GRECO: 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.
GRECO
Largest movements
- Receivables within one year +€154,424
up €154,424 (+72.0%), from €214,606 to €369,029
of which Other amounts receivable: +€328,729
- Tangible fixed assets +€45,625
up €45,625 (+2.8%), from €1.6m to €1.7m
of which Assets under construction and advance payments: +€45,625
- Cash +€38,672
up €38,672 (+14165.9%), from €273 to €38,945
mainly Debts after one year (+€140,000) and Other debts (+€138,297)
- Debts after one year +€140,000
up €140,000 (+11.7%), from €1.2m to €1.3m
- Other debts +€138,297
up €138,297 (+21.8%), from €634,676 to €772,973
- Profit (loss) carried forward -€37,851
down €37,851 (-31.3%), from -€121,023 to -€158,874
- Gross operating margin -€14,276
down €14,276 (-210.8%), from -€6,771 to -€21,047
- Financial charges +€11,838
up €11,838 (+22353.6%), from €53 to €11,891
- Other operating charges +€713
up €713 (+17.0%), from €4,200 to €4,913
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 | €1,856,061 | €2,094,782 | +€238,721 | +12.9% |
| Fixed assets | 21/28 | €1,641,182 | €1,686,808 | +€45,625 | +2.8% |
| Tangible fixed assets | 22/27 | €1,641,182 | €1,686,808 | +€45,625 | +2.8% |
| Land and buildings | 22 | €9,065 | €9,065 | = | 0.0% |
| Assets under construction and advance payments | 27 | €1,632,117 | €1,677,742 | +€45,625 | +2.8% |
| Current assets | 29/58 | €214,879 | €407,974 | +€193,096 | +89.9% |
| Amounts receivable within one year | 40/41 | €214,606 | €369,029 | +€154,424 | +72.0% |
| Trade receivables | 40 | €174,306 | €0 | -€174,306 | -100.0% |
| Other amounts receivable | 41 | €40,300 | €369,029 | +€328,729 | +815.7% |
| Cash at bank and in hand | 54/58 | €273 | €38,945 | +€38,672 | +14165.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,856,061 | €2,094,782 | +€238,721 | +12.9% |
| Equity | 10/15 | €12,076 | -€25,775 | -€37,851 | |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,023 | -€158,874 | -€37,851 | -31.3% |
| Amounts payable | 17/49 | €1,843,985 | €2,120,557 | +€276,572 | +15.0% |
| Amounts payable after more than one year | 17 | €1,200,000 | €1,340,000 | +€140,000 | +11.7% |
| Financial debts | 170/4 | €1,200,000 | €1,340,000 | +€140,000 | +11.7% |
| Amounts payable within one year | 42/48 | €643,985 | €780,557 | +€136,572 | +21.2% |
| Trade debts | 44 | €9,309 | €7,482 | -€1,827 | -19.6% |
| Suppliers | 440/4 | €9,309 | €7,482 | -€1,827 | -19.6% |
| Taxes, remuneration and social security | 45 | - | €101 | +€101 | |
| Taxes | 450/3 | - | €101 | +€101 | |
| Other amounts payable | 47/48 | €634,676 | €772,973 | +€138,297 | +21.8% |
| Other operating charges | 640/8 | €4,200 | €4,913 | +€713 | +17.0% |
| Gross operating margin | 9900 | -€6,771 | -€21,047 | -€14,276 | -210.8% |
| Operating profit (loss) | 9901 | -€10,971 | -€25,960 | -€14,988 | -136.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €53 | €11,891 | +€11,838 | +22353.6% |
| Recurring financial charges | 65 | €53 | €11,891 | +€11,838 | +22353.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,024 | -€37,851 | -€26,826 | -243.3% |
| Profit (loss) for the period | 9904 | -€11,024 | -€37,851 | -€26,826 | -243.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,024 | -€37,851 | -€26,826 | -243.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.