GVQ: 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.
GVQ
Largest movements
- Cash -€24,334
down €24,334 (-79.1%), from €30,761 to €6,427
mainly Other debts (-€20,062) and Net result for the year (-€7,115)
- Tangible fixed assets -€7,042
down €7,042 (-27.5%), from €25,639 to €18,597
of which Furniture and vehicles: -€6,667
- Receivables within one year -€4,204
down €4,204 (-28.5%), from €14,744 to €10,540
of which Trade receivables: -€4,448
- Other debts -€20,062
down €20,062 (-30.1%), from €66,622 to €46,561
- Profit (loss) carried forward -€7,115
down €7,115 (-19.7%), from €36,085 to €28,970
- Tax, wage and social debts -€5,431
down €5,431 (-75.3%), from €7,212 to €1,781
- Trade debts -€2,431
down €2,431 (-89.1%), from €2,730 to €299
- Gross operating margin -€18,215
down €18,215 (-92.4%), from €19,710 to €1,496
- Taxes -€4,516
down €4,516 (-64.4%), from €7,017 to €2,501
- Financial income +€2,444
new in 2025: €2,444
- Other operating charges -€1,078
down €1,078 (-51.4%), from €2,096 to €1,018
- Financial charges +€403
up €403 (+442.8%), from €91 to €494
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 | €151,028 | €115,989 | -€35,039 | -23.2% |
| Fixed assets | 21/28 | €25,639 | €18,597 | -€7,042 | -27.5% |
| Tangible fixed assets | 22/27 | €25,639 | €18,597 | -€7,042 | -27.5% |
| Plant, machinery and equipment | 23 | €1,000 | €625 | -€375 | -37.5% |
| Furniture and vehicles | 24 | €24,639 | €17,972 | -€6,667 | -27.1% |
| Current assets | 29/58 | €125,389 | €97,392 | -€27,997 | -22.3% |
| Amounts receivable within one year | 40/41 | €14,744 | €10,540 | -€4,204 | -28.5% |
| Trade receivables | 40 | €14,744 | €10,296 | -€4,448 | -30.2% |
| Other amounts receivable | 41 | - | €244 | +€244 | |
| Current investments | 50/53 | €75,000 | €75,609 | +€609 | +0.8% |
| Cash at bank and in hand | 54/58 | €30,761 | €6,427 | -€24,334 | -79.1% |
| Deferred charges and accrued income | 490/1 | €4,884 | €4,815 | -€69 | -1.4% |
| Total equity and liabilities | 10/49 | €151,028 | €115,989 | -€35,039 | -23.2% |
| Equity | 10/15 | €74,463 | €67,348 | -€7,115 | -9.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €19,828 | €19,828 | = | 0.0% |
| Distributable reserves | 133 | €19,828 | €19,828 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,085 | €28,970 | -€7,115 | -19.7% |
| Amounts payable | 17/49 | €76,565 | €48,640 | -€27,924 | -36.5% |
| Amounts payable within one year | 42/48 | €76,565 | €48,640 | -€27,924 | -36.5% |
| Trade debts | 44 | €2,730 | €299 | -€2,431 | -89.1% |
| Suppliers | 440/4 | €2,730 | €299 | -€2,431 | -89.1% |
| Taxes, remuneration and social security | 45 | €7,212 | €1,781 | -€5,431 | -75.3% |
| Taxes | 450/3 | €7,212 | €1,781 | -€5,431 | -75.3% |
| Other amounts payable | 47/48 | €66,622 | €46,561 | -€20,062 | -30.1% |
| Non-recurring operating income | 76A | €750 | - | -€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,042 | €7,042 | = | 0.0% |
| Other operating charges | 640/8 | €2,096 | €1,018 | -€1,078 | -51.4% |
| Gross operating margin | 9900 | €19,710 | €1,496 | -€18,215 | -92.4% |
| Operating profit (loss) | 9901 | €10,573 | -€6,564 | -€17,137 | |
| Financial income | 75/76B | - | €2,444 | +€2,444 | |
| Recurring financial income | 75 | - | €2,444 | +€2,444 | |
| Financial charges | 65/66B | €91 | €494 | +€403 | +442.8% |
| Recurring financial charges | 65 | €91 | €494 | +€403 | +442.8% |
| Profit (loss) for the period before taxes | 9903 | €10,482 | -€4,614 | -€15,096 | |
| Income taxes | 67/77 | €7,017 | €2,501 | -€4,516 | -64.4% |
| Profit (loss) for the period | 9904 | €3,465 | -€7,115 | -€10,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,465 | -€7,115 | -€10,579 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.