GREGAM: 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.
GREGAM
Largest movements
- Cash +€17,440
up €17,440 (+110.1%), from €15,836 to €33,276
mainly Debts after one year (+€13,338) and Depreciation (+€12,006)
- Tangible fixed assets -€10,435
down €10,435 (-28.4%), from €36,720 to €26,285
of which Furniture and vehicles: -€7,735
- Receivables within one year -€2,774
down €2,774 (-26.6%), from €10,425 to €7,651
of which Other amounts receivable: -€1,652
- Intangible fixed assets -€1,571
down €1,571 (-18.3%), from €8,580 to €7,009
- Profit (loss) carried forward -€28,409
down €28,409, from €24,839 to -€3,570
- Debts after one year +€13,338
up €13,338 (+49.9%), from €26,738 to €40,076
- Current portion of long-term debt +€9,332
up €9,332 (+206.5%), from €4,519 to €13,851
- Tax, wage and social debts +€3,797
up €3,797 (+31.5%), from €12,046 to €15,843
of which Remuneration and social security: +€4,161
- Other debts +€3,172
up €3,172 (+90.2%), from €3,516 to €6,688
- Gross operating margin -€17,502
down €17,502 (-28.2%), from €62,124 to €44,622
- Staff costs +€10,761
up €10,761 (+27.3%), from €39,354 to €50,115
- Depreciation -€1,640
down €1,640 (-12.0%), from €13,646 to €12,006
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 | €84,800 | €86,754 | +€1,954 | +2.3% |
| Fixed assets | 21/28 | €45,300 | €33,294 | -€12,006 | -26.5% |
| Intangible fixed assets | 21 | €8,580 | €7,009 | -€1,571 | -18.3% |
| Tangible fixed assets | 22/27 | €36,720 | €26,285 | -€10,435 | -28.4% |
| Plant, machinery and equipment | 23 | €12,222 | €9,522 | -€2,700 | -22.1% |
| Furniture and vehicles | 24 | €24,498 | €16,763 | -€7,735 | -31.6% |
| Current assets | 29/58 | €39,500 | €53,460 | +€13,960 | +35.3% |
| Stocks and contracts in progress | 3 | €12,492 | €12,037 | -€455 | -3.6% |
| Stocks | 30/36 | €12,492 | €12,037 | -€455 | -3.6% |
| Amounts receivable within one year | 40/41 | €10,425 | €7,651 | -€2,774 | -26.6% |
| Trade receivables | 40 | €1,122 | - | -€1,122 | |
| Other amounts receivable | 41 | €9,303 | €7,651 | -€1,652 | -17.8% |
| Cash at bank and in hand | 54/58 | €15,836 | €33,276 | +€17,440 | +110.1% |
| Deferred charges and accrued income | 490/1 | €747 | €496 | -€251 | -33.6% |
| Total equity and liabilities | 10/49 | €84,800 | €86,754 | +€1,954 | +2.3% |
| Equity | 10/15 | €32,899 | €4,490 | -€28,409 | -86.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Share premium | 1100/10 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,839 | -€3,570 | -€28,409 | |
| Amounts payable | 17/49 | €51,901 | €82,264 | +€30,363 | +58.5% |
| Amounts payable after more than one year | 17 | €26,738 | €40,076 | +€13,338 | +49.9% |
| Financial debts | 170/4 | €26,738 | €40,076 | +€13,338 | +49.9% |
| Amounts payable within one year | 42/48 | €25,163 | €42,181 | +€17,018 | +67.6% |
| Current portion of amounts payable after more than one year | 42 | €4,519 | €13,851 | +€9,332 | +206.5% |
| Trade debts | 44 | €5,082 | €5,799 | +€717 | +14.1% |
| Suppliers | 440/4 | €5,082 | €5,799 | +€717 | +14.1% |
| Taxes, remuneration and social security | 45 | €12,046 | €15,843 | +€3,797 | +31.5% |
| Taxes | 450/3 | €6,556 | €6,192 | -€364 | -5.6% |
| Remuneration and social security | 454/9 | €5,490 | €9,651 | +€4,161 | +75.8% |
| Other amounts payable | 47/48 | €3,516 | €6,688 | +€3,172 | +90.2% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Remuneration, social security and pensions | 62 | €39,354 | €50,115 | +€10,761 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,646 | €12,006 | -€1,640 | -12.0% |
| Other operating charges | 640/8 | €6,069 | €6,424 | +€355 | +5.8% |
| Gross operating margin | 9900 | €62,124 | €44,622 | -€17,502 | -28.2% |
| Operating profit (loss) | 9901 | €3,055 | -€23,923 | -€26,978 | |
| Financial income | 75/76B | - | €179 | +€179 | |
| Recurring financial income | 75 | - | €179 | +€179 | |
| Financial charges | 65/66B | €795 | €1,145 | +€350 | +44.0% |
| Recurring financial charges | 65 | €795 | €1,145 | +€350 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €2,260 | -€24,889 | -€27,149 | |
| Income taxes | 67/77 | €466 | €310 | -€156 | -33.5% |
| Profit (loss) for the period | 9904 | €1,794 | -€25,199 | -€26,993 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,794 | -€25,199 | -€26,993 |
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.