GGrowth: 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.
GGrowth
Largest movements
- Cash -€234,094
down €234,094 (-48.9%), from €478,655 to €244,561
mainly Receivables within one year (-€165,866) and Contributions, distributions and other (-€103,953)
- Receivables within one year +€165,866
up €165,866 (+338.1%), from €49,064 to €214,930
of which Other amounts receivable: +€141,699
- Tangible fixed assets +€63,527
up €63,527 (+199.6%), from €31,824 to €95,351
of which Plant, machinery and equipment: +€35,509
- Reserves -€40,426
down €40,426 (-9.7%), from €418,865 to €378,439
of which Distributable reserves: -€40,426
- Other debts +€36,612
up €36,612 (+45.8%), from €79,888 to €116,500
- Tax, wage and social debts -€10,605
down €10,605 (-39.9%), from €26,565 to €15,960
of which Taxes: -€18,351
- Current portion of long-term debt +€8,333
new in 2025: €8,333
- Gross operating margin +€14,350
up €14,350 (+14.3%), from €100,237 to €114,587
- Taxes +€9,460
up €9,460 (+39.5%), from €23,940 to €33,400
- Depreciation +€5,876
up €5,876 (+74.9%), from €7,848 to €13,724
- Financial income +€3,367
up €3,367 (+2480.7%), from €136 to €3,503
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 | €559,544 | €554,842 | -€4,701 | -0.8% |
| Fixed assets | 21/28 | €31,824 | €95,351 | +€63,527 | +199.6% |
| Tangible fixed assets | 22/27 | €31,824 | €95,351 | +€63,527 | +199.6% |
| Plant, machinery and equipment | 23 | €10,820 | €46,330 | +€35,509 | +328.2% |
| Furniture and vehicles | 24 | €6,504 | €34,521 | +€28,018 | +430.8% |
| Other tangible fixed assets | 26 | €14,500 | €14,500 | = | 0.0% |
| Current assets | 29/58 | €527,719 | €459,491 | -€68,228 | -12.9% |
| Amounts receivable within one year | 40/41 | €49,064 | €214,930 | +€165,866 | +338.1% |
| Trade receivables | 40 | €31,636 | €55,803 | +€24,167 | +76.4% |
| Other amounts receivable | 41 | €17,428 | €159,127 | +€141,699 | +813.0% |
| Cash at bank and in hand | 54/58 | €478,655 | €244,561 | -€234,094 | -48.9% |
| Total equity and liabilities | 10/49 | €559,544 | €554,842 | -€4,701 | -0.8% |
| Equity | 10/15 | €431,265 | €390,839 | -€40,426 | -9.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €418,865 | €378,439 | -€40,426 | -9.7% |
| Non-distributable reserves | 130/1 | €8,313 | €8,313 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,313 | €8,313 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,792 | €23,792 | = | 0.0% |
| Distributable reserves | 133 | €386,761 | €346,334 | -€40,426 | -10.5% |
| Amounts payable | 17/49 | €128,278 | €164,003 | +€35,725 | +27.8% |
| Amounts payable within one year | 42/48 | €128,278 | €164,003 | +€35,725 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | - | €8,333 | +€8,333 | |
| Trade debts | 44 | €21,825 | €21,884 | +€58 | +0.3% |
| Suppliers | 440/4 | €21,825 | €21,884 | +€58 | +0.3% |
| Advances received on contracts in progress | 46 | - | €1,326 | +€1,326 | |
| Taxes, remuneration and social security | 45 | €26,565 | €15,960 | -€10,605 | -39.9% |
| Taxes | 450/3 | €26,565 | €8,214 | -€18,351 | -69.1% |
| Remuneration and social security | 454/9 | - | €7,746 | +€7,746 | |
| Other amounts payable | 47/48 | €79,888 | €116,500 | +€36,612 | +45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,848 | €13,724 | +€5,876 | +74.9% |
| Other operating charges | 640/8 | €5,840 | €6,029 | +€190 | +3.3% |
| Gross operating margin | 9900 | €100,237 | €114,587 | +€14,350 | +14.3% |
| Operating profit (loss) | 9901 | €86,550 | €94,834 | +€8,284 | +9.6% |
| Financial income | 75/76B | €136 | €3,503 | +€3,367 | +2480.7% |
| Recurring financial income | 75 | €136 | €3,503 | +€3,367 | +2480.7% |
| Financial charges | 65/66B | €812 | €1,410 | +€598 | +73.7% |
| Recurring financial charges | 65 | €812 | €1,410 | +€598 | +73.7% |
| Profit (loss) for the period before taxes | 9903 | €85,874 | €96,927 | +€11,053 | +12.9% |
| Income taxes | 67/77 | €23,940 | €33,400 | +€9,460 | +39.5% |
| Profit (loss) for the period | 9904 | €61,934 | €63,527 | +€1,593 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,934 | €63,527 | +€1,593 | +2.6% |
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.