DE GRENSHOEVE: 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.
DE GRENSHOEVE
Largest movements
- Tangible fixed assets -€72,344
down €72,344 (-3.7%), from €2.0m to €1.9m
of which Land and buildings: -€49,399
- Cash -€55,572
down €55,572 (-96.3%), from €57,715 to €2,143
mainly Net result for the year (-€129,272) and Investment in fixed assets (net) (-€37,680)
- Profit (loss) carried forward -€129,272
down €129,272 (-132%), from -€97,718 to -€226,990
- Other debts +€35,781
up €35,781 (+12.0%), from €297,280 to €333,062
- Write-downs +€115,000
no longer reported in 2025 (was -€115,000)
- Depreciation -€19,202
down €19,202 (-14.9%), from €129,226 to €110,024
- Gross operating margin -€18,892
down €18,892 (-53.0%), from €35,671 to €16,778
- Staff costs -€15,768
down €15,768 (-49.9%), from €31,607 to €15,839
- Other operating charges +€1,486
up €1,486 (+52.0%), from €2,860 to €4,347
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 | €2,498,493 | €2,396,982 | -€101,511 | -4.1% |
| Fixed assets | 21/28 | €1,970,981 | €1,898,637 | -€72,344 | -3.7% |
| Tangible fixed assets | 22/27 | €1,970,801 | €1,898,457 | -€72,344 | -3.7% |
| Land and buildings | 22 | €1,817,177 | €1,767,778 | -€49,399 | -2.7% |
| Plant, machinery and equipment | 23 | €137,579 | €128,065 | -€9,514 | -6.9% |
| Furniture and vehicles | 24 | €16,044 | €2,613 | -€13,431 | -83.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €527,513 | €498,345 | -€29,167 | -5.5% |
| Stocks and contracts in progress | 3 | €420,908 | €427,358 | +€6,450 | +1.5% |
| Stocks | 30/36 | €420,908 | €427,358 | +€6,450 | +1.5% |
| Amounts receivable within one year | 40/41 | €47,218 | €63,953 | +€16,735 | +35.4% |
| Trade receivables | 40 | €16,199 | €33,953 | +€17,754 | +110% |
| Other amounts receivable | 41 | €31,019 | €30,000 | -€1,019 | -3.3% |
| Cash at bank and in hand | 54/58 | €57,715 | €2,143 | -€55,572 | -96.3% |
| Deferred charges and accrued income | 490/1 | €1,671 | €4,891 | +€3,220 | +193% |
| Total equity and liabilities | 10/49 | €2,498,493 | €2,396,982 | -€101,511 | -4.1% |
| Equity | 10/15 | €106,509 | -€22,762 | -€129,272 | |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €4,228 | €4,228 | = | 0.0% |
| Distributable reserves | 133 | €4,228 | €4,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,718 | -€226,990 | -€129,272 | -132% |
| Amounts payable | 17/49 | €2,391,984 | €2,419,744 | +€27,760 | +1.2% |
| Amounts payable after more than one year | 17 | €2,060,069 | €2,044,972 | -€15,097 | -0.7% |
| Financial debts | 170/4 | €2,060,069 | €2,044,972 | -€15,097 | -0.7% |
| Amounts payable within one year | 42/48 | €328,353 | €369,861 | +€41,509 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €14,584 | €15,097 | +€513 | +3.5% |
| Trade debts | 44 | €9,227 | €11,212 | +€1,985 | +21.5% |
| Suppliers | 440/4 | €9,227 | €11,212 | +€1,985 | +21.5% |
| Taxes, remuneration and social security | 45 | €7,261 | €10,491 | +€3,230 | +44.5% |
| Taxes | 450/3 | €562 | €3,539 | +€2,977 | +530% |
| Remuneration and social security | 454/9 | €6,699 | €6,952 | +€253 | +3.8% |
| Other amounts payable | 47/48 | €297,280 | €333,062 | +€35,781 | +12.0% |
| Accrued charges and deferred income | 492/3 | €3,563 | €4,911 | +€1,348 | +37.9% |
| Remuneration, social security and pensions | 62 | €31,607 | €15,839 | -€15,768 | -49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,226 | €110,024 | -€19,202 | -14.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€115,000 | - | +€115,000 | |
| Other operating charges | 640/8 | €2,860 | €4,347 | +€1,486 | +52.0% |
| Gross operating margin | 9900 | €35,671 | €16,778 | -€18,892 | -53.0% |
| Operating profit (loss) | 9901 | -€13,022 | -€113,431 | -€100,409 | -771% |
| Financial income | 75/76B | €216 | €317 | +€101 | +46.7% |
| Recurring financial income | 75 | €216 | €317 | +€101 | +46.7% |
| Financial charges | 65/66B | €15,610 | €16,157 | +€548 | +3.5% |
| Recurring financial charges | 65 | €15,610 | €16,157 | +€548 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,416 | -€129,272 | -€100,855 | -355% |
| Profit (loss) for the period | 9904 | -€28,416 | -€129,272 | -€100,855 | -355% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,416 | -€129,272 | -€100,855 | -355% |
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 18 October 2026 via checked.be.