Damien Grooten: 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
Damien Grooten
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€95,264
2024 · €62,206+€33,057
Equity
€536,097
2024 · €444,619+€91,479
Cash
€23,512
2024 · €32,495-€8,983
Balance sheet total
€2.1m
2024 · €2.2m-€73,888
Largest movements
Assets
- Tangible fixed assets -€78,424
down €78,424 (-7.2%), from €1.1m to €1.0m
of which Land and buildings: -€56,524
Equity and liabilities
- Debts after one year -€102,967
down €102,967 (-9.0%), from €1.1m to €1.0m
of which Financial debts: -€84,967
- Reserves +€95,000
up €95,000 (+26.0%), from €365,000 to €460,000
- Other debts -€64,603
down €64,603 (-13.7%), from €471,885 to €407,282
Income statement
- Gross operating margin +€42,361
up €42,361 (+16.6%), from €255,456 to €297,817
- Taxes +€10,534
up €10,534 (+49.9%), from €21,103 to €31,637
- Financial charges -€3,155
down €3,155 (-7.7%), from €40,842 to €37,687
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
€62,206
Gross operating margin
+€42,361
Staff costs
-€2,223
Depreciation
+€379
Other operating charges
-€81
Financial income
+€0
Financial charges
+€3,155
Taxes
-€10,534
Result 2025
€95,264
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
+€96,054
Investment
-€0
Financing
-€105,037
Cash 2024
€32,495
From operations (derived)
+€96,054
Net result for the year
+€95,264
Depreciation
+€78,424
Receivables within one year
-€15,663
Deferred charges and accrued income
+€2,144
Trade debts
+€487
Tax, wage and social debts
+€1
Other debts
-€64,603
Investment (derived)
-€0
Investment in fixed assets (net)
-€0
Financing
-€105,037
Debts after one year
-€102,967
Current portion of long-term debt
+€1,715
Contributions, distributions and other
-€3,785
Cash 2025
€23,512
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,175,915 | €2,102,027 | -€73,888 | -3.4% |
| Fixed assets | 21/28 | €2,132,046 | €2,053,623 | -€78,424 | -3.7% |
| Tangible fixed assets | 22/27 | €1,085,487 | €1,007,064 | -€78,424 | -7.2% |
| Land and buildings | 22 | €1,012,317 | €955,793 | -€56,524 | -5.6% |
| Furniture and vehicles | 24 | €73,170 | €51,270 | -€21,900 | -29.9% |
| Financial fixed assets | 28 | €1,046,559 | €1,046,559 | = | 0.0% |
| Current assets | 29/58 | €43,868 | €48,404 | +€4,536 | +10.3% |
| Amounts receivable within one year | 40/41 | €7,202 | €22,865 | +€15,663 | +217% |
| Trade receivables | 40 | €414 | €15,739 | +€15,326 | +3,705% |
| Other amounts receivable | 41 | €6,788 | €7,125 | +€337 | +5.0% |
| Cash at bank and in hand | 54/58 | €32,495 | €23,512 | -€8,983 | -27.6% |
| Deferred charges and accrued income | 490/1 | €4,171 | €2,027 | -€2,144 | -51.4% |
| Total equity and liabilities | 10/49 | €2,175,915 | €2,102,027 | -€73,888 | -3.4% |
| Equity | 10/15 | €444,619 | €536,097 | +€91,479 | +20.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €365,000 | €460,000 | +€95,000 | +26.0% |
| Distributable reserves | 133 | €365,000 | €460,000 | +€95,000 | +26.0% |
| Profit (loss) carried forward | 14 | €2,369 | €2,632 | +€264 | +11.1% |
| Investment grants | 15 | €58,650 | €54,865 | -€3,785 | -6.5% |
| Amounts payable | 17/49 | €1,731,296 | €1,565,929 | -€165,367 | -9.6% |
| Amounts payable after more than one year | 17 | €1,145,032 | €1,042,064 | -€102,967 | -9.0% |
| Financial debts | 170/4 | €945,532 | €860,564 | -€84,967 | -9.0% |
| Other amounts payable | 178/9 | €199,500 | €181,500 | -€18,000 | -9.0% |
| Amounts payable within one year | 42/48 | €586,264 | €523,865 | -€62,399 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €83,252 | €84,967 | +€1,715 | +2.1% |
| Trade debts | 44 | €3,389 | €3,876 | +€487 | +14.4% |
| Suppliers | 440/4 | €3,389 | €3,876 | +€487 | +14.4% |
| Taxes, remuneration and social security | 45 | €27,739 | €27,740 | +€1 | 0.0% |
| Taxes | 450/3 | €21,345 | €21,035 | -€309 | -1.4% |
| Remuneration and social security | 454/9 | €6,394 | €6,705 | +€311 | +4.9% |
| Other amounts payable | 47/48 | €471,885 | €407,282 | -€64,603 | -13.7% |
| Remuneration, social security and pensions | 62 | €41,714 | €43,937 | +€2,223 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,803 | €78,424 | -€379 | -0.5% |
| Other operating charges | 640/8 | €14,572 | €14,653 | +€81 | +0.6% |
| Gross operating margin | 9900 | €255,456 | €297,817 | +€42,361 | +16.6% |
| Operating profit (loss) | 9901 | €120,367 | €160,803 | +€40,436 | +33.6% |
| Financial income | 75/76B | €3,785 | €3,785 | +€0 | 0.0% |
| Recurring financial income | 75 | €3,785 | €3,785 | +€0 | 0.0% |
| Financial charges | 65/66B | €40,842 | €37,687 | -€3,155 | -7.7% |
| Recurring financial charges | 65 | €40,842 | €37,687 | -€3,155 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €83,309 | €126,901 | +€43,591 | +52.3% |
| Income taxes | 67/77 | €21,103 | €31,637 | +€10,534 | +49.9% |
| Profit (loss) for the period | 9904 | €62,206 | €95,264 | +€33,057 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,206 | €95,264 | +€33,057 | +53.1% |
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 26 October 2026 via checked.be.