GREVACAM: 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.
GREVACAM
Largest movements
- Cash +€16,326
up €16,326 (+3.3%), from €490,306 to €506,633
mainly Net result for the year (+€85,704) and Tax, wage and social debts (+€6,837)
- Reserves +€34,773
up €34,773 (+7.3%), from €474,721 to €509,495
- Other debts -€19,692
down €19,692 (-39.9%), from €49,329 to €29,637
- Debts after one year -€10,000
down €10,000 (-27.3%), from €36,667 to €26,667
- Tax, wage and social debts +€6,837
up €6,837 (+374%), from €1,827 to €8,664
of which Taxes: +€6,837
- Gross operating margin -€154,176
down €154,176 (-54.2%), from €284,213 to €130,037
- Taxes -€49,321
down €49,321 (-58.8%), from €83,834 to €34,513
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 | €657,361 | €672,677 | +€15,316 | +2.3% |
| Fixed assets | 21/28 | €163,165 | €157,124 | -€6,041 | -3.7% |
| Tangible fixed assets | 22/27 | €163,165 | €157,124 | -€6,041 | -3.7% |
| Land and buildings | 22 | €163,165 | €157,124 | -€6,041 | -3.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €494,196 | €515,553 | +€21,357 | +4.3% |
| Amounts receivable within one year | 40/41 | €3,890 | €2,583 | -€1,307 | -33.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,890 | €2,583 | -€1,307 | -33.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €490,306 | €506,633 | +€16,326 | +3.3% |
| Deferred charges and accrued income | 490/1 | €0 | €6,337 | +€6,337 | |
| Total equity and liabilities | 10/49 | €657,361 | €672,677 | +€15,316 | +2.3% |
| Equity | 10/15 | €548,921 | €583,695 | +€34,773 | +6.3% |
| Contributions | 10/11 | €74,200 | €74,200 | = | 0.0% |
| Reserves | 13 | €474,721 | €509,495 | +€34,773 | +7.3% |
| Distributable reserves | 133 | €474,721 | €509,495 | +€34,773 | +7.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,440 | €88,983 | -€19,457 | -17.9% |
| Amounts payable after more than one year | 17 | €36,667 | €26,667 | -€10,000 | -27.3% |
| Financial debts | 170/4 | €36,667 | €26,667 | -€10,000 | -27.3% |
| Amounts payable within one year | 42/48 | €69,679 | €59,137 | -€10,542 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Financial debts | 43 | €8,451 | €8,411 | -€40 | -0.5% |
| Credit institutions | 430/8 | €8,451 | €8,411 | -€40 | -0.5% |
| Trade debts | 44 | €72 | €2,425 | +€2,353 | +3,284% |
| Suppliers | 440/4 | €72 | €2,425 | +€2,353 | +3,284% |
| Taxes, remuneration and social security | 45 | €1,827 | €8,664 | +€6,837 | +374% |
| Taxes | 450/3 | €1,827 | €8,664 | +€6,837 | +374% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €49,329 | €29,637 | -€19,692 | -39.9% |
| Accrued charges and deferred income | 492/3 | €2,094 | €3,179 | +€1,084 | +51.8% |
| Non-recurring operating income | 76A | €186,953 | €0 | -€186,953 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,041 | €6,041 | = | 0.0% |
| Other operating charges | 640/8 | €2,122 | €1,485 | -€637 | -30.0% |
| Gross operating margin | 9900 | €284,213 | €130,037 | -€154,176 | -54.2% |
| Operating profit (loss) | 9901 | €276,050 | €122,511 | -€153,539 | -55.6% |
| Financial income | 75/76B | €3,277 | €1,922 | -€1,356 | -41.4% |
| Recurring financial income | 75 | €3,277 | €1,922 | -€1,356 | -41.4% |
| Financial charges | 65/66B | €4,388 | €4,216 | -€172 | -3.9% |
| Recurring financial charges | 65 | €4,388 | €4,216 | -€172 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €274,939 | €120,217 | -€154,722 | -56.3% |
| Income taxes | 67/77 | €83,834 | €34,513 | -€49,321 | -58.8% |
| Profit (loss) for the period | 9904 | €191,105 | €85,704 | -€105,401 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €191,105 | €85,704 | -€105,401 | -55.2% |
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 19 October 2026 via checked.be.