GREUND: 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.
GREUND
Largest movements
- Cash +€167,643
up €167,643 (+158.0%), from €106,113 to €273,756
mainly Other debts (+€200,000) and Stocks and contracts (+€135,870)
- Stocks and contracts -€135,870
down €135,870 (-100.0%), from €135,870 to €0
- Receivables within one year -€112,310
down €112,310 (-100.0%), from €112,310 to €0
- Reserves -€250,000
down €250,000 (-97.5%), from €256,510 to €6,510
of which Distributable reserves: -€250,000
- Other debts +€200,000
new in 2025: €200,000
- Tax, wage and social debts -€27,430
down €27,430 (-100.0%), from €27,430 to €0
- Financial charges +€101,694
up €101,694 (+1197.8%), from €8,490 to €110,184
- Gross operating margin -€56,631
down €56,631 (-50.5%), from €112,231 to €55,600
- Taxes -€17,996
down €17,996 (-100.0%), from €17,996 to €0
- Financial income +€2,454
new in 2025: €2,454
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 | €354,293 | €273,756 | -€80,537 | -22.7% |
| Current assets | 29/58 | €354,293 | €273,756 | -€80,537 | -22.7% |
| Stocks and contracts in progress | 3 | €135,870 | €0 | -€135,870 | -100.0% |
| Stocks | 30/36 | €135,870 | €0 | -€135,870 | -100.0% |
| Amounts receivable within one year | 40/41 | €112,310 | €0 | -€112,310 | -100.0% |
| Other amounts receivable | 41 | €112,310 | €0 | -€112,310 | -100.0% |
| Cash at bank and in hand | 54/58 | €106,113 | €273,756 | +€167,643 | +158.0% |
| Total equity and liabilities | 10/49 | €354,293 | €273,756 | -€80,537 | -22.7% |
| Equity | 10/15 | €326,863 | €73,756 | -€253,107 | -77.4% |
| Contributions | 10/11 | €65,100 | €65,100 | = | 0.0% |
| Reserves | 13 | €256,510 | €6,510 | -€250,000 | -97.5% |
| Non-distributable reserves | 130/1 | €6,510 | €6,510 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,510 | €6,510 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €0 | -€250,000 | -100.0% |
| Profit (loss) carried forward | 14 | €5,253 | €2,146 | -€3,107 | -59.1% |
| Amounts payable | 17/49 | €27,430 | €200,000 | +€172,570 | +629.1% |
| Amounts payable within one year | 42/48 | €27,430 | €200,000 | +€172,570 | +629.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €27,430 | €0 | -€27,430 | -100.0% |
| Taxes | 450/3 | €27,430 | €0 | -€27,430 | -100.0% |
| Other amounts payable | 47/48 | - | €200,000 | +€200,000 | |
| Other operating charges | 640/8 | €960 | €978 | +€17 | +1.8% |
| Gross operating margin | 9900 | €112,231 | €55,600 | -€56,631 | -50.5% |
| Operating profit (loss) | 9901 | €111,271 | €54,623 | -€56,648 | -50.9% |
| Financial income | 75/76B | - | €2,454 | +€2,454 | |
| Recurring financial income | 75 | - | €2,454 | +€2,454 | |
| Financial charges | 65/66B | €8,490 | €110,184 | +€101,694 | +1197.8% |
| Recurring financial charges | 65 | €8,490 | €110,184 | +€101,694 | +1197.8% |
| Profit (loss) for the period before taxes | 9903 | €102,781 | -€53,107 | -€155,888 | |
| Income taxes | 67/77 | €17,996 | €0 | -€17,996 | -100.0% |
| Profit (loss) for the period | 9904 | €84,784 | -€53,107 | -€137,891 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,784 | -€53,107 | -€137,891 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.