Filip Grillet: 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.
Filip Grillet
Largest movements
- Receivables within one year -€374,601
down €374,601 (-68.7%), from €545,321 to €170,719
of which Other amounts receivable: -€283,451
- Cash -€171,898
down €171,898 (-56.5%), from €304,272 to €132,374
mainly Contributions, distributions and other (-€965,308) and Tax, wage and social debts (-€13,606)
- Reserves -€786,020
down €786,020 (-100%), from €786,020 to €0
- Other debts +€247,034
up €247,034 (+5,517%), from €4,477 to €251,512
- Tax, wage and social debts -€13,606
down €13,606 (-20.3%), from €66,932 to €53,326
- Gross operating margin -€104,243
down €104,243 (-31.4%), from €331,611 to €227,368
- Taxes -€28,744
down €28,744 (-34.8%), from €82,609 to €53,865
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 | €859,580 | €308,031 | -€551,549 | -64.2% |
| Fixed assets | 21/28 | €5,604 | €4,935 | -€670 | -12.0% |
| Tangible fixed assets | 22/27 | €5,404 | €4,735 | -€670 | -12.4% |
| Plant, machinery and equipment | 23 | €519 | €220 | -€299 | -57.6% |
| Furniture and vehicles | 24 | €4,885 | €4,515 | -€370 | -7.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €853,976 | €303,097 | -€550,879 | -64.5% |
| Amounts receivable within one year | 40/41 | €545,321 | €170,719 | -€374,601 | -68.7% |
| Trade receivables | 40 | €239,321 | €148,171 | -€91,150 | -38.1% |
| Other amounts receivable | 41 | €306,000 | €22,549 | -€283,451 | -92.6% |
| Cash at bank and in hand | 54/58 | €304,272 | €132,374 | -€171,898 | -56.5% |
| Deferred charges and accrued income | 490/1 | €4,383 | €3 | -€4,380 | -99.9% |
| Total equity and liabilities | 10/49 | €859,580 | €308,031 | -€551,549 | -64.2% |
| Equity | 10/15 | €788,020 | €2,000 | -€786,020 | -99.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €786,020 | €0 | -€786,020 | -100% |
| Distributable reserves | 133 | €786,020 | €0 | -€786,020 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,560 | €306,031 | +€234,471 | +328% |
| Amounts payable within one year | 42/48 | €71,560 | €306,031 | +€234,471 | +328% |
| Trade debts | 44 | €151 | €1,194 | +€1,043 | +691% |
| Suppliers | 440/4 | €151 | €1,194 | +€1,043 | +691% |
| Taxes, remuneration and social security | 45 | €66,932 | €53,326 | -€13,606 | -20.3% |
| Taxes | 450/3 | €66,932 | €53,326 | -€13,606 | -20.3% |
| Other amounts payable | 47/48 | €4,477 | €251,512 | +€247,034 | +5,517% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,475 | €3,835 | +€360 | +10.4% |
| Other operating charges | 640/8 | €631 | €518 | -€114 | -18.0% |
| Gross operating margin | 9900 | €331,611 | €227,368 | -€104,243 | -31.4% |
| Operating profit (loss) | 9901 | €327,504 | €223,015 | -€104,489 | -31.9% |
| Financial income | 75/76B | €7,472 | €10,384 | +€2,912 | +39.0% |
| Recurring financial income | 75 | €7,472 | €10,384 | +€2,912 | +39.0% |
| Financial charges | 65/66B | €80 | €246 | +€166 | +208% |
| Recurring financial charges | 65 | €80 | €246 | +€166 | +208% |
| Profit (loss) for the period before taxes | 9903 | €334,897 | €233,153 | -€101,744 | -30.4% |
| Income taxes | 67/77 | €82,609 | €53,865 | -€28,744 | -34.8% |
| Profit (loss) for the period | 9904 | €252,287 | €179,288 | -€73,000 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €252,287 | €179,288 | -€73,000 | -28.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.