GREKAR: 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.
GREKAR
Largest movements
- Cash +€20,659
up €20,659 (+79.6%), from €25,940 to €46,600
mainly Net result for the year (+€22,323) and Trade debts (+€9,822)
- Tangible fixed assets +€9,824
up €9,824 (+3.7%), from €262,141 to €271,965
- Reserves +€22,323
up €22,323 (+7.4%), from €300,011 to €322,334
of which Distributable reserves: +€22,323
- Trade debts +€9,822
up €9,822 (+694.0%), from €1,415 to €11,237
- Gross operating margin -€4,594
down €4,594 (-10.5%), from €43,881 to €39,287
- Taxes -€1,190
down €1,190 (-10.3%), from €11,580 to €10,390
- Other operating charges -€1,021
down €1,021 (-12.9%), from €7,923 to €6,902
- Depreciation +€609
up €609 (+114.5%), from €532 to €1,141
- Financial income +€476
up €476 (+42.4%), from €1,124 to €1,600
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 | €375,006 | €407,151 | +€32,145 | +8.6% |
| Formation expenses | 20 | €3,033 | €3,033 | = | 0.0% |
| Fixed assets | 21/28 | €342,141 | €351,965 | +€9,824 | +2.9% |
| Tangible fixed assets | 22/27 | €262,141 | €271,965 | +€9,824 | +3.7% |
| Land and buildings | 22 | €262,141 | €271,965 | +€9,824 | +3.7% |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €29,832 | €52,154 | +€22,322 | +74.8% |
| Amounts receivable within one year | 40/41 | - | €1,610 | +€1,610 | |
| Other amounts receivable | 41 | - | €1,610 | +€1,610 | |
| Cash at bank and in hand | 54/58 | €25,940 | €46,600 | +€20,659 | +79.6% |
| Deferred charges and accrued income | 490/1 | €3,892 | €3,944 | +€53 | +1.4% |
| Total equity and liabilities | 10/49 | €375,006 | €407,151 | +€32,145 | +8.6% |
| Equity | 10/15 | €372,011 | €394,334 | +€22,323 | +6.0% |
| Contributions | 10/11 | €72,000 | €72,000 | = | 0.0% |
| Capital | 10 | €72,000 | €72,000 | = | 0.0% |
| Issued capital | 100 | €72,000 | €72,000 | = | 0.0% |
| Reserves | 13 | €300,011 | €322,334 | +€22,323 | +7.4% |
| Non-distributable reserves | 130/1 | €7,200 | €7,200 | = | 0.0% |
| Legal reserve | 130 | €7,200 | €7,200 | = | 0.0% |
| Distributable reserves | 133 | €292,811 | €315,134 | +€22,323 | +7.6% |
| Amounts payable | 17/49 | €2,995 | €12,817 | +€9,822 | +327.9% |
| Amounts payable within one year | 42/48 | €2,995 | €12,817 | +€9,822 | +327.9% |
| Trade debts | 44 | €1,415 | €11,237 | +€9,822 | +694.0% |
| Suppliers | 440/4 | €1,415 | €11,237 | +€9,822 | +694.0% |
| Taxes, remuneration and social security | 45 | €1,580 | €1,580 | = | 0.0% |
| Taxes | 450/3 | €1,580 | €1,580 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €532 | €1,141 | +€609 | +114.5% |
| Other operating charges | 640/8 | €7,923 | €6,902 | -€1,021 | -12.9% |
| Gross operating margin | 9900 | €43,881 | €39,287 | -€4,594 | -10.5% |
| Operating profit (loss) | 9901 | €35,426 | €31,243 | -€4,183 | -11.8% |
| Financial income | 75/76B | €1,124 | €1,600 | +€476 | +42.4% |
| Recurring financial income | 75 | €1,124 | €1,600 | +€476 | +42.4% |
| Financial charges | 65/66B | €128 | €130 | +€2 | +1.2% |
| Recurring financial charges | 65 | €128 | €130 | +€2 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €36,421 | €32,714 | -€3,708 | -10.2% |
| Income taxes | 67/77 | €11,580 | €10,390 | -€1,190 | -10.3% |
| Profit (loss) for the period | 9904 | €24,841 | €22,323 | -€2,518 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,841 | €22,323 | -€2,518 | -10.1% |
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 29 September 2026 via checked.be.