Dieter Grevendonck: 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.
Dieter Grevendonck
Largest movements
- Cash -€19,481
down €19,481 (-79.3%), from €24,565 to €5,084
mainly Receivables within one year (-€12,528) and Investment in fixed assets (net) (-€9,082)
- Receivables within one year +€12,528
up €12,528 (+313%), from €4,000 to €16,528
of which Trade receivables: +€12,237
- Tangible fixed assets +€5,079
up €5,079 (+244%), from €2,079 to €7,158
of which Furniture and vehicles: +€4,134
- Current portion of long-term debt +€2,909
new in 2025: €2,909
- Other debts -€2,163
down €2,163 (-18.1%), from €11,959 to €9,796
- Tax, wage and social debts -€1,484
down €1,484 (-13.5%), from €11,029 to €9,544
of which Taxes: -€1,484
- Trade debts -€1,382
down €1,382 (-47.4%), from €2,919 to €1,536
- Depreciation +€3,096
up €3,096 (+341%), from €907 to €4,003
- Gross operating margin +€979
up €979 (+20.2%), from €4,850 to €5,829
- Taxes -€395
down €395 (-35.7%), from €1,104 to €709
- Financial charges +€117
up €117 (+29.9%), from €392 to €510
of which Non-recurring financial charges: +€155
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 | €30,982 | €29,107 | -€1,875 | -6.1% |
| Fixed assets | 21/28 | €2,079 | €7,158 | +€5,079 | +244% |
| Tangible fixed assets | 22/27 | €2,079 | €7,158 | +€5,079 | +244% |
| Plant, machinery and equipment | 23 | €155 | €1,341 | +€1,185 | +764% |
| Furniture and vehicles | 24 | €362 | €4,496 | +€4,134 | +1,142% |
| Other tangible fixed assets | 26 | €1,562 | €1,321 | -€240 | -15.4% |
| Current assets | 29/58 | €28,903 | €21,949 | -€6,954 | -24.1% |
| Amounts receivable within one year | 40/41 | €4,000 | €16,528 | +€12,528 | +313% |
| Trade receivables | 40 | €4,000 | €16,237 | +€12,237 | +306% |
| Other amounts receivable | 41 | - | €291 | +€291 | |
| Cash at bank and in hand | 54/58 | €24,565 | €5,084 | -€19,481 | -79.3% |
| Deferred charges and accrued income | 490/1 | €338 | €338 | = | 0.0% |
| Total equity and liabilities | 10/49 | €30,982 | €29,107 | -€1,875 | -6.1% |
| Equity | 10/15 | €5,075 | €5,074 | -€1 | 0.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €5,413 | €5,413 | = | 0.0% |
| Distributable reserves | 133 | €5,413 | €5,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,838 | -€1,839 | -€1 | -0.1% |
| Amounts payable | 17/49 | €25,907 | €24,033 | -€1,874 | -7.2% |
| Amounts payable after more than one year | 17 | - | €247 | +€247 | |
| Financial debts | 170/4 | - | €247 | +€247 | |
| Amounts payable within one year | 42/48 | €25,907 | €23,786 | -€2,121 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,909 | +€2,909 | |
| Trade debts | 44 | €2,919 | €1,536 | -€1,382 | -47.4% |
| Suppliers | 440/4 | €2,919 | €1,536 | -€1,382 | -47.4% |
| Taxes, remuneration and social security | 45 | €11,029 | €9,544 | -€1,484 | -13.5% |
| Taxes | 450/3 | €9,029 | €7,544 | -€1,484 | -16.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €11,959 | €9,796 | -€2,163 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €907 | €4,003 | +€3,096 | +341% |
| Other operating charges | 640/8 | €651 | €612 | -€39 | -5.9% |
| Gross operating margin | 9900 | €4,850 | €5,829 | +€979 | +20.2% |
| Operating profit (loss) | 9901 | €3,292 | €1,214 | -€2,079 | -63.1% |
| Financial income | 75/76B | €1 | €5 | +€3 | +312% |
| Recurring financial income | 75 | €1 | €5 | +€3 | +312% |
| Financial charges | 65/66B | €392 | €510 | +€117 | +29.9% |
| Recurring financial charges | 65 | €392 | €355 | -€38 | -9.6% |
| Non-recurring financial charges | 66B | - | €155 | +€155 | |
| Profit (loss) for the period before taxes | 9903 | €2,901 | €708 | -€2,193 | -75.6% |
| Income taxes | 67/77 | €1,104 | €709 | -€395 | -35.7% |
| Profit (loss) for the period | 9904 | €1,797 | -€1 | -€1,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,797 | -€1 | -€1,798 |
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 28 October 2026 via checked.be.