GRECHA: 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.
GRECHA
Largest movements
- Tangible fixed assets +€19,856
up €19,856 (+5.2%), from €381,802 to €401,658
- Cash +€7,039
up €7,039 (+9.1%), from €77,148 to €84,187
mainly Depreciation (+€32,804) and Current portion of long-term debt (+€11,785)
- Current portion of long-term debt +€11,785
up €11,785 (+36.8%), from €32,013 to €43,798
- Debts after one year +€10,960
up €10,960 (+3.8%), from €291,204 to €302,164
- Gross operating margin +€9,077
up €9,077 (+21.2%), from €42,879 to €51,957
- Other operating charges +€3,489
up €3,489 (+77.4%), from €4,510 to €7,999
- Depreciation -€2,928
down €2,928 (-8.2%), from €35,732 to €32,804
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.
Derived cash bridge
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 | €458,950 | €485,863 | +€26,913 | +5.9% |
| Fixed assets | 21/28 | €381,802 | €401,658 | +€19,856 | +5.2% |
| Tangible fixed assets | 22/27 | €381,802 | €401,658 | +€19,856 | +5.2% |
| Land and buildings | 22 | €381,802 | €401,658 | +€19,856 | +5.2% |
| Current assets | 29/58 | €77,148 | €84,205 | +€7,057 | +9.1% |
| Amounts receivable within one year | 40/41 | - | €18 | +€18 | |
| Other amounts receivable | 41 | - | €18 | +€18 | |
| Cash at bank and in hand | 54/58 | €77,148 | €84,187 | +€7,039 | +9.1% |
| Total equity and liabilities | 10/49 | €458,950 | €485,863 | +€26,913 | +5.9% |
| Equity | 10/15 | €129,080 | €130,242 | +€1,162 | +0.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €54,080 | €55,242 | +€1,162 | +2.1% |
| Distributable reserves | 133 | €54,080 | €55,242 | +€1,162 | +2.1% |
| Amounts payable | 17/49 | €329,870 | €355,621 | +€25,751 | +7.8% |
| Amounts payable after more than one year | 17 | €291,204 | €302,164 | +€10,960 | +3.8% |
| Financial debts | 170/4 | €291,204 | €302,164 | +€10,960 | +3.8% |
| Amounts payable within one year | 42/48 | €34,105 | €48,896 | +€14,791 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | €32,013 | €43,798 | +€11,785 | +36.8% |
| Taxes, remuneration and social security | 45 | €1,668 | €5,098 | +€3,430 | +206% |
| Taxes | 450/3 | €1,668 | €5,098 | +€3,430 | +206% |
| Other amounts payable | 47/48 | €423 | - | -€423 | |
| Accrued charges and deferred income | 492/3 | €4,561 | €4,561 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,732 | €32,804 | -€2,928 | -8.2% |
| Other operating charges | 640/8 | €4,510 | €7,999 | +€3,489 | +77.4% |
| Gross operating margin | 9900 | €42,879 | €51,957 | +€9,077 | +21.2% |
| Operating profit (loss) | 9901 | €2,637 | €11,154 | +€8,517 | +323% |
| Financial charges | 65/66B | €10,366 | €9,993 | -€373 | -3.6% |
| Recurring financial charges | 65 | €10,366 | €9,993 | -€373 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,729 | €1,162 | +€8,890 | |
| Profit (loss) for the period | 9904 | -€7,729 | €1,162 | +€8,890 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,729 | €1,162 | +€8,890 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.