G.R.S.: 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.
G.R.S.
Largest movements
- Stocks and contracts +€10,093
up €10,093 (+13.9%), from €72,763 to €82,856
- Cash -€5,249
down €5,249 (-67.3%), from €7,794 to €2,545
mainly Debts after one year (-€12,701) and Stocks and contracts (-€10,093)
- Receivables within one year +€3,298
up €3,298 (+28.7%), from €11,506 to €14,804
of which Trade receivables: +€4,894
- Tangible fixed assets -€2,300
down €2,300 (-4.6%), from €49,932 to €47,632
of which Furniture and vehicles: -€2,114
- Debts after one year -€12,701
down €12,701 (-45.5%), from €27,908 to €15,207
- Trade debts +€9,086
up €9,086 (+20.1%), from €45,125 to €54,211
- Tax, wage and social debts +€8,177
up €8,177 (+72.9%), from €11,219 to €19,397
of which Remuneration and social security: +€8,221
- Staff costs +€7,586
up €7,586 (+9.6%), from €78,817 to €86,403
- Gross operating margin +€6,973
up €6,973 (+8.0%), from €87,525 to €94,498
- Depreciation +€1,755
up €1,755 (+322%), from €544 to €2,300
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 | €142,477 | €148,276 | +€5,799 | +4.1% |
| Fixed assets | 21/28 | €50,082 | €47,732 | -€2,350 | -4.7% |
| Tangible fixed assets | 22/27 | €49,932 | €47,632 | -€2,300 | -4.6% |
| Plant, machinery and equipment | 23 | €185 | - | -€185 | |
| Furniture and vehicles | 24 | €49,746 | €47,632 | -€2,114 | -4.2% |
| Financial fixed assets | 28 | €150 | €100 | -€50 | -33.3% |
| Current assets | 29/58 | €92,396 | €100,544 | +€8,149 | +8.8% |
| Stocks and contracts in progress | 3 | €72,763 | €82,856 | +€10,093 | +13.9% |
| Stocks | 30/36 | €72,763 | €82,856 | +€10,093 | +13.9% |
| Amounts receivable within one year | 40/41 | €11,506 | €14,804 | +€3,298 | +28.7% |
| Trade receivables | 40 | €3,748 | €8,642 | +€4,894 | +131% |
| Other amounts receivable | 41 | €7,758 | €6,162 | -€1,596 | -20.6% |
| Cash at bank and in hand | 54/58 | €7,794 | €2,545 | -€5,249 | -67.3% |
| Deferred charges and accrued income | 490/1 | €333 | €339 | +€6 | +1.9% |
| Total equity and liabilities | 10/49 | €142,477 | €148,276 | +€5,799 | +4.1% |
| Equity | 10/15 | €41,041 | €42,242 | +€1,202 | +2.9% |
| Contributions | 10/11 | €6,786 | €6,786 | = | 0.0% |
| Contributions outside capital | 11 | €6,786 | €6,786 | = | 0.0% |
| Other | 1109/19 | €6,786 | €6,786 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,400 | €33,601 | +€1,202 | +3.7% |
| Amounts payable | 17/49 | €101,437 | €106,034 | +€4,597 | +4.5% |
| Amounts payable after more than one year | 17 | €27,908 | €15,207 | -€12,701 | -45.5% |
| Financial debts | 170/4 | €27,908 | €15,207 | -€12,701 | -45.5% |
| Amounts payable within one year | 42/48 | €73,431 | €90,164 | +€16,733 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €13,418 | €13,709 | +€291 | +2.2% |
| Trade debts | 44 | €45,125 | €54,211 | +€9,086 | +20.1% |
| Suppliers | 440/4 | €45,125 | €54,211 | +€9,086 | +20.1% |
| Taxes, remuneration and social security | 45 | €11,219 | €19,397 | +€8,177 | +72.9% |
| Taxes | 450/3 | €668 | €625 | -€44 | -6.5% |
| Remuneration and social security | 454/9 | €10,551 | €18,772 | +€8,221 | +77.9% |
| Other amounts payable | 47/48 | €3,669 | €2,848 | -€821 | -22.4% |
| Accrued charges and deferred income | 492/3 | €98 | €662 | +€564 | +578% |
| Remuneration, social security and pensions | 62 | €78,817 | €86,403 | +€7,586 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €2,300 | +€1,755 | +322% |
| Other operating charges | 640/8 | €1,594 | €1,342 | -€253 | -15.9% |
| Gross operating margin | 9900 | €87,525 | €94,498 | +€6,973 | +8.0% |
| Operating profit (loss) | 9901 | €6,569 | €4,453 | -€2,116 | -32.2% |
| Financial income | 75/76B | €30 | €5 | -€25 | -82.7% |
| Recurring financial income | 75 | €30 | €5 | -€25 | -82.7% |
| Financial charges | 65/66B | €3,140 | €2,764 | -€377 | -12.0% |
| Recurring financial charges | 65 | €3,140 | €2,764 | -€377 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €3,459 | €1,695 | -€1,764 | -51.0% |
| Income taxes | 67/77 | €932 | €493 | -€440 | -47.2% |
| Profit (loss) for the period | 9904 | €2,527 | €1,202 | -€1,325 | -52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,527 | €1,202 | -€1,325 | -52.4% |
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 24 October 2026 via checked.be.