GREDEVCO: 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.
GREDEVCO
Largest movements
- Cash +€27,163
up €27,163 (+632%), from €4,301 to €31,464
mainly Receivables within one year (+€20,910) and Depreciation (+€12,937)
- Receivables within one year -€20,910
no longer reported in 2025 (was €20,910)
of which Trade receivables: -€13,582
- Tangible fixed assets -€12,980
down €12,980 (-27.1%), from €47,916 to €34,937
of which Furniture and vehicles: -€12,680
- Debts after one year -€9,996
down €9,996 (-32.8%), from €30,443 to €20,448
- Reserves +€4,331
up €4,331 (+26.4%), from €16,398 to €20,729
- Other debts -€1,249
down €1,249 (-14.6%), from €8,550 to €7,301
- Gross operating margin +€7,580
up €7,580 (+18.3%), from €41,311 to €48,891
- Depreciation -€6,973
down €6,973 (-35.0%), from €19,910 to €12,937
- Taxes +€3,942
up €3,942 (+1,212%), from €325 to €4,267
- Staff costs +€2,420
up €2,420 (+16.9%), from €14,325 to €16,744
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 | €75,755 | €68,973 | -€6,782 | -9.0% |
| Fixed assets | 21/28 | €47,916 | €34,937 | -€12,980 | -27.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €47,916 | €34,937 | -€12,980 | -27.1% |
| Furniture and vehicles | 24 | €47,535 | €34,855 | -€12,680 | -26.7% |
| Other tangible fixed assets | 26 | €382 | €82 | -€300 | -78.6% |
| Current assets | 29/58 | €27,839 | €34,036 | +€6,197 | +22.3% |
| Amounts receivable within one year | 40/41 | €20,910 | - | -€20,910 | |
| Trade receivables | 40 | €13,582 | - | -€13,582 | |
| Other amounts receivable | 41 | €7,328 | - | -€7,328 | |
| Cash at bank and in hand | 54/58 | €4,301 | €31,464 | +€27,163 | +632% |
| Deferred charges and accrued income | 490/1 | €2,628 | €2,572 | -€56 | -2.1% |
| Total equity and liabilities | 10/49 | €75,755 | €68,973 | -€6,782 | -9.0% |
| Equity | 10/15 | €22,598 | €26,929 | +€4,331 | +19.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,398 | €20,729 | +€4,331 | +26.4% |
| Distributable reserves | 133 | €16,398 | €20,729 | +€4,331 | +26.4% |
| Amounts payable | 17/49 | €53,157 | €42,043 | -€11,114 | -20.9% |
| Amounts payable after more than one year | 17 | €30,443 | €20,448 | -€9,996 | -32.8% |
| Financial debts | 170/4 | €30,443 | €20,448 | -€9,996 | -32.8% |
| Amounts payable within one year | 42/48 | €22,714 | €21,596 | -€1,118 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €9,561 | €9,996 | +€435 | +4.6% |
| Financial debts | 43 | €1,333 | €1,349 | +€16 | +1.2% |
| Credit institutions | 430/8 | €1,333 | €1,349 | +€16 | +1.2% |
| Trade debts | 44 | €296 | €69 | -€226 | -76.6% |
| Suppliers | 440/4 | €296 | €69 | -€226 | -76.6% |
| Taxes, remuneration and social security | 45 | €2,974 | €2,881 | -€93 | -3.1% |
| Taxes | 450/3 | €2,974 | €2,881 | -€93 | -3.1% |
| Other amounts payable | 47/48 | €8,550 | €7,301 | -€1,249 | -14.6% |
| Non-recurring operating income | 76A | €6,450 | - | -€6,450 | |
| Remuneration, social security and pensions | 62 | €14,325 | €16,744 | +€2,420 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,910 | €12,937 | -€6,973 | -35.0% |
| Other operating charges | 640/8 | €1,029 | €821 | -€208 | -20.3% |
| Non-recurring operating charges | 66A | €123 | €547 | +€424 | +346% |
| Gross operating margin | 9900 | €41,311 | €48,891 | +€7,580 | +18.3% |
| Operating profit (loss) | 9901 | €5,925 | €17,842 | +€11,917 | +201% |
| Financial income | 75/76B | €5 | €29 | +€24 | +505% |
| Recurring financial income | 75 | €5 | €29 | +€24 | +505% |
| Financial charges | 65/66B | €2,167 | €1,772 | -€395 | -18.2% |
| Recurring financial charges | 65 | €2,167 | €1,772 | -€395 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €3,763 | €16,099 | +€12,336 | +328% |
| Income taxes | 67/77 | €325 | €4,267 | +€3,942 | +1,212% |
| Profit (loss) for the period | 9904 | €3,438 | €11,831 | +€8,393 | +244% |
| Profit (loss) for the period to be appropriated | 9905 | €3,438 | €11,831 | +€8,393 | +244% |
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 17 October 2026 via checked.be.