Dr. Grinberg Gregory: 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.
Dr. Grinberg Gregory
Largest movements
- Intangible fixed assets -€27,500
down €27,500 (-12.5%), from €220,000 to €192,500
- Cash -€8,181
down €8,181 (-19.3%), from €42,464 to €34,282
mainly Other debts (-€129,100) and Investment in fixed assets (net) (-€2,000)
- Other debts -€129,100
down €129,100 (-52.3%), from €246,898 to €117,797
- Debts after one year +€64,692
new in 2025: €64,692
- Current portion of long-term debt +€14,818
new in 2025: €14,818
- Profit (loss) carried forward +€11,017
up €11,017 (+114%), from €9,636 to €20,653
- Tax, wage and social debts +€3,992
up €3,992 (+134%), from €2,981 to €6,973
- Gross operating margin +€8,640
up €8,640 (+20.4%), from €42,313 to €50,953
- Financial charges +€2,813
up €2,813 (+132%), from €2,137 to €4,950
- Taxes +€1,012
up €1,012 (+33.9%), from €2,981 to €3,992
- Other operating charges +€574
up €574 (+35.9%), from €1,599 to €2,173
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 | €269,514 | €235,051 | -€34,463 | -12.8% |
| Fixed assets | 21/28 | €222,783 | €195,962 | -€26,821 | -12.0% |
| Intangible fixed assets | 21 | €220,000 | €192,500 | -€27,500 | -12.5% |
| Tangible fixed assets | 22/27 | €2,783 | €3,462 | +€679 | +24.4% |
| Plant, machinery and equipment | 23 | €787 | €563 | -€224 | -28.4% |
| Furniture and vehicles | 24 | €1,996 | €2,898 | +€903 | +45.2% |
| Current assets | 29/58 | €46,731 | €39,089 | -€7,642 | -16.4% |
| Cash at bank and in hand | 54/58 | €42,464 | €34,282 | -€8,181 | -19.3% |
| Deferred charges and accrued income | 490/1 | €4,267 | €4,807 | +€540 | +12.6% |
| Total equity and liabilities | 10/49 | €269,514 | €235,051 | -€34,463 | -12.8% |
| Equity | 10/15 | €19,636 | €30,653 | +€11,017 | +56.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,636 | €20,653 | +€11,017 | +114% |
| Amounts payable | 17/49 | €249,878 | €204,398 | -€45,480 | -18.2% |
| Amounts payable after more than one year | 17 | - | €64,692 | +€64,692 | |
| Financial debts | 170/4 | - | €64,692 | +€64,692 | |
| Amounts payable within one year | 42/48 | €249,878 | €139,707 | -€110,171 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | - | €14,818 | +€14,818 | |
| Trade debts | 44 | €0 | €119 | +€119 | |
| Suppliers | 440/4 | €0 | €119 | +€119 | |
| Taxes, remuneration and social security | 45 | €2,981 | €6,973 | +€3,992 | +134% |
| Taxes | 450/3 | €2,981 | €6,973 | +€3,992 | +134% |
| Other amounts payable | 47/48 | €246,898 | €117,797 | -€129,100 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,335 | €28,821 | +€486 | +1.7% |
| Other operating charges | 640/8 | €1,599 | €2,173 | +€574 | +35.9% |
| Gross operating margin | 9900 | €42,313 | €50,953 | +€8,640 | +20.4% |
| Operating profit (loss) | 9901 | €12,379 | €19,959 | +€7,580 | +61.2% |
| Financial income | 75/76B | €1 | €1 | -€0 | -24.2% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -24.2% |
| Financial charges | 65/66B | €2,137 | €4,950 | +€2,813 | +132% |
| Recurring financial charges | 65 | €2,137 | €4,950 | +€2,813 | +132% |
| Profit (loss) for the period before taxes | 9903 | €10,243 | €15,009 | +€4,766 | +46.5% |
| Income taxes | 67/77 | €2,981 | €3,992 | +€1,012 | +33.9% |
| Profit (loss) for the period | 9904 | €7,262 | €11,017 | +€3,754 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,262 | €11,017 | +€3,754 | +51.7% |
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 23 October 2026 via checked.be.