GREDAN: 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.
GREDAN
Largest movements
- Receivables within one year +€43,126
up €43,126 (+369.0%), from €11,687 to €54,813
- Tangible fixed assets -€2,287
down €2,287 (-3.3%), from €68,412 to €66,125
of which Furniture and vehicles: -€19,774
- Other debts +€36,005
up €36,005 (+176.1%), from €20,450 to €56,455
- Reserves +€14,831
new in 2026: €14,831
- Debts after one year -€14,816
down €14,816 (-56.6%), from €26,174 to €11,358
- Tax, wage and social debts +€2,541
up €2,541 (+15.9%), from €15,952 to €18,493
of which Taxes: +€2,291
- Trade debts +€2,044
up €2,044 (+702.4%), from €291 to €2,335
- Gross operating margin +€26,121
up €26,121 (+92.7%), from €28,180 to €54,301
- Turnover -€13,129
no longer reported in 2026 (was €13,129)
- Taxes +€7,277
up €7,277 (+89.2%), from €8,154 to €15,431
- Depreciation +€3,367
up €3,367 (+18.3%), from €18,397 to €21,764
- Other operating charges -€841
down €841 (-43.0%), from €1,957 to €1,116
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,623 | €121,958 | +€40,335 | +49.4% |
| Fixed assets | 21/28 | €68,412 | €66,125 | -€2,287 | -3.3% |
| Tangible fixed assets | 22/27 | €68,412 | €66,125 | -€2,287 | -3.3% |
| Furniture and vehicles | 24 | €68,412 | €48,638 | -€19,774 | -28.9% |
| Other tangible fixed assets | 26 | - | €17,487 | +€17,487 | |
| Current assets | 29/58 | €13,211 | €55,833 | +€42,622 | +322.6% |
| Amounts receivable within one year | 40/41 | €11,687 | €54,813 | +€43,126 | +369.0% |
| Trade receivables | 40 | €11,687 | €54,813 | +€43,126 | +369.0% |
| Cash at bank and in hand | 54/58 | €1,524 | €1,020 | -€504 | -33.1% |
| Total equity and liabilities | 10/49 | €81,623 | €121,958 | +€40,335 | +49.4% |
| Equity | 10/15 | €3,671 | €18,502 | +€14,831 | +404.0% |
| Reserves | 13 | - | €14,831 | +€14,831 | |
| Distributable reserves | 133 | - | €14,831 | +€14,831 | |
| Profit (loss) carried forward | 14 | €3,671 | €3,671 | = | 0.0% |
| Amounts payable | 17/49 | €77,952 | €103,456 | +€25,504 | +32.7% |
| Amounts payable after more than one year | 17 | €26,174 | €11,358 | -€14,816 | -56.6% |
| Financial debts | 170/4 | €26,174 | €11,358 | -€14,816 | -56.6% |
| Amounts payable within one year | 42/48 | €51,140 | €92,098 | +€40,958 | +80.1% |
| Current portion of amounts payable after more than one year | 42 | €14,447 | €14,815 | +€368 | +2.5% |
| Trade debts | 44 | €291 | €2,335 | +€2,044 | +702.4% |
| Suppliers | 440/4 | €291 | €2,335 | +€2,044 | +702.4% |
| Taxes, remuneration and social security | 45 | €15,952 | €18,493 | +€2,541 | +15.9% |
| Taxes | 450/3 | €14,702 | €16,993 | +€2,291 | +15.6% |
| Remuneration and social security | 454/9 | €1,250 | €1,500 | +€250 | +20.0% |
| Other amounts payable | 47/48 | €20,450 | €56,455 | +€36,005 | +176.1% |
| Accrued charges and deferred income | 492/3 | €638 | - | -€638 | |
| Turnover | 70 | €13,129 | - | -€13,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,397 | €21,764 | +€3,367 | +18.3% |
| Other operating charges | 640/8 | €1,957 | €1,116 | -€841 | -43.0% |
| Non-recurring operating charges | 66A | €437 | €236 | -€201 | -46.0% |
| Gross operating margin | 9900 | €28,180 | €54,301 | +€26,121 | +92.7% |
| Operating profit (loss) | 9901 | €7,389 | €31,185 | +€23,796 | +322.0% |
| Financial charges | 65/66B | €1,307 | €923 | -€384 | -29.4% |
| Recurring financial charges | 65 | €1,307 | €923 | -€384 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €6,082 | €30,262 | +€24,180 | +397.6% |
| Income taxes | 67/77 | €8,154 | €15,431 | +€7,277 | +89.2% |
| Profit (loss) for the period | 9904 | -€2,072 | €14,831 | +€16,903 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,072 | €14,831 | +€16,903 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.