GR DEVELOPMENT: 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.
GR DEVELOPMENT
Largest movements
- Tangible fixed assets -€10,282
down €10,282 (-82.3%), from €12,488 to €2,206
of which Leasing and similar rights: -€9,966
- Deferred charges and accrued income +€2,310
new in 2025: €2,310
- Receivables within one year +€1,597
up €1,597 (+12.4%), from €12,844 to €14,441
of which Trade receivables: +€957
- Cash +€1,018
up €1,018 (+20.4%), from €5,001 to €6,019
mainly Depreciation (+€10,282) and Net result for the year (+€5,731)
- Reserves +€5,000
up €5,000 (+268.8%), from €1,860 to €6,860
of which Distributable reserves: +€5,000
- Debts after one year -€3,599
no longer reported in 2025 (was €3,599)
- Tax, wage and social debts -€3,537
down €3,537 (-33.1%), from €10,700 to €7,163
of which Remuneration and social security: -€2,995
- Current portion of long-term debt -€3,296
down €3,296 (-28.6%), from €11,516 to €8,220
- Trade debts -€2,407
down €2,407 (-57.0%), from €4,226 to €1,819
- Staff costs +€3,309
up €3,309 (+51.1%), from €6,481 to €9,790
- Financial charges +€2,316
up €2,316 (+425.7%), from €544 to €2,860
- Depreciation -€1,219
down €1,219 (-10.6%), from €11,501 to €10,282
- Taxes -€456
down €456 (-10.1%), from €4,502 to €4,046
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 | €30,453 | €25,096 | -€5,357 | -17.6% |
| Fixed assets | 21/28 | €12,608 | €2,326 | -€10,282 | -81.6% |
| Tangible fixed assets | 22/27 | €12,488 | €2,206 | -€10,282 | -82.3% |
| Furniture and vehicles | 24 | €91 | - | -€91 | |
| Leasing and similar rights | 25 | €12,172 | €2,206 | -€9,966 | -81.9% |
| Other tangible fixed assets | 26 | €225 | - | -€225 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €17,845 | €22,770 | +€4,925 | +27.6% |
| Amounts receivable within one year | 40/41 | €12,844 | €14,441 | +€1,597 | +12.4% |
| Trade receivables | 40 | €9,737 | €10,694 | +€957 | +9.8% |
| Other amounts receivable | 41 | €3,107 | €3,747 | +€640 | +20.6% |
| Cash at bank and in hand | 54/58 | €5,001 | €6,019 | +€1,018 | +20.4% |
| Deferred charges and accrued income | 490/1 | - | €2,310 | +€2,310 | |
| Total equity and liabilities | 10/49 | €30,453 | €25,096 | -€5,357 | -17.6% |
| Equity | 10/15 | -€1,971 | €3,760 | +€5,731 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €6,860 | +€5,000 | +268.8% |
| 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 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | -€10,031 | -€9,300 | +€731 | +7.3% |
| Amounts payable | 17/49 | €32,424 | €21,336 | -€11,088 | -34.2% |
| Amounts payable after more than one year | 17 | €3,599 | - | -€3,599 | |
| Financial debts | 170/4 | €3,599 | - | -€3,599 | |
| Amounts payable within one year | 42/48 | €28,766 | €21,257 | -€7,509 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €11,516 | €8,220 | -€3,296 | -28.6% |
| Financial debts | 43 | €2,324 | €4,055 | +€1,731 | +74.5% |
| Credit institutions | 430/8 | €2,324 | €4,055 | +€1,731 | +74.5% |
| Trade debts | 44 | €4,226 | €1,819 | -€2,407 | -57.0% |
| Suppliers | 440/4 | €4,226 | €1,819 | -€2,407 | -57.0% |
| Taxes, remuneration and social security | 45 | €10,700 | €7,163 | -€3,537 | -33.1% |
| Taxes | 450/3 | €4,090 | €3,548 | -€542 | -13.3% |
| Remuneration and social security | 454/9 | €6,610 | €3,615 | -€2,995 | -45.3% |
| Accrued charges and deferred income | 492/3 | €59 | €79 | +€20 | +33.9% |
| Non-recurring operating income | 76A | €2,731 | - | -€2,731 | |
| Remuneration, social security and pensions | 62 | €6,481 | €9,790 | +€3,309 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,501 | €10,282 | -€1,219 | -10.6% |
| Other operating charges | 640/8 | €2,703 | €2,628 | -€75 | -2.8% |
| Gross operating margin | 9900 | €35,164 | €35,309 | +€145 | +0.4% |
| Operating profit (loss) | 9901 | €14,479 | €12,609 | -€1,870 | -12.9% |
| Financial income | 75/76B | €1 | €28 | +€27 | +2700.0% |
| Recurring financial income | 75 | €1 | €28 | +€27 | +2700.0% |
| Financial charges | 65/66B | €544 | €2,860 | +€2,316 | +425.7% |
| Recurring financial charges | 65 | €544 | €2,860 | +€2,316 | +425.7% |
| Profit (loss) for the period before taxes | 9903 | €13,936 | €9,777 | -€4,159 | -29.8% |
| Income taxes | 67/77 | €4,502 | €4,046 | -€456 | -10.1% |
| Profit (loss) for the period | 9904 | €9,434 | €5,731 | -€3,703 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,434 | €5,731 | -€3,703 | -39.3% |
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 11 October 2026 via checked.be.