De Groef Growth: 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 Groef Growth
Largest movements
- Receivables after one year -€81,943
down €81,943 (-33.3%), from €245,829 to €163,886
- Receivables within one year +€18,343
up €18,343 (+132%), from €13,879 to €32,222
of which Other amounts receivable: +€21,843
- Cash -€7,671
down €7,671 (-78.7%), from €9,744 to €2,073
mainly Debts after one year (-€43,524) and Other debts (-€18,638)
- Debts after one year -€43,524
down €43,524 (-10.5%), from €414,580 to €371,055
- Other debts -€18,638
down €18,638 (-100%), from €18,638 to €0
- Tax, wage and social debts -€6,076
down €6,076 (-68.6%), from €8,857 to €2,781
of which Taxes: -€8,681
- Gross operating margin +€27,135
up €27,135 (+31.9%), from €85,165 to €112,300
- Staff costs +€10,305
new in 2025: €10,305
- Financial charges +€8,981
up €8,981 (+91.0%), from €9,868 to €18,849
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 | €503,097 | €431,561 | -€71,535 | -14.2% |
| Fixed assets | 21/28 | €233,644 | €233,380 | -€264 | -0.1% |
| Tangible fixed assets | 22/27 | €1,170 | €906 | -€264 | -22.6% |
| Furniture and vehicles | 24 | €1,170 | €906 | -€264 | -22.6% |
| Financial fixed assets | 28 | €232,474 | €232,474 | = | 0.0% |
| Current assets | 29/58 | €269,452 | €198,181 | -€71,271 | -26.5% |
| Amounts receivable after more than one year | 29 | €245,829 | €163,886 | -€81,943 | -33.3% |
| Other amounts receivable | 291 | €245,829 | €163,886 | -€81,943 | -33.3% |
| Amounts receivable within one year | 40/41 | €13,879 | €32,222 | +€18,343 | +132% |
| Trade receivables | 40 | €3,500 | €0 | -€3,500 | -100% |
| Other amounts receivable | 41 | €10,379 | €32,222 | +€21,843 | +210% |
| Cash at bank and in hand | 54/58 | €9,744 | €2,073 | -€7,671 | -78.7% |
| Total equity and liabilities | 10/49 | €503,097 | €431,561 | -€71,535 | -14.2% |
| Equity | 10/15 | €17,082 | €17,397 | +€315 | +1.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,582 | €14,897 | +€315 | +2.2% |
| Amounts payable | 17/49 | €486,015 | €414,164 | -€71,850 | -14.8% |
| Amounts payable after more than one year | 17 | €414,580 | €371,055 | -€43,524 | -10.5% |
| Financial debts | 170/4 | €414,580 | €371,055 | -€43,524 | -10.5% |
| Amounts payable within one year | 42/48 | €70,271 | €43,046 | -€27,225 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €24,326 | €24,605 | +€279 | +1.1% |
| Trade debts | 44 | €18,449 | €15,660 | -€2,790 | -15.1% |
| Suppliers | 440/4 | €18,449 | €15,660 | -€2,790 | -15.1% |
| Taxes, remuneration and social security | 45 | €8,857 | €2,781 | -€6,076 | -68.6% |
| Taxes | 450/3 | €8,857 | €176 | -€8,681 | -98.0% |
| Remuneration and social security | 454/9 | - | €2,605 | +€2,605 | |
| Other amounts payable | 47/48 | €18,638 | €0 | -€18,638 | -100% |
| Accrued charges and deferred income | 492/3 | €1,165 | €64 | -€1,101 | -94.5% |
| Remuneration, social security and pensions | 62 | - | €10,305 | +€10,305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152 | €264 | +€112 | +74.0% |
| Other operating charges | 640/8 | €82,239 | €82,390 | +€151 | +0.2% |
| Gross operating margin | 9900 | €85,165 | €112,300 | +€27,135 | +31.9% |
| Operating profit (loss) | 9901 | €2,774 | €19,341 | +€16,566 | +597% |
| Financial income | 75/76B | €0 | €0 | -€0 | -92.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -92.1% |
| Financial charges | 65/66B | €9,868 | €18,849 | +€8,981 | +91.0% |
| Recurring financial charges | 65 | €9,868 | €18,849 | +€8,981 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,093 | €491 | +€7,585 | |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€7,268 | €315 | +€7,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,268 | €315 | +€7,583 |
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 25 October 2026 via checked.be.