FULL GREC: 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.
FULL GREC
Largest movements
- Receivables within one year +€93,826
up €93,826 (+1206.6%), from €7,776 to €101,602
of which Other amounts receivable: +€77,242
- Tangible fixed assets -€15,516
down €15,516 (-38.7%), from €40,145 to €24,629
of which Furniture and vehicles: -€12,295
- Cash +€8,554
up €8,554 (+614.5%), from €1,392 to €9,946
mainly Net result for the year (+€39,938) and Advances received (+€23,998)
- Stocks and contracts +€4,462
up €4,462 (+24.5%), from €18,220 to €22,682
- Deferred charges and accrued income -€2,799
down €2,799 (-89.2%), from €3,139 to €340
- Reserves +€39,000
new in 2025: €39,000
- Advances received +€23,998
up €23,998 (+444.2%), from €5,402 to €29,400
- Tax, wage and social debts +€17,221
up €17,221 (+231.6%), from €7,434 to €24,655
- Trade debts +€5,370
up €5,370 (+30.1%), from €17,814 to €23,184
- Gross operating margin +€34,673
up €34,673 (+88.3%), from €39,286 to €73,959
- Taxes +€12,423
up €12,423 (+167.1%), from €7,435 to €19,858
- Other operating charges +€2,753
up €2,753 (+104.7%), from €2,631 to €5,384
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 | €72,672 | €159,199 | +€86,527 | +119.1% |
| Fixed assets | 21/28 | €42,145 | €24,629 | -€17,516 | -41.6% |
| Tangible fixed assets | 22/27 | €40,145 | €24,629 | -€15,516 | -38.7% |
| Land and buildings | 22 | €5,949 | €4,950 | -€999 | -16.8% |
| Plant, machinery and equipment | 23 | €19,657 | €17,435 | -€2,222 | -11.3% |
| Furniture and vehicles | 24 | €14,539 | €2,244 | -€12,295 | -84.6% |
| Financial fixed assets | 28 | €2,000 | €0 | -€2,000 | -100.0% |
| Current assets | 29/58 | €30,527 | €134,570 | +€104,043 | +340.8% |
| Stocks and contracts in progress | 3 | €18,220 | €22,682 | +€4,462 | +24.5% |
| Stocks | 30/36 | €18,220 | €22,682 | +€4,462 | +24.5% |
| Amounts receivable within one year | 40/41 | €7,776 | €101,602 | +€93,826 | +1206.6% |
| Trade receivables | 40 | €1,163 | €17,747 | +€16,584 | +1426.0% |
| Other amounts receivable | 41 | €6,613 | €83,855 | +€77,242 | +1168.0% |
| Cash at bank and in hand | 54/58 | €1,392 | €9,946 | +€8,554 | +614.5% |
| Deferred charges and accrued income | 490/1 | €3,139 | €340 | -€2,799 | -89.2% |
| Total equity and liabilities | 10/49 | €72,672 | €159,199 | +€86,527 | +119.1% |
| Equity | 10/15 | €42,022 | €81,960 | +€39,938 | +95.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €39,000 | +€39,000 | |
| Distributable reserves | 133 | - | €39,000 | +€39,000 | |
| Profit (loss) carried forward | 14 | €22,022 | €22,960 | +€938 | +4.3% |
| Amounts payable | 17/49 | €30,650 | €77,238 | +€46,588 | +152.0% |
| Amounts payable within one year | 42/48 | €30,650 | €77,238 | +€46,588 | +152.0% |
| Trade debts | 44 | €17,814 | €23,184 | +€5,370 | +30.1% |
| Suppliers | 440/4 | €17,814 | €23,184 | +€5,370 | +30.1% |
| Advances received on contracts in progress | 46 | €5,402 | €29,400 | +€23,998 | +444.2% |
| Taxes, remuneration and social security | 45 | €7,434 | €24,655 | +€17,221 | +231.6% |
| Taxes | 450/3 | €7,434 | €24,655 | +€17,221 | +231.6% |
| Remuneration, social security and pensions | 62 | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,618 | €7,176 | +€558 | +8.4% |
| Other operating charges | 640/8 | €2,631 | €5,384 | +€2,753 | +104.7% |
| Gross operating margin | 9900 | €39,286 | €73,959 | +€34,673 | +88.3% |
| Operating profit (loss) | 9901 | €30,037 | €61,381 | +€31,344 | +104.4% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,071 | €1,587 | +€516 | +48.2% |
| Recurring financial charges | 65 | €1,071 | €1,587 | +€516 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €28,966 | €59,796 | +€30,830 | +106.4% |
| Income taxes | 67/77 | €7,435 | €19,858 | +€12,423 | +167.1% |
| Profit (loss) for the period | 9904 | €21,531 | €39,938 | +€18,407 | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,531 | €39,938 | +€18,407 | +85.5% |
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 12 October 2026 via checked.be.