GVWcare: 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.
GVWcare
Largest movements
- Current investments -€175,000
down €175,000 (-100%), from €175,000 to €0
- Cash +€159,945
up €159,945 (+156%), from €102,738 to €262,683
mainly Current investments (+€175,000) and Net result for the year (+€24,790)
- Receivables within one year +€19,955
up €19,955 (+178%), from €11,181 to €31,136
- Tangible fixed assets +€3,695
up €3,695 (+75.3%), from €4,907 to €8,602
of which Furniture and vehicles: +€3,358
- Reserves +€4,764
up €4,764 (+1.6%), from €288,886 to €293,649
- Gross operating margin -€5,779
down €5,779 (-13.8%), from €41,752 to €35,973
- Taxes -€3,945
down €3,945 (-31.3%), from €12,605 to €8,659
- Financial income +€1,188
up €1,188 (+26.8%), from €4,439 to €5,627
- Depreciation +€785
up €785 (+46.4%), from €1,692 to €2,477
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €310,016 | €316,170 | +€6,155 | +2.0% |
| Fixed assets | 21/28 | €4,907 | €8,602 | +€3,695 | +75.3% |
| Tangible fixed assets | 22/27 | €4,907 | €8,602 | +€3,695 | +75.3% |
| Plant, machinery and equipment | 23 | €13 | €869 | +€856 | +6,761% |
| Furniture and vehicles | 24 | €3,679 | €7,037 | +€3,358 | +91.3% |
| Other tangible fixed assets | 26 | €1,215 | €696 | -€519 | -42.7% |
| Current assets | 29/58 | €305,109 | €307,568 | +€2,459 | +0.8% |
| Amounts receivable within one year | 40/41 | €11,181 | €31,136 | +€19,955 | +178% |
| Other amounts receivable | 41 | €11,181 | €31,136 | +€19,955 | +178% |
| Current investments | 50/53 | €175,000 | €0 | -€175,000 | -100% |
| Cash at bank and in hand | 54/58 | €102,738 | €262,683 | +€159,945 | +156% |
| Deferred charges and accrued income | 490/1 | €16,190 | €13,749 | -€2,441 | -15.1% |
| Total equity and liabilities | 10/49 | €310,016 | €316,170 | +€6,155 | +2.0% |
| Equity | 10/15 | €301,286 | €306,049 | +€4,764 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €288,886 | €293,649 | +€4,764 | +1.6% |
| Distributable reserves | 133 | €288,886 | €293,649 | +€4,764 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,730 | €10,121 | +€1,391 | +15.9% |
| Amounts payable within one year | 42/48 | €8,730 | €10,041 | +€1,311 | +15.0% |
| Trade debts | 44 | €5,627 | €4,846 | -€782 | -13.9% |
| Suppliers | 440/4 | €5,627 | €4,846 | -€782 | -13.9% |
| Taxes, remuneration and social security | 45 | €3,103 | €5,195 | +€2,092 | +67.4% |
| Taxes | 450/3 | €3,103 | €5,195 | +€2,092 | +67.4% |
| Accrued charges and deferred income | 492/3 | - | €80 | +€80 | |
| Non-recurring operating income | 76A | €10,819 | €0 | -€10,819 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,692 | €2,477 | +€785 | +46.4% |
| Other operating charges | 640/8 | €579 | €580 | +€1 | +0.2% |
| Non-recurring operating charges | 66A | - | €4,861 | +€4,861 | |
| Gross operating margin | 9900 | €41,752 | €35,973 | -€5,779 | -13.8% |
| Operating profit (loss) | 9901 | €39,481 | €28,055 | -€11,426 | -28.9% |
| Financial income | 75/76B | €4,439 | €5,627 | +€1,188 | +26.8% |
| Recurring financial income | 75 | €4,439 | €5,627 | +€1,188 | +26.8% |
| Financial charges | 65/66B | €288 | €233 | -€55 | -19.3% |
| Recurring financial charges | 65 | €288 | €233 | -€55 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €43,632 | €33,449 | -€10,183 | -23.3% |
| Income taxes | 67/77 | €12,605 | €8,659 | -€3,945 | -31.3% |
| Profit (loss) for the period | 9904 | €31,028 | €24,790 | -€6,238 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,028 | €24,790 | -€6,238 | -20.1% |
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.