GVHDJ: 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.
GVHDJ
Largest movements
- Receivables within one year +€10,580
up €10,580 (+760%), from €1,392 to €11,972
of which Trade receivables: +€10,580
- Cash +€1,302
up €1,302 (+4.6%), from €28,005 to €29,307
mainly Net result for the year (+€12,062) and Tax, wage and social debts (+€2,416)
- Deferred charges and accrued income +€996
new in 2025: €996
- Profit (loss) carried forward +€11,262
up €11,262 (+59.6%), from €18,910 to €30,172
- Tax, wage and social debts +€2,416
up €2,416 (+76.5%), from €3,158 to €5,575
of which Taxes: +€1,393
- Other debts -€1,766
down €1,766 (-29.3%), from €6,034 to €4,267
- Trade debts +€727
up €727, from €0 to €727
- Gross operating margin -€1,973
down €1,973 (-9.3%), from €21,307 to €19,334
- Other operating charges +€1,073
up €1,073 (+1,153%), from €93 to €1,166
- Depreciation -€629
down €629 (-72.4%), from €869 to €240
- Taxes +€382
up €382 (+7.0%), from €5,461 to €5,843
From the 2024 result to the 2025 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.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,102 | €42,741 | +€12,639 | +42.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €706 | €466 | -€240 | -34.0% |
| Tangible fixed assets | 22/27 | €706 | €466 | -€240 | -34.0% |
| Furniture and vehicles | 24 | €706 | €466 | -€240 | -34.0% |
| Current assets | 29/58 | €29,396 | €42,275 | +€12,878 | +43.8% |
| Amounts receivable within one year | 40/41 | €1,392 | €11,972 | +€10,580 | +760% |
| Trade receivables | 40 | €353 | €10,933 | +€10,580 | +2,998% |
| Other amounts receivable | 41 | €1,039 | €1,039 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,005 | €29,307 | +€1,302 | +4.6% |
| Deferred charges and accrued income | 490/1 | - | €996 | +€996 | |
| Total equity and liabilities | 10/49 | €30,102 | €42,741 | +€12,639 | +42.0% |
| Equity | 10/15 | €20,910 | €32,172 | +€11,262 | +53.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,910 | €30,172 | +€11,262 | +59.6% |
| Amounts payable | 17/49 | €9,192 | €10,569 | +€1,377 | +15.0% |
| Amounts payable within one year | 42/48 | €9,192 | €10,569 | +€1,377 | +15.0% |
| Trade debts | 44 | €0 | €727 | +€727 | |
| Suppliers | 440/4 | €0 | €727 | +€727 | |
| Taxes, remuneration and social security | 45 | €3,158 | €5,575 | +€2,416 | +76.5% |
| Taxes | 450/3 | €3,158 | €4,551 | +€1,393 | +44.1% |
| Remuneration and social security | 454/9 | €0 | €1,023 | +€1,023 | |
| Other amounts payable | 47/48 | €6,034 | €4,267 | -€1,766 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €869 | €240 | -€629 | -72.4% |
| Other operating charges | 640/8 | €93 | €1,166 | +€1,073 | +1,153% |
| Gross operating margin | 9900 | €21,307 | €19,334 | -€1,973 | -9.3% |
| Operating profit (loss) | 9901 | €20,345 | €17,927 | -€2,417 | -11.9% |
| Financial income | 75/76B | €45 | €0 | -€45 | -100% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -100% |
| Financial charges | 65/66B | €44 | €23 | -€21 | -48.7% |
| Recurring financial charges | 65 | €44 | €23 | -€21 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €20,346 | €17,905 | -€2,441 | -12.0% |
| Income taxes | 67/77 | €5,461 | €5,843 | +€382 | +7.0% |
| Profit (loss) for the period | 9904 | €14,884 | €12,062 | -€2,823 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,884 | €12,062 | -€2,823 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.