GREMO: 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.
GREMO
Largest movements
- Financial fixed assets +€2.0m
new in 2025: €2.0m
- Receivables within one year -€447,755
down €447,755 (-95.8%), from €467,192 to €19,438
of which Trade receivables: -€466,400
- Tangible fixed assets +€205,501
up €205,501 (+5.9%), from €3.5m to €3.7m
of which Other tangible fixed assets: +€288,474
- Other debts +€2.0m
new in 2025: €2.0m
- Debts after one year -€284,465
down €284,465 (-29.1%), from €977,856 to €693,391
- Reserves +€249,744
up €249,744 (+13.6%), from €1.8m to €2.1m
of which Distributable reserves: +€249,744
- Tax, wage and social debts -€91,597
down €91,597 (-49.0%), from €186,847 to €95,250
- Trade debts -€72,481
down €72,481 (-95.9%), from €75,546 to €3,065
- Gross operating margin -€17,985
down €17,985 (-3.7%), from €479,938 to €461,953
- Taxes -€11,471
down €11,471 (-12.0%), from €95,250 to €83,779
- Depreciation -€5,370
down €5,370 (-5.3%), from €100,541 to €95,171
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 | €3,951,821 | €5,709,115 | +€1.8m | +44.5% |
| Fixed assets | 21/28 | €3,475,441 | €5,630,942 | +€2.2m | +62.0% |
| Tangible fixed assets | 22/27 | €3,475,441 | €3,680,942 | +€205,501 | +5.9% |
| Land and buildings | 22 | €1,232,643 | €1,149,670 | -€82,973 | -6.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €2,242,798 | €2,531,273 | +€288,474 | +12.9% |
| Financial fixed assets | 28 | - | €1,950,000 | +€2.0m | |
| Current assets | 29/58 | €476,380 | €78,173 | -€398,207 | -83.6% |
| Amounts receivable within one year | 40/41 | €467,192 | €19,438 | -€447,755 | -95.8% |
| Trade receivables | 40 | €466,400 | €0 | -€466,400 | -100.0% |
| Other amounts receivable | 41 | €792 | €19,438 | +€18,645 | +2353.2% |
| Cash at bank and in hand | 54/58 | €9,187 | €58,735 | +€49,548 | +539.3% |
| Total equity and liabilities | 10/49 | €3,951,821 | €5,709,115 | +€1.8m | +44.5% |
| Equity | 10/15 | €2,581,862 | €2,831,606 | +€249,744 | +9.7% |
| Contributions | 10/11 | €741,742 | €741,742 | = | 0.0% |
| Capital | 10 | €741,742 | €741,742 | = | 0.0% |
| Issued capital | 100 | €741,742 | €741,742 | = | 0.0% |
| Reserves | 13 | €1,840,120 | €2,089,864 | +€249,744 | +13.6% |
| Non-distributable reserves | 130/1 | €74,174 | €74,174 | = | 0.0% |
| Legal reserve | 130 | €74,174 | €74,174 | = | 0.0% |
| Distributable reserves | 133 | €1,765,946 | €2,015,690 | +€249,744 | +14.1% |
| Amounts payable | 17/49 | €1,369,959 | €2,877,509 | +€1.5m | +110.0% |
| Amounts payable after more than one year | 17 | €977,856 | €693,391 | -€284,465 | -29.1% |
| Financial debts | 170/4 | €977,856 | €693,391 | -€284,465 | -29.1% |
| Amounts payable within one year | 42/48 | €382,247 | €2,172,736 | +€1.8m | +468.4% |
| Current portion of amounts payable after more than one year | 42 | €119,854 | €124,421 | +€4,567 | +3.8% |
| Trade debts | 44 | €75,546 | €3,065 | -€72,481 | -95.9% |
| Suppliers | 440/4 | €75,546 | €3,065 | -€72,481 | -95.9% |
| Taxes, remuneration and social security | 45 | €186,847 | €95,250 | -€91,597 | -49.0% |
| Taxes | 450/3 | €186,847 | €95,250 | -€91,597 | -49.0% |
| Other amounts payable | 47/48 | - | €1,950,000 | +€2.0m | |
| Accrued charges and deferred income | 492/3 | €9,855 | €11,381 | +€1,526 | +15.5% |
| Non-recurring operating income | 76A | €300,672 | €300,672 | -€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,541 | €95,171 | -€5,370 | -5.3% |
| Other operating charges | 640/8 | €1,224 | €1,266 | +€43 | +3.5% |
| Gross operating margin | 9900 | €479,938 | €461,953 | -€17,985 | -3.7% |
| Operating profit (loss) | 9901 | €378,174 | €365,516 | -€12,657 | -3.3% |
| Financial charges | 65/66B | €28,696 | €31,993 | +€3,297 | +11.5% |
| Recurring financial charges | 65 | €28,696 | €31,993 | +€3,297 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €349,477 | €333,523 | -€15,954 | -4.6% |
| Income taxes | 67/77 | €95,250 | €83,779 | -€11,471 | -12.0% |
| Profit (loss) for the period | 9904 | €254,227 | €249,744 | -€4,483 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €254,227 | €249,744 | -€4,483 | -1.8% |
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 3 October 2026 via checked.be.