GRECO PALACE: 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.
GRECO PALACE
Largest movements
- Cash +€552,399
up €552,399 (+127%), from €433,764 to €986,163
mainly Net result for the year (+€448,225) and Stocks and contracts (+€79,102)
- Tangible fixed assets -€161,762
down €161,762 (-31.1%), from €520,038 to €358,277
of which Assets under construction and advance payments: -€91,304
- Stocks and contracts -€79,102
down €79,102 (-88.5%), from €89,361 to €10,259
- Receivables within one year -€27,155
down €27,155 (-78.2%), from €34,708 to €7,552
- Reserves +€448,225
up €448,225 (+72.6%), from €617,239 to €1.1m
of which Distributable reserves: +€455,468
- Tax, wage and social debts -€77,850
down €77,850 (-74.0%), from €105,148 to €27,299
of which Taxes: -€75,989
- Trade debts -€37,820
down €37,820 (-68.7%), from €55,014 to €17,194
- Debts after one year -€25,232
down €25,232 (-42.6%), from €59,249 to €34,016
- Gross operating margin +€678,853
up €678,853 (+752%), from €90,304 to €769,157
- Taxes +€205,827
up €205,827 (+4,535%), from €4,538 to €210,365
- Financial charges -€7,999
down €7,999 (-44.9%), from €17,812 to €9,813
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 | €1,079,865 | €1,380,109 | +€300,244 | +27.8% |
| Fixed assets | 21/28 | €520,246 | €374,440 | -€145,807 | -28.0% |
| Intangible fixed assets | 21 | €0 | €13,159 | +€13,159 | |
| Tangible fixed assets | 22/27 | €520,038 | €358,277 | -€161,762 | -31.1% |
| Land and buildings | 22 | €229,269 | €206,544 | -€22,725 | -9.9% |
| Plant, machinery and equipment | 23 | €60,123 | €42,900 | -€17,223 | -28.6% |
| Furniture and vehicles | 24 | €77,393 | €57,419 | -€19,974 | -25.8% |
| Other tangible fixed assets | 26 | €31,515 | €20,980 | -€10,536 | -33.4% |
| Assets under construction and advance payments | 27 | €121,738 | €30,435 | -€91,304 | -75.0% |
| Financial fixed assets | 28 | €208 | €3,004 | +€2,796 | +1,344% |
| Current assets | 29/58 | €559,618 | €1,005,669 | +€446,051 | +79.7% |
| Stocks and contracts in progress | 3 | €89,361 | €10,259 | -€79,102 | -88.5% |
| Stocks | 30/36 | €89,361 | €10,259 | -€79,102 | -88.5% |
| Amounts receivable within one year | 40/41 | €34,708 | €7,552 | -€27,155 | -78.2% |
| Trade receivables | 40 | €34,708 | €7,552 | -€27,155 | -78.2% |
| Cash at bank and in hand | 54/58 | €433,764 | €986,163 | +€552,399 | +127% |
| Deferred charges and accrued income | 490/1 | €1,786 | €1,695 | -€91 | -5.1% |
| Total equity and liabilities | 10/49 | €1,079,865 | €1,380,109 | +€300,244 | +27.8% |
| Equity | 10/15 | €759,057 | €1,207,282 | +€448,225 | +59.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,592 | +€18,592 | |
| Other | 1109/19 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €617,239 | €1,065,464 | +€448,225 | +72.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €133,667 | €126,424 | -€7,243 | -5.4% |
| Distributable reserves | 133 | €481,712 | €937,180 | +€455,468 | +94.6% |
| Profit (loss) carried forward | 14 | €123,226 | €123,226 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €68,828 | €65,098 | -€3,730 | -5.4% |
| Deferred taxes | 168 | €68,828 | €65,098 | -€3,730 | -5.4% |
| Amounts payable | 17/49 | €251,980 | €107,729 | -€144,251 | -57.2% |
| Amounts payable after more than one year | 17 | €59,249 | €34,016 | -€25,232 | -42.6% |
| Financial debts | 170/4 | €59,249 | €34,016 | -€25,232 | -42.6% |
| Amounts payable within one year | 42/48 | €192,731 | €73,713 | -€119,019 | -61.8% |
| Current portion of amounts payable after more than one year | 42 | €24,653 | €25,232 | +€579 | +2.3% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €55,014 | €17,194 | -€37,820 | -68.7% |
| Suppliers | 440/4 | €55,014 | €17,194 | -€37,820 | -68.7% |
| Taxes, remuneration and social security | 45 | €105,148 | €27,299 | -€77,850 | -74.0% |
| Taxes | 450/3 | €92,210 | €16,221 | -€75,989 | -82.4% |
| Remuneration and social security | 454/9 | €12,939 | €11,078 | -€1,861 | -14.4% |
| Other amounts payable | 47/48 | €7,916 | €3,987 | -€3,929 | -49.6% |
| Non-recurring operating income | 76A | - | €709,709 | +€709,709 | |
| Remuneration, social security and pensions | 62 | €34,785 | €36,662 | +€1,878 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,977 | €67,423 | +€2,445 | +3.8% |
| Other operating charges | 640/8 | €3,736 | €2,377 | -€1,358 | -36.4% |
| Gross operating margin | 9900 | €90,304 | €769,157 | +€678,853 | +752% |
| Operating profit (loss) | 9901 | -€13,194 | €662,695 | +€675,888 | |
| Financial income | 75/76B | €2,453 | €1,979 | -€474 | -19.3% |
| Recurring financial income | 75 | €2,453 | €1,979 | -€474 | -19.3% |
| Financial charges | 65/66B | €17,812 | €9,813 | -€7,999 | -44.9% |
| Recurring financial charges | 65 | €17,812 | €9,813 | -€7,999 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,552 | €654,861 | +€683,413 | |
| Transfer from deferred taxes | 780 | €3,730 | €3,730 | = | 0.0% |
| Income taxes | 67/77 | €4,538 | €210,365 | +€205,827 | +4,535% |
| Profit (loss) for the period | 9904 | -€29,361 | €448,225 | +€477,586 | |
| Transfer from tax-exempt reserves | 789 | €7,243 | €7,243 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,118 | €455,468 | +€477,586 |
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 27 October 2026 via checked.be.