GERT GROBBEN: 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.
GERT GROBBEN
Largest movements
- Cash +€455,783
up €455,783 (+432%), from €105,517 to €561,299
mainly Net result for the year (+€656,922) and Receivables within one year (+€188,015)
- Receivables within one year -€188,015
down €188,015 (-99.6%), from €188,753 to €739
- Receivables after one year +€173,290
up €173,290 (+17.2%), from €1.0m to €1.2m
- Current investments -€150,000
down €150,000 (-23.1%), from €650,000 to €500,000
- Deferred charges and accrued income -€121,168
down €121,168 (-11.1%), from €1.1m to €973,600
- Reserves +€205,900
up €205,900 (+8.3%), from €2.5m to €2.7m
- Tax, wage and social debts -€41,390
down €41,390 (-29.3%), from €141,376 to €99,986
- Gross operating margin -€124,965
down €124,965 (-12.1%), from €1.0m to €906,707
- Taxes -€36,394
down €36,394 (-10.8%), from €338,256 to €301,862
- Financial income +€26,103
up €26,103 (+60.0%), from €43,527 to €69,631
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 | €3,058,403 | €3,244,779 | +€186,376 | +6.1% |
| Fixed assets | 21/28 | €13,647 | €30,132 | +€16,485 | +121% |
| Tangible fixed assets | 22/27 | €13,647 | €30,132 | +€16,485 | +121% |
| Plant, machinery and equipment | 23 | €671 | €507 | -€164 | -24.5% |
| Furniture and vehicles | 24 | €11,589 | €28,636 | +€17,046 | +147% |
| Other tangible fixed assets | 26 | €1,386 | €990 | -€397 | -28.6% |
| Current assets | 29/58 | €3,044,756 | €3,214,647 | +€169,891 | +5.6% |
| Amounts receivable after more than one year | 29 | €1,005,719 | €1,179,010 | +€173,290 | +17.2% |
| Other amounts receivable | 291 | €1,005,719 | €1,179,010 | +€173,290 | +17.2% |
| Amounts receivable within one year | 40/41 | €188,753 | €739 | -€188,015 | -99.6% |
| Other amounts receivable | 41 | €188,753 | €739 | -€188,015 | -99.6% |
| Current investments | 50/53 | €650,000 | €500,000 | -€150,000 | -23.1% |
| Cash at bank and in hand | 54/58 | €105,517 | €561,299 | +€455,783 | +432% |
| Deferred charges and accrued income | 490/1 | €1,094,767 | €973,600 | -€121,168 | -11.1% |
| Total equity and liabilities | 10/49 | €3,058,403 | €3,244,779 | +€186,376 | +6.1% |
| Equity | 10/15 | €2,615,080 | €2,821,002 | +€205,922 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,485,260 | €2,691,160 | +€205,900 | +8.3% |
| Distributable reserves | 133 | €2,485,260 | €2,691,160 | +€205,900 | +8.3% |
| Profit (loss) carried forward | 14 | €111,220 | €111,242 | +€22 | 0.0% |
| Amounts payable | 17/49 | €443,323 | €423,778 | -€19,546 | -4.4% |
| Amounts payable within one year | 42/48 | €435,128 | €416,120 | -€19,008 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €279,602 | €293,352 | +€13,750 | +4.9% |
| Trade debts | 44 | €14,150 | €18,496 | +€4,346 | +30.7% |
| Suppliers | 440/4 | €14,150 | €18,496 | +€4,346 | +30.7% |
| Taxes, remuneration and social security | 45 | €141,376 | €99,986 | -€41,390 | -29.3% |
| Taxes | 450/3 | €141,376 | €99,986 | -€41,390 | -29.3% |
| Other amounts payable | 47/48 | - | €4,286 | +€4,286 | |
| Accrued charges and deferred income | 492/3 | €8,196 | €7,657 | -€538 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,140 | €10,715 | +€6,575 | +159% |
| Other operating charges | 640/8 | €182 | €424 | +€241 | +132% |
| Gross operating margin | 9900 | €1,031,671 | €906,707 | -€124,965 | -12.1% |
| Operating profit (loss) | 9901 | €1,027,349 | €895,568 | -€131,781 | -12.8% |
| Financial income | 75/76B | €43,527 | €69,631 | +€26,103 | +60.0% |
| Recurring financial income | 75 | €43,527 | €69,631 | +€26,103 | +60.0% |
| Financial charges | 65/66B | €5,784 | €6,415 | +€631 | +10.9% |
| Recurring financial charges | 65 | €5,784 | €6,415 | +€631 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €1,065,092 | €958,783 | -€106,308 | -10.0% |
| Income taxes | 67/77 | €338,256 | €301,862 | -€36,394 | -10.8% |
| Profit (loss) for the period | 9904 | €726,836 | €656,922 | -€69,914 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €726,836 | €656,922 | -€69,914 | -9.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.