GRESI: 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.
GRESI
Largest movements
- Cash +€57,127
up €57,127 (+23.5%), from €242,766 to €299,893
mainly Net result for the year (+€35,412) and Stocks and contracts (+€32,838)
- Stocks and contracts -€32,838
down €32,838 (-19.6%), from €167,866 to €135,028
- Tangible fixed assets -€23,342
down €23,342 (-28.8%), from €81,091 to €57,749
of which Furniture and vehicles: -€19,933
- Receivables within one year -€6,754
down €6,754 (-37.0%), from €18,274 to €11,520
of which Trade receivables: -€4,940
- Debts after one year -€44,671
down €44,671 (-52.8%), from €84,535 to €39,864
- Other debts +€25,650
up €25,650 (+151.0%), from €16,985 to €42,634
- Trade debts +€6,415
up €6,415 (+70.1%), from €9,153 to €15,568
- Gross operating margin +€43,471
up €43,471 (+39.3%), from €110,567 to €154,037
- Taxes +€9,960
up €9,960 (+184.4%), from €5,402 to €15,362
- Staff costs +€9,788
up €9,788 (+13.1%), from €74,644 to €84,432
- Other operating charges -€3,534
down €3,534 (-66.5%), from €5,313 to €1,779
- Financial charges -€3,511
down €3,511 (-21.9%), from €16,037 to €12,525
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 | €512,231 | €506,748 | -€5,483 | -1.1% |
| Fixed assets | 21/28 | €81,091 | €57,919 | -€23,172 | -28.6% |
| Tangible fixed assets | 22/27 | €81,091 | €57,749 | -€23,342 | -28.8% |
| Plant, machinery and equipment | 23 | €5,570 | €4,014 | -€1,557 | -27.9% |
| Furniture and vehicles | 24 | €61,874 | €41,941 | -€19,933 | -32.2% |
| Other tangible fixed assets | 26 | €13,646 | €11,794 | -€1,852 | -13.6% |
| Financial fixed assets | 28 | - | €170 | +€170 | |
| Current assets | 29/58 | €431,140 | €448,829 | +€17,689 | +4.1% |
| Stocks and contracts in progress | 3 | €167,866 | €135,028 | -€32,838 | -19.6% |
| Stocks | 30/36 | €167,866 | €135,028 | -€32,838 | -19.6% |
| Amounts receivable within one year | 40/41 | €18,274 | €11,520 | -€6,754 | -37.0% |
| Trade receivables | 40 | €5,510 | €571 | -€4,940 | -89.6% |
| Other amounts receivable | 41 | €12,764 | €10,949 | -€1,815 | -14.2% |
| Cash at bank and in hand | 54/58 | €242,766 | €299,893 | +€57,127 | +23.5% |
| Deferred charges and accrued income | 490/1 | €2,234 | €2,388 | +€155 | +6.9% |
| Total equity and liabilities | 10/49 | €512,231 | €506,748 | -€5,483 | -1.1% |
| Equity | 10/15 | €313,228 | €317,952 | +€4,724 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €204,307 | €209,031 | +€4,724 | +2.3% |
| Distributable reserves | 133 | €204,307 | €209,031 | +€4,724 | +2.3% |
| Profit (loss) carried forward | 14 | €102,721 | €102,721 | = | 0.0% |
| Amounts payable | 17/49 | €199,003 | €188,796 | -€10,207 | -5.1% |
| Amounts payable after more than one year | 17 | €84,535 | €39,864 | -€44,671 | -52.8% |
| Financial debts | 170/4 | €84,535 | €39,864 | -€44,671 | -52.8% |
| Amounts payable within one year | 42/48 | €114,468 | €148,932 | +€34,464 | +30.1% |
| Current portion of amounts payable after more than one year | 42 | €42,681 | €44,671 | +€1,990 | +4.7% |
| Trade debts | 44 | €9,153 | €15,568 | +€6,415 | +70.1% |
| Suppliers | 440/4 | €9,153 | €15,568 | +€6,415 | +70.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €45,649 | €46,059 | +€410 | +0.9% |
| Taxes | 450/3 | €38,129 | €38,744 | +€615 | +1.6% |
| Remuneration and social security | 454/9 | €7,520 | €7,315 | -€205 | -2.7% |
| Other amounts payable | 47/48 | €16,985 | €42,634 | +€25,650 | +151.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €74,644 | €84,432 | +€9,788 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,324 | €23,342 | +€18 | +0.1% |
| Other operating charges | 640/8 | €5,313 | €1,779 | -€3,534 | -66.5% |
| Gross operating margin | 9900 | €110,567 | €154,037 | +€43,471 | +39.3% |
| Operating profit (loss) | 9901 | €7,286 | €44,485 | +€37,199 | +510.6% |
| Financial income | 75/76B | €22,296 | €18,815 | -€3,481 | -15.6% |
| Recurring financial income | 75 | €22,296 | €18,815 | -€3,481 | -15.6% |
| Financial charges | 65/66B | €16,037 | €12,525 | -€3,511 | -21.9% |
| Recurring financial charges | 65 | €16,037 | €12,525 | -€3,511 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €13,546 | €50,775 | +€37,229 | +274.8% |
| Income taxes | 67/77 | €5,402 | €15,362 | +€9,960 | +184.4% |
| Profit (loss) for the period | 9904 | €8,143 | €35,412 | +€27,269 | +334.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,143 | €35,412 | +€27,269 | +334.9% |
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 6 October 2026 via checked.be.