GREMIBEL: 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.
GREMIBEL
Largest movements
- Tangible fixed assets +€61,401
up €61,401 (+195%), from €31,436 to €92,837
- Cash +€46,388
up €46,388 (+245%), from €18,960 to €65,349
mainly Debts after one year (+€43,331) and Depreciation (+€29,860)
- Receivables within one year -€12,628
down €12,628 (-14.4%), from €87,840 to €75,212
of which Trade receivables: -€14,355
- Stocks and contracts -€3,500
down €3,500 (-8.6%), from €40,859 to €37,359
- Debts after one year +€43,331
up €43,331 (+153%), from €28,345 to €71,676
- Current portion of long-term debt +€26,736
up €26,736 (+384%), from €6,957 to €33,693
- Profit (loss) carried forward +€10,317
up €10,317 (+43.2%), from €23,884 to €34,201
- Trade debts +€7,209
up €7,209 (+38.8%), from €18,566 to €25,775
- Tax, wage and social debts +€4,983
up €4,983 (+28.1%), from €17,737 to €22,720
of which Remuneration and social security: +€3,499
- Depreciation +€18,252
up €18,252 (+157%), from €11,608 to €29,860
- Gross operating margin +€11,134
up €11,134 (+7.3%), from €152,539 to €163,673
- Other operating charges +€7,017
up €7,017 (+1,060%), from €662 to €7,680
- Taxes -€6,363
down €6,363 (-76.1%), from €8,363 to €2,000
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 | €193,912 | €286,188 | +€92,276 | +47.6% |
| Fixed assets | 21/28 | €41,061 | €102,462 | +€61,401 | +150% |
| Tangible fixed assets | 22/27 | €31,436 | €92,837 | +€61,401 | +195% |
| Furniture and vehicles | 24 | €31,436 | €92,837 | +€61,401 | +195% |
| Financial fixed assets | 28 | €9,625 | €9,625 | = | 0.0% |
| Current assets | 29/58 | €152,851 | €183,727 | +€30,875 | +20.2% |
| Stocks and contracts in progress | 3 | €40,859 | €37,359 | -€3,500 | -8.6% |
| Stocks | 30/36 | €40,859 | €37,359 | -€3,500 | -8.6% |
| Amounts receivable within one year | 40/41 | €87,840 | €75,212 | -€12,628 | -14.4% |
| Trade receivables | 40 | €87,840 | €73,485 | -€14,355 | -16.3% |
| Other amounts receivable | 41 | - | €1,727 | +€1,727 | |
| Cash at bank and in hand | 54/58 | €18,960 | €65,349 | +€46,388 | +245% |
| Deferred charges and accrued income | 490/1 | €5,192 | €5,807 | +€615 | +11.8% |
| Total equity and liabilities | 10/49 | €193,912 | €286,188 | +€92,276 | +47.6% |
| Equity | 10/15 | €44,344 | €54,661 | +€10,317 | +23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,884 | €34,201 | +€10,317 | +43.2% |
| Amounts payable | 17/49 | €149,568 | €231,527 | +€81,959 | +54.8% |
| Amounts payable after more than one year | 17 | €28,345 | €71,676 | +€43,331 | +153% |
| Financial debts | 170/4 | €28,345 | €71,676 | +€43,331 | +153% |
| Amounts payable within one year | 42/48 | €121,223 | €159,852 | +€38,629 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €6,957 | €33,693 | +€26,736 | +384% |
| Trade debts | 44 | €18,566 | €25,775 | +€7,209 | +38.8% |
| Suppliers | 440/4 | €18,566 | €25,775 | +€7,209 | +38.8% |
| Advances received on contracts in progress | 46 | €6,547 | €6,547 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,737 | €22,720 | +€4,983 | +28.1% |
| Taxes | 450/3 | €13,136 | €14,619 | +€1,483 | +11.3% |
| Remuneration and social security | 454/9 | €4,602 | €8,101 | +€3,499 | +76.1% |
| Other amounts payable | 47/48 | €71,416 | €71,117 | -€299 | -0.4% |
| Remuneration, social security and pensions | 62 | €117,986 | €116,699 | -€1,286 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,608 | €29,860 | +€18,252 | +157% |
| Other operating charges | 640/8 | €662 | €7,680 | +€7,017 | +1,060% |
| Gross operating margin | 9900 | €152,539 | €163,673 | +€11,134 | +7.3% |
| Operating profit (loss) | 9901 | €22,283 | €9,434 | -€12,849 | -57.7% |
| Financial income | 75/76B | €1,141 | - | -€1,141 | |
| Recurring financial income | 75 | €1,141 | - | -€1,141 | |
| Financial charges | 65/66B | €2,371 | €2,717 | +€346 | +14.6% |
| Recurring financial charges | 65 | €2,371 | €2,717 | +€346 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €21,054 | €6,717 | -€14,337 | -68.1% |
| Income taxes | 67/77 | €8,363 | €2,000 | -€6,363 | -76.1% |
| Profit (loss) for the period | 9904 | €12,691 | €4,717 | -€7,974 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,691 | €4,717 | -€7,974 | -62.8% |
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 20 October 2026 via checked.be.