GREBACO: 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.
GREBACO
Largest movements
- Tangible fixed assets -€30,654
down €30,654 (-4.3%), from €711,370 to €680,716
- Receivables within one year -€9,606
down €9,606 (-99.1%), from €9,697 to €91
of which Other amounts receivable: -€5,928
- Debts after one year -€28,776
down €28,776 (-7.5%), from €385,019 to €356,243
of which Financial debts: -€124,311
- Other debts -€8,900
down €8,900 (-3.8%), from €236,179 to €227,279
- Accrued charges and deferred income +€8,756
up €8,756 (+1167.5%), from €750 to €9,506
- Gross operating margin +€6,020
up €6,020 (+13.1%), from €45,973 to €51,993
- Other operating charges +€4,924
up €4,924 (+86.7%), from €5,679 to €10,603
- Financial charges +€3,600
up €3,600 (+36.9%), from €9,754 to €13,354
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 | €727,794 | €693,851 | -€33,943 | -4.7% |
| Fixed assets | 21/28 | €711,370 | €680,716 | -€30,654 | -4.3% |
| Tangible fixed assets | 22/27 | €711,370 | €680,716 | -€30,654 | -4.3% |
| Land and buildings | 22 | €711,370 | €680,716 | -€30,654 | -4.3% |
| Current assets | 29/58 | €16,423 | €13,135 | -€3,289 | -20.0% |
| Amounts receivable within one year | 40/41 | €9,697 | €91 | -€9,606 | -99.1% |
| Trade receivables | 40 | €3,697 | €19 | -€3,678 | -99.5% |
| Other amounts receivable | 41 | €6,000 | €72 | -€5,928 | -98.8% |
| Cash at bank and in hand | 54/58 | €4,916 | €7,813 | +€2,897 | +58.9% |
| Deferred charges and accrued income | 490/1 | €1,811 | €5,231 | +€3,420 | +188.8% |
| Total equity and liabilities | 10/49 | €727,794 | €693,851 | -€33,943 | -4.7% |
| Equity | 10/15 | €72,787 | €66,202 | -€6,584 | -9.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €40,306 | €40,306 | = | 0.0% |
| Distributable reserves | 133 | €40,306 | €40,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,019 | -€36,604 | -€6,584 | -21.9% |
| Amounts payable | 17/49 | €655,007 | €627,648 | -€27,359 | -4.2% |
| Amounts payable after more than one year | 17 | €385,019 | €356,243 | -€28,776 | -7.5% |
| Financial debts | 170/4 | €385,019 | €260,708 | -€124,311 | -32.3% |
| Other amounts payable | 178/9 | - | €95,536 | +€95,536 | |
| Amounts payable within one year | 42/48 | €269,238 | €261,899 | -€7,339 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €27,762 | €28,776 | +€1,013 | +3.6% |
| Financial debts | 43 | €1,000 | €0 | -€1,000 | -100.0% |
| Credit institutions | 430/8 | €1,000 | €0 | -€1,000 | -100.0% |
| Trade debts | 44 | €4,297 | €5,162 | +€866 | +20.1% |
| Suppliers | 440/4 | €4,297 | €5,162 | +€866 | +20.1% |
| Taxes, remuneration and social security | 45 | - | €681 | +€681 | |
| Taxes | 450/3 | - | €681 | +€681 | |
| Other amounts payable | 47/48 | €236,179 | €227,279 | -€8,900 | -3.8% |
| Accrued charges and deferred income | 492/3 | €750 | €9,506 | +€8,756 | +1167.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,475 | €34,620 | +€146 | +0.4% |
| Other operating charges | 640/8 | €5,679 | €10,603 | +€4,924 | +86.7% |
| Gross operating margin | 9900 | €45,973 | €51,993 | +€6,020 | +13.1% |
| Operating profit (loss) | 9901 | €5,819 | €6,770 | +€951 | +16.3% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €9,754 | €13,354 | +€3,600 | +36.9% |
| Recurring financial charges | 65 | €9,754 | €13,354 | +€3,600 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,933 | -€6,584 | -€2,651 | -67.4% |
| Profit (loss) for the period | 9904 | -€3,933 | -€6,584 | -€2,651 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,933 | -€6,584 | -€2,651 | -67.4% |
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 8 October 2026 via checked.be.