GREDIS: 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.
GREDIS
Largest movements
- Receivables within one year -€17,583
down €17,583 (-65.1%), from €26,989 to €9,407
of which Trade receivables: -€22,042
- Tangible fixed assets -€16,007
down €16,007 (-73.2%), from €21,862 to €5,855
of which Furniture and vehicles: -€12,412
- Cash -€1,034
down €1,034 (-19.3%), from €5,367 to €4,333
mainly Other debts (-€38,693) and Current portion of long-term debt (-€6,529)
- Other debts -€38,693
down €38,693 (-100.0%), from €38,693 to €0
- Trade debts +€7,194
up €7,194 (+260.6%), from €2,761 to €9,955
- Current portion of long-term debt -€6,529
down €6,529 (-100.0%), from €6,529 to €0
- Tax, wage and social debts +€1,880
up €1,880 (+93.0%), from €2,022 to €3,902
of which Remuneration and social security: +€2,691
- Profit (loss) carried forward +€1,273
up €1,273 (+12.9%), from -€9,861 to -€8,588
- Gross operating margin -€15,163
down €15,163 (-60.1%), from €25,225 to €10,062
- Depreciation -€5,818
down €5,818 (-59.0%), from €9,867 to €4,049
- Staff costs -€1,796
down €1,796 (-96.5%), from €1,861 to €65
- Financial charges -€585
down €585 (-25.5%), from €2,297 to €1,712
- Other operating charges -€493
down €493 (-14.5%), from €3,398 to €2,904
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 | €62,144 | €27,269 | -€34,875 | -56.1% |
| Fixed assets | 21/28 | €24,662 | €8,655 | -€16,007 | -64.9% |
| Tangible fixed assets | 22/27 | €21,862 | €5,855 | -€16,007 | -73.2% |
| Plant, machinery and equipment | 23 | €6,574 | €3,986 | -€2,588 | -39.4% |
| Furniture and vehicles | 24 | €12,773 | €361 | -€12,412 | -97.2% |
| Other tangible fixed assets | 26 | €1,615 | €1,508 | -€108 | -6.7% |
| Assets under construction and advance payments | 27 | €899 | €0 | -€899 | -100.0% |
| Financial fixed assets | 28 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €37,482 | €18,615 | -€18,868 | -50.3% |
| Stocks and contracts in progress | 3 | €5,126 | €4,875 | -€251 | -4.9% |
| Stocks | 30/36 | €5,126 | €4,875 | -€251 | -4.9% |
| Amounts receivable within one year | 40/41 | €26,989 | €9,407 | -€17,583 | -65.1% |
| Trade receivables | 40 | €25,391 | €3,349 | -€22,042 | -86.8% |
| Other amounts receivable | 41 | €1,599 | €6,058 | +€4,459 | +278.9% |
| Cash at bank and in hand | 54/58 | €5,367 | €4,333 | -€1,034 | -19.3% |
| Total equity and liabilities | 10/49 | €62,144 | €27,269 | -€34,875 | -56.1% |
| Equity | 10/15 | €12,139 | €13,412 | +€1,273 | +10.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,861 | -€8,588 | +€1,273 | +12.9% |
| Amounts payable | 17/49 | €50,005 | €13,857 | -€36,148 | -72.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €50,005 | €13,857 | -€36,148 | -72.3% |
| Current portion of amounts payable after more than one year | 42 | €6,529 | €0 | -€6,529 | -100.0% |
| Trade debts | 44 | €2,761 | €9,955 | +€7,194 | +260.6% |
| Suppliers | 440/4 | €2,761 | €9,955 | +€7,194 | +260.6% |
| Taxes, remuneration and social security | 45 | €2,022 | €3,902 | +€1,880 | +93.0% |
| Taxes | 450/3 | €1,977 | €1,167 | -€811 | -41.0% |
| Remuneration and social security | 454/9 | €45 | €2,736 | +€2,691 | +5979.6% |
| Other amounts payable | 47/48 | €38,693 | €0 | -€38,693 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,861 | €65 | -€1,796 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,867 | €4,049 | -€5,818 | -59.0% |
| Other operating charges | 640/8 | €3,398 | €2,904 | -€493 | -14.5% |
| Non-recurring operating charges | 66A | - | €59 | +€59 | |
| Gross operating margin | 9900 | €25,225 | €10,062 | -€15,163 | -60.1% |
| Operating profit (loss) | 9901 | €10,099 | €2,985 | -€7,114 | -70.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +3200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3200.0% |
| Financial charges | 65/66B | €2,297 | €1,712 | -€585 | -25.5% |
| Recurring financial charges | 65 | €2,297 | €1,712 | -€585 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €7,802 | €1,273 | -€6,529 | -83.7% |
| Profit (loss) for the period | 9904 | €7,802 | €1,273 | -€6,529 | -83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,802 | €1,273 | -€6,529 | -83.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.