GREFA CONSULTING: 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.
GREFA CONSULTING
Largest movements
- Tangible fixed assets -€117,496
down €117,496 (-6.7%), from €1.7m to €1.6m
- Profit (loss) carried forward -€107,252
down €107,252 (-16.5%), from -€650,961 to -€758,212
- Revaluation surpluses -€93,117
down €93,117 (-6.8%), from €1.4m to €1.3m
- Reserves +€93,117
up €93,117 (+22.3%), from €416,823 to €509,940
- Debts after one year -€45,155
down €45,155 (-19.7%), from €229,106 to €183,951
- Gross operating margin -€10,618
down €10,618 (-37.8%), from €28,068 to €17,451
- Depreciation -€1,051
down €1,051 (-0.9%), from €118,548 to €117,496
- Financial income +€887
up €887 (+4052.7%), from €22 to €909
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 | €1,796,875 | €1,654,977 | -€141,899 | -7.9% |
| Fixed assets | 21/28 | €1,742,623 | €1,625,127 | -€117,496 | -6.7% |
| Tangible fixed assets | 22/27 | €1,742,623 | €1,625,127 | -€117,496 | -6.7% |
| Land and buildings | 22 | €1,742,623 | €1,625,127 | -€117,496 | -6.7% |
| Current assets | 29/58 | €54,253 | €29,850 | -€24,402 | -45.0% |
| Amounts receivable within one year | 40/41 | €32,249 | €15,264 | -€16,985 | -52.7% |
| Other amounts receivable | 41 | €32,249 | €15,264 | -€16,985 | -52.7% |
| Cash at bank and in hand | 54/58 | €19,886 | €12,451 | -€7,436 | -37.4% |
| Deferred charges and accrued income | 490/1 | €2,117 | €2,135 | +€18 | +0.9% |
| Total equity and liabilities | 10/49 | €1,796,875 | €1,654,977 | -€141,899 | -7.9% |
| Equity | 10/15 | €1,320,777 | €1,213,526 | -€107,252 | -8.1% |
| Contributions | 10/11 | €189,272 | €189,272 | = | 0.0% |
| Revaluation surpluses | 12 | €1,365,643 | €1,272,526 | -€93,117 | -6.8% |
| Reserves | 13 | €416,823 | €509,940 | +€93,117 | +22.3% |
| Distributable reserves | 133 | €416,823 | €509,940 | +€93,117 | +22.3% |
| Profit (loss) carried forward | 14 | -€650,961 | -€758,212 | -€107,252 | -16.5% |
| Amounts payable | 17/49 | €476,098 | €441,451 | -€34,647 | -7.3% |
| Amounts payable after more than one year | 17 | €229,106 | €183,951 | -€45,155 | -19.7% |
| Financial debts | 170/4 | €229,106 | €183,951 | -€45,155 | -19.7% |
| Amounts payable within one year | 42/48 | €246,992 | €257,500 | +€10,508 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €44,827 | €45,155 | +€328 | +0.7% |
| Taxes, remuneration and social security | 45 | - | €180 | +€180 | |
| Taxes | 450/3 | - | €180 | +€180 | |
| Other amounts payable | 47/48 | €202,165 | €212,165 | +€10,000 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,548 | €117,496 | -€1,051 | -0.9% |
| Other operating charges | 640/8 | €5,486 | €5,658 | +€172 | +3.1% |
| Gross operating margin | 9900 | €28,068 | €17,451 | -€10,618 | -37.8% |
| Operating profit (loss) | 9901 | -€95,966 | -€105,703 | -€9,738 | -10.1% |
| Financial income | 75/76B | €22 | €909 | +€887 | +4052.7% |
| Recurring financial income | 75 | €22 | €909 | +€887 | +4052.7% |
| Financial charges | 65/66B | €2,182 | €2,457 | +€275 | +12.6% |
| Recurring financial charges | 65 | €2,182 | €2,457 | +€275 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | -€98,126 | -€107,252 | -€9,126 | -9.3% |
| Profit (loss) for the period | 9904 | -€98,126 | -€107,252 | -€9,126 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,126 | -€107,252 | -€9,126 | -9.3% |
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 8 October 2026 via checked.be.