EDOUARD VAN GREMBERGEN: 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.
EDOUARD VAN GREMBERGEN
Largest movements
- Cash +€243,448
up €243,448 (+1,996%), from €12,199 to €255,647
mainly Net result for the year (+€341,794) and Advances received (+€330,000)
- Receivables within one year +€113,821
up €113,821 (+26.3%), from €433,444 to €547,266
of which Trade receivables: +€186,509
- Reserves +€411,027
new in 2025: €411,027
- Profit (loss) carried forward -€369,233
down €369,233 (-100%), from €369,233 to €0
- Advances received +€330,000
up €330,000 (+367%), from €90,000 to €420,000
- Other debts +€127,108
up €127,108 (+1,236%), from €10,281 to €137,389
- Debts after one year -€107,266
down €107,266 (-32.4%), from €331,175 to €223,909
- Gross operating margin +€221,951
up €221,951 (+78.2%), from €283,789 to €505,740
- Taxes +€60,102
up €60,102 (+80.7%), from €74,444 to €134,547
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 | €1,092,721 | €1,448,042 | +€355,321 | +32.5% |
| Fixed assets | 21/28 | €646,787 | €645,129 | -€1,657 | -0.3% |
| Tangible fixed assets | 22/27 | €46,234 | €44,577 | -€1,657 | -3.6% |
| Furniture and vehicles | 24 | €5,425 | €2,619 | -€2,806 | -51.7% |
| Other tangible fixed assets | 26 | €40,809 | €41,958 | +€1,149 | +2.8% |
| Financial fixed assets | 28 | €600,553 | €600,553 | = | 0.0% |
| Current assets | 29/58 | €445,935 | €802,913 | +€356,978 | +80.1% |
| Amounts receivable within one year | 40/41 | €433,444 | €547,266 | +€113,821 | +26.3% |
| Trade receivables | 40 | €360,756 | €547,266 | +€186,509 | +51.7% |
| Other amounts receivable | 41 | €72,688 | €0 | -€72,688 | -100% |
| Cash at bank and in hand | 54/58 | €12,199 | €255,647 | +€243,448 | +1,996% |
| Deferred charges and accrued income | 490/1 | €291 | €0 | -€291 | -100% |
| Total equity and liabilities | 10/49 | €1,092,721 | €1,448,042 | +€355,321 | +32.5% |
| Equity | 10/15 | €370,733 | €412,527 | +€41,794 | +11.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €411,027 | +€411,027 | |
| Distributable reserves | 133 | - | €411,027 | +€411,027 | |
| Profit (loss) carried forward | 14 | €369,233 | €0 | -€369,233 | -100% |
| Amounts payable | 17/49 | €721,989 | €1,035,515 | +€313,527 | +43.4% |
| Amounts payable after more than one year | 17 | €331,175 | €223,909 | -€107,266 | -32.4% |
| Financial debts | 170/4 | €331,175 | €223,909 | -€107,266 | -32.4% |
| Amounts payable within one year | 42/48 | €390,814 | €811,606 | +€420,792 | +108% |
| Current portion of amounts payable after more than one year | 42 | €171,887 | €73,937 | -€97,951 | -57.0% |
| Financial debts | 43 | €2,055 | €1,762 | -€293 | -14.3% |
| Credit institutions | 430/8 | €2,055 | €1,762 | -€293 | -14.3% |
| Trade debts | 44 | €37,532 | €20,508 | -€17,024 | -45.4% |
| Suppliers | 440/4 | €37,532 | €20,508 | -€17,024 | -45.4% |
| Advances received on contracts in progress | 46 | €90,000 | €420,000 | +€330,000 | +367% |
| Taxes, remuneration and social security | 45 | €79,059 | €158,011 | +€78,952 | +99.9% |
| Taxes | 450/3 | €79,059 | €158,011 | +€78,952 | +99.9% |
| Other amounts payable | 47/48 | €10,281 | €137,389 | +€127,108 | +1,236% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,116 | €14,307 | -€3,808 | -21.0% |
| Other operating charges | 640/8 | €2,244 | €6,688 | +€4,444 | +198% |
| Gross operating margin | 9900 | €283,789 | €505,740 | +€221,951 | +78.2% |
| Operating profit (loss) | 9901 | €263,430 | €484,745 | +€221,315 | +84.0% |
| Financial income | 75/76B | €4,274 | €6,968 | +€2,694 | +63.0% |
| Recurring financial income | 75 | €4,274 | €6,968 | +€2,694 | +63.0% |
| Financial charges | 65/66B | €13,616 | €15,372 | +€1,756 | +12.9% |
| Recurring financial charges | 65 | €13,616 | €15,372 | +€1,756 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €254,088 | €476,341 | +€222,253 | +87.5% |
| Income taxes | 67/77 | €74,444 | €134,547 | +€60,102 | +80.7% |
| Profit (loss) for the period | 9904 | €179,644 | €341,794 | +€162,150 | +90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €179,644 | €341,794 | +€162,150 | +90.3% |
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 26 October 2026 via checked.be.