GREGACO: what changed
GREGACO
Largest movements
- Tangible fixed assets -€24,476
down €24,476 (-47.6%), from €51,431 to €26,955
of which Furniture and vehicles: -€22,823
- Receivables within one year -€6,363
down €6,363 (-35.9%), from €17,721 to €11,358
of which Trade receivables: -€9,651
- Deferred charges and accrued income +€5,504
up €5,504 (+500%), from €1,101 to €6,605
- Cash +€4,072
new in 2025: €4,072
mainly Investment in fixed assets (net) (+€15,338) and Other debts (+€13,985)
- Stocks and contracts +€3,085
up €3,085 (+47.9%), from €6,440 to €9,525
- Other debts +€13,985
up €13,985 (+1,217%), from €1,149 to €15,134
- Current portion of long-term debt -€8,410
down €8,410 (-51.2%), from €16,420 to €8,010
- Reserves -€7,794
down €7,794 (-43.0%), from €18,125 to €10,331
- Short-term financial debts -€6,058
no longer reported in 2025 (was €6,058)
- Debts after one year -€4,283
down €4,283 (-27.8%), from €15,394 to €11,111
- Staff costs +€24,570
up €24,570 (+34.3%), from €71,730 to €96,300
- Depreciation -€7,567
down €7,567 (-45.3%), from €16,705 to €9,138
- Taxes -€3,315
down €3,315 (-96.1%), from €3,448 to €133
- Financial charges +€2,645
up €2,645 (+35.2%), from €7,516 to €10,161
- Gross operating margin -€1,198
down €1,198 (-1.1%), from €110,796 to €109,598
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,763 | €60,585 | -€18,178 | -23.1% |
| Fixed assets | 21/28 | €53,501 | €29,025 | -€24,476 | -45.7% |
| Tangible fixed assets | 22/27 | €51,431 | €26,955 | -€24,476 | -47.6% |
| Land and buildings | 22 | €75 | - | -€75 | |
| Plant, machinery and equipment | 23 | €16,053 | €14,475 | -€1,578 | -9.8% |
| Furniture and vehicles | 24 | €35,303 | €12,480 | -€22,823 | -64.6% |
| Financial fixed assets | 28 | €2,070 | €2,070 | = | 0.0% |
| Current assets | 29/58 | €25,262 | €31,560 | +€6,298 | +24.9% |
| Stocks and contracts in progress | 3 | €6,440 | €9,525 | +€3,085 | +47.9% |
| Stocks | 30/36 | €6,440 | €9,525 | +€3,085 | +47.9% |
| Amounts receivable within one year | 40/41 | €17,721 | €11,358 | -€6,363 | -35.9% |
| Trade receivables | 40 | €17,624 | €7,973 | -€9,651 | -54.8% |
| Other amounts receivable | 41 | €97 | €3,385 | +€3,288 | +3,390% |
| Cash at bank and in hand | 54/58 | - | €4,072 | +€4,072 | |
| Deferred charges and accrued income | 490/1 | €1,101 | €6,605 | +€5,504 | +500% |
| Total equity and liabilities | 10/49 | €78,763 | €60,585 | -€18,178 | -23.1% |
| Equity | 10/15 | €20,625 | €12,831 | -€7,794 | -37.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €18,125 | €10,331 | -€7,794 | -43.0% |
| Distributable reserves | 133 | €18,125 | €10,331 | -€7,794 | -43.0% |
| Amounts payable | 17/49 | €58,138 | €47,754 | -€10,384 | -17.9% |
| Amounts payable after more than one year | 17 | €15,394 | €11,111 | -€4,283 | -27.8% |
| Financial debts | 170/4 | €15,394 | €11,111 | -€4,283 | -27.8% |
| Amounts payable within one year | 42/48 | €42,744 | €36,643 | -€6,101 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €16,420 | €8,010 | -€8,410 | -51.2% |
| Financial debts | 43 | €6,058 | - | -€6,058 | |
| Credit institutions | 430/8 | €6,058 | - | -€6,058 | |
| Trade debts | 44 | €10,734 | €8,599 | -€2,135 | -19.9% |
| Suppliers | 440/4 | €10,734 | €8,599 | -€2,135 | -19.9% |
| Taxes, remuneration and social security | 45 | €8,383 | €4,900 | -€3,483 | -41.5% |
| Taxes | 450/3 | €6,794 | €4,900 | -€1,894 | -27.9% |
| Remuneration and social security | 454/9 | €1,589 | - | -€1,589 | |
| Other amounts payable | 47/48 | €1,149 | €15,134 | +€13,985 | +1,217% |
| Remuneration, social security and pensions | 62 | €71,730 | €96,300 | +€24,570 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,705 | €9,138 | -€7,567 | -45.3% |
| Other operating charges | 640/8 | €1,831 | €1,343 | -€488 | -26.7% |
| Non-recurring operating charges | 66A | €189 | €317 | +€128 | +67.7% |
| Gross operating margin | 9900 | €110,796 | €109,598 | -€1,198 | -1.1% |
| Operating profit (loss) | 9901 | €20,341 | €2,500 | -€17,841 | -87.7% |
| Financial charges | 65/66B | €7,516 | €10,161 | +€2,645 | +35.2% |
| Recurring financial charges | 65 | €7,516 | €10,161 | +€2,645 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | €12,825 | -€7,661 | -€20,486 | |
| Income taxes | 67/77 | €3,448 | €133 | -€3,315 | -96.1% |
| Profit (loss) for the period | 9904 | €9,377 | -€7,794 | -€17,171 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,377 | -€7,794 | -€17,171 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.