BM GROTIUS 2: 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.
BM GROTIUS 2
Largest movements
- Cash -€174,091
down €174,091 (-85.9%), from €202,743 to €28,652
mainly Investment in fixed assets (net) (-€130,939) and Other debts (-€86,028)
- Tangible fixed assets +€81,986
up €81,986 (+4.5%), from €1.8m to €1.9m
- Other debts -€86,028
down €86,028 (-83.6%), from €102,904 to €16,876
- Gross operating margin +€9,798
up €9,798 (+21.0%), from €46,759 to €56,557
- Depreciation +€8,530
up €8,530 (+21.1%), from €40,424 to €48,953
- Financial income -€672
down €672 (-100%), from €672 to €0
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 | €2,009,927 | €1,920,412 | -€89,515 | -4.5% |
| Fixed assets | 21/28 | €1,803,871 | €1,885,857 | +€81,986 | +4.5% |
| Tangible fixed assets | 22/27 | €1,803,871 | €1,885,857 | +€81,986 | +4.5% |
| Land and buildings | 22 | €1,803,871 | €1,885,857 | +€81,986 | +4.5% |
| Current assets | 29/58 | €206,056 | €34,555 | -€171,501 | -83.2% |
| Amounts receivable within one year | 40/41 | €977 | €4,187 | +€3,211 | +329% |
| Other amounts receivable | 41 | €977 | €4,187 | +€3,211 | +329% |
| Cash at bank and in hand | 54/58 | €202,743 | €28,652 | -€174,091 | -85.9% |
| Deferred charges and accrued income | 490/1 | €2,336 | €1,715 | -€621 | -26.6% |
| Total equity and liabilities | 10/49 | €2,009,927 | €1,920,412 | -€89,515 | -4.5% |
| Equity | 10/15 | €1,898,536 | €1,899,356 | +€820 | 0.0% |
| Contributions | 10/11 | €1,419,352 | €1,419,352 | = | 0.0% |
| Reserves | 13 | €479,184 | €480,004 | +€820 | +0.2% |
| Distributable reserves | 133 | €479,184 | €480,004 | +€820 | +0.2% |
| Amounts payable | 17/49 | €111,391 | €21,056 | -€90,335 | -81.1% |
| Amounts payable within one year | 42/48 | €111,322 | €19,781 | -€91,541 | -82.2% |
| Trade debts | 44 | €8,418 | €2,494 | -€5,924 | -70.4% |
| Suppliers | 440/4 | €8,418 | €2,494 | -€5,924 | -70.4% |
| Taxes, remuneration and social security | 45 | - | €410 | +€410 | |
| Taxes | 450/3 | - | €410 | +€410 | |
| Other amounts payable | 47/48 | €102,904 | €16,876 | -€86,028 | -83.6% |
| Accrued charges and deferred income | 492/3 | €69 | €1,275 | +€1,206 | +1,756% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,424 | €48,953 | +€8,530 | +21.1% |
| Other operating charges | 640/8 | €5,974 | €6,223 | +€249 | +4.2% |
| Gross operating margin | 9900 | €46,759 | €56,557 | +€9,798 | +21.0% |
| Operating profit (loss) | 9901 | €361 | €1,381 | +€1,019 | +282% |
| Financial income | 75/76B | €672 | €0 | -€672 | -100% |
| Recurring financial income | 75 | €672 | €0 | -€672 | -100% |
| Financial charges | 65/66B | €63 | €150 | +€88 | +140% |
| Recurring financial charges | 65 | €63 | €150 | +€88 | +140% |
| Profit (loss) for the period before taxes | 9903 | €971 | €1,231 | +€260 | +26.8% |
| Income taxes | 67/77 | €109 | €410 | +€302 | +278% |
| Profit (loss) for the period | 9904 | €862 | €820 | -€42 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €862 | €820 | -€42 | -4.9% |
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 22 October 2026 via checked.be.