GR FINANCE: 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 FINANCE
Largest movements
- Cash -€92,771
down €92,771 (-87.8%), from €105,700 to €12,929
mainly Receivables within one year (-€69,422) and Tax, wage and social debts (-€16,879)
- Receivables within one year +€69,422
up €69,422 (+954%), from €7,277 to €76,699
of which Other amounts receivable: +€76,372
- Tangible fixed assets +€6,434
up €6,434 (+161%), from €3,989 to €10,423
of which Other tangible fixed assets: +€7,296
- Tax, wage and social debts -€16,879
down €16,879 (-81.7%), from €20,662 to €3,783
- Reserves +€12,000
new in 2025: €12,000
- Other debts -€10,163
down €10,163 (-57.6%), from €17,642 to €7,479
- Accrued charges and deferred income -€1,530
down €1,530 (-54.8%), from €2,790 to €1,260
- Financial charges -€18,658
down €18,658 (-93.5%), from €19,958 to €1,299
- Taxes +€3,551
up €3,551 (+1,534%), from €232 to €3,783
- Depreciation -€1,723
down €1,723 (-58.3%), from €2,953 to €1,230
- Gross operating margin +€1,635
up €1,635 (+7.9%), from €20,805 to €22,440
- Other operating charges -€1,222
down €1,222 (-44.5%), from €2,745 to €1,523
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 | €117,526 | €100,844 | -€16,682 | -14.2% |
| Fixed assets | 21/28 | €3,989 | €10,423 | +€6,434 | +161% |
| Tangible fixed assets | 22/27 | €3,989 | €10,423 | +€6,434 | +161% |
| Furniture and vehicles | 24 | €3,989 | €3,127 | -€862 | -21.6% |
| Other tangible fixed assets | 26 | - | €7,296 | +€7,296 | |
| Current assets | 29/58 | €113,537 | €90,421 | -€23,116 | -20.4% |
| Amounts receivable within one year | 40/41 | €7,277 | €76,699 | +€69,422 | +954% |
| Trade receivables | 40 | €6,950 | - | -€6,950 | |
| Other amounts receivable | 41 | €327 | €76,699 | +€76,372 | +23,375% |
| Cash at bank and in hand | 54/58 | €105,700 | €12,929 | -€92,771 | -87.8% |
| Deferred charges and accrued income | 490/1 | €560 | €793 | +€232 | +41.5% |
| Total equity and liabilities | 10/49 | €117,526 | €100,844 | -€16,682 | -14.2% |
| Equity | 10/15 | €74,115 | €86,685 | +€12,570 | +17.0% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | - | €12,000 | +€12,000 | |
| Distributable reserves | 133 | - | €12,000 | +€12,000 | |
| Profit (loss) carried forward | 14 | €61,515 | €62,085 | +€570 | +0.9% |
| Amounts payable | 17/49 | €43,412 | €14,159 | -€29,252 | -67.4% |
| Amounts payable within one year | 42/48 | €40,622 | €12,899 | -€27,722 | -68.2% |
| Trade debts | 44 | €2,317 | €1,637 | -€680 | -29.4% |
| Suppliers | 440/4 | €2,317 | €1,637 | -€680 | -29.4% |
| Taxes, remuneration and social security | 45 | €20,662 | €3,783 | -€16,879 | -81.7% |
| Taxes | 450/3 | €20,662 | €3,783 | -€16,879 | -81.7% |
| Other amounts payable | 47/48 | €17,642 | €7,479 | -€10,163 | -57.6% |
| Accrued charges and deferred income | 492/3 | €2,790 | €1,260 | -€1,530 | -54.8% |
| Remuneration, social security and pensions | 62 | €1,920 | €1,280 | -€640 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,953 | €1,230 | -€1,723 | -58.3% |
| Other operating charges | 640/8 | €2,745 | €1,523 | -€1,222 | -44.5% |
| Gross operating margin | 9900 | €20,805 | €22,440 | +€1,635 | +7.9% |
| Operating profit (loss) | 9901 | €13,187 | €18,407 | +€5,220 | +39.6% |
| Financial income | 75/76B | - | €78 | +€78 | |
| Recurring financial income | 75 | - | €78 | +€78 | |
| Financial charges | 65/66B | €19,958 | €1,299 | -€18,658 | -93.5% |
| Recurring financial charges | 65 | €19,958 | €1,299 | -€18,658 | -93.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,770 | €17,186 | +€23,956 | |
| Income taxes | 67/77 | €232 | €3,783 | +€3,551 | +1,534% |
| Profit (loss) for the period | 9904 | -€7,002 | €13,403 | +€20,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,002 | €13,403 | +€20,405 |
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 25 October 2026 via checked.be.