financial income | 75/76B | €27,163 | €354 | -€26,808 | -98.7% |
| Recurring financial income | 75 | €1,180 | €354 | -€826 | -70.0% |
| Non-recurring financial income | 76B | €25,982 | - | -€25,982 | |
| Financial charges | 65/66B | €3,648 | €5,247 | +€1,599 | +43.8% |
| Recurring financial charges | 65 | €3,648 | €5,247 | +€1,599 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €30,913 | €13,150 | -€17,763 | -57.5% |
| Income taxes | 67/77 | €10,888 | €5,675 | -€5,213 | -47.9% |
| Profit (loss) for the period | 9904 | €20,025 | €7,475 | -€12,550 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,025 | €7,475 | -€12,550 | -62.7% |
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 7 November 2026 via checked.be.