Els De Groote: 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.
Els De Groote
Largest movements
- Current investments -€90,000
down €90,000 (-100%), from €90,000 to €0
- Cash +€81,566
up €81,566 (+153%), from €53,379 to €134,944
mainly Current investments (+€90,000) and Net result for the year (+€45,301)
- Receivables within one year +€24,408
up €24,408 (+77.7%), from €31,408 to €55,816
of which Other amounts receivable: +€19,102
- Tangible fixed assets -€20,899
down €20,899 (-9.1%), from €228,665 to €207,766
of which Furniture and vehicles: -€12,630
- Debts after one year -€23,625
down €23,625 (-21.3%), from €110,828 to €87,203
- Reserves +€21,838
up €21,838 (+9.0%), from €242,953 to €264,790
of which Distributable reserves: +€21,838
- Gross operating margin +€9,522
up €9,522 (+11.3%), from €84,447 to €93,969
- Taxes +€3,293
up €3,293 (+22.0%), from €14,974 to €18,267
- Other operating charges -€1,041
down €1,041 (-13.0%), from €8,033 to €6,992
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 | €406,210 | €400,585 | -€5,625 | -1.4% |
| Fixed assets | 21/28 | €228,665 | €207,766 | -€20,899 | -9.1% |
| Tangible fixed assets | 22/27 | €228,665 | €207,766 | -€20,899 | -9.1% |
| Land and buildings | 22 | €175,973 | €168,925 | -€7,048 | -4.0% |
| Plant, machinery and equipment | 23 | €2,392 | €1,578 | -€814 | -34.0% |
| Furniture and vehicles | 24 | €48,670 | €36,040 | -€12,630 | -26.0% |
| Other tangible fixed assets | 26 | €1,629 | €1,223 | -€407 | -25.0% |
| Current assets | 29/58 | €177,545 | €192,819 | +€15,274 | +8.6% |
| Amounts receivable within one year | 40/41 | €31,408 | €55,816 | +€24,408 | +77.7% |
| Trade receivables | 40 | €25,535 | €30,841 | +€5,306 | +20.8% |
| Other amounts receivable | 41 | €5,873 | €24,975 | +€19,102 | +325% |
| Current investments | 50/53 | €90,000 | €0 | -€90,000 | -100% |
| Cash at bank and in hand | 54/58 | €53,379 | €134,944 | +€81,566 | +153% |
| Deferred charges and accrued income | 490/1 | €2,758 | €2,059 | -€700 | -25.4% |
| Total equity and liabilities | 10/49 | €406,210 | €400,585 | -€5,625 | -1.4% |
| Equity | 10/15 | €255,353 | €277,190 | +€21,838 | +8.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,953 | €264,790 | +€21,838 | +9.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €242,953 | €264,790 | +€21,838 | +9.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €150,857 | €123,395 | -€27,462 | -18.2% |
| Amounts payable after more than one year | 17 | €110,828 | €87,203 | -€23,625 | -21.3% |
| Financial debts | 170/4 | €110,828 | €87,203 | -€23,625 | -21.3% |
| Amounts payable within one year | 42/48 | €39,744 | €36,154 | -€3,591 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €22,866 | €23,632 | +€766 | +3.3% |
| Trade debts | 44 | €7,758 | €4,795 | -€2,963 | -38.2% |
| Suppliers | 440/4 | €7,758 | €4,795 | -€2,963 | -38.2% |
| Taxes, remuneration and social security | 45 | €5,767 | €6,061 | +€294 | +5.1% |
| Taxes | 450/3 | €5,767 | €6,061 | +€294 | +5.1% |
| Other amounts payable | 47/48 | €3,353 | €1,666 | -€1,687 | -50.3% |
| Accrued charges and deferred income | 492/3 | €285 | €38 | -€246 | -86.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,062 | €20,899 | -€163 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,033 | €6,992 | -€1,041 | -13.0% |
| Gross operating margin | 9900 | €84,447 | €93,969 | +€9,522 | +11.3% |
| Operating profit (loss) | 9901 | €55,352 | €66,078 | +€10,726 | +19.4% |
| Financial income | 75/76B | €2,841 | €2,349 | -€492 | -17.3% |
| Recurring financial income | 75 | €2,841 | €2,349 | -€492 | -17.3% |
| Financial charges | 65/66B | €5,775 | €4,859 | -€915 | -15.8% |
| Recurring financial charges | 65 | €5,775 | €4,859 | -€915 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €52,419 | €63,568 | +€11,149 | +21.3% |
| Income taxes | 67/77 | €14,974 | €18,267 | +€3,293 | +22.0% |
| Profit (loss) for the period | 9904 | €37,445 | €45,301 | +€7,856 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,445 | €45,301 | +€7,856 | +21.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.