GREGOIRE: 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.
GREGOIRE
Largest movements
- Stocks and contracts -€50,284
down €50,284 (-7.3%), from €691,892 to €641,608
- Cash -€34,904
down €34,904 (-8.5%), from €412,142 to €377,238
mainly Net result for the year (-€34,290) and Other debts (-€20,269)
- Tangible fixed assets +€14,601
up €14,601 (+2,425%), from €602 to €15,203
of which Plant, machinery and equipment: +€15,055
- Profit (loss) carried forward -€34,290
down €34,290 (-10.1%), from €338,749 to €304,459
- Other debts -€20,269
down €20,269 (-100%), from €20,269 to €0
- Trade debts -€11,753
down €11,753 (-28.6%), from €41,106 to €29,353
- Gross operating margin -€59,855
down €59,855 (-75.9%), from €78,903 to €19,048
- Taxes -€6,885
down €6,885 (-73.2%), from €9,408 to €2,523
- Financial income -€6,840
down €6,840 (-49.6%), from €13,781 to €6,941
- Staff costs +€2,503
up €2,503 (+5.1%), from €49,115 to €51,618
- Depreciation +€1,471
up €1,471 (+211%), from €699 to €2,170
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.
Derived cash bridge
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 | €1,173,485 | €1,105,315 | -€68,170 | -5.8% |
| Fixed assets | 21/28 | €797 | €15,338 | +€14,541 | +1,824% |
| Tangible fixed assets | 22/27 | €602 | €15,203 | +€14,601 | +2,425% |
| Plant, machinery and equipment | 23 | - | €15,055 | +€15,055 | |
| Furniture and vehicles | 24 | €602 | €148 | -€454 | -75.4% |
| Financial fixed assets | 28 | €195 | €135 | -€60 | -30.8% |
| Current assets | 29/58 | €1,172,688 | €1,089,977 | -€82,711 | -7.1% |
| Stocks and contracts in progress | 3 | €691,892 | €641,608 | -€50,284 | -7.3% |
| Stocks | 30/36 | €691,892 | €641,608 | -€50,284 | -7.3% |
| Amounts receivable within one year | 40/41 | €68,364 | €70,267 | +€1,904 | +2.8% |
| Trade receivables | 40 | €43,569 | €48,794 | +€5,225 | +12.0% |
| Other amounts receivable | 41 | €24,794 | €21,473 | -€3,321 | -13.4% |
| Cash at bank and in hand | 54/58 | €412,142 | €377,238 | -€34,904 | -8.5% |
| Deferred charges and accrued income | 490/1 | €291 | €863 | +€573 | +197% |
| Total equity and liabilities | 10/49 | €1,173,485 | €1,105,315 | -€68,170 | -5.8% |
| Equity | 10/15 | €1,105,010 | €1,070,720 | -€34,290 | -3.1% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Contributions outside capital | 11 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Reserves | 13 | €394,421 | €394,421 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,184 | €47,184 | = | 0.0% |
| Legal reserve | 130 | €47,184 | €47,184 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €347,237 | €347,237 | = | 0.0% |
| Profit (loss) carried forward | 14 | €338,749 | €304,459 | -€34,290 | -10.1% |
| Amounts payable | 17/49 | €68,475 | €34,595 | -€33,880 | -49.5% |
| Amounts payable within one year | 42/48 | €68,475 | €34,595 | -€33,880 | -49.5% |
| Trade debts | 44 | €41,106 | €29,353 | -€11,753 | -28.6% |
| Suppliers | 440/4 | €41,106 | €29,353 | -€11,753 | -28.6% |
| Taxes, remuneration and social security | 45 | €7,101 | €5,242 | -€1,859 | -26.2% |
| Taxes | 450/3 | €3,518 | €1,559 | -€1,959 | -55.7% |
| Remuneration and social security | 454/9 | €3,582 | €3,682 | +€100 | +2.8% |
| Other amounts payable | 47/48 | €20,269 | €0 | -€20,269 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €49,115 | €51,618 | +€2,503 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €2,170 | +€1,471 | +211% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €485 | -€485 | -€971 | |
| Other operating charges | 640/8 | €4,911 | €4,353 | -€559 | -11.4% |
| Gross operating margin | 9900 | €78,903 | €19,048 | -€59,855 | -75.9% |
| Operating profit (loss) | 9901 | €23,692 | -€38,607 | -€62,300 | |
| Financial income | 75/76B | €13,781 | €6,941 | -€6,840 | -49.6% |
| Recurring financial income | 75 | €13,781 | €6,941 | -€6,840 | -49.6% |
| Financial charges | 65/66B | €102 | €101 | -€1 | -1.2% |
| Recurring financial charges | 65 | €102 | €101 | -€1 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €37,371 | -€31,767 | -€69,138 | |
| Income taxes | 67/77 | €9,408 | €2,523 | -€6,885 | -73.2% |
| Profit (loss) for the period | 9904 | €27,964 | -€34,290 | -€62,254 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,964 | -€34,290 | -€62,254 |
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 17 October 2026 via checked.be.