GREMA: 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.
GREMA
Largest movements
- Tangible fixed assets -€74,215
down €74,215 (-3.8%), from €1.9m to €1.9m
of which Land and buildings: -€74,145
- Cash +€60,318
up €60,318 (+2207.2%), from €2,733 to €63,051
mainly Net result for the year (+€183,963) and Depreciation (+€68,478)
- Receivables within one year -€27,173
down €27,173 (-97.1%), from €27,989 to €816
of which Other amounts receivable: -€27,989
- Profit (loss) carried forward +€203,156
up €203,156 (+22.4%), from -€905,630 to -€702,474
- Debts after one year -€191,985
down €191,985 (-56.1%), from €341,985 to €150,000
of which Other amounts payable: -€142,500
- Reserves -€43,071
down €43,071 (-3.8%), from €1.1m to €1.1m
of which Tax-exempt reserves: -€43,071
- Gross operating margin +€288,546
up €288,546 (+1427.7%), from €20,211 to €308,757
- Taxes +€57,319
up €57,319 (+22927.6%), from €250 to €57,569
- Financial charges +€15,398
up €15,398 (+497.1%), from €3,098 to €18,495
- Depreciation -€10,753
down €10,753 (-13.6%), from €79,231 to €68,478
- Other operating charges +€5,625
up €5,625 (+95.0%), from €5,922 to €11,548
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 | €1,982,866 | €1,927,681 | -€55,185 | -2.8% |
| Fixed assets | 21/28 | €1,938,030 | €1,863,815 | -€74,215 | -3.8% |
| Tangible fixed assets | 22/27 | €1,933,497 | €1,859,282 | -€74,215 | -3.8% |
| Land and buildings | 22 | €1,933,427 | €1,859,282 | -€74,145 | -3.8% |
| Plant, machinery and equipment | 23 | €70 | €0 | -€70 | -100.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €4,533 | €4,533 | = | 0.0% |
| Current assets | 29/58 | €44,836 | €63,867 | +€19,030 | +42.4% |
| Amounts receivable within one year | 40/41 | €27,989 | €816 | -€27,173 | -97.1% |
| Trade receivables | 40 | - | €816 | +€816 | |
| Other amounts receivable | 41 | €27,989 | - | -€27,989 | |
| Current investments | 50/53 | €14,115 | - | -€14,115 | |
| Cash at bank and in hand | 54/58 | €2,733 | €63,051 | +€60,318 | +2207.2% |
| Total equity and liabilities | 10/49 | €1,982,866 | €1,927,681 | -€55,185 | -2.8% |
| Equity | 10/15 | €1,301,435 | €1,461,521 | +€160,086 | +12.3% |
| Contributions | 10/11 | €1,072,924 | €1,072,924 | = | 0.0% |
| Capital | 10 | €1,072,000 | - | -€1.1m | |
| Issued capital | 100 | €1,072,000 | - | -€1.1m | |
| Outside capital | 11 | €924 | €1,072,924 | +€1.1m | +115984.7% |
| Share premium | 1100/10 | €924 | €924 | = | 0.0% |
| Other | 1109/19 | - | €1,072,000 | +€1.1m | |
| Reserves | 13 | €1,134,141 | €1,091,070 | -€43,071 | -3.8% |
| Non-distributable reserves | 130/1 | €24,831 | €24,831 | = | 0.0% |
| Legal reserve | 130 | €24,831 | €24,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €790,310 | €747,239 | -€43,071 | -5.4% |
| Distributable reserves | 133 | €319,000 | €319,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€905,630 | -€702,474 | +€203,156 | +22.4% |
| Provisions and deferred taxes | 16 | €322,720 | €303,527 | -€19,193 | -5.9% |
| Deferred taxes | 168 | €322,720 | €303,527 | -€19,193 | -5.9% |
| Amounts payable | 17/49 | €358,711 | €162,634 | -€196,077 | -54.7% |
| Amounts payable after more than one year | 17 | €341,985 | €150,000 | -€191,985 | -56.1% |
| Financial debts | 170/4 | €49,485 | - | -€49,485 | |
| Other amounts payable | 178/9 | €292,500 | €150,000 | -€142,500 | -48.7% |
| Amounts payable within one year | 42/48 | €16,726 | €12,634 | -€4,093 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €14,518 | - | -€14,518 | |
| Trade debts | 44 | €1,756 | €4,861 | +€3,105 | +176.8% |
| Suppliers | 440/4 | €1,756 | €4,861 | +€3,105 | +176.8% |
| Taxes, remuneration and social security | 45 | €250 | €7,567 | +€7,317 | +2926.7% |
| Taxes | 450/3 | €250 | €7,567 | +€7,317 | +2926.7% |
| Other amounts payable | 47/48 | €202 | €206 | +€4 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,231 | €68,478 | -€10,753 | -13.6% |
| Other operating charges | 640/8 | €5,922 | €11,548 | +€5,625 | +95.0% |
| Non-recurring operating charges | 66A | - | €11,775 | +€11,775 | |
| Gross operating margin | 9900 | €20,211 | €308,757 | +€288,546 | +1427.7% |
| Operating profit (loss) | 9901 | -€64,943 | €216,957 | +€281,899 | |
| Financial income | 75/76B | €660 | - | -€660 | |
| Recurring financial income | 75 | €516 | - | -€516 | |
| Non-recurring financial income | 76B | €144 | - | -€144 | |
| Financial charges | 65/66B | €3,098 | €18,495 | +€15,398 | +497.1% |
| Recurring financial charges | 65 | €3,098 | €18,495 | +€15,398 | +497.1% |
| Profit (loss) for the period before taxes | 9903 | -€67,380 | €198,461 | +€265,842 | |
| Transfer from deferred taxes | 780 | €43,071 | €43,071 | = | 0.0% |
| Income taxes | 67/77 | €250 | €57,569 | +€57,319 | +22927.6% |
| Profit (loss) for the period | 9904 | -€24,560 | €183,963 | +€208,523 | |
| Transfer from tax-exempt reserves | 789 | €19,193 | €19,193 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,367 | €203,156 | +€208,523 |
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 2 October 2026 via checked.be.