GREMA: 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.
GREMA
Largest movements
- Cash -€205,291
down €205,291 (-62.7%), from €327,406 to €122,114
mainly Receivables within one year (-€136,692) and Other debts (-€67,659)
- Receivables within one year +€136,692
up €136,692 (+24.4%), from €560,449 to €697,141
of which Other amounts receivable: +€188,615
- Tangible fixed assets -€28,614
down €28,614 (-10.8%), from €265,127 to €236,513
of which Other tangible fixed assets: -€27,162
- Stocks and contracts -€16,140
down €16,140 (-7.2%), from €224,960 to €208,820
- Other debts -€67,659
down €67,659 (-90.5%), from €74,734 to €7,075
- Short-term financial debts -€40,857
down €40,857 (-17.7%), from €231,069 to €190,212
- Trade debts -€21,249
down €21,249 (-10.0%), from €212,211 to €190,961
- Debts after one year +€14,321
up €14,321 (+3.9%), from €365,907 to €380,229
of which Trade debts: +€9,913
- Staff costs +€72,765
up €72,765 (+19.3%), from €377,089 to €449,854
- Gross operating margin +€22,858
up €22,858 (+4.6%), from €500,688 to €523,546
- Taxes -€11,762
down €11,762 (-73.6%), from €15,973 to €4,210
- Financial income +€8,108
up €8,108 (+431.9%), from €1,877 to €9,985
- Financial charges +€7,373
up €7,373 (+37.5%), from €19,654 to €27,027
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 | €1,383,690 | €1,274,829 | -€108,861 | -7.9% |
| Fixed assets | 21/28 | €265,127 | €236,513 | -€28,614 | -10.8% |
| Tangible fixed assets | 22/27 | €265,127 | €236,513 | -€28,614 | -10.8% |
| Plant, machinery and equipment | 23 | €38,152 | €36,700 | -€1,452 | -3.8% |
| Other tangible fixed assets | 26 | €226,975 | €199,813 | -€27,162 | -12.0% |
| Current assets | 29/58 | €1,118,564 | €1,038,316 | -€80,248 | -7.2% |
| Stocks and contracts in progress | 3 | €224,960 | €208,820 | -€16,140 | -7.2% |
| Stocks | 30/36 | €224,960 | €208,820 | -€16,140 | -7.2% |
| Amounts receivable within one year | 40/41 | €560,449 | €697,141 | +€136,692 | +24.4% |
| Trade receivables | 40 | €125,197 | €73,275 | -€51,922 | -41.5% |
| Other amounts receivable | 41 | €435,251 | €623,866 | +€188,615 | +43.3% |
| Cash at bank and in hand | 54/58 | €327,406 | €122,114 | -€205,291 | -62.7% |
| Deferred charges and accrued income | 490/1 | €5,749 | €10,240 | +€4,491 | +78.1% |
| Total equity and liabilities | 10/49 | €1,383,690 | €1,274,829 | -€108,861 | -7.9% |
| Equity | 10/15 | €423,688 | €433,329 | +€9,641 | +2.3% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €374,110 | €383,751 | +€9,641 | +2.6% |
| Distributable reserves | 133 | €374,110 | €383,751 | +€9,641 | +2.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €960,002 | €841,500 | -€118,503 | -12.3% |
| Amounts payable after more than one year | 17 | €365,907 | €380,229 | +€14,321 | +3.9% |
| Financial debts | 170/4 | - | €4,408 | +€4,408 | |
| Trade debts | 175 | €365,907 | €375,821 | +€9,913 | +2.7% |
| Amounts payable within one year | 42/48 | €594,095 | €461,271 | -€132,824 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,649 | +€1,649 | |
| Financial debts | 43 | €231,069 | €190,212 | -€40,857 | -17.7% |
| Credit institutions | 430/8 | €231,069 | €190,212 | -€40,857 | -17.7% |
| Trade debts | 44 | €212,211 | €190,961 | -€21,249 | -10.0% |
| Suppliers | 440/4 | €212,211 | €190,961 | -€21,249 | -10.0% |
| Taxes, remuneration and social security | 45 | €76,080 | €71,373 | -€4,707 | -6.2% |
| Taxes | 450/3 | €6,187 | €3,175 | -€3,013 | -48.7% |
| Remuneration and social security | 454/9 | €69,893 | €68,198 | -€1,695 | -2.4% |
| Other amounts payable | 47/48 | €74,734 | €7,075 | -€67,659 | -90.5% |
| Remuneration, social security and pensions | 62 | €377,089 | €449,854 | +€72,765 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,625 | €35,471 | -€4,154 | -10.5% |
| Other operating charges | 640/8 | €2,291 | €7,327 | +€5,037 | +219.9% |
| Gross operating margin | 9900 | €500,688 | €523,546 | +€22,858 | +4.6% |
| Operating profit (loss) | 9901 | €81,683 | €30,894 | -€50,790 | -62.2% |
| Financial income | 75/76B | €1,877 | €9,985 | +€8,108 | +431.9% |
| Recurring financial income | 75 | €1,877 | €9,985 | +€8,108 | +431.9% |
| Financial charges | 65/66B | €19,654 | €27,027 | +€7,373 | +37.5% |
| Recurring financial charges | 65 | €19,654 | €27,027 | +€7,373 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €63,907 | €13,852 | -€50,055 | -78.3% |
| Income taxes | 67/77 | €15,973 | €4,210 | -€11,762 | -73.6% |
| Profit (loss) for the period | 9904 | €47,934 | €9,641 | -€38,293 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,934 | €9,641 | -€38,293 | -79.9% |
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 9 October 2026 via checked.be.