GREEBLE: 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.
GREEBLE
Largest movements
- Cash -€7,925
down €7,925 (-14.4%), from €54,978 to €47,053
mainly Contributions, distributions and other (-€25,216) and Debts after one year (-€11,426)
- Receivables within one year +€5,765
up €5,765 (+45.1%), from €12,796 to €18,561
of which Trade receivables: +€5,765
- Stocks and contracts -€3,292
down €3,292 (-34.0%), from €9,675 to €6,383
- Tangible fixed assets -€2,196
down €2,196 (-4.9%), from €45,155 to €42,959
of which Leasing and similar rights: -€10,418
- Debts after one year -€11,426
down €11,426 (-33.9%), from €33,723 to €22,297
- Other debts +€8,236
new in 2025: €8,236
- Reserves -€3,681
down €3,681 (-3.2%), from €116,346 to €112,665
- Current portion of long-term debt +€3,101
up €3,101 (+23.7%), from €13,060 to €16,161
- Trade debts -€2,376
down €2,376 (-75.0%), from €3,168 to €792
- Gross operating margin +€9,047
up €9,047 (+21.8%), from €41,506 to €50,553
- Depreciation +€6,253
up €6,253 (+90.2%), from €6,936 to €13,189
- Taxes +€2,760
up €2,760 (+36.3%), from €7,602 to €10,362
- Other operating charges -€1,116
down €1,116 (-26.4%), from €4,231 to €3,116
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 | €172,603 | €165,961 | -€6,642 | -3.8% |
| Fixed assets | 21/28 | €45,155 | €42,959 | -€2,196 | -4.9% |
| Tangible fixed assets | 22/27 | €45,155 | €42,959 | -€2,196 | -4.9% |
| Furniture and vehicles | 24 | €0 | €8,222 | +€8,222 | |
| Leasing and similar rights | 25 | €45,155 | €34,737 | -€10,418 | -23.1% |
| Current assets | 29/58 | €127,448 | €123,002 | -€4,446 | -3.5% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €9,675 | €6,383 | -€3,292 | -34.0% |
| Stocks | 30/36 | €9,675 | €6,383 | -€3,292 | -34.0% |
| Amounts receivable within one year | 40/41 | €12,796 | €18,561 | +€5,765 | +45.1% |
| Trade receivables | 40 | €12,796 | €18,561 | +€5,765 | +45.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €54,978 | €47,053 | -€7,925 | -14.4% |
| Deferred charges and accrued income | 490/1 | - | €1,005 | +€1,005 | |
| Total equity and liabilities | 10/49 | €172,603 | €165,961 | -€6,642 | -3.8% |
| Equity | 10/15 | €116,446 | €112,765 | -€3,681 | -3.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €116,346 | €112,665 | -€3,681 | -3.2% |
| Distributable reserves | 133 | €116,346 | €112,665 | -€3,681 | -3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €56,157 | €53,196 | -€2,961 | -5.3% |
| Amounts payable after more than one year | 17 | €33,723 | €22,297 | -€11,426 | -33.9% |
| Financial debts | 170/4 | €33,723 | €22,297 | -€11,426 | -33.9% |
| Amounts payable within one year | 42/48 | €22,434 | €30,898 | +€8,465 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €13,060 | €16,161 | +€3,101 | +23.7% |
| Trade debts | 44 | €3,168 | €792 | -€2,376 | -75.0% |
| Suppliers | 440/4 | €3,168 | €792 | -€2,376 | -75.0% |
| Taxes, remuneration and social security | 45 | €6,205 | €5,710 | -€495 | -8.0% |
| Taxes | 450/3 | €6,205 | €5,710 | -€495 | -8.0% |
| Other amounts payable | 47/48 | - | €8,236 | +€8,236 | |
| Non-recurring operating income | 76A | - | €2,660 | +€2,660 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,936 | €13,189 | +€6,253 | +90.2% |
| Other operating charges | 640/8 | €4,231 | €3,116 | -€1,116 | -26.4% |
| Non-recurring operating charges | 66A | €10,551 | €0 | -€10,551 | -100.0% |
| Gross operating margin | 9900 | €41,506 | €50,553 | +€9,047 | +21.8% |
| Operating profit (loss) | 9901 | €19,787 | €34,248 | +€14,461 | +73.1% |
| Financial income | 75/76B | €1,641 | €1,212 | -€430 | -26.2% |
| Recurring financial income | 75 | €1,641 | €1,212 | -€430 | -26.2% |
| Financial charges | 65/66B | €3,582 | €3,563 | -€20 | -0.5% |
| Recurring financial charges | 65 | €3,582 | €3,563 | -€20 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €17,846 | €31,897 | +€14,051 | +78.7% |
| Income taxes | 67/77 | €7,602 | €10,362 | +€2,760 | +36.3% |
| Profit (loss) for the period | 9904 | €10,245 | €21,535 | +€11,290 | +110.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,245 | €21,535 | +€11,290 | +110.2% |
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 10 October 2026 via checked.be.