BGROUP GREISCH: 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.
What changed
BGROUP GREISCH
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€238,377
2024 · €259,637-€21,260
Equity
€642,711
2024 · €540,495+€102,216
Cash
€7,416
2024 · €7,416
Balance sheet total
€4.7m
2024 · €3.9m+€792,078
Largest movements
Assets
- Stocks and contracts +€1.2m
up €1.2m (+172%), from €710,095 to €1.9m
- Receivables within one year -€581,961
down €581,961 (-19.6%), from €3.0m to €2.4m
of which Trade receivables: -€667,223
- Tangible fixed assets +€118,092
up €118,092 (+63.2%), from €186,847 to €304,940
of which Plant, machinery and equipment: +€135,666
Equity and liabilities
- Other debts +€728,123
up €728,123 (+68.1%), from €1.1m to €1.8m
- Tax, wage and social debts +€137,833
up €137,833 (+43.5%), from €317,199 to €455,032
of which Taxes: +€123,437
- Accrued charges and deferred income -€110,832
down €110,832 (-91.2%), from €121,519 to €10,687
- Profit (loss) carried forward +€102,216
up €102,216 (+26.1%), from €390,887 to €493,103
Income statement
- Gross operating margin +€246,658
up €246,658 (+9.4%), from €2.6m to €2.9m
- Staff costs +€213,652
up €213,652 (+9.8%), from €2.2m to €2.4m
- Financial income -€75,289
down €75,289 (-99.8%), from €75,416 to €127
- Taxes -€68,766
down €68,766 (-40.4%), from €170,004 to €101,238
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.
Result 2024
€259,637
Gross operating margin
+€246,658
Staff costs
-€213,652
Depreciation
+€378
Write-downs
-€22,302
Other operating charges
-€978
Financial income
-€75,289
Financial charges
-€24,842
Taxes
+€68,766
Result 2025
€238,377
raises the resultlowers the result
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.
From operations
+€361,408
Investment
-€201,151
Financing
-€160,257
Cash 2024
€7,416
From operations (derived)
+€361,408
Net result for the year
+€238,377
Depreciation
+€78,276
Stocks and contracts
-€1.2m
Receivables within one year
+€581,961
Deferred charges and accrued income
-€28,708
Trade debts
-€41,165
Tax, wage and social debts
+€137,833
Other debts
+€728,123
Accrued charges and deferred income
-€110,832
Investment (derived)
-€201,151
Investment in fixed assets (net)
-€201,151
Financing
-€160,257
Current portion of long-term debt
-€27,664
Short-term financial debts
+€3,568
Contributions, distributions and other
-€136,160
Cash 2025
€7,416
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,902,197 | €4,694,275 | +€792,078 | +20.3% |
| Fixed assets | 21/28 | €204,971 | €327,847 | +€122,875 | +59.9% |
| Tangible fixed assets | 22/27 | €186,847 | €304,940 | +€118,092 | +63.2% |
| Plant, machinery and equipment | 23 | €107,889 | €243,556 | +€135,666 | +126% |
| Furniture and vehicles | 24 | €76,026 | €60,952 | -€15,074 | -19.8% |
| Leasing and similar rights | 25 | €2,932 | €432 | -€2,500 | -85.3% |
| Financial fixed assets | 28 | €18,124 | €22,907 | +€4,783 | +26.4% |
| Current assets | 29/58 | €3,697,226 | €4,366,429 | +€669,203 | +18.1% |
| Stocks and contracts in progress | 3 | €710,095 | €1,932,551 | +€1.2m | +172% |
| Contracts in progress | 37 | €710,095 | €1,932,551 | +€1.2m | +172% |
| Amounts receivable within one year | 40/41 | €2,969,148 | €2,387,186 | -€581,961 | -19.6% |
| Trade receivables | 40 | €1,940,049 | €1,272,826 | -€667,223 | -34.4% |
| Other amounts receivable | 41 | €1,029,099 | €1,114,361 | +€85,262 | +8.3% |
| Cash at bank and in hand | 54/58 | €7,416 | €7,416 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €10,567 | €39,275 | +€28,708 | +272% |
| Total equity and liabilities | 10/49 | €3,902,197 | €4,694,275 | +€792,078 | +20.3% |
| Equity | 10/15 | €540,495 | €642,711 | +€102,216 | +18.9% |
| Contributions | 10/11 | €133,220 | €133,220 | = | 0.0% |
| Capital | 10 | €133,220 | €133,220 | = | 0.0% |
| Issued capital | 100 | €163,880 | €163,880 | = | 0.0% |
| Uncalled capital | 101 | €30,660 | €30,660 | = | 0.0% |
| Reserves | 13 | €16,388 | €16,388 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,388 | €16,388 | = | 0.0% |
| Legal reserve | 130 | €16,388 | €16,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | €390,887 | €493,103 | +€102,216 | +26.1% |
| Amounts payable | 17/49 | €3,361,702 | €4,051,564 | +€689,862 | +20.5% |
| Amounts payable within one year | 42/48 | €3,240,183 | €4,040,877 | +€800,694 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €27,664 | - | -€27,664 | |
| Financial debts | 43 | €101,895 | €105,462 | +€3,568 | +3.5% |
| Credit institutions | 430/8 | €101,895 | €105,462 | +€3,568 | +3.5% |
| Trade debts | 44 | €1,724,283 | €1,683,118 | -€41,165 | -2.4% |
| Suppliers | 440/4 | €1,724,283 | €1,683,118 | -€41,165 | -2.4% |
| Taxes, remuneration and social security | 45 | €317,199 | €455,032 | +€137,833 | +43.5% |
| Taxes | 450/3 | €40,963 | €164,400 | +€123,437 | +301% |
| Remuneration and social security | 454/9 | €276,236 | €290,632 | +€14,396 | +5.2% |
| Other amounts payable | 47/48 | €1,069,142 | €1,797,265 | +€728,123 | +68.1% |
| Accrued charges and deferred income | 492/3 | €121,519 | €10,687 | -€110,832 | -91.2% |
| Remuneration, social security and pensions | 62 | €2,174,718 | €2,388,370 | +€213,652 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,654 | €78,276 | -€378 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,284 | €21,018 | +€22,302 | |
| Other operating charges | 640/8 | €2,602 | €3,580 | +€978 | +37.6% |
| Gross operating margin | 9900 | €2,630,389 | €2,877,047 | +€246,658 | +9.4% |
| Operating profit (loss) | 9901 | €375,700 | €385,804 | +€10,104 | +2.7% |
| Financial income | 75/76B | €75,416 | €127 | -€75,289 | -99.8% |
| Recurring financial income | 75 | €75,416 | €127 | -€75,289 | -99.8% |
| Financial charges | 65/66B | €21,475 | €46,316 | +€24,842 | +116% |
| Recurring financial charges | 65 | €21,475 | €46,316 | +€24,842 | +116% |
| Profit (loss) for the period before taxes | 9903 | €429,641 | €339,615 | -€90,027 | -21.0% |
| Income taxes | 67/77 | €170,004 | €101,238 | -€68,766 | -40.4% |
| Profit (loss) for the period | 9904 | €259,637 | €238,377 | -€21,260 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €259,637 | €238,377 | -€21,260 | -8.2% |
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 15 October 2026 via checked.be.