Gr.Ow: 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.Ow
Largest movements
- Cash +€113,696
up €113,696 (+353%), from €32,195 to €145,891
- Receivables after one year +€30,000
up €30,000 (+100%), from €30,000 to €60,000
- Financial fixed assets -€22,385
down €22,385 (-98.7%), from €22,685 to €300
- Reserves +€71,000
up €71,000 (+74.1%), from €95,860 to €166,860
of which Distributable reserves: +€71,000
- Advances received +€22,076
new in 2025: €22,076
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Tax, wage and social debts +€9,670
up €9,670 (+45.0%), from €21,496 to €31,166
of which Taxes: +€9,649
- Other debts +€7,087
new in 2025: €7,087
- Gross operating margin +€6,614
up €6,614 (+9.3%), from €71,335 to €77,949
- Depreciation +€1,858
up €1,858 (+35.2%), from €5,277 to €7,135
- Taxes +€1,083
up €1,083 (+5.3%), from €20,414 to €21,497
- Financial income +€796
up €796 (+199%), from €400 to €1,196
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,329 | €249,895 | +€122,566 | +96.3% |
| Fixed assets | 21/28 | €63,118 | €39,220 | -€23,897 | -37.9% |
| Tangible fixed assets | 22/27 | €40,433 | €38,920 | -€1,512 | -3.7% |
| Furniture and vehicles | 24 | €3,777 | €8,649 | +€4,872 | +129% |
| Other tangible fixed assets | 26 | €36,655 | €30,271 | -€6,384 | -17.4% |
| Financial fixed assets | 28 | €22,685 | €300 | -€22,385 | -98.7% |
| Current assets | 29/58 | €64,212 | €210,675 | +€146,463 | +228% |
| Amounts receivable after more than one year | 29 | €30,000 | €60,000 | +€30,000 | +100% |
| Other amounts receivable | 291 | €30,000 | €60,000 | +€30,000 | +100% |
| Amounts receivable within one year | 40/41 | €1,617 | €3,117 | +€1,500 | +92.8% |
| Trade receivables | 40 | €1,617 | €3,117 | +€1,500 | +92.8% |
| Cash at bank and in hand | 54/58 | €32,195 | €145,891 | +€113,696 | +353% |
| Deferred charges and accrued income | 490/1 | €400 | €1,667 | +€1,267 | +317% |
| Total equity and liabilities | 10/49 | €127,329 | €249,895 | +€122,566 | +96.3% |
| Equity | 10/15 | €102,592 | €186,178 | +€83,586 | +81.5% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €95,860 | €166,860 | +€71,000 | +74.1% |
| 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 | €94,000 | €165,000 | +€71,000 | +75.5% |
| Profit (loss) carried forward | 14 | €532 | €718 | +€186 | +35.0% |
| Amounts payable | 17/49 | €24,737 | €63,717 | +€38,980 | +158% |
| Amounts payable within one year | 42/48 | €24,737 | €63,717 | +€38,980 | +158% |
| Trade debts | 44 | €3,241 | €3,388 | +€147 | +4.5% |
| Suppliers | 440/4 | €3,241 | €3,388 | +€147 | +4.5% |
| Advances received on contracts in progress | 46 | - | €22,076 | +€22,076 | |
| Taxes, remuneration and social security | 45 | €21,496 | €31,166 | +€9,670 | +45.0% |
| Taxes | 450/3 | €21,403 | €31,052 | +€9,649 | +45.1% |
| Remuneration and social security | 454/9 | €93 | €114 | +€21 | +22.5% |
| Other amounts payable | 47/48 | - | €7,087 | +€7,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,277 | €7,135 | +€1,858 | +35.2% |
| Other operating charges | 640/8 | €1,193 | €1,039 | -€154 | -12.9% |
| Gross operating margin | 9900 | €71,335 | €77,949 | +€6,614 | +9.3% |
| Operating profit (loss) | 9901 | €64,865 | €69,774 | +€4,909 | +7.6% |
| Financial income | 75/76B | €400 | €1,196 | +€796 | +199% |
| Recurring financial income | 75 | €400 | €1,196 | +€796 | +199% |
| Financial charges | 65/66B | €290 | €125 | -€165 | -56.9% |
| Recurring financial charges | 65 | €290 | €125 | -€165 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €64,975 | €70,845 | +€5,870 | +9.0% |
| Income taxes | 67/77 | €20,414 | €21,497 | +€1,083 | +5.3% |
| Profit (loss) for the period | 9904 | €44,561 | €49,348 | +€4,787 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,561 | €49,348 | +€4,787 | +10.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.