GVR: 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.
GVR
Largest movements
- Cash +€13,200
up €13,200 (+74.8%), from €17,645 to €30,845
mainly Net result for the year (+€13,795) and Tax, wage and social debts (+€5,229)
- Tangible fixed assets +€3,723
up €3,723 (+102%), from €3,636 to €7,359
of which Plant, machinery and equipment: +€2,665
- Receivables within one year -€3,173
down €3,173 (-99.8%), from €3,178 to €5
of which Trade receivables: -€3,049
- Stocks and contracts +€1,948
up €1,948 (+29.4%), from €6,629 to €8,577
- Profit (loss) carried forward +€13,795
up €13,795, from -€12,525 to €1,270
- Tax, wage and social debts +€5,229
up €5,229 (+43.2%), from €12,116 to €17,345
of which Remuneration and social security: +€5,258
- Trade debts -€3,182
down €3,182 (-21.1%), from €15,045 to €11,863
- Gross operating margin +€12,561
up €12,561 (+16.0%), from €78,656 to €91,217
- Staff costs +€9,398
up €9,398 (+15.8%), from €59,450 to €68,848
- Taxes +€2,163
new in 2025: €2,163
- Other operating charges +€1,594
up €1,594 (+107%), from €1,488 to €3,083
- Financial charges +€1,082
up €1,082 (+267%), from €405 to €1,486
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 | €35,444 | €51,255 | +€15,811 | +44.6% |
| Fixed assets | 21/28 | €6,486 | €10,209 | +€3,723 | +57.4% |
| Tangible fixed assets | 22/27 | €3,636 | €7,359 | +€3,723 | +102% |
| Plant, machinery and equipment | 23 | €3,506 | €6,171 | +€2,665 | +76.0% |
| Furniture and vehicles | 24 | €85 | €1,188 | +€1,102 | +1,291% |
| Other tangible fixed assets | 26 | €44 | €0 | -€44 | -100% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €28,958 | €41,046 | +€12,088 | +41.7% |
| Stocks and contracts in progress | 3 | €6,629 | €8,577 | +€1,948 | +29.4% |
| Stocks | 30/36 | €6,629 | €8,577 | +€1,948 | +29.4% |
| Amounts receivable within one year | 40/41 | €3,178 | €5 | -€3,173 | -99.8% |
| Trade receivables | 40 | €3,054 | €5 | -€3,049 | -99.8% |
| Other amounts receivable | 41 | €124 | €0 | -€124 | -100% |
| Cash at bank and in hand | 54/58 | €17,645 | €30,845 | +€13,200 | +74.8% |
| Deferred charges and accrued income | 490/1 | €1,506 | €1,619 | +€113 | +7.5% |
| Total equity and liabilities | 10/49 | €35,444 | €51,255 | +€15,811 | +44.6% |
| Equity | 10/15 | €8,035 | €21,830 | +€13,795 | +172% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,960 | €1,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,960 | €1,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,525 | €1,270 | +€13,795 | |
| Amounts payable | 17/49 | €27,410 | €29,425 | +€2,016 | +7.4% |
| Amounts payable within one year | 42/48 | €27,410 | €29,425 | +€2,016 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €15,045 | €11,863 | -€3,182 | -21.1% |
| Suppliers | 440/4 | €15,045 | €11,863 | -€3,182 | -21.1% |
| Taxes, remuneration and social security | 45 | €12,116 | €17,345 | +€5,229 | +43.2% |
| Taxes | 450/3 | €3,567 | €3,538 | -€29 | -0.8% |
| Remuneration and social security | 454/9 | €8,549 | €13,808 | +€5,258 | +61.5% |
| Other amounts payable | 47/48 | €249 | €217 | -€31 | -12.6% |
| Remuneration, social security and pensions | 62 | €59,450 | €68,848 | +€9,398 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,680 | €1,954 | +€274 | +16.3% |
| Other operating charges | 640/8 | €1,488 | €3,083 | +€1,594 | +107% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €78,656 | €91,217 | +€12,561 | +16.0% |
| Operating profit (loss) | 9901 | €16,038 | €17,333 | +€1,295 | +8.1% |
| Financial income | 75/76B | €22 | €112 | +€90 | +412% |
| Recurring financial income | 75 | €22 | €112 | +€90 | +412% |
| Financial charges | 65/66B | €405 | €1,486 | +€1,082 | +267% |
| Recurring financial charges | 65 | €405 | €1,486 | +€1,082 | +267% |
| Profit (loss) for the period before taxes | 9903 | €15,655 | €15,958 | +€303 | +1.9% |
| Income taxes | 67/77 | - | €2,163 | +€2,163 | |
| Profit (loss) for the period | 9904 | €15,655 | €13,795 | -€1,860 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,655 | €13,795 | -€1,860 | -11.9% |
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 23 October 2026 via checked.be.