GR-MANAGEMENT: 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-MANAGEMENT
Largest movements
- Cash -€44,923
down €44,923 (-30.5%), from €147,105 to €102,182
mainly Trade debts (-€50,210) and Tax, wage and social debts (-€16,067)
- Tangible fixed assets -€11,044
down €11,044 (-75.6%), from €14,611 to €3,568
- Receivables within one year +€8,879
up €8,879 (+16.5%), from €53,920 to €62,799
of which Trade receivables: +€8,719
- Trade debts -€50,210
down €50,210 (-85.3%), from €58,894 to €8,684
- Reserves +€36,315
up €36,315 (+40.6%), from €89,503 to €125,818
- Tax, wage and social debts -€16,067
down €16,067 (-36.3%), from €44,201 to €28,134
of which Remuneration and social security: -€12,701
- Current portion of long-term debt -€12,783
down €12,783 (-91.7%), from €13,947 to €1,164
- Other operating charges +€18,778
up €18,778 (+1601.2%), from €1,173 to €19,951
- Gross operating margin +€8,610
up €8,610 (+10.8%), from €80,040 to €88,650
- Taxes -€3,020
down €3,020 (-15.2%), from €19,801 to €16,781
- Depreciation +€1,401
up €1,401 (+10.1%), from €13,846 to €15,247
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 | €215,667 | €170,004 | -€45,663 | -21.2% |
| Fixed assets | 21/28 | €14,641 | €5,023 | -€9,619 | -65.7% |
| Tangible fixed assets | 22/27 | €14,611 | €3,568 | -€11,044 | -75.6% |
| Furniture and vehicles | 24 | €14,611 | €3,568 | -€11,044 | -75.6% |
| Financial fixed assets | 28 | €30 | €1,455 | +€1,425 | +4750.0% |
| Current assets | 29/58 | €201,025 | €164,981 | -€36,044 | -17.9% |
| Amounts receivable within one year | 40/41 | €53,920 | €62,799 | +€8,879 | +16.5% |
| Trade receivables | 40 | €53,920 | €62,639 | +€8,719 | +16.2% |
| Other amounts receivable | 41 | - | €159 | +€159 | |
| Cash at bank and in hand | 54/58 | €147,105 | €102,182 | -€44,923 | -30.5% |
| Total equity and liabilities | 10/49 | €215,667 | €170,004 | -€45,663 | -21.2% |
| Equity | 10/15 | €92,093 | €128,409 | +€36,315 | +39.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €89,503 | €125,818 | +€36,315 | +40.6% |
| Distributable reserves | 133 | €89,503 | €125,818 | +€36,315 | +40.6% |
| Profit (loss) carried forward | 14 | €591 | €591 | = | 0.0% |
| Amounts payable | 17/49 | €123,574 | €41,595 | -€81,978 | -66.3% |
| Amounts payable after more than one year | 17 | €4,775 | €3,612 | -€1,164 | -24.4% |
| Financial debts | 170/4 | €4,775 | €3,612 | -€1,164 | -24.4% |
| Amounts payable within one year | 42/48 | €118,798 | €37,983 | -€80,815 | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €13,947 | €1,164 | -€12,783 | -91.7% |
| Trade debts | 44 | €58,894 | €8,684 | -€50,210 | -85.3% |
| Suppliers | 440/4 | €58,894 | €8,684 | -€50,210 | -85.3% |
| Taxes, remuneration and social security | 45 | €44,201 | €28,134 | -€16,067 | -36.3% |
| Taxes | 450/3 | €31,500 | €28,134 | -€3,365 | -10.7% |
| Remuneration and social security | 454/9 | €12,701 | - | -€12,701 | |
| Other amounts payable | 47/48 | €1,757 | €2 | -€1,755 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,846 | €15,247 | +€1,401 | +10.1% |
| Other operating charges | 640/8 | €1,173 | €19,951 | +€18,778 | +1601.2% |
| Gross operating margin | 9900 | €80,040 | €88,650 | +€8,610 | +10.8% |
| Operating profit (loss) | 9901 | €65,021 | €53,452 | -€11,569 | -17.8% |
| Financial income | 75/76B | - | €396 | +€396 | |
| Recurring financial income | 75 | - | €396 | +€396 | |
| Financial charges | 65/66B | €1,172 | €751 | -€422 | -36.0% |
| Recurring financial charges | 65 | €1,172 | €751 | -€422 | -36.0% |
| Non-recurring financial charges | 66B | €1,172 | €751 | -€422 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €63,849 | €53,097 | -€10,752 | -16.8% |
| Income taxes | 67/77 | €19,801 | €16,781 | -€3,020 | -15.2% |
| Profit (loss) for the period | 9904 | €44,048 | €36,315 | -€7,732 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,048 | €36,315 | -€7,732 | -17.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.