Grejovek: 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.
Grejovek
Largest movements
- Financial fixed assets +€522,762
up €522,762 (+86.6%), from €603,843 to €1.1m
- Cash -€33,886
down €33,886 (-46.3%), from €73,204 to €39,318
mainly Investment in fixed assets (net) (-€522,762) and Debts after one year (-€99,743)
- Tangible fixed assets -€28,152
down €28,152 (-3.9%), from €721,587 to €693,435
of which Land and buildings: -€24,885
- Receivables within one year -€24,555
down €24,555 (-10.7%), from €230,215 to €205,660
of which Other amounts receivable: -€30,000
- Reserves +€273,827
up €273,827 (+64.3%), from €425,933 to €699,761
of which Distributable reserves: +€277,427
- Other debts +€253,258
up €253,258 (+290.4%), from €87,216 to €340,473
- Debts after one year -€99,743
down €99,743 (-22.9%), from €435,081 to €335,338
- Tax, wage and social debts +€54,266
up €54,266 (+593.6%), from €9,142 to €63,407
- Trade debts -€48,622
down €48,622 (-95.4%), from €50,991 to €2,369
- Gross operating margin +€245,627
up €245,627 (+125.0%), from €196,508 to €442,135
- Taxes +€78,946
up €78,946 (+151.7%), from €52,032 to €130,978
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 | €1,628,848 | €2,065,017 | +€436,169 | +26.8% |
| Fixed assets | 21/28 | €1,325,430 | €1,820,040 | +€494,610 | +37.3% |
| Tangible fixed assets | 22/27 | €721,587 | €693,435 | -€28,152 | -3.9% |
| Land and buildings | 22 | €718,320 | €693,435 | -€24,885 | -3.5% |
| Other tangible fixed assets | 26 | €3,267 | €0 | -€3,267 | -100.0% |
| Financial fixed assets | 28 | €603,843 | €1,126,605 | +€522,762 | +86.6% |
| Current assets | 29/58 | €303,418 | €244,977 | -€58,441 | -19.3% |
| Amounts receivable within one year | 40/41 | €230,215 | €205,660 | -€24,555 | -10.7% |
| Trade receivables | 40 | €35,211 | €40,656 | +€5,445 | +15.5% |
| Other amounts receivable | 41 | €195,004 | €165,004 | -€30,000 | -15.4% |
| Cash at bank and in hand | 54/58 | €73,204 | €39,318 | -€33,886 | -46.3% |
| Total equity and liabilities | 10/49 | €1,628,848 | €2,065,017 | +€436,169 | +26.8% |
| Equity | 10/15 | €929,463 | €1,203,290 | +€273,827 | +29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €425,933 | €699,761 | +€273,827 | +64.3% |
| Tax-exempt reserves | 132 | €64,788 | €61,188 | -€3,599 | -5.6% |
| Distributable reserves | 133 | €361,146 | €638,572 | +€277,427 | +76.8% |
| Profit (loss) carried forward | 14 | €484,930 | €484,930 | = | 0.0% |
| Provisions and deferred taxes | 16 | €21,596 | €20,396 | -€1,200 | -5.6% |
| Deferred taxes | 168 | €21,596 | €20,396 | -€1,200 | -5.6% |
| Amounts payable | 17/49 | €677,789 | €841,330 | +€163,541 | +24.1% |
| Amounts payable after more than one year | 17 | €435,081 | €335,338 | -€99,743 | -22.9% |
| Financial debts | 170/4 | €435,081 | €335,338 | -€99,743 | -22.9% |
| Amounts payable within one year | 42/48 | €242,708 | €505,993 | +€263,284 | +108.5% |
| Current portion of amounts payable after more than one year | 42 | €95,360 | €99,743 | +€4,383 | +4.6% |
| Trade debts | 44 | €50,991 | €2,369 | -€48,622 | -95.4% |
| Suppliers | 440/4 | €50,991 | €2,369 | -€48,622 | -95.4% |
| Taxes, remuneration and social security | 45 | €9,142 | €63,407 | +€54,266 | +593.6% |
| Taxes | 450/3 | €9,142 | €63,407 | +€54,266 | +593.6% |
| Other amounts payable | 47/48 | €87,216 | €340,473 | +€253,258 | +290.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,451 | €28,152 | -€2,298 | -7.5% |
| Other operating charges | 640/8 | €2,028 | €2,774 | +€746 | +36.8% |
| Gross operating margin | 9900 | €196,508 | €442,135 | +€245,627 | +125.0% |
| Operating profit (loss) | 9901 | €164,030 | €411,209 | +€247,179 | +150.7% |
| Financial income | 75/76B | €564 | €441 | -€123 | -21.8% |
| Recurring financial income | 75 | €564 | €441 | -€123 | -21.8% |
| Financial charges | 65/66B | €8,466 | €8,044 | -€422 | -5.0% |
| Recurring financial charges | 65 | €8,466 | €8,044 | -€422 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €156,128 | €403,605 | +€247,478 | +158.5% |
| Transfer from deferred taxes | 780 | €1,200 | €1,200 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €52,032 | €130,978 | +€78,946 | +151.7% |
| Profit (loss) for the period | 9904 | €105,295 | €273,827 | +€168,532 | +160.1% |
| Transfer from tax-exempt reserves | 789 | €3,599 | €3,599 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €108,894 | €277,427 | +€168,532 | +154.8% |
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 8 October 2026 via checked.be.