GRECO-VERHULST: what changed
What changed
GRECO-VERHULST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€558,441
2024 · €108,103+€450,337
Equity
€781,683
2024 · €223,242+€558,441
Cash
€63,844
2024 · €58,485+€5,359
Balance sheet total
€923,578
2024 · €433,083+€490,495
Largest movements
Assets
- Receivables within one year +€732,230
new in 2025: €732,230
- Financial fixed assets -€270,000
down €270,000 (-100%), from €270,000 to €0
- Tangible fixed assets +€24,283
up €24,283 (+24.9%), from €97,464 to €121,747
of which Land and buildings: +€29,733
Equity and liabilities
- Profit (loss) carried forward +€558,441
up €558,441 (+329%), from €169,905 to €728,346
- Other debts -€89,956
down €89,956 (-69.9%), from €128,767 to €38,811
- Debts after one year +€16,414
up €16,414 (+24.7%), from €66,342 to €82,756
Income statement
- Financial income +€462,218
up €462,218 (+578%), from €80,012 to €542,230
of which Non-recurring financial income: +€450,000
- Gross operating margin -€14,794
down €14,794 (-26.6%), from €55,662 to €40,868
- Financial charges -€1,301
down €1,301 (-39.4%), from €3,300 to €1,999
- Depreciation -€1,102
down €1,102 (-8.0%), from €13,766 to €12,664
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€108,103
Gross operating margin
-€14,794
Depreciation
+€1,102
Other operating charges
-€16
Financial income
+€462,218
Financial charges
+€1,301
Taxes
+€527
Result 2025
€558,441
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€250,217
Investment
+€233,053
Financing
+€22,523
Cash 2024
€58,485
From operations (derived)
-€250,217
Net result for the year
+€558,441
Depreciation
+€12,664
Receivables within one year
-€732,230
Smaller working-capital items
+€864
Other debts
-€89,956
Investment (derived)
+€233,053
Investment in fixed assets (net)
+€233,053
Financing
+€22,523
Debts after one year
+€16,414
Current portion of long-term debt
+€6,110
Cash 2025
€63,844
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €433,083 | €923,578 | +€490,495 | +113% |
| Fixed assets | 21/28 | €367,464 | €121,747 | -€245,717 | -66.9% |
| Tangible fixed assets | 22/27 | €97,464 | €121,747 | +€24,283 | +24.9% |
| Land and buildings | 22 | €77,898 | €107,632 | +€29,733 | +38.2% |
| Plant, machinery and equipment | 23 | €3,988 | €2,649 | -€1,339 | -33.6% |
| Furniture and vehicles | 24 | €4,484 | €2,033 | -€2,452 | -54.7% |
| Other tangible fixed assets | 26 | €11,093 | €9,434 | -€1,659 | -15.0% |
| Financial fixed assets | 28 | €270,000 | €0 | -€270,000 | -100% |
| Current assets | 29/58 | €65,619 | €801,831 | +€736,212 | +1,122% |
| Amounts receivable within one year | 40/41 | - | €732,230 | +€732,230 | |
| Other amounts receivable | 41 | - | €732,230 | +€732,230 | |
| Cash at bank and in hand | 54/58 | €58,485 | €63,844 | +€5,359 | +9.2% |
| Deferred charges and accrued income | 490/1 | €7,134 | €5,757 | -€1,377 | -19.3% |
| Total equity and liabilities | 10/49 | €433,083 | €923,578 | +€490,495 | +113% |
| Equity | 10/15 | €223,242 | €781,683 | +€558,441 | +250% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,138 | €47,138 | = | 0.0% |
| Distributable reserves | 133 | €47,138 | €47,138 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,905 | €728,346 | +€558,441 | +329% |
| Amounts payable | 17/49 | €209,841 | €141,895 | -€67,946 | -32.4% |
| Amounts payable after more than one year | 17 | €66,342 | €82,756 | +€16,414 | +24.7% |
| Financial debts | 170/4 | €66,342 | €82,756 | +€16,414 | +24.7% |
| Amounts payable within one year | 42/48 | €143,499 | €59,139 | -€84,360 | -58.8% |
| Current portion of amounts payable after more than one year | 42 | €10,505 | €16,615 | +€6,110 | +58.2% |
| Taxes, remuneration and social security | 45 | €4,227 | €3,713 | -€513 | -12.1% |
| Taxes | 450/3 | €4,227 | €3,713 | -€513 | -12.1% |
| Other amounts payable | 47/48 | €128,767 | €38,811 | -€89,956 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,766 | €12,664 | -€1,102 | -8.0% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €55,662 | €40,868 | -€14,794 | -26.6% |
| Operating profit (loss) | 9901 | €41,327 | €27,619 | -€13,708 | -33.2% |
| Financial income | 75/76B | €80,012 | €542,230 | +€462,218 | +578% |
| Recurring financial income | 75 | €80,012 | €92,230 | +€12,218 | +15.3% |
| Non-recurring financial income | 76B | - | €450,000 | +€450,000 | |
| Financial charges | 65/66B | €3,300 | €1,999 | -€1,301 | -39.4% |
| Recurring financial charges | 65 | €3,300 | €1,999 | -€1,301 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €118,039 | €567,850 | +€449,811 | +381% |
| Income taxes | 67/77 | €9,936 | €9,409 | -€527 | -5.3% |
| Profit (loss) for the period | 9904 | €108,103 | €558,441 | +€450,337 | +417% |
| Profit (loss) for the period to be appropriated | 9905 | €108,103 | €558,441 | +€450,337 | +417% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.