GRECON: 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.
GRECON
Largest movements
- Tangible fixed assets +€66,429
up €66,429 (+21.4%), from €310,697 to €377,126
of which Furniture and vehicles: +€76,331
- Receivables within one year +€9,414
up €9,414 (+15.7%), from €60,000 to €69,414
of which Trade receivables: +€21,355
- Cash +€7,927
up €7,927 (+69.7%), from €11,373 to €19,299
mainly Depreciation (+€38,698) and Debts after one year (+€31,422)
- Debts after one year +€31,422
up €31,422 (+18.4%), from €170,371 to €201,793
- Trade debts +€22,937
up €22,937 (+64392.3%), from €36 to €22,972
- Current portion of long-term debt +€22,773
up €22,773 (+105.1%), from €21,673 to €44,446
- Accrued charges and deferred income +€11,964
up €11,964 (+803.8%), from €1,488 to €13,452
- Depreciation +€20,223
up €20,223 (+109.5%), from €18,475 to €38,698
- Taxes -€10,465
down €10,465 (-50.0%), from €20,923 to €10,459
- Gross operating margin -€9,065
down €9,065 (-6.7%), from €134,499 to €125,434
- Staff costs +€3,044
up €3,044 (+7.1%), from €42,661 to €45,705
- Financial charges +€2,576
up €2,576 (+48.4%), from €5,318 to €7,894
of which Financial charges: +€2,011
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €455,088 | €539,751 | +€84,663 | +18.6% |
| Fixed assets | 21/28 | €380,697 | €447,126 | +€66,429 | +17.4% |
| Tangible fixed assets | 22/27 | €310,697 | €377,126 | +€66,429 | +21.4% |
| Land and buildings | 22 | €288,706 | €278,803 | -€9,903 | -3.4% |
| Furniture and vehicles | 24 | €21,948 | €98,279 | +€76,331 | +347.8% |
| Other tangible fixed assets | 26 | €43 | €43 | = | 0.0% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €74,391 | €92,626 | +€18,235 | +24.5% |
| Amounts receivable within one year | 40/41 | €60,000 | €69,414 | +€9,414 | +15.7% |
| Trade receivables | 40 | - | €21,355 | +€21,355 | |
| Other amounts receivable | 41 | €60,000 | €48,059 | -€11,941 | -19.9% |
| Cash at bank and in hand | 54/58 | €11,373 | €19,299 | +€7,927 | +69.7% |
| Deferred charges and accrued income | 490/1 | €3,018 | €3,912 | +€894 | +29.6% |
| Total equity and liabilities | 10/49 | €455,088 | €539,751 | +€84,663 | +18.6% |
| Equity | 10/15 | €229,502 | €225,009 | -€4,492 | -2.0% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €223,252 | €218,759 | -€4,492 | -2.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €221,392 | €218,759 | -€2,632 | -1.2% |
| Amounts payable | 17/49 | €225,586 | €314,742 | +€89,155 | +39.5% |
| Amounts payable after more than one year | 17 | €170,371 | €201,793 | +€31,422 | +18.4% |
| Financial debts | 170/4 | €170,371 | €201,793 | +€31,422 | +18.4% |
| Amounts payable within one year | 42/48 | €53,728 | €99,497 | +€45,769 | +85.2% |
| Current portion of amounts payable after more than one year | 42 | €21,673 | €44,446 | +€22,773 | +105.1% |
| Trade debts | 44 | €36 | €22,972 | +€22,937 | +64392.3% |
| Suppliers | 440/4 | €36 | €22,972 | +€22,937 | +64392.3% |
| Taxes, remuneration and social security | 45 | €32,019 | €32,079 | +€59 | +0.2% |
| Taxes | 450/3 | €20,947 | €20,968 | +€21 | +0.1% |
| Remuneration and social security | 454/9 | €11,072 | €11,111 | +€39 | +0.3% |
| Accrued charges and deferred income | 492/3 | €1,488 | €13,452 | +€11,964 | +803.8% |
| Remuneration, social security and pensions | 62 | €42,661 | €45,705 | +€3,044 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,475 | €38,698 | +€20,223 | +109.5% |
| Other operating charges | 640/8 | €1,968 | €2,340 | +€372 | +18.9% |
| Gross operating margin | 9900 | €134,499 | €125,434 | -€9,065 | -6.7% |
| Operating profit (loss) | 9901 | €71,395 | €38,692 | -€32,703 | -45.8% |
| Financial income | 75/76B | - | €169 | +€169 | |
| Recurring financial income | 75 | - | €169 | +€169 | |
| Financial charges | 65/66B | €5,318 | €7,894 | +€2,576 | +48.4% |
| Recurring financial charges | 65 | €5,318 | €7,329 | +€2,011 | +37.8% |
| Non-recurring financial charges | 66B | - | €564 | +€564 | |
| Profit (loss) for the period before taxes | 9903 | €66,077 | €30,967 | -€35,110 | -53.1% |
| Income taxes | 67/77 | €20,923 | €10,459 | -€10,465 | -50.0% |
| Profit (loss) for the period | 9904 | €45,153 | €20,508 | -€24,645 | -54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,153 | €20,508 | -€24,645 | -54.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.