GVU Secuur: 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.
GVU Secuur
Largest movements
- Receivables within one year +€23,826
up €23,826 (+79.2%), from €30,072 to €53,898
of which Trade receivables: +€15,850
- Cash -€14,446
down €14,446 (-75.8%), from €19,061 to €4,615
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€23,826)
- Tangible fixed assets -€5,569
down €5,569 (-23.3%), from €23,868 to €18,299
- Other debts +€43,327
up €43,327 (+649%), from €6,673 to €50,000
- Reserves -€40,879
down €40,879 (-90.3%), from €45,255 to €4,376
- Tax, wage and social debts +€4,135
new in 2025: €4,135
- Trade debts -€2,951
down €2,951 (-76.6%), from €3,852 to €901
- Gross operating margin +€4,537
up €4,537 (+25.5%), from €17,788 to €22,325
- Financial charges +€3,447
up €3,447 (+652%), from €529 to €3,976
- Depreciation +€2,143
up €2,143 (+62.6%), from €3,426 to €5,569
- Financial income +€534
up €534 (+659%), from €81 to €616
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 | €74,380 | €78,012 | +€3,633 | +4.9% |
| Fixed assets | 21/28 | €23,868 | €18,299 | -€5,569 | -23.3% |
| Tangible fixed assets | 22/27 | €23,868 | €18,299 | -€5,569 | -23.3% |
| Plant, machinery and equipment | 23 | €2,221 | €1,296 | -€925 | -41.6% |
| Furniture and vehicles | 24 | €10,258 | €7,724 | -€2,534 | -24.7% |
| Other tangible fixed assets | 26 | €11,389 | €9,278 | -€2,110 | -18.5% |
| Current assets | 29/58 | €50,512 | €59,713 | +€9,202 | +18.2% |
| Amounts receivable within one year | 40/41 | €30,072 | €53,898 | +€23,826 | +79.2% |
| Trade receivables | 40 | €20,766 | €36,616 | +€15,850 | +76.3% |
| Other amounts receivable | 41 | €9,306 | €17,283 | +€7,977 | +85.7% |
| Cash at bank and in hand | 54/58 | €19,061 | €4,615 | -€14,446 | -75.8% |
| Deferred charges and accrued income | 490/1 | €1,379 | €1,200 | -€179 | -13.0% |
| Total equity and liabilities | 10/49 | €74,380 | €78,012 | +€3,633 | +4.9% |
| Equity | 10/15 | €63,855 | €22,976 | -€40,879 | -64.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,255 | €4,376 | -€40,879 | -90.3% |
| Distributable reserves | 133 | €45,255 | €4,376 | -€40,879 | -90.3% |
| Amounts payable | 17/49 | €10,524 | €55,036 | +€44,512 | +423% |
| Amounts payable within one year | 42/48 | €10,524 | €55,036 | +€44,512 | +423% |
| Trade debts | 44 | €3,852 | €901 | -€2,951 | -76.6% |
| Suppliers | 440/4 | €3,852 | €901 | -€2,951 | -76.6% |
| Taxes, remuneration and social security | 45 | - | €4,135 | +€4,135 | |
| Taxes | 450/3 | - | €4,135 | +€4,135 | |
| Other amounts payable | 47/48 | €6,673 | €50,000 | +€43,327 | +649% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,426 | €5,569 | +€2,143 | +62.6% |
| Other operating charges | 640/8 | €770 | €565 | -€205 | -26.7% |
| Gross operating margin | 9900 | €17,788 | €22,325 | +€4,537 | +25.5% |
| Operating profit (loss) | 9901 | €13,592 | €16,191 | +€2,599 | +19.1% |
| Financial income | 75/76B | €81 | €616 | +€534 | +659% |
| Recurring financial income | 75 | €81 | €616 | +€534 | +659% |
| Financial charges | 65/66B | €529 | €3,976 | +€3,447 | +652% |
| Recurring financial charges | 65 | €529 | €3,976 | +€3,447 | +652% |
| Profit (loss) for the period before taxes | 9903 | €13,144 | €12,830 | -€314 | -2.4% |
| Income taxes | 67/77 | €3,625 | €3,709 | +€84 | +2.3% |
| Profit (loss) for the period | 9904 | €9,518 | €9,121 | -€397 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,518 | €9,121 | -€397 | -4.2% |
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 27 October 2026 via checked.be.