GVM MANAGEMENT: what changed
Two fiscal 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 MANAGEMENT
Largest movements
- Cash -€21,644
down €21,644 (-94.5%), from €22,892 to €1,248
mainly Net result for the year (-€32,863) and Tax, wage and social debts (-€12,264)
- Receivables within one year -€19,578
down €19,578 (-84.1%), from €23,273 to €3,696
of which Trade receivables: -€19,578
- Deferred charges and accrued income -€5,578
down €5,578 (-51.1%), from €10,918 to €5,339
- Tangible fixed assets -€1,052
down €1,052 (-7.7%), from €13,675 to €12,623
of which Other tangible fixed assets: -€1,023
- Intangible fixed assets +€1,040
new in 2025: €1,040
- Profit (loss) carried forward -€20,896
new in 2025: -€20,896
- Tax, wage and social debts -€12,264
down €12,264 (-82.5%), from €14,860 to €2,596
of which Taxes: -€11,009
- Reserves -€11,967
no longer reported in 2025 (was €11,967)
- Other debts -€3,946
down €3,946 (-17.9%), from €22,006 to €18,060
- Short-term financial debts +€1,440
new in 2025: €1,440
- Gross operating margin -€67,888
down €67,888, from €42,687 to -€25,201
- Staff costs -€35,267
down €35,267, from €35,233 to -€34
- Other operating charges +€3,597
up €3,597 (+928.7%), from €387 to €3,985
- Taxes -€2,785
down €2,785 (-87.8%), from €3,172 to €388
- Depreciation -€875
down €875 (-23.6%), from €3,714 to €2,839
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 | €70,758 | €23,946 | -€46,812 | -66.2% |
| Fixed assets | 21/28 | €13,675 | €13,663 | -€12 | -0.1% |
| Intangible fixed assets | 21 | - | €1,040 | +€1,040 | |
| Tangible fixed assets | 22/27 | €13,675 | €12,623 | -€1,052 | -7.7% |
| Plant, machinery and equipment | 23 | €1,999 | €1,599 | -€400 | -20.0% |
| Furniture and vehicles | 24 | €4,760 | €5,130 | +€370 | +7.8% |
| Other tangible fixed assets | 26 | €6,916 | €5,893 | -€1,023 | -14.8% |
| Current assets | 29/58 | €57,083 | €10,283 | -€46,800 | -82.0% |
| Amounts receivable within one year | 40/41 | €23,273 | €3,696 | -€19,578 | -84.1% |
| Trade receivables | 40 | €22,446 | €2,868 | -€19,578 | -87.2% |
| Other amounts receivable | 41 | €828 | €828 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,892 | €1,248 | -€21,644 | -94.5% |
| Deferred charges and accrued income | 490/1 | €10,918 | €5,339 | -€5,578 | -51.1% |
| Total equity and liabilities | 10/49 | €70,758 | €23,946 | -€46,812 | -66.2% |
| Equity | 10/15 | €14,967 | -€17,896 | -€32,863 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,967 | - | -€11,967 | |
| Distributable reserves | 133 | €11,967 | - | -€11,967 | |
| Profit (loss) carried forward | 14 | - | -€20,896 | -€20,896 | |
| Amounts payable | 17/49 | €55,791 | €41,842 | -€13,949 | -25.0% |
| Amounts payable within one year | 42/48 | €55,791 | €41,842 | -€13,949 | -25.0% |
| Financial debts | 43 | - | €1,440 | +€1,440 | |
| Credit institutions | 430/8 | - | €1,440 | +€1,440 | |
| Trade debts | 44 | €18,926 | €19,747 | +€821 | +4.3% |
| Suppliers | 440/4 | €18,926 | €19,747 | +€821 | +4.3% |
| Taxes, remuneration and social security | 45 | €14,860 | €2,596 | -€12,264 | -82.5% |
| Taxes | 450/3 | €12,210 | €1,201 | -€11,009 | -90.2% |
| Remuneration and social security | 454/9 | €2,649 | €1,394 | -€1,255 | -47.4% |
| Other amounts payable | 47/48 | €22,006 | €18,060 | -€3,946 | -17.9% |
| Remuneration, social security and pensions | 62 | €35,233 | -€34 | -€35,267 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,714 | €2,839 | -€875 | -23.6% |
| Other operating charges | 640/8 | €387 | €3,985 | +€3,597 | +928.7% |
| Gross operating margin | 9900 | €42,687 | -€25,201 | -€67,888 | |
| Operating profit (loss) | 9901 | €3,352 | -€31,991 | -€35,344 | |
| Financial income | 75/76B | €0 | €6 | +€6 | +57000.0% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +57000.0% |
| Financial charges | 65/66B | €740 | €490 | -€250 | -33.8% |
| Recurring financial charges | 65 | €740 | €490 | -€250 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €2,613 | -€32,475 | -€35,088 | |
| Income taxes | 67/77 | €3,172 | €388 | -€2,785 | -87.8% |
| Profit (loss) for the period | 9904 | -€560 | -€32,863 | -€32,303 | -5772.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€560 | -€32,863 | -€32,303 | -5772.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.