El Greco: what changed
Two fiscal 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.
El Greco
Largest movements
- Tangible fixed assets -€17,971
down €17,971 (-9.4%), from €190,925 to €172,954
of which Land and buildings: -€9,872
- Cash -€11,527
down €11,527 (-45.4%), from €25,401 to €13,874
mainly Net result for the year (-€23,924) and Tax, wage and social debts (-€8,234)
- Receivables within one year +€3,659
up €3,659 (+115.3%), from €3,174 to €6,832
of which Trade receivables: +€2,232
- Profit (loss) carried forward -€23,924
down €23,924 (-28.4%), from €84,260 to €60,336
- Tax, wage and social debts -€8,234
down €8,234 (-83.5%), from €9,861 to €1,627
of which Taxes: -€8,385
- Current portion of long-term debt +€6,100
up €6,100 (+21.4%), from €28,466 to €34,566
- Gross operating margin -€37,745
down €37,745 (-64.7%), from €58,322 to €20,577
- Staff costs +€9,714
up €9,714 (+125.5%), from €7,742 to €17,456
- Taxes -€6,396
down €6,396 (-99.3%), from €6,440 to €45
- Financial charges -€1,341
down €1,341 (-25.0%), from €5,368 to €4,027
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.
Cash bridge derived
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 | €224,721 | €199,096 | -€25,626 | -11.4% |
| Fixed assets | 21/28 | €190,925 | €172,954 | -€17,971 | -9.4% |
| Tangible fixed assets | 22/27 | €190,925 | €172,954 | -€17,971 | -9.4% |
| Land and buildings | 22 | €169,253 | €159,381 | -€9,872 | -5.8% |
| Plant, machinery and equipment | 23 | €332 | - | -€332 | |
| Furniture and vehicles | 24 | €21,339 | €13,573 | -€7,766 | -36.4% |
| Current assets | 29/58 | €33,797 | €26,142 | -€7,655 | -22.6% |
| Amounts receivable within one year | 40/41 | €3,174 | €6,832 | +€3,659 | +115.3% |
| Trade receivables | 40 | €1,661 | €3,893 | +€2,232 | +134.4% |
| Other amounts receivable | 41 | €1,512 | €2,939 | +€1,427 | +94.4% |
| Cash at bank and in hand | 54/58 | €25,401 | €13,874 | -€11,527 | -45.4% |
| Deferred charges and accrued income | 490/1 | €5,222 | €5,435 | +€213 | +4.1% |
| Total equity and liabilities | 10/49 | €224,721 | €199,096 | -€25,626 | -11.4% |
| Equity | 10/15 | €104,720 | €80,796 | -€23,924 | -22.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,260 | €60,336 | -€23,924 | -28.4% |
| Amounts payable | 17/49 | €120,001 | €118,300 | -€1,701 | -1.4% |
| Amounts payable after more than one year | 17 | €74,185 | €73,320 | -€866 | -1.2% |
| Financial debts | 170/4 | €74,185 | €73,320 | -€866 | -1.2% |
| Amounts payable within one year | 42/48 | €45,816 | €44,980 | -€836 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €28,466 | €34,566 | +€6,100 | +21.4% |
| Trade debts | 44 | €7,489 | €8,787 | +€1,298 | +17.3% |
| Suppliers | 440/4 | €7,489 | €8,787 | +€1,298 | +17.3% |
| Taxes, remuneration and social security | 45 | €9,861 | €1,627 | -€8,234 | -83.5% |
| Taxes | 450/3 | €8,429 | €45 | -€8,385 | -99.5% |
| Remuneration and social security | 454/9 | €1,432 | €1,583 | +€151 | +10.5% |
| Remuneration, social security and pensions | 62 | €7,742 | €17,456 | +€9,714 | +125.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,971 | €17,971 | -€0 | 0.0% |
| Other operating charges | 640/8 | €4,739 | €5,010 | +€271 | +5.7% |
| Gross operating margin | 9900 | €58,322 | €20,577 | -€37,745 | -64.7% |
| Operating profit (loss) | 9901 | €27,871 | -€19,859 | -€47,731 | |
| Financial income | 75/76B | €0 | €7 | +€6 | +5366.7% |
| Recurring financial income | 75 | €0 | €7 | +€6 | +5366.7% |
| Financial charges | 65/66B | €5,368 | €4,027 | -€1,341 | -25.0% |
| Recurring financial charges | 65 | €5,368 | €4,027 | -€1,341 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €22,503 | -€23,880 | -€46,383 | |
| Income taxes | 67/77 | €6,440 | €45 | -€6,396 | -99.3% |
| Profit (loss) for the period | 9904 | €16,063 | -€23,924 | -€39,987 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,063 | -€23,924 | -€39,987 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.