GR SERVICE: what changed
What changed
GR SERVICE
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
€105,254
2024 · €245,408-€140,155
Equity
€633,963
2024 · €632,066+€1,897
Cash
€242,228
2024 · €293,718-€51,489
Balance sheet total
€2.6m
2024 · €2.3m+€276,277
Largest movements
Assets
- Receivables within one year +€277,393
up €277,393 (+48.8%), from €567,945 to €845,338
of which Trade receivables: +€313,815
- Stocks and contracts +€80,358
up €80,358 (+9.7%), from €825,759 to €906,117
of which Stocks: +€208,778
- Cash -€51,489
down €51,489 (-17.5%), from €293,718 to €242,228
mainly Receivables within one year (-€277,393) and Contributions, distributions and other (-€103,357)
- Tangible fixed assets -€33,972
down €33,972 (-5.8%), from €587,227 to €553,254
of which Land and buildings: -€28,807
Equity and liabilities
- Advances received +€284,197
new in 2025: €284,197
- Trade debts +€187,428
up €187,428 (+32.9%), from €570,044 to €757,472
- Tax, wage and social debts -€88,938
down €88,938 (-41.2%), from €215,665 to €126,727
of which Taxes: -€114,908
- Other debts -€50,054
down €50,054 (-24.8%), from €202,132 to €152,077
- Debts after one year -€37,752
down €37,752 (-13.9%), from €271,248 to €233,496
Income statement
- Gross operating margin -€188,048
down €188,048 (-20.5%), from €918,224 to €730,176
- Taxes -€49,420
down €49,420 (-54.2%), from €91,263 to €41,843
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€245,408
Gross operating margin
-€188,048
Staff costs
-€5,435
Depreciation
+€3,234
Other operating charges
-€5,218
Financial income
+€807
Financial charges
+€5,086
Taxes
+€49,420
Result 2025
€105,254
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€150,439
Investment
-€47,343
Financing
-€154,586
Cash 2024
€293,718
From operations (derived)
+€150,439
Net result for the year
+€105,254
Depreciation
+€81,450
Stocks and contracts
-€80,358
Receivables within one year
-€277,393
Deferred charges and accrued income
-€4,123
Trade debts
+€187,428
Tax, wage and social debts
-€88,938
Advances received
+€284,197
Other debts
-€50,054
Accrued charges and deferred income
-€7,024
Investment (derived)
-€47,343
Investment in fixed assets (net)
-€47,343
Financing
-€154,586
Debts after one year
-€37,752
Current portion of long-term debt
-€13,477
Contributions, distributions and other
-€103,357
Cash 2025
€242,228
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,315,818 | €2,592,095 | +€276,277 | +11.9% |
| Fixed assets | 21/28 | €606,255 | €572,147 | -€34,107 | -5.6% |
| Tangible fixed assets | 22/27 | €587,227 | €553,254 | -€33,972 | -5.8% |
| Land and buildings | 22 | €455,070 | €426,263 | -€28,807 | -6.3% |
| Plant, machinery and equipment | 23 | €67,355 | €51,295 | -€16,060 | -23.8% |
| Furniture and vehicles | 24 | €64,801 | €75,696 | +€10,895 | +16.8% |
| Financial fixed assets | 28 | €19,028 | €18,893 | -€135 | -0.7% |
| Current assets | 29/58 | €1,709,563 | €2,019,948 | +€310,384 | +18.2% |
| Stocks and contracts in progress | 3 | €825,759 | €906,117 | +€80,358 | +9.7% |
| Stocks | 30/36 | €633,759 | €842,538 | +€208,778 | +32.9% |
| Contracts in progress | 37 | €192,000 | €63,580 | -€128,420 | -66.9% |
| Amounts receivable within one year | 40/41 | €567,945 | €845,338 | +€277,393 | +48.8% |
