GREMATEX: 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.
GREMATEX
Largest movements
- Cash +€134,565
up €134,565 (+76.2%), from €176,571 to €311,136
mainly Net result for the year (+€234,786) and Depreciation (+€48,943)
- Current investments +€65,133
up €65,133 (+127%), from €51,475 to €116,607
- Tangible fixed assets -€47,700
down €47,700 (-19.7%), from €242,726 to €195,026
- Receivables within one year +€40,159
up €40,159 (+24.7%), from €162,805 to €202,963
of which Other amounts receivable: +€22,994
- Reserves +€138,500
up €138,500 (+29.1%), from €475,697 to €614,197
of which Distributable reserves: +€138,500
- Trade debts -€49,303
down €49,303 (-74.6%), from €66,046 to €16,744
- Tax, wage and social debts +€37,132
up €37,132 (+73.9%), from €50,237 to €87,369
of which Taxes: +€27,565
- Profit (loss) carried forward +€34,786
up €34,786 (+17.7%), from €196,767 to €231,553
- Short-term financial debts +€28,158
up €28,158 (+67.4%), from €41,783 to €69,941
- Gross operating margin +€160,437
up €160,437 (+35.6%), from €451,238 to €611,675
- Taxes +€42,137
up €42,137 (+67.5%), from €62,442 to €104,579
- Staff costs +€19,921
up €19,921 (+10.1%), from €197,790 to €217,710
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.
Derived cash bridge
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 | €892,564 | €1,081,837 | +€189,273 | +21.2% |
| Fixed assets | 21/28 | €248,617 | €200,917 | -€47,700 | -19.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €242,726 | €195,026 | -€47,700 | -19.7% |
| Land and buildings | 22 | €137,602 | €122,012 | -€15,591 | -11.3% |
| Plant, machinery and equipment | 23 | €78,715 | €57,267 | -€21,447 | -27.2% |
| Furniture and vehicles | 24 | €26,409 | €15,747 | -€10,662 | -40.4% |
| Financial fixed assets | 28 | €5,891 | €5,891 | = | 0.0% |
| Current assets | 29/58 | €643,947 | €880,921 | +€236,974 | +36.8% |
| Stocks and contracts in progress | 3 | €248,129 | €246,611 | -€1,518 | -0.6% |
| Stocks | 30/36 | €248,129 | €246,611 | -€1,518 | -0.6% |
| Amounts receivable within one year | 40/41 | €162,805 | €202,963 | +€40,159 | +24.7% |
| Trade receivables | 40 | €9,502 | €26,667 | +€17,165 | +181% |
| Other amounts receivable | 41 | €153,302 | €176,296 | +€22,994 | +15.0% |
| Current investments | 50/53 | €51,475 | €116,607 | +€65,133 | +127% |
| Cash at bank and in hand | 54/58 | €176,571 | €311,136 | +€134,565 | +76.2% |
| Deferred charges and accrued income | 490/1 | €4,968 | €3,603 | -€1,365 | -27.5% |
| Total equity and liabilities | 10/49 | €892,564 | €1,081,837 | +€189,273 | +21.2% |
| Equity | 10/15 | €734,438 | €907,724 | +€173,286 | +23.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €475,697 | €614,197 | +€138,500 | +29.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €469,500 | €608,000 | +€138,500 | +29.5% |
| Profit (loss) carried forward | 14 | €196,767 | €231,553 | +€34,786 | +17.7% |
| Amounts payable | 17/49 | €158,126 | €174,114 | +€15,987 | +10.1% |
| Amounts payable within one year | 42/48 | €158,066 | €174,054 | +€15,987 | +10.1% |
| Financial debts | 43 | €41,783 | €69,941 | +€28,158 | +67.4% |
| Credit institutions | 430/8 | €41,783 | €69,941 | +€28,158 | +67.4% |
| Trade debts | 44 | €66,046 | €16,744 | -€49,303 | -74.6% |
| Suppliers | 440/4 | €66,046 | €16,744 | -€49,303 | -74.6% |
| Taxes, remuneration and social security | 45 | €50,237 | €87,369 | +€37,132 | +73.9% |
| Taxes | 450/3 | €29,428 | €56,993 | +€27,565 | +93.7% |
| Remuneration and social security | 454/9 | €20,809 | €30,377 | +€9,568 | +46.0% |
| Accrued charges and deferred income | 492/3 | €60 | €60 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €197,790 | €217,710 | +€19,921 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,953 | €48,943 | -€10 | 0.0% |
| Other operating charges | 640/8 | €10,864 | €12,392 | +€1,527 | +14.1% |
| Gross operating margin | 9900 | €451,238 | €611,675 | +€160,437 | +35.6% |
| Operating profit (loss) | 9901 | €193,631 | €332,630 | +€138,999 | +71.8% |
| Financial income | 75/76B | €8,273 | €8,292 | +€19 | +0.2% |
| Recurring financial income | 75 | €8,273 | €8,292 | +€19 | +0.2% |
| Financial charges | 65/66B | €1,379 | €1,557 | +€177 | +12.9% |
| Recurring financial charges | 65 | €1,379 | €1,557 | +€177 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €200,524 | €339,365 | +€138,841 | +69.2% |
| Income taxes | 67/77 | €62,442 | €104,579 | +€42,137 | +67.5% |
| Profit (loss) for the period | 9904 | €138,082 | €234,786 | +€96,703 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €138,082 | €234,786 | +€96,703 | +70.0% |
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 25 October 2026 via checked.be.