GVR DESSEL: 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 DESSEL
Largest movements
- Cash +€79,933
up €79,933 (+112%), from €71,578 to €151,511
mainly Net result for the year (+€87,076) and Tax, wage and social debts (+€27,723)
- Tangible fixed assets -€16,312
down €16,312 (-22.8%), from €71,400 to €55,087
of which Furniture and vehicles: -€9,081
- Stocks and contracts -€7,997
down €7,997 (-23.7%), from €33,726 to €25,728
- Profit (loss) carried forward +€87,076
up €87,076 (+113%), from €76,735 to €163,811
- Other debts -€64,588
down €64,588 (-78.1%), from €82,649 to €18,061
- Tax, wage and social debts +€27,723
up €27,723 (+211%), from €13,157 to €40,880
of which Taxes: +€18,545
- Trade debts +€2,958
up €2,958 (+17.4%), from €17,022 to €19,980
- Gross operating margin +€66,877
up €66,877 (+45.5%), from €147,046 to €213,924
- Taxes +€25,048
up €25,048 (+370%), from €6,777 to €31,825
- Staff costs -€14,515
down €14,515 (-16.8%), from €86,525 to €72,010
- Other operating charges -€7,927
down €7,927 (-83.0%), from €9,554 to €1,628
- Depreciation -€7,460
down €7,460 (-26.6%), from €28,049 to €20,589
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 | €208,217 | €261,386 | +€53,169 | +25.5% |
| Fixed assets | 21/28 | €71,974 | €55,087 | -€16,887 | -23.5% |
| Intangible fixed assets | 21 | €574 | - | -€574 | |
| Tangible fixed assets | 22/27 | €71,400 | €55,087 | -€16,312 | -22.8% |
| Plant, machinery and equipment | 23 | €21,073 | €15,101 | -€5,972 | -28.3% |
| Furniture and vehicles | 24 | €47,732 | €38,651 | -€9,081 | -19.0% |
| Other tangible fixed assets | 26 | €2,595 | €1,335 | -€1,259 | -48.5% |
| Current assets | 29/58 | €136,243 | €206,299 | +€70,056 | +51.4% |
| Stocks and contracts in progress | 3 | €33,726 | €25,728 | -€7,997 | -23.7% |
| Stocks | 30/36 | €33,726 | €25,728 | -€7,997 | -23.7% |
| Amounts receivable within one year | 40/41 | €30,940 | €29,060 | -€1,879 | -6.1% |
| Trade receivables | 40 | €25,217 | €29,060 | +€3,843 | +15.2% |
| Other amounts receivable | 41 | €5,723 | - | -€5,723 | |
| Cash at bank and in hand | 54/58 | €71,578 | €151,511 | +€79,933 | +112% |
| Total equity and liabilities | 10/49 | €208,217 | €261,386 | +€53,169 | +25.5% |
| Equity | 10/15 | €95,389 | €182,465 | +€87,076 | +91.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54 | €54 | = | 0.0% |
| Non-distributable reserves | 130/1 | €54 | - | -€54 | |
| Reserves not available under the articles | 1311 | €54 | - | -€54 | |
| Distributable reserves | 133 | - | €54 | +€54 | |
| Profit (loss) carried forward | 14 | €76,735 | €163,811 | +€87,076 | +113% |
| Amounts payable | 17/49 | €112,828 | €78,921 | -€33,907 | -30.1% |
| Amounts payable within one year | 42/48 | €112,828 | €78,921 | -€33,907 | -30.1% |
| Trade debts | 44 | €17,022 | €19,980 | +€2,958 | +17.4% |
| Suppliers | 440/4 | €17,022 | €19,980 | +€2,958 | +17.4% |
| Taxes, remuneration and social security | 45 | €13,157 | €40,880 | +€27,723 | +211% |
| Taxes | 450/3 | €4,371 | €22,916 | +€18,545 | +424% |
| Remuneration and social security | 454/9 | €8,787 | €17,964 | +€9,178 | +104% |
| Other amounts payable | 47/48 | €82,649 | €18,061 | -€64,588 | -78.1% |
| Non-recurring operating income | 76A | €207 | - | -€207 | |
| Remuneration, social security and pensions | 62 | €86,525 | €72,010 | -€14,515 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,049 | €20,589 | -€7,460 | -26.6% |
| Other operating charges | 640/8 | €9,554 | €1,628 | -€7,927 | -83.0% |
| Gross operating margin | 9900 | €147,046 | €213,924 | +€66,877 | +45.5% |
| Operating profit (loss) | 9901 | €22,919 | €119,697 | +€96,779 | +422% |
| Financial income | 75/76B | €299 | €160 | -€139 | -46.5% |
| Recurring financial income | 75 | €299 | €160 | -€139 | -46.5% |
| Financial charges | 65/66B | €101 | €956 | +€854 | +842% |
| Recurring financial charges | 65 | €101 | €956 | +€854 | +842% |
| Profit (loss) for the period before taxes | 9903 | €23,116 | €118,902 | +€95,786 | +414% |
| Income taxes | 67/77 | €6,777 | €31,825 | +€25,048 | +370% |
| Profit (loss) for the period | 9904 | €16,339 | €87,076 | +€70,738 | +433% |
| Profit (loss) for the period to be appropriated | 9905 | €16,339 | €87,076 | +€70,738 | +433% |
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 20 October 2026 via checked.be.