GREPO: 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.
GREPO
Largest movements
- Cash +€12,513
up €12,513 (+21.0%), from €59,612 to €72,125
mainly Net result for the year (+€8,585) and Depreciation (+€4,837)
- Tangible fixed assets -€4,010
down €4,010 (-34.4%), from €11,674 to €7,664
of which Furniture and vehicles: -€4,756
- Receivables within one year +€968
up €968 (+7.4%), from €13,009 to €13,977
of which Other amounts receivable: +€968
- Reserves +€8,500
up €8,500 (+11.4%), from €74,500 to €83,000
- Tax, wage and social debts +€1,266
up €1,266 (+14.3%), from €8,884 to €10,150
- Gross operating margin +€6,786
up €6,786 (+42.4%), from €15,992 to €22,778
- Taxes +€2,167
up €2,167 (+50.8%), from €4,267 to €6,434
- Depreciation +€696
up €696 (+16.8%), from €4,141 to €4,837
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,296 | €93,767 | +€9,471 | +11.2% |
| Fixed assets | 21/28 | €11,674 | €7,664 | -€4,010 | -34.4% |
| Tangible fixed assets | 22/27 | €11,674 | €7,664 | -€4,010 | -34.4% |
| Plant, machinery and equipment | 23 | €62 | €807 | +€746 | +1209.1% |
| Furniture and vehicles | 24 | €11,613 | €6,857 | -€4,756 | -41.0% |
| Current assets | 29/58 | €72,621 | €86,103 | +€13,481 | +18.6% |
| Amounts receivable within one year | 40/41 | €13,009 | €13,977 | +€968 | +7.4% |
| Trade receivables | 40 | €6,935 | €6,935 | = | 0.0% |
| Other amounts receivable | 41 | €6,074 | €7,042 | +€968 | +15.9% |
| Cash at bank and in hand | 54/58 | €59,612 | €72,125 | +€12,513 | +21.0% |
| Total equity and liabilities | 10/49 | €84,296 | €93,767 | +€9,471 | +11.2% |
| Equity | 10/15 | €74,997 | €83,582 | +€8,585 | +11.4% |
| Reserves | 13 | €74,500 | €83,000 | +€8,500 | +11.4% |
| Distributable reserves | 133 | €74,500 | €83,000 | +€8,500 | +11.4% |
| Profit (loss) carried forward | 14 | €497 | €582 | +€85 | +17.1% |
| Amounts payable | 17/49 | €9,299 | €10,185 | +€886 | +9.5% |
| Amounts payable within one year | 42/48 | €9,299 | €10,185 | +€886 | +9.5% |
| Trade debts | 44 | €415 | €35 | -€380 | -91.7% |
| Suppliers | 440/4 | €415 | €35 | -€380 | -91.7% |
| Taxes, remuneration and social security | 45 | €8,884 | €10,150 | +€1,266 | +14.3% |
| Taxes | 450/3 | €8,884 | €10,150 | +€1,266 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,141 | €4,837 | +€696 | +16.8% |
| Other operating charges | 640/8 | €3,366 | €3,330 | -€36 | -1.1% |
| Gross operating margin | 9900 | €15,992 | €22,778 | +€6,786 | +42.4% |
| Operating profit (loss) | 9901 | €8,485 | €14,612 | +€6,127 | +72.2% |
| Financial income | 75/76B | €509 | €458 | -€51 | -10.0% |
| Recurring financial income | 75 | €494 | €458 | -€36 | -7.3% |
| Non-recurring financial income | 76B | €15 | - | -€15 | |
| Financial charges | 65/66B | €41 | €51 | +€9 | +23.0% |
| Recurring financial charges | 65 | €41 | €51 | +€9 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €8,952 | €15,019 | +€6,067 | +67.8% |
| Income taxes | 67/77 | €4,267 | €6,434 | +€2,167 | +50.8% |
| Profit (loss) for the period | 9904 | €4,685 | €8,585 | +€3,900 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,685 | €8,585 | +€3,900 | +83.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.