GRETERCO: 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.
GRETERCO
Largest movements
- Tangible fixed assets -€79,736
down €79,736 (-13.7%), from €580,627 to €500,891
of which Leasing and similar rights: -€56,465
- Receivables within one year +€44,556
up €44,556 (+94.8%), from €47,013 to €91,569
of which Trade receivables: +€46,634
- Cash -€24,384
down €24,384 (-18.4%), from €132,323 to €107,939
mainly Debts after one year (-€71,083) and Trade debts (-€47,607)
- Profit (loss) carried forward +€89,807
up €89,807 (+176%), from €51,003 to €140,810
- Debts after one year -€71,083
down €71,083 (-17.7%), from €401,471 to €330,389
- Trade debts -€47,607
down €47,607 (-39.9%), from €119,207 to €71,600
- Current portion of long-term debt -€30,621
down €30,621 (-29.6%), from €103,375 to €72,755
- Other debts +€9,527
up €9,527 (+31.2%), from €30,572 to €40,099
- Gross operating margin +€224,240
up €224,240 (+87.9%), from €255,070 to €479,310
- Taxes +€29,655
up €29,655 (+8,493%), from €349 to €30,005
- Staff costs -€16,500
down €16,500 (-7.8%), from €211,108 to €194,608
- Depreciation +€7,733
up €7,733 (+8.8%), from €87,906 to €95,639
- Financial charges +€5,647
up €5,647 (+31.5%), from €17,922 to €23,569
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 | €763,986 | €705,570 | -€58,416 | -7.6% |
| Fixed assets | 21/28 | €580,627 | €500,891 | -€79,736 | -13.7% |
| Tangible fixed assets | 22/27 | €580,627 | €500,891 | -€79,736 | -13.7% |
| Land and buildings | 22 | €386,838 | €362,596 | -€24,242 | -6.3% |
| Plant, machinery and equipment | 23 | €23,708 | €15,672 | -€8,036 | -33.9% |
| Furniture and vehicles | 24 | €6,214 | €15,220 | +€9,006 | +145% |
| Leasing and similar rights | 25 | €163,867 | €107,402 | -€56,465 | -34.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €183,359 | €204,679 | +€21,320 | +11.6% |
| Amounts receivable within one year | 40/41 | €47,013 | €91,569 | +€44,556 | +94.8% |
| Trade receivables | 40 | €4,130 | €50,764 | +€46,634 | +1,129% |
| Other amounts receivable | 41 | €42,883 | €40,804 | -€2,078 | -4.8% |
| Cash at bank and in hand | 54/58 | €132,323 | €107,939 | -€24,384 | -18.4% |
| Deferred charges and accrued income | 490/1 | €4,023 | €5,171 | +€1,148 | +28.5% |
| Total equity and liabilities | 10/49 | €763,986 | €705,570 | -€58,416 | -7.6% |
| Equity | 10/15 | €93,111 | €181,888 | +€88,777 | +95.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,360 | €4,360 | = | 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% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,003 | €140,810 | +€89,807 | +176% |
| Investment grants | 15 | €19,148 | €18,118 | -€1,030 | -5.4% |
| Amounts payable | 17/49 | €670,874 | €523,681 | -€147,193 | -21.9% |
| Amounts payable after more than one year | 17 | €401,471 | €330,389 | -€71,083 | -17.7% |
| Financial debts | 170/4 | €401,471 | €330,389 | -€71,083 | -17.7% |
| Amounts payable within one year | 42/48 | €269,403 | €193,292 | -€76,111 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €103,375 | €72,755 | -€30,621 | -29.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €119,207 | €71,600 | -€47,607 | -39.9% |
| Suppliers | 440/4 | €119,207 | €71,600 | -€47,607 | -39.9% |
| Taxes, remuneration and social security | 45 | €16,249 | €8,840 | -€7,409 | -45.6% |
| Taxes | 450/3 | €16,249 | €6,947 | -€9,302 | -57.2% |
| Remuneration and social security | 454/9 | €0 | €1,893 | +€1,893 | |
| Other amounts payable | 47/48 | €30,572 | €40,099 | +€9,527 | +31.2% |
| Non-recurring operating income | 76A | €7,905 | €9,601 | +€1,696 | +21.5% |
| Remuneration, social security and pensions | 62 | €211,108 | €194,608 | -€16,500 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,906 | €95,639 | +€7,733 | +8.8% |
| Other operating charges | 640/8 | €13,836 | €11,754 | -€2,082 | -15.0% |
| Non-recurring operating charges | 66A | €2,520 | €0 | -€2,520 | -100% |
| Gross operating margin | 9900 | €255,070 | €479,310 | +€224,240 | +87.9% |
| Operating profit (loss) | 9901 | -€60,300 | €177,309 | +€237,609 | |
| Financial income | 75/76B | €1,118 | €1,366 | +€248 | +22.2% |
| Recurring financial income | 75 | €1,118 | €1,366 | +€248 | +22.2% |
| Financial charges | 65/66B | €17,922 | €23,569 | +€5,647 | +31.5% |
| Recurring financial charges | 65 | €17,922 | €23,569 | +€5,647 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | -€77,104 | €155,106 | +€232,210 | |
| Income taxes | 67/77 | €349 | €30,005 | +€29,655 | +8,493% |
| Profit (loss) for the period | 9904 | -€77,453 | €125,101 | +€202,554 | |
| Profit (loss) for the period to be appropriated | 9905 | -€77,453 | €125,101 | +€202,554 |
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.