GREGORY SORGELOOSE: 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.
GREGORY SORGELOOSE
Largest movements
- Tangible fixed assets +€34,963
up €34,963 (+552%), from €6,334 to €41,297
of which Land and buildings: +€36,361
- Receivables within one year -€12,512
down €12,512 (-9.4%), from €133,130 to €120,618
of which Other amounts receivable: -€26,389
- Cash -€8,366
down €8,366 (-31.3%), from €26,767 to €18,401
mainly Contributions, distributions and other (-€47,000) and Investment in fixed assets (net) (-€36,484)
- Deferred charges and accrued income -€3,655
down €3,655 (-13.9%), from €26,286 to €22,631
- Reserves -€29,000
down €29,000 (-19.0%), from €152,875 to €123,875
- Debts after one year +€28,844
new in 2025: €28,844
- Other debts +€10,000
new in 2025: €10,000
- Trade debts -€9,596
down €9,596 (-62.5%), from €15,365 to €5,769
- Tax, wage and social debts +€8,065
up €8,065 (+136%), from €5,921 to €13,987
- Gross operating margin -€11,781
down €11,781 (-37.4%), from €31,524 to €19,743
- Taxes -€2,231
down €2,231 (-32.0%), from €6,970 to €4,739
- Write-downs -€1,600
no longer reported in 2025 (was €1,600)
- Financial income +€1,335
up €1,335 (+22.8%), from €5,854 to €7,189
- Other operating charges -€1,060
down €1,060 (-50.3%), from €2,106 to €1,047
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 | €192,626 | €203,056 | +€10,430 | +5.4% |
| Fixed assets | 21/28 | €6,443 | €41,406 | +€34,963 | +543% |
| Tangible fixed assets | 22/27 | €6,334 | €41,297 | +€34,963 | +552% |
| Land and buildings | 22 | - | €36,361 | +€36,361 | |
| Plant, machinery and equipment | 23 | €1,041 | €701 | -€340 | -32.6% |
| Furniture and vehicles | 24 | €1,993 | €935 | -€1,058 | -53.1% |
| Leasing and similar rights | 25 | €3,300 | €3,300 | = | 0.0% |
| Financial fixed assets | 28 | €109 | €109 | = | 0.0% |
| Current assets | 29/58 | €186,183 | €161,650 | -€24,533 | -13.2% |
| Amounts receivable within one year | 40/41 | €133,130 | €120,618 | -€12,512 | -9.4% |
| Trade receivables | 40 | €48,558 | €62,435 | +€13,877 | +28.6% |
| Other amounts receivable | 41 | €84,572 | €58,183 | -€26,389 | -31.2% |
| Cash at bank and in hand | 54/58 | €26,767 | €18,401 | -€8,366 | -31.3% |
| Deferred charges and accrued income | 490/1 | €26,286 | €22,631 | -€3,655 | -13.9% |
| Total equity and liabilities | 10/49 | €192,626 | €203,056 | +€10,430 | +5.4% |
| Equity | 10/15 | €167,929 | €139,324 | -€28,605 | -17.0% |
| Contributions | 10/11 | €11,500 | €11,500 | = | 0.0% |
| Reserves | 13 | €152,875 | €123,875 | -€29,000 | -19.0% |
| Distributable reserves | 133 | €152,875 | €123,875 | -€29,000 | -19.0% |
| Profit (loss) carried forward | 14 | €3,554 | €3,949 | +€395 | +11.1% |
| Amounts payable | 17/49 | €24,697 | €63,732 | +€39,035 | +158% |
| Amounts payable after more than one year | 17 | - | €28,844 | +€28,844 | |
| Financial debts | 170/4 | - | €28,844 | +€28,844 | |
| Amounts payable within one year | 42/48 | €24,697 | €34,888 | +€10,191 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | - | €1,490 | +€1,490 | |
| Financial debts | 43 | €3,411 | €3,643 | +€232 | +6.8% |
| Credit institutions | 430/8 | €3,411 | €3,643 | +€232 | +6.8% |
| Trade debts | 44 | €15,365 | €5,769 | -€9,596 | -62.5% |
| Suppliers | 440/4 | €15,365 | €5,769 | -€9,596 | -62.5% |
| Taxes, remuneration and social security | 45 | €5,921 | €13,987 | +€8,065 | +136% |
| Taxes | 450/3 | €5,921 | €13,987 | +€8,065 | +136% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,902 | €1,522 | -€380 | -20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,600 | - | -€1,600 | |
| Other operating charges | 640/8 | €2,106 | €1,047 | -€1,060 | -50.3% |
| Gross operating margin | 9900 | €31,524 | €19,743 | -€11,781 | -37.4% |
| Operating profit (loss) | 9901 | €25,916 | €17,174 | -€8,742 | -33.7% |
| Financial income | 75/76B | €5,854 | €7,189 | +€1,335 | +22.8% |
| Recurring financial income | 75 | €5,854 | €7,189 | +€1,335 | +22.8% |
| Financial charges | 65/66B | €832 | €1,229 | +€397 | +47.7% |
| Recurring financial charges | 65 | €832 | €1,229 | +€397 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | €30,938 | €23,134 | -€7,804 | -25.2% |
| Income taxes | 67/77 | €6,970 | €4,739 | -€2,231 | -32.0% |
| Profit (loss) for the period | 9904 | €23,968 | €18,395 | -€5,573 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,968 | €18,395 | -€5,573 | -23.3% |
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 15 October 2026 via checked.be.