GREDINE: 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.
GREDINE
Largest movements
- Tangible fixed assets -€20,800
down €20,800 (-20.6%), from €100,871 to €80,071
of which Furniture and vehicles: -€11,381
- Cash +€14,171
up €14,171 (+29.2%), from €48,519 to €62,690
mainly Depreciation (+€21,692) and Receivables within one year (+€7,698)
- Receivables within one year -€7,698
down €7,698 (-54.3%), from €14,169 to €6,471
of which Trade receivables: -€4,622
- Profit (loss) carried forward -€19,099
down €19,099 (-30.2%), from €63,181 to €44,082
- Other debts +€3,263
up €3,263 (+3.5%), from €93,968 to €97,231
- Gross operating margin +€5,588
up €5,588 (+101.5%), from €5,505 to €11,093
- Financial income -€2,521
down €2,521 (-63.0%), from €3,999 to €1,478
- Financial charges +€317
up €317 (+4.8%), from €6,629 to €6,947
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.
Cash bridge derived
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 | €186,759 | €172,536 | -€14,223 | -7.6% |
| Fixed assets | 21/28 | €100,871 | €80,071 | -€20,800 | -20.6% |
| Tangible fixed assets | 22/27 | €100,871 | €80,071 | -€20,800 | -20.6% |
| Land and buildings | 22 | €80,557 | €70,732 | -€9,825 | -12.2% |
| Plant, machinery and equipment | 23 | €3,008 | €3,414 | +€407 | +13.5% |
| Furniture and vehicles | 24 | €17,306 | €5,925 | -€11,381 | -65.8% |
| Current assets | 29/58 | €85,888 | €92,465 | +€6,576 | +7.7% |
| Amounts receivable within one year | 40/41 | €14,169 | €6,471 | -€7,698 | -54.3% |
| Trade receivables | 40 | €9,222 | €4,599 | -€4,622 | -50.1% |
| Other amounts receivable | 41 | €4,948 | €1,872 | -€3,076 | -62.2% |
| Current investments | 50/53 | €21,985 | €21,985 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,519 | €62,690 | +€14,171 | +29.2% |
| Deferred charges and accrued income | 490/1 | €1,215 | €1,319 | +€103 | +8.5% |
| Total equity and liabilities | 10/49 | €186,759 | €172,536 | -€14,223 | -7.6% |
| Equity | 10/15 | €83,641 | €64,542 | -€19,099 | -22.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,181 | €44,082 | -€19,099 | -30.2% |
| Amounts payable | 17/49 | €103,118 | €107,994 | +€4,876 | +4.7% |
| Amounts payable within one year | 42/48 | €96,705 | €101,364 | +€4,659 | +4.8% |
| Trade debts | 44 | €1,944 | €3,807 | +€1,862 | +95.8% |
| Suppliers | 440/4 | €1,944 | €3,807 | +€1,862 | +95.8% |
| Taxes, remuneration and social security | 45 | €792 | €326 | -€466 | -58.9% |
| Taxes | 450/3 | €792 | €326 | -€466 | -58.9% |
| Other amounts payable | 47/48 | €93,968 | €97,231 | +€3,263 | +3.5% |
| Accrued charges and deferred income | 492/3 | €6,413 | €6,630 | +€217 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,667 | €21,692 | +€25 | +0.1% |
| Other operating charges | 640/8 | €2,790 | €2,875 | +€85 | +3.0% |
| Gross operating margin | 9900 | €5,505 | €11,093 | +€5,588 | +101.5% |
| Operating profit (loss) | 9901 | -€18,952 | -€13,474 | +€5,478 | +28.9% |
| Financial income | 75/76B | €3,999 | €1,478 | -€2,521 | -63.0% |
| Recurring financial income | 75 | €3,999 | €1,478 | -€2,521 | -63.0% |
| Financial charges | 65/66B | €6,629 | €6,947 | +€317 | +4.8% |
| Recurring financial charges | 65 | €6,629 | €6,947 | +€317 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,582 | -€18,943 | +€2,640 | +12.2% |
| Income taxes | 67/77 | €70 | €156 | +€86 | +121.5% |
| Profit (loss) for the period | 9904 | -€21,653 | -€19,099 | +€2,554 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,653 | -€19,099 | +€2,554 | +11.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.