Grenox: 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.
Grenox
Largest movements
- Cash +€46,314
up €46,314 (+1,420%), from €3,262 to €49,576
mainly Stocks and contracts (+€23,968) and Depreciation (+€20,895)
- Stocks and contracts -€23,968
down €23,968 (-44.2%), from €54,237 to €30,269
- Receivables within one year -€14,000
down €14,000 (-15.0%), from €93,373 to €79,373
of which Trade receivables: -€17,494
- Tangible fixed assets -€10,040
down €10,040 (-25.7%), from €39,117 to €29,078
of which Furniture and vehicles: -€7,100
- Deferred charges and accrued income -€3,638
down €3,638 (-74.6%), from €4,875 to €1,237
- Trade debts -€33,769
down €33,769 (-65.1%), from €51,894 to €18,125
- Short-term financial debts +€18,000
up €18,000 (+150%), from €12,000 to €30,000
of which Credit institutions: +€25,000
- Reserves +€7,595
up €7,595 (+8.0%), from €94,856 to €102,451
- Other debts +€2,080
up €2,080 (+9.1%), from €22,875 to €24,955
- Gross operating margin -€31,030
down €31,030 (-45.4%), from €68,347 to €37,317
- Taxes -€8,895
down €8,895 (-72.9%), from €12,208 to €3,313
- Depreciation +€1,881
up €1,881 (+9.9%), from €19,014 to €20,895
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 | €195,664 | €191,532 | -€4,132 | -2.1% |
| Fixed assets | 21/28 | €39,917 | €31,078 | -€8,840 | -22.1% |
| Tangible fixed assets | 22/27 | €39,117 | €29,078 | -€10,040 | -25.7% |
| Plant, machinery and equipment | 23 | €10,618 | €7,679 | -€2,939 | -27.7% |
| Furniture and vehicles | 24 | €28,499 | €21,399 | -€7,100 | -24.9% |
| Financial fixed assets | 28 | €800 | €2,000 | +€1,200 | +150% |
| Current assets | 29/58 | €155,747 | €160,455 | +€4,708 | +3.0% |
| Stocks and contracts in progress | 3 | €54,237 | €30,269 | -€23,968 | -44.2% |
| Stocks | 30/36 | €54,237 | €30,269 | -€23,968 | -44.2% |
| Amounts receivable within one year | 40/41 | €93,373 | €79,373 | -€14,000 | -15.0% |
| Trade receivables | 40 | €93,363 | €75,869 | -€17,494 | -18.7% |
| Other amounts receivable | 41 | €10 | €3,504 | +€3,494 | +34,941% |
| Cash at bank and in hand | 54/58 | €3,262 | €49,576 | +€46,314 | +1,420% |
| Deferred charges and accrued income | 490/1 | €4,875 | €1,237 | -€3,638 | -74.6% |
| Total equity and liabilities | 10/49 | €195,664 | €191,532 | -€4,132 | -2.1% |
| Equity | 10/15 | €101,056 | €108,651 | +€7,595 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €94,856 | €102,451 | +€7,595 | +8.0% |
| Distributable reserves | 133 | €94,856 | €102,451 | +€7,595 | +8.0% |
| Amounts payable | 17/49 | €94,608 | €82,882 | -€11,727 | -12.4% |
| Amounts payable after more than one year | 17 | €0 | €1,900 | +€1,900 | |
| Financial debts | 170/4 | €0 | €1,900 | +€1,900 | |
| Amounts payable within one year | 42/48 | €94,608 | €80,982 | -€13,626 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €6,554 | €7,198 | +€644 | +9.8% |
| Financial debts | 43 | €12,000 | €30,000 | +€18,000 | +150% |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Other loans | 439 | €12,000 | €5,000 | -€7,000 | -58.3% |
| Trade debts | 44 | €51,894 | €18,125 | -€33,769 | -65.1% |
| Suppliers | 440/4 | €51,894 | €18,125 | -€33,769 | -65.1% |
| Taxes, remuneration and social security | 45 | €1,285 | €704 | -€581 | -45.2% |
| Taxes | 450/3 | €1,285 | €704 | -€581 | -45.2% |
| Other amounts payable | 47/48 | €22,875 | €24,955 | +€2,080 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,014 | €20,895 | +€1,881 | +9.9% |
| Other operating charges | 640/8 | €1,738 | €1,087 | -€651 | -37.4% |
| Gross operating margin | 9900 | €68,347 | €37,317 | -€31,030 | -45.4% |
| Operating profit (loss) | 9901 | €47,595 | €15,335 | -€32,260 | -67.8% |
| Financial income | 75/76B | €207 | €515 | +€308 | +148% |
| Recurring financial income | 75 | €207 | €515 | +€308 | +148% |
| Financial charges | 65/66B | €4,584 | €4,941 | +€357 | +7.8% |
| Recurring financial charges | 65 | €4,584 | €4,941 | +€357 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €43,218 | €10,908 | -€32,309 | -74.8% |
| Income taxes | 67/77 | €12,208 | €3,313 | -€8,895 | -72.9% |
| Profit (loss) for the period | 9904 | €31,010 | €7,595 | -€23,415 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,010 | €7,595 | -€23,415 | -75.5% |
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 17 October 2026 via checked.be.