GREBANE: 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.
GREBANE
Largest movements
- Receivables within one year +€29,987
up €29,987 (+122.0%), from €24,574 to €54,562
of which Other amounts receivable: +€30,773
- Tangible fixed assets -€22,258
down €22,258 (-19.3%), from €115,231 to €92,973
of which Other tangible fixed assets: -€29,815
- Intangible fixed assets -€10,378
down €10,378 (-85.7%), from €12,108 to €1,730
- Profit (loss) carried forward -€77,511
down €77,511 (-534.4%), from -€14,505 to -€92,016
- Trade debts +€64,068
up €64,068 (+31.0%), from €206,488 to €270,555
- Other debts +€16,642
up €16,642 (+94.9%), from €17,529 to €34,171
- Short-term financial debts -€8,000
down €8,000 (-39.0%), from €20,500 to €12,500
- Current portion of long-term debt +€4,442
new in 2025: €4,442
- Staff costs +€85,918
up €85,918 (+42.5%), from €201,943 to €287,861
- Gross operating margin +€46,901
up €46,901 (+20.0%), from €234,794 to €281,695
- Financial charges -€31,037
down €31,037 (-79.3%), from €39,127 to €8,090
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 | €283,094 | €282,476 | -€617 | -0.2% |
| Fixed assets | 21/28 | €132,483 | €99,847 | -€32,636 | -24.6% |
| Intangible fixed assets | 21 | €12,108 | €1,730 | -€10,378 | -85.7% |
| Tangible fixed assets | 22/27 | €115,231 | €92,973 | -€22,258 | -19.3% |
| Plant, machinery and equipment | 23 | €21,212 | €19,989 | -€1,223 | -5.8% |
| Furniture and vehicles | 24 | €11,770 | €20,550 | +€8,780 | +74.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €82,250 | €52,435 | -€29,815 | -36.2% |
| Financial fixed assets | 28 | €5,144 | €5,144 | = | 0.0% |
| Current assets | 29/58 | €150,611 | €182,629 | +€32,019 | +21.3% |
| Stocks and contracts in progress | 3 | €95,423 | €96,178 | +€755 | +0.8% |
| Stocks | 30/36 | €95,423 | €96,178 | +€755 | +0.8% |
| Amounts receivable within one year | 40/41 | €24,574 | €54,562 | +€29,987 | +122.0% |
| Trade receivables | 40 | €6,300 | €5,515 | -€785 | -12.5% |
| Other amounts receivable | 41 | €18,274 | €49,047 | +€30,773 | +168.4% |
| Cash at bank and in hand | 54/58 | €30,613 | €29,731 | -€882 | -2.9% |
| Deferred charges and accrued income | 490/1 | - | €2,158 | +€2,158 | |
| Total equity and liabilities | 10/49 | €283,094 | €282,476 | -€617 | -0.2% |
| Equity | 10/15 | €25,495 | -€52,016 | -€77,511 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,505 | -€92,016 | -€77,511 | -534.4% |
| Amounts payable | 17/49 | €257,599 | €334,492 | +€76,894 | +29.9% |
| Amounts payable after more than one year | 17 | - | €3,439 | +€3,439 | |
| Financial debts | 170/4 | - | €3,439 | +€3,439 | |
| Amounts payable within one year | 42/48 | €257,599 | €331,054 | +€73,455 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,442 | +€4,442 | |
| Financial debts | 43 | €20,500 | €12,500 | -€8,000 | -39.0% |
| Credit institutions | 430/8 | €20,500 | €12,500 | -€8,000 | -39.0% |
| Trade debts | 44 | €206,488 | €270,555 | +€64,068 | +31.0% |
| Suppliers | 440/4 | €206,488 | €270,555 | +€64,068 | +31.0% |
| Taxes, remuneration and social security | 45 | €13,082 | €9,385 | -€3,697 | -28.3% |
| Taxes | 450/3 | €1,516 | €2,001 | +€485 | +32.0% |
| Remuneration and social security | 454/9 | €11,566 | €7,384 | -€4,182 | -36.2% |
| Other amounts payable | 47/48 | €17,529 | €34,171 | +€16,642 | +94.9% |
| Remuneration, social security and pensions | 62 | €201,943 | €287,861 | +€85,918 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,312 | €61,497 | +€2,185 | +3.7% |
| Other operating charges | 640/8 | €240 | €2,971 | +€2,731 | +1138.0% |
| Non-recurring operating charges | 66A | €13,959 | €0 | -€13,959 | -100.0% |
| Gross operating margin | 9900 | €234,794 | €281,695 | +€46,901 | +20.0% |
| Operating profit (loss) | 9901 | -€40,659 | -€70,634 | -€29,974 | -73.7% |
| Financial income | 75/76B | €241 | €1,249 | +€1,008 | +419.1% |
| Recurring financial income | 75 | €241 | €1,249 | +€1,008 | +419.1% |
| Financial charges | 65/66B | €39,127 | €8,090 | -€31,037 | -79.3% |
| Recurring financial charges | 65 | €39,127 | €8,090 | -€31,037 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | -€79,545 | -€77,474 | +€2,071 | +2.6% |
| Income taxes | 67/77 | €662 | €37 | -€625 | -94.5% |
| Profit (loss) for the period | 9904 | -€80,207 | -€77,511 | +€2,696 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,207 | -€77,511 | +€2,696 | +3.4% |
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 6 October 2026 via checked.be.