GREAT: what changed
Two fiscal 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.
GREAT
Largest movements
- Cash +€920,102
up €920,102 (+1286.6%), from €71,515 to €991,617
mainly Contributions, distributions and other (+€800,000) and Debts after one year (+€200,000)
- Receivables within one year +€273,035
up €273,035 (+37.7%), from €725,021 to €998,056
of which Trade receivables: +€279,966
- Contributions +€800,000
up €800,000 (+4210.5%), from €19,000 to €819,000
- Debts after one year +€200,000
new in 2025: €200,000
- Trade debts +€164,196
up €164,196 (+85.3%), from €192,464 to €356,660
- Gross operating margin +€65,263
up €65,263 (+12.2%), from €535,917 to €601,180
- Staff costs +€20,474
up €20,474 (+3.8%), from €536,953 to €557,428
- Depreciation +€7,841
up €7,841 (+104.5%), from €7,502 to €15,343
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 | €855,913 | €2,016,866 | +€1.2m | +135.6% |
| Fixed assets | 21/28 | €34,049 | €18,706 | -€15,343 | -45.1% |
| Tangible fixed assets | 22/27 | €34,049 | €18,706 | -€15,343 | -45.1% |
| Furniture and vehicles | 24 | €34,049 | €18,706 | -€15,343 | -45.1% |
| Current assets | 29/58 | €821,865 | €1,998,160 | +€1.2m | +143.1% |
| Amounts receivable within one year | 40/41 | €725,021 | €998,056 | +€273,035 | +37.7% |
| Trade receivables | 40 | €709,202 | €989,169 | +€279,966 | +39.5% |
| Other amounts receivable | 41 | €15,819 | €8,887 | -€6,932 | -43.8% |
| Cash at bank and in hand | 54/58 | €71,515 | €991,617 | +€920,102 | +1286.6% |
| Deferred charges and accrued income | 490/1 | €25,329 | €8,488 | -€16,841 | -66.5% |
| Total equity and liabilities | 10/49 | €855,913 | €2,016,866 | +€1.2m | +135.6% |
| Equity | 10/15 | -€659,548 | €134,504 | +€794,052 | |
| Contributions | 10/11 | €19,000 | €819,000 | +€800,000 | +4210.5% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €0 | -€1,900 | -100.0% |
| Reserves not available under the articles | 1311 | €1,900 | €0 | -€1,900 | -100.0% |
| Distributable reserves | 133 | - | €1,900 | +€1,900 | |
| Profit (loss) carried forward | 14 | -€680,448 | -€686,396 | -€5,948 | -0.9% |
| Amounts payable | 17/49 | €1,515,462 | €1,882,362 | +€366,901 | +24.2% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Other amounts payable | 178/9 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €1,514,501 | €1,681,395 | +€166,893 | +11.0% |
| Trade debts | 44 | €192,464 | €356,660 | +€164,196 | +85.3% |
| Suppliers | 440/4 | €192,464 | €356,660 | +€164,196 | +85.3% |
| Taxes, remuneration and social security | 45 | €85,143 | €93,402 | +€8,260 | +9.7% |
| Taxes | 450/3 | €26,401 | €25,900 | -€501 | -1.9% |
| Remuneration and social security | 454/9 | €58,742 | €67,502 | +€8,761 | +14.9% |
| Other amounts payable | 47/48 | €1,236,895 | €1,231,332 | -€5,562 | -0.4% |
| Accrued charges and deferred income | 492/3 | €960 | €968 | +€7 | +0.8% |
| Remuneration, social security and pensions | 62 | €536,953 | €557,428 | +€20,474 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,502 | €15,343 | +€7,841 | +104.5% |
| Other operating charges | 640/8 | €5,016 | €3,384 | -€1,632 | -32.5% |
| Gross operating margin | 9900 | €535,917 | €601,180 | +€65,263 | +12.2% |
| Operating profit (loss) | 9901 | -€13,555 | €25,026 | +€38,580 | |
| Financial income | 75/76B | €3,077 | €1,286 | -€1,791 | -58.2% |
| Recurring financial income | 75 | €3,077 | €1,286 | -€1,791 | -58.2% |
| Financial charges | 65/66B | €28,790 | €31,860 | +€3,071 | +10.7% |
| Recurring financial charges | 65 | €28,790 | €31,860 | +€3,071 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | -€39,267 | -€5,549 | +€33,718 | +85.9% |
| Income taxes | 67/77 | €523 | €400 | -€124 | -23.6% |
| Profit (loss) for the period | 9904 | -€39,790 | -€5,948 | +€33,842 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,790 | -€5,948 | +€33,842 | +85.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.