GVS ELECTRONICS: 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.
GVS ELECTRONICS
Largest movements
- Tangible fixed assets -€12,891
down €12,891 (-28.1%), from €45,919 to €33,028
of which Furniture and vehicles: -€15,899
- Cash +€12,795
up €12,795 (+8.7%), from €147,089 to €159,884
mainly Other debts (+€84,051) and Net result for the year (+€28,924)
- Receivables within one year +€9,206
up €9,206 (+56.1%), from €16,421 to €25,626
of which Trade receivables: +€4,817
- Other debts +€84,051
up €84,051 (+274.3%), from €30,641 to €114,692
- Reserves -€71,076
down €71,076 (-56.5%), from €125,903 to €54,827
- Debts after one year -€14,901
down €14,901 (-60.9%), from €24,467 to €9,566
- Trade debts +€7,559
up €7,559 (+82.8%), from €9,132 to €16,691
- Tax, wage and social debts +€2,538
up €2,538 (+131.2%), from €1,935 to €4,473
of which Taxes: +€2,418
- Gross operating margin -€5,007
down €5,007 (-7.8%), from €64,171 to €59,165
- Taxes +€684
up €684 (+7.2%), from €9,438 to €10,122
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 | €219,949 | €230,708 | +€10,759 | +4.9% |
| Fixed assets | 21/28 | €45,919 | €33,028 | -€12,891 | -28.1% |
| Tangible fixed assets | 22/27 | €45,919 | €33,028 | -€12,891 | -28.1% |
| Plant, machinery and equipment | 23 | - | €3,008 | +€3,008 | |
| Furniture and vehicles | 24 | €45,919 | €30,020 | -€15,899 | -34.6% |
| Current assets | 29/58 | €174,030 | €197,680 | +€23,650 | +13.6% |
| Stocks and contracts in progress | 3 | €7,781 | €9,621 | +€1,840 | +23.6% |
| Stocks | 30/36 | €7,781 | €9,621 | +€1,840 | +23.6% |
| Amounts receivable within one year | 40/41 | €16,421 | €25,626 | +€9,206 | +56.1% |
| Trade receivables | 40 | €16,421 | €21,237 | +€4,817 | +29.3% |
| Other amounts receivable | 41 | - | €4,389 | +€4,389 | |
| Cash at bank and in hand | 54/58 | €147,089 | €159,884 | +€12,795 | +8.7% |
| Deferred charges and accrued income | 490/1 | €2,739 | €2,549 | -€190 | -6.9% |
| Total equity and liabilities | 10/49 | €219,949 | €230,708 | +€10,759 | +4.9% |
| Equity | 10/15 | €133,403 | €62,327 | -€71,076 | -53.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €125,903 | €54,827 | -€71,076 | -56.5% |
| Distributable reserves | 133 | €125,903 | €54,827 | -€71,076 | -56.5% |
| Amounts payable | 17/49 | €86,546 | €168,381 | +€81,835 | +94.6% |
| Amounts payable after more than one year | 17 | €24,467 | €9,566 | -€14,901 | -60.9% |
| Financial debts | 170/4 | €24,467 | €9,566 | -€14,901 | -60.9% |
| Amounts payable within one year | 42/48 | €61,905 | €158,257 | +€96,352 | +155.6% |
| Financial debts | 43 | €20,197 | €22,401 | +€2,203 | +10.9% |
| Credit institutions | 430/8 | €20,197 | €22,401 | +€2,203 | +10.9% |
| Trade debts | 44 | €9,132 | €16,691 | +€7,559 | +82.8% |
| Suppliers | 440/4 | €9,132 | €16,691 | +€7,559 | +82.8% |
| Taxes, remuneration and social security | 45 | €1,935 | €4,473 | +€2,538 | +131.2% |
| Taxes | 450/3 | €1,935 | €4,353 | +€2,418 | +125.0% |
| Remuneration and social security | 454/9 | - | €120 | +€120 | |
| Other amounts payable | 47/48 | €30,641 | €114,692 | +€84,051 | +274.3% |
| Accrued charges and deferred income | 492/3 | €174 | €557 | +€384 | +221.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,448 | €18,085 | +€637 | +3.7% |
| Other operating charges | 640/8 | €520 | €604 | +€84 | +16.1% |
| Gross operating margin | 9900 | €64,171 | €59,165 | -€5,007 | -7.8% |
| Operating profit (loss) | 9901 | €46,203 | €40,476 | -€5,727 | -12.4% |
| Financial income | 75/76B | €0 | €9 | +€9 | +8600.0% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +8600.0% |
| Financial charges | 65/66B | €2,053 | €1,439 | -€614 | -29.9% |
| Recurring financial charges | 65 | €2,053 | €1,439 | -€614 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €44,150 | €39,046 | -€5,104 | -11.6% |
| Income taxes | 67/77 | €9,438 | €10,122 | +€684 | +7.2% |
| Profit (loss) for the period | 9904 | €34,712 | €28,924 | -€5,788 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,712 | €28,924 | -€5,788 | -16.7% |
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 9 October 2026 via checked.be.