GREJON: what changed
What changed
GREJON
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€336,228
2024 · €473,483-€137,255
Equity
€3.5m
2024 · €3.1m+€334,239
Cash
€1.6m
2024 · €1.5m+€112,754
Balance sheet total
€6.1m
2024 · €6.0m+€111,542
Largest movements
Assets
- Stocks and contracts +€145,406
up €145,406 (+12.0%), from €1.2m to €1.4m
- Receivables within one year -€115,567
down €115,567 (-54.3%), from €212,764 to €97,197
of which Other amounts receivable: -€144,058
- Cash +€112,754
up €112,754 (+7.7%), from €1.5m to €1.6m
mainly Net result for the year (+€336,228) and Receivables within one year (+€115,567)
Equity and liabilities
- Reserves +€336,228
up €336,228 (+11.1%), from €3.0m to €3.4m
of which Distributable reserves: +€278,573
- Short-term financial debts -€205,000
down €205,000 (-100%), from €205,000 to €0
- Debts after one year -€61,992
down €61,992 (-33.0%), from €188,107 to €126,115
Income statement
- Gross operating margin -€153,252
down €153,252 (-19.5%), from €786,910 to €633,658
- Taxes +€48,797
up €48,797 (+57.4%), from €84,988 to €133,785
- Depreciation +€16,661
up €16,661 (+33.0%), from €50,458 to €67,120
- Staff costs +€8,594
up €8,594 (+52.5%), from €16,380 to €24,974
- Financial income +€8,185
up €8,185 (+140%), from €5,827 to €14,012
of which Financial income: +€8,015
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.
Result 2024
€473,483
Gross operating margin
-€153,252
Staff costs
-€8,594
Depreciation
-€16,661
Other operating charges
+€3,656
Financial income
+€8,185
Financial charges
-€359
Taxes
-€48,797
Deferred taxes and other
+€78,567
Result 2025
€336,228
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€419,165
Investment
-€38,129
Financing
-€268,282
Cash 2024
€1.5m
From operations (derived)
+€419,165
Net result for the year
+€336,228
Depreciation
+€67,120
Stocks and contracts
-€145,406
Receivables within one year
+€115,567
Deferred charges and accrued income
+€2,061
Provisions
+€19,218
Trade debts
+€18,546
Tax, wage and social debts
-€27,213
Other debts
+€33,044
Investment (derived)
-€38,129
Investment in fixed assets (net)
-€38,129
Financing
-€268,282
Debts after one year
-€61,992
Current portion of long-term debt
+€700
Short-term financial debts
-€205,000
Contributions, distributions and other
-€1,989
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,017,645 | €6,129,187 | +€111,542 | +1.9% |
| Fixed assets | 21/28 | €3,130,143 | €3,101,153 | -€28,990 | -0.9% |
| Tangible fixed assets | 22/27 | €1,442,333 | €1,413,343 | -€28,990 | -2.0% |
| Land and buildings | 22 | €1,355,996 | €1,338,639 | -€17,358 | -1.3% |
| Plant, machinery and equipment | 23 | €1,619 | €847 | -€773 | -47.7% |
| Furniture and vehicles | 24 | €84,717 | €73,858 | -€10,860 | -12.8% |
| Financial fixed assets | 28 | €1,687,810 | €1,687,810 | = | 0.0% |
| Current assets | 29/58 | €2,887,502 | €3,028,034 | +€140,532 | +4.9% |
| Stocks and contracts in progress | 3 | €1,210,823 | €1,356,229 | +€145,406 | +12.0% |
| Stocks | 30/36 | €1,210,823 | €1,356,229 | +€145,406 | +12.0% |
| Amounts receivable within one year | 40/41 | €212,764 | €97,197 | -€115,567 | -54.3% |
| Trade receivables | 40 | €68,707 | €97,197 | +€28,491 | +41.5% |
| Other amounts receivable | 41 | €144,058 | €0 | -€144,058 | -100% |
