GVM Logistics: 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.
GVM Logistics
Largest movements
- Cash -€15,806
down €15,806 (-9.1%), from €173,341 to €157,535
mainly Net result for the year (-€20,711) and Debts after one year (-€6,120)
- Tangible fixed assets -€14,993
down €14,993 (-63.5%), from €23,621 to €8,628
of which Leasing and similar rights: -€13,242
- Receivables within one year -€4,603
down €4,603 (-13.6%), from €33,812 to €29,209
of which Other amounts receivable: -€21,199
- Reserves -€20,711
down €20,711 (-10.9%), from €190,675 to €169,964
of which Distributable reserves: -€20,711
- Debts after one year -€6,120
no longer reported in 2025 (was €6,120)
- Current portion of long-term debt -€5,689
down €5,689 (-49.7%), from €11,454 to €5,766
- Gross operating margin -€11,276
down €11,276, from €7,797 to -€3,479
- Other operating charges -€3,878
down €3,878 (-74.2%), from €5,230 to €1,351
- Financial charges +€342
up €342 (+102.1%), from €335 to €677
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.
Cash bridge derived
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 | €231,521 | €196,251 | -€35,270 | -15.2% |
| Fixed assets | 21/28 | €23,621 | €8,628 | -€14,993 | -63.5% |
| Tangible fixed assets | 22/27 | €23,621 | €8,628 | -€14,993 | -63.5% |
| Plant, machinery and equipment | 23 | €223 | €72 | -€151 | -67.6% |
| Furniture and vehicles | 24 | €2,901 | €1,300 | -€1,601 | -55.2% |
| Leasing and similar rights | 25 | €20,498 | €7,256 | -€13,242 | -64.6% |
| Current assets | 29/58 | €207,899 | €187,623 | -€20,276 | -9.8% |
| Amounts receivable within one year | 40/41 | €33,812 | €29,209 | -€4,603 | -13.6% |
| Trade receivables | 40 | €1,930 | €18,526 | +€16,596 | +859.9% |
| Other amounts receivable | 41 | €31,882 | €10,684 | -€21,199 | -66.5% |
| Cash at bank and in hand | 54/58 | €173,341 | €157,535 | -€15,806 | -9.1% |
| Deferred charges and accrued income | 490/1 | €746 | €879 | +€133 | +17.8% |
| Total equity and liabilities | 10/49 | €231,521 | €196,251 | -€35,270 | -15.2% |
| Equity | 10/15 | €209,275 | €188,564 | -€20,711 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €190,675 | €169,964 | -€20,711 | -10.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €188,815 | €168,104 | -€20,711 | -11.0% |
| Amounts payable | 17/49 | €22,246 | €7,688 | -€14,558 | -65.4% |
| Amounts payable after more than one year | 17 | €6,120 | - | -€6,120 | |
| Financial debts | 170/4 | €6,120 | - | -€6,120 | |
| Amounts payable within one year | 42/48 | €16,126 | €7,688 | -€8,439 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €11,454 | €5,766 | -€5,689 | -49.7% |
| Trade debts | 44 | €3,026 | €1,453 | -€1,573 | -52.0% |
| Suppliers | 440/4 | €3,026 | €1,453 | -€1,573 | -52.0% |
| Taxes, remuneration and social security | 45 | €1,647 | €310 | -€1,337 | -81.2% |
| Taxes | 450/3 | €1,647 | €310 | -€1,337 | -81.2% |
| Other amounts payable | 47/48 | - | €159 | +€159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,993 | €14,993 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,230 | €1,351 | -€3,878 | -74.2% |
| Non-recurring operating charges | 66A | €270 | - | -€270 | |
| Gross operating margin | 9900 | €7,797 | -€3,479 | -€11,276 | |
| Operating profit (loss) | 9901 | -€12,696 | -€19,824 | -€7,127 | -56.1% |
| Financial income | 75/76B | €70 | - | -€70 | |
| Recurring financial income | 75 | €70 | - | -€70 | |
| Financial charges | 65/66B | €335 | €677 | +€342 | +102.1% |
| Recurring financial charges | 65 | €335 | €677 | +€342 | +102.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,962 | -€20,501 | -€7,539 | -58.2% |
| Income taxes | 67/77 | €212 | €211 | -€2 | -0.8% |
| Profit (loss) for the period | 9904 | -€13,174 | -€20,711 | -€7,538 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,174 | -€20,711 | -€7,538 | -57.2% |
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 12 October 2026 via checked.be.