| Trade receivables | 40 | €469,741 | €783,555 | +€313,815 | +66.8% |
| Other amounts receivable | 41 | €98,204 | €61,783 | -€36,422 | -37.1% |
| Cash at bank and in hand | 54/58 | €293,718 | €242,228 | -€51,489 | -17.5% |
| Deferred charges and accrued income | 490/1 | €22,141 | €26,264 | +€4,123 | +18.6% |
| Total equity and liabilities | 10/49 | €2,315,818 | €2,592,095 | +€276,277 | +11.9% |
| Equity | 10/15 | €632,066 | €633,963 | +€1,897 | +0.3% |
| Contributions | 10/11 | €133,100 | €133,100 | = | 0.0% |
| Reserves | 13 | €10,429 | €10,429 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,100 | €9,100 | = | 0.0% |
| Distributable reserves | 133 | €1,329 | €1,329 | = | 0.0% |
| Profit (loss) carried forward | 14 | €476,776 | €477,780 | +€1,004 | +0.2% |
| Investment grants | 15 | €11,760 | €12,653 | +€893 | +7.6% |
| Provisions and deferred taxes | 16 | €126,193 | €126,193 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €126,193 | €126,193 | = | 0.0% |
| Other liabilities and charges | 164/5 | €126,193 | €126,193 | = | 0.0% |
| Amounts payable | 17/49 | €1,557,559 | €1,831,939 | +€274,380 | +17.6% |
| Amounts payable after more than one year | 17 | €271,248 | €233,496 | -€37,752 | -13.9% |
| Financial debts | 170/4 | €271,248 | €233,496 | -€37,752 | -13.9% |
| Amounts payable within one year | 42/48 | €1,239,069 | €1,558,225 | +€319,156 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €51,229 | €37,752 | -€13,477 | -26.3% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €570,044 | €757,472 | +€187,428 | +32.9% |
| Suppliers | 440/4 | €570,044 | €757,472 | +€187,428 | +32.9% |
| Advances received on contracts in progress | 46 | - | €284,197 | +€284,197 | |
| Taxes, remuneration and social security | 45 | €215,665 | €126,727 | -€88,938 | -41.2% |
| Taxes | 450/3 | €166,760 | €51,852 | -€114,908 | -68.9% |
| Remuneration and social security | 454/9 | €48,905 | €74,875 | +€25,970 | +53.1% |
| Other amounts payable | 47/48 | €202,132 | €152,077 | -€50,054 | -24.8% |
| Accrued charges and deferred income | 492/3 | €47,242 | €40,219 | -€7,024 | -14.9% |
| Non-recurring operating income | 76A | €4,086 | €3,658 | -€428 | -10.5% |
| Remuneration, social security and pensions | 62 | €473,589 | €479,024 | +€5,435 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,684 | €81,450 | -€3,234 | -3.8% |
| Other operating charges | 640/8 | €6,698 | €11,916 | +€5,218 | +77.9% |
| Gross operating margin | 9900 | €918,224 | €730,176 | -€188,048 | -20.5% |
| Operating profit (loss) | 9901 | €353,253 | €157,786 | -€195,467 | -55.3% |
| Financial income | 75/76B | €7,476 | €8,283 | +€807 | +10.8% |
| Recurring financial income | 75 | €7,476 | €8,283 | +€807 | +10.8% |
| Financial charges | 65/66B | €24,058 | €18,972 | -€5,086 | -21.1% |
| Recurring financial charges | 65 | €20,935 | €18,972 | -€1,963 | -9.4% |
| Non-recurring financial charges | 66B | €3,123 | - | -€3,123 | |
| Profit (loss) for the period before taxes | 9903 | €336,671 | €147,096 | -€189,575 | -56.3% |
| Income taxes | 67/77 | €91,263 | €41,843 | -€49,420 | -54.2% |
| Profit (loss) for the period | 9904 | €245,408 | €105,254 | -€140,155 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €245,408 | €105,254 | -€140,155 | -57.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.