| Cash at bank and in hand | 54/58 | €1,461,431 | €1,574,184 | +€112,754 | +7.7% |
| Deferred charges and accrued income | 490/1 | €2,484 | €423 | -€2,061 | -83.0% |
| Total equity and liabilities | 10/49 | €6,017,645 | €6,129,187 | +€111,542 | +1.9% |
| Equity | 10/15 | €3,124,105 | €3,458,344 | +€334,239 | +10.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €30,649 | €28,660 | -€1,989 | -6.5% |
| Reserves | 13 | €3,031,602 | €3,367,830 | +€336,228 | +11.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €440,547 | €498,202 | +€57,655 | +13.1% |
| Distributable reserves | 133 | €2,584,905 | €2,863,478 | +€278,573 | +10.8% |
| Profit (loss) carried forward | 14 | €354 | €354 | = | 0.0% |
| Provisions and deferred taxes | 16 | €146,849 | €166,067 | +€19,218 | +13.1% |
| Deferred taxes | 168 | €146,849 | €166,067 | +€19,218 | +13.1% |
| Amounts payable | 17/49 | €2,746,692 | €2,504,777 | -€241,915 | -8.8% |
| Amounts payable after more than one year | 17 | €188,107 | €126,115 | -€61,992 | -33.0% |
| Financial debts | 170/4 | €188,107 | €126,115 | -€61,992 | -33.0% |
| Amounts payable within one year | 42/48 | €2,558,485 | €2,378,562 | -€179,923 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €61,292 | €61,992 | +€700 | +1.1% |
| Financial debts | 43 | €205,000 | €0 | -€205,000 | -100% |
| Credit institutions | 430/8 | €205,000 | €0 | -€205,000 | -100% |
| Trade debts | 44 | €4,790 | €23,336 | +€18,546 | +387% |
| Suppliers | 440/4 | €4,790 | €23,336 | +€18,546 | +387% |
| Taxes, remuneration and social security | 45 | €73,685 | €46,472 | -€27,213 | -36.9% |
| Taxes | 450/3 | €70,758 | €42,154 | -€28,604 | -40.4% |
| Remuneration and social security | 454/9 | €2,927 | €4,319 | +€1,392 | +47.5% |
| Other amounts payable | 47/48 | €2,213,718 | €2,246,761 | +€33,044 | +1.5% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €16,380 | €24,974 | +€8,594 | +52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,458 | €67,120 | +€16,661 | +33.0% |
| Other operating charges | 640/8 | €11,651 | €7,995 | -€3,656 | -31.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €786,910 | €633,658 | -€153,252 | -19.5% |
| Operating profit (loss) | 9901 | €708,421 | €533,569 | -€174,851 | -24.7% |
| Financial income | 75/76B | €5,827 | €14,012 | +€8,185 | +140% |
| Recurring financial income | 75 | €5,827 | €13,841 | +€8,015 | +138% |
| Non-recurring financial income | 76B | - | €171 | +€171 | |
| Financial charges | 65/66B | €57,991 | €58,349 | +€359 | +0.6% |
| Recurring financial charges | 65 | €57,991 | €58,349 | +€359 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €656,257 | €489,231 | -€167,025 | -25.5% |
| Transfer from deferred taxes | 780 | €1,732 | €2,024 | +€293 | +16.9% |
| Transfer to deferred taxes | 680 | €99,517 | €21,243 | -€78,275 | -78.7% |
| Income taxes | 67/77 | €84,988 | €133,785 | +€48,797 | +57.4% |
| Profit (loss) for the period | 9904 | €473,483 | €336,228 | -€137,255 | -29.0% |
| Transfer from tax-exempt reserves | 789 | €5,195 | €6,073 | +€878 | +16.9% |
| Transfer to tax-exempt reserves | 689 | €298,552 | €63,728 | -€234,824 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €180,126 | €278,573 | +€98,447 | +54.7% |
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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 2 November 2026 via checked.be.