Gredim: 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.
Gredim
Largest movements
- Cash -€101,467
down €101,467 (-36.8%), from €275,581 to €174,113
mainly Contributions, distributions and other (-€250,000) and Other debts (-€149,067)
- Receivables within one year -€13,406
down €13,406 (-4.0%), from €339,001 to €325,595
of which Trade receivables: -€18,960
- Deferred charges and accrued income -€7,587
down €7,587 (-57.0%), from €13,300 to €5,713
- Other debts -€149,067
down €149,067 (-37.2%), from €400,500 to €251,433
- Trade debts +€24,222
up €24,222 (+131%), from €18,424 to €42,646
- Financial charges +€179,842
up €179,842, from -€177,027 to €2,815
- Gross operating margin -€136,344
down €136,344 (-67.3%), from €202,614 to €66,270
- Financial income +€72,409
up €72,409 (+37.6%), from €192,459 to €264,868
of which Non-recurring financial income: +€69,688
- Staff costs -€29,225
down €29,225 (-33.2%), from €87,998 to €58,773
- Taxes +€9,372
new in 2025: €9,372
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 | €628,931 | €506,053 | -€122,878 | -19.5% |
| Fixed assets | 21/28 | €1,049 | €631 | -€417 | -39.8% |
| Tangible fixed assets | 22/27 | €1,049 | €631 | -€417 | -39.8% |
| Plant, machinery and equipment | 23 | €1,049 | €631 | -€417 | -39.8% |
| Current assets | 29/58 | €627,882 | €505,421 | -€122,461 | -19.5% |
| Amounts receivable within one year | 40/41 | €339,001 | €325,595 | -€13,406 | -4.0% |
| Trade receivables | 40 | €29,192 | €10,232 | -€18,960 | -64.9% |
| Other amounts receivable | 41 | €309,810 | €315,363 | +€5,553 | +1.8% |
| Cash at bank and in hand | 54/58 | €275,581 | €174,113 | -€101,467 | -36.8% |
| Deferred charges and accrued income | 490/1 | €13,300 | €5,713 | -€7,587 | -57.0% |
| Total equity and liabilities | 10/49 | €628,931 | €506,053 | -€122,878 | -19.5% |
| Equity | 10/15 | €187,429 | €182,912 | -€4,517 | -2.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €125,429 | €120,912 | -€4,517 | -3.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,037 | €25,037 | = | 0.0% |
| Distributable reserves | 133 | €94,191 | €89,675 | -€4,517 | -4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €441,502 | €323,141 | -€118,361 | -26.8% |
| Amounts payable within one year | 42/48 | €441,502 | €318,171 | -€123,331 | -27.9% |
| Trade debts | 44 | €18,424 | €42,646 | +€24,222 | +131% |
| Suppliers | 440/4 | €18,424 | €42,646 | +€24,222 | +131% |
| Advances received on contracts in progress | 46 | €2,600 | €3,100 | +€500 | +19.2% |
| Taxes, remuneration and social security | 45 | €19,978 | €20,992 | +€1,014 | +5.1% |
| Taxes | 450/3 | €11,497 | €15,452 | +€3,955 | +34.4% |
| Remuneration and social security | 454/9 | €8,481 | €5,540 | -€2,941 | -34.7% |
| Other amounts payable | 47/48 | €400,500 | €251,433 | -€149,067 | -37.2% |
| Accrued charges and deferred income | 492/3 | €0 | €4,970 | +€4,970 | |
| Remuneration, social security and pensions | 62 | €87,998 | €58,773 | -€29,225 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €417 | = | 0.0% |
| Other operating charges | 640/8 | €13,336 | €14,278 | +€942 | +7.1% |
| Gross operating margin | 9900 | €202,614 | €66,270 | -€136,344 | -67.3% |
| Operating profit (loss) | 9901 | €100,863 | -€7,199 | -€108,061 | |
| Financial income | 75/76B | €192,459 | €264,868 | +€72,409 | +37.6% |
| Recurring financial income | 75 | €832 | €3,553 | +€2,721 | +327% |
| Non-recurring financial income | 76B | €191,627 | €261,316 | +€69,688 | +36.4% |
| Financial charges | 65/66B | -€177,027 | €2,815 | +€179,842 | |
| Recurring financial charges | 65 | -€177,027 | €2,815 | +€179,842 | |
| Profit (loss) for the period before taxes | 9903 | €470,348 | €254,855 | -€215,493 | -45.8% |
| Income taxes | 67/77 | - | €9,372 | +€9,372 | |
| Profit (loss) for the period | 9904 | €470,348 | €245,483 | -€224,865 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €470,348 | €245,483 | -€224,865 | -47.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.