GVS: 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.
GVS
Largest movements
- Receivables within one year +€39,302
up €39,302 (+386.8%), from €10,161 to €49,463
of which Other amounts receivable: +€38,546
- Stocks and contracts -€27,477
down €27,477 (-32.8%), from €83,767 to €56,290
- Cash -€14,182
down €14,182 (-70.7%), from €20,049 to €5,867
mainly Receivables within one year (-€39,302) and Investment in fixed assets (net) (-€12,034)
- Tangible fixed assets -€4,195
down €4,195 (-13.7%), from €30,633 to €26,438
of which Furniture and vehicles: -€9,593
- Trade debts -€5,768
down €5,768 (-16.7%), from €34,457 to €28,689
- Gross operating margin -€22,190
down €22,190 (-22.9%), from €97,097 to €74,907
- Staff costs -€4,415
down €4,415 (-6.8%), from €65,348 to €60,933
- Taxes -€3,744
down €3,744 (-67.5%), from €5,548 to €1,804
- Financial income +€1,428
up €1,428 (+41.4%), from €3,447 to €4,874
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,865 | €143,046 | -€5,819 | -3.9% |
| Fixed assets | 21/28 | €30,633 | €26,438 | -€4,195 | -13.7% |
| Tangible fixed assets | 22/27 | €30,633 | €26,438 | -€4,195 | -13.7% |
| Land and buildings | 22 | €14,372 | €11,742 | -€2,630 | -18.3% |
| Plant, machinery and equipment | 23 | €2,722 | €10,750 | +€8,028 | +295.0% |
| Furniture and vehicles | 24 | €13,539 | €3,946 | -€9,593 | -70.9% |
| Current assets | 29/58 | €118,232 | €116,608 | -€1,624 | -1.4% |
| Stocks and contracts in progress | 3 | €83,767 | €56,290 | -€27,477 | -32.8% |
| Stocks | 30/36 | €83,767 | €56,290 | -€27,477 | -32.8% |
| Amounts receivable within one year | 40/41 | €10,161 | €49,463 | +€39,302 | +386.8% |
| Trade receivables | 40 | - | €756 | +€756 | |
| Other amounts receivable | 41 | €10,161 | €48,707 | +€38,546 | +379.4% |
| Cash at bank and in hand | 54/58 | €20,049 | €5,867 | -€14,182 | -70.7% |
| Deferred charges and accrued income | 490/1 | €4,256 | €4,989 | +€733 | +17.2% |
| Total equity and liabilities | 10/49 | €148,865 | €143,046 | -€5,819 | -3.9% |
| Equity | 10/15 | €100,207 | €100,065 | -€142 | -0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €81,615 | €81,615 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €79,756 | €79,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€142 | -€142 | |
| Amounts payable | 17/49 | €48,658 | €42,981 | -€5,678 | -11.7% |
| Amounts payable within one year | 42/48 | €48,658 | €42,981 | -€5,678 | -11.7% |
| Trade debts | 44 | €34,457 | €28,689 | -€5,768 | -16.7% |
| Suppliers | 440/4 | €34,457 | €28,689 | -€5,768 | -16.7% |
| Taxes, remuneration and social security | 45 | €14,201 | €14,292 | +€91 | +0.6% |
| Taxes | 450/3 | €9,236 | €9,672 | +€436 | +4.7% |
| Remuneration and social security | 454/9 | €4,965 | €4,620 | -€345 | -7.0% |
| Remuneration, social security and pensions | 62 | €65,348 | €60,933 | -€4,415 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,772 | €16,229 | +€457 | +2.9% |
| Other operating charges | 640/8 | - | €437 | +€437 | |
| Non-recurring operating charges | 66A | €9,999 | - | -€9,999 | |
| Gross operating margin | 9900 | €97,097 | €74,907 | -€22,190 | -22.9% |
| Operating profit (loss) | 9901 | €5,978 | -€2,692 | -€8,670 | |
| Financial income | 75/76B | €3,447 | €4,874 | +€1,428 | +41.4% |
| Recurring financial income | 75 | €3,447 | €4,874 | +€1,428 | +41.4% |
| Financial charges | 65/66B | €282 | €519 | +€237 | +84.1% |
| Recurring financial charges | 65 | €282 | €519 | +€237 | +84.1% |
| Profit (loss) for the period before taxes | 9903 | €9,143 | €1,663 | -€7,480 | -81.8% |
| Income taxes | 67/77 | €5,548 | €1,804 | -€3,744 | -67.5% |
| Profit (loss) for the period | 9904 | €3,595 | -€142 | -€3,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,595 | -€142 | -€3,736 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.