FILIP VAN GRIMBERGE: 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 VAN GRIMBERGE
Largest movements
- Current investments +€105,928
up €105,928 (+26.8%), from €395,593 to €501,521
- Cash +€41,390
up €41,390 (+33.2%), from €124,619 to €166,009
mainly Net result for the year (+€221,101) and Accrued charges and deferred income (+€39,057)
- Tangible fixed assets -€23,553
down €23,553 (-10.4%), from €226,698 to €203,145
of which Furniture and vehicles: -€21,914
- Receivables within one year -€16,961
down €16,961 (-12.1%), from €139,812 to €122,851
- Reserves +€100,000
up €100,000 (+13.8%), from €724,490 to €824,490
of which Distributable reserves: +€100,000
- Accrued charges and deferred income +€39,057
up €39,057 (+68.5%), from €57,001 to €96,058
- Other debts -€24,451
down €24,451 (-95.7%), from €25,551 to €1,101
- Gross operating margin +€41,552
up €41,552 (+13.5%), from €307,520 to €349,073
- Financial income +€14,717
up €14,717 (+82.6%), from €17,827 to €32,544
- Taxes +€12,491
up €12,491 (+14.3%), from €87,578 to €100,070
- Financial charges +€10,079
up €10,079 (+110%), from €9,159 to €19,239
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 | €892,887 | €1,000,449 | +€107,562 | +12.0% |
| Fixed assets | 21/28 | €226,698 | €203,145 | -€23,553 | -10.4% |
| Tangible fixed assets | 22/27 | €226,698 | €203,145 | -€23,553 | -10.4% |
| Land and buildings | 22 | €118,491 | €107,680 | -€10,811 | -9.1% |
| Plant, machinery and equipment | 23 | €4,199 | €3,410 | -€789 | -18.8% |
| Furniture and vehicles | 24 | €104,009 | €82,095 | -€21,914 | -21.1% |
| Other tangible fixed assets | 26 | - | €9,960 | +€9,960 | |
| Current assets | 29/58 | €666,189 | €797,304 | +€131,115 | +19.7% |
| Amounts receivable within one year | 40/41 | €139,812 | €122,851 | -€16,961 | -12.1% |
| Other amounts receivable | 41 | €139,812 | €122,851 | -€16,961 | -12.1% |
| Current investments | 50/53 | €395,593 | €501,521 | +€105,928 | +26.8% |
| Cash at bank and in hand | 54/58 | €124,619 | €166,009 | +€41,390 | +33.2% |
| Deferred charges and accrued income | 490/1 | €6,165 | €6,923 | +€758 | +12.3% |
| Total equity and liabilities | 10/49 | €892,887 | €1,000,449 | +€107,562 | +12.0% |
| Equity | 10/15 | €743,090 | €843,090 | +€100,000 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €724,490 | €824,490 | +€100,000 | +13.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €722,630 | €822,630 | +€100,000 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,797 | €157,359 | +€7,562 | +5.0% |
| Amounts payable within one year | 42/48 | €92,796 | €61,301 | -€31,495 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €16,930 | €11,801 | -€5,129 | -30.3% |
| Trade debts | 44 | €7,337 | €7,349 | +€12 | +0.2% |
| Suppliers | 440/4 | €7,337 | €7,349 | +€12 | +0.2% |
| Taxes, remuneration and social security | 45 | €42,978 | €41,050 | -€1,928 | -4.5% |
| Taxes | 450/3 | €42,978 | €41,050 | -€1,928 | -4.5% |
| Other amounts payable | 47/48 | €25,551 | €1,101 | -€24,451 | -95.7% |
| Accrued charges and deferred income | 492/3 | €57,001 | €96,058 | +€39,057 | +68.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,588 | €36,217 | +€629 | +1.8% |
| Other operating charges | 640/8 | €5,002 | €4,991 | -€11 | -0.2% |
| Non-recurring operating charges | 66A | €3,668 | €0 | -€3,668 | -100% |
| Gross operating margin | 9900 | €307,520 | €349,073 | +€41,552 | +13.5% |
| Operating profit (loss) | 9901 | €263,263 | €307,865 | +€44,602 | +16.9% |
| Financial income | 75/76B | €17,827 | €32,544 | +€14,717 | +82.6% |
| Recurring financial income | 75 | €17,827 | €32,544 | +€14,717 | +82.6% |
| Financial charges | 65/66B | €9,159 | €19,239 | +€10,079 | +110% |
| Recurring financial charges | 65 | €9,159 | €19,239 | +€10,079 | +110% |
| Profit (loss) for the period before taxes | 9903 | €271,930 | €321,170 | +€49,240 | +18.1% |
| Income taxes | 67/77 | €87,578 | €100,070 | +€12,491 | +14.3% |
| Profit (loss) for the period | 9904 | €184,351 | €221,101 | +€36,749 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €184,351 | €221,101 | +€36,749 | +19.9% |
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.