De Grenspost: 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 Grenspost
Largest movements
- Tangible fixed assets +€75,599
up €75,599 (+238%), from €31,731 to €107,329
of which Plant, machinery and equipment: +€61,877
- Cash +€18,656
up €18,656 (+22.5%), from €82,945 to €101,600
mainly Debts after one year (+€61,167) and Current portion of long-term debt (+€21,731)
- Receivables within one year +€5,137
up €5,137 (+4,225%), from €122 to €5,259
of which Other amounts receivable: +€5,137
- Debts after one year +€61,167
new in 2025: €61,167
- Current portion of long-term debt +€21,731
new in 2025: €21,731
- Reserves +€19,918
up €19,918 (+22.2%), from €89,911 to €109,829
- Other debts -€3,305
down €3,305 (-24.8%), from €13,321 to €10,016
- Gross operating margin -€9,141
down €9,141 (-16.3%), from €56,102 to €46,961
- Depreciation +€8,756
up €8,756 (+89.6%), from €9,773 to €18,529
- Taxes -€6,808
down €6,808 (-49.7%), from €13,696 to €6,887
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 | €115,329 | €215,338 | +€100,009 | +86.7% |
| Fixed assets | 21/28 | €31,731 | €107,329 | +€75,599 | +238% |
| Tangible fixed assets | 22/27 | €31,731 | €107,329 | +€75,599 | +238% |
| Plant, machinery and equipment | 23 | €19,989 | €81,866 | +€61,877 | +310% |
| Furniture and vehicles | 24 | €9,205 | €6,048 | -€3,157 | -34.3% |
| Leasing and similar rights | 25 | €2,537 | €19,415 | +€16,878 | +665% |
| Current assets | 29/58 | €83,598 | €108,009 | +€24,411 | +29.2% |
| Stocks and contracts in progress | 3 | €532 | €575 | +€43 | +8.1% |
| Stocks | 30/36 | €532 | €575 | +€43 | +8.1% |
| Amounts receivable within one year | 40/41 | €122 | €5,259 | +€5,137 | +4,225% |
| Trade receivables | 40 | €113 | €114 | +€1 | +0.5% |
| Other amounts receivable | 41 | €8 | €5,145 | +€5,137 | +62,640% |
| Cash at bank and in hand | 54/58 | €82,945 | €101,600 | +€18,656 | +22.5% |
| Deferred charges and accrued income | 490/1 | €0 | €575 | +€575 | |
| Total equity and liabilities | 10/49 | €115,329 | €215,338 | +€100,009 | +86.7% |
| Equity | 10/15 | €92,911 | €112,829 | +€19,918 | +21.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €89,911 | €109,829 | +€19,918 | +22.2% |
| Distributable reserves | 133 | €89,911 | €109,829 | +€19,918 | +22.2% |
| Amounts payable | 17/49 | €22,418 | €102,509 | +€80,091 | +357% |
| Amounts payable after more than one year | 17 | - | €61,167 | +€61,167 | |
| Financial debts | 170/4 | - | €61,167 | +€61,167 | |
| Amounts payable within one year | 42/48 | €22,418 | €41,251 | +€18,833 | +84.0% |
| Current portion of amounts payable after more than one year | 42 | - | €21,731 | +€21,731 | |
| Trade debts | 44 | €1,593 | €425 | -€1,168 | -73.3% |
| Suppliers | 440/4 | €1,593 | €425 | -€1,168 | -73.3% |
| Taxes, remuneration and social security | 45 | €7,504 | €9,079 | +€1,575 | +21.0% |
| Taxes | 450/3 | €7,504 | €9,079 | +€1,575 | +21.0% |
| Other amounts payable | 47/48 | €13,321 | €10,016 | -€3,305 | -24.8% |
| Accrued charges and deferred income | 492/3 | - | €91 | +€91 | |
| Remuneration, social security and pensions | 62 | €76 | €0 | -€76 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,773 | €18,529 | +€8,756 | +89.6% |
| Other operating charges | 640/8 | €790 | €839 | +€49 | +6.2% |
| Gross operating margin | 9900 | €56,102 | €46,961 | -€9,141 | -16.3% |
| Operating profit (loss) | 9901 | €45,463 | €27,593 | -€17,870 | -39.3% |
| Financial income | 75/76B | €1 | €255 | +€254 | +21,186% |
| Recurring financial income | 75 | €1 | €255 | +€254 | +21,186% |
| Financial charges | 65/66B | €1,399 | €1,043 | -€356 | -25.4% |
| Recurring financial charges | 65 | €1,399 | €1,043 | -€356 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €44,066 | €26,806 | -€17,260 | -39.2% |
| Income taxes | 67/77 | €13,696 | €6,887 | -€6,808 | -49.7% |
| Profit (loss) for the period | 9904 | €30,370 | €19,918 | -€10,452 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,370 | €19,918 | -€10,452 | -34.4% |
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 14 October 2026 via checked.be.