GREVESPEN: 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.
GREVESPEN
Largest movements
- Receivables within one year +€33,089
up €33,089 (+188%), from €17,612 to €50,701
of which Other amounts receivable: +€34,477
- Cash -€12,593
down €12,593 (-57.1%), from €22,052 to €9,459
mainly Contributions, distributions and other (-€50,000) and Debts after one year (-€39,266)
- Reserves +€65,827
up €65,827 (+32.9%), from €200,000 to €265,827
- Debts after one year -€39,266
down €39,266 (-53.0%), from €74,030 to €34,764
- Financial income +€32,050
up €32,050 (+60.5%), from €53,017 to €85,067
- Gross operating margin -€16,035
down €16,035 (-23.1%), from €69,424 to €53,389
- Taxes -€2,360
down €2,360 (-10.5%), from €22,471 to €20,111
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 | €552,398 | €573,616 | +€21,218 | +3.8% |
| Fixed assets | 21/28 | €491,877 | €492,009 | +€132 | 0.0% |
| Tangible fixed assets | 22/27 | €677 | €809 | +€132 | +19.5% |
| Furniture and vehicles | 24 | €677 | €809 | +€132 | +19.5% |
| Financial fixed assets | 28 | €491,200 | €491,200 | = | 0.0% |
| Current assets | 29/58 | €60,521 | €81,607 | +€21,086 | +34.8% |
| Amounts receivable after more than one year | 29 | €20,857 | €21,447 | +€590 | +2.8% |
| Other amounts receivable | 291 | €20,857 | €21,447 | +€590 | +2.8% |
| Amounts receivable within one year | 40/41 | €17,612 | €50,701 | +€33,089 | +188% |
| Trade receivables | 40 | €17,612 | €16,224 | -€1,388 | -7.9% |
| Other amounts receivable | 41 | - | €34,477 | +€34,477 | |
| Cash at bank and in hand | 54/58 | €22,052 | €9,459 | -€12,593 | -57.1% |
| Total equity and liabilities | 10/49 | €552,398 | €573,616 | +€21,218 | +3.8% |
| Equity | 10/15 | €408,334 | €474,161 | +€65,827 | +16.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €200,000 | €265,827 | +€65,827 | +32.9% |
| Distributable reserves | 133 | €200,000 | €265,827 | +€65,827 | +32.9% |
| Profit (loss) carried forward | 14 | €193,334 | €193,334 | = | 0.0% |
| Amounts payable | 17/49 | €144,064 | €99,455 | -€44,609 | -31.0% |
| Amounts payable after more than one year | 17 | €74,030 | €34,764 | -€39,266 | -53.0% |
| Financial debts | 170/4 | €74,030 | €34,764 | -€39,266 | -53.0% |
| Amounts payable within one year | 42/48 | €69,968 | €64,601 | -€5,367 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €38,800 | €39,266 | +€467 | +1.2% |
| Trade debts | 44 | €14,949 | €9,972 | -€4,977 | -33.3% |
| Suppliers | 440/4 | €14,949 | €9,972 | -€4,977 | -33.3% |
| Taxes, remuneration and social security | 45 | €16,219 | €15,363 | -€857 | -5.3% |
| Taxes | 450/3 | €16,219 | €14,234 | -€1,986 | -12.2% |
| Remuneration and social security | 454/9 | - | €1,129 | +€1,129 | |
| Accrued charges and deferred income | 492/3 | €66 | €89 | +€24 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460 | €393 | -€67 | -14.6% |
| Other operating charges | 640/8 | €163 | - | -€163 | |
| Gross operating margin | 9900 | €69,424 | €53,389 | -€16,035 | -23.1% |
| Operating profit (loss) | 9901 | €68,800 | €52,996 | -€15,804 | -23.0% |
| Financial income | 75/76B | €53,017 | €85,067 | +€32,050 | +60.5% |
| Recurring financial income | 75 | €53,017 | €85,067 | +€32,050 | +60.5% |
| Financial charges | 65/66B | €2,292 | €2,125 | -€167 | -7.3% |
| Recurring financial charges | 65 | €2,292 | €2,125 | -€167 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €119,526 | €135,939 | +€16,413 | +13.7% |
| Income taxes | 67/77 | €22,471 | €20,111 | -€2,360 | -10.5% |
| Profit (loss) for the period | 9904 | €97,055 | €115,827 | +€18,773 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,055 | €115,827 | +€18,773 | +19.3% |
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 13 October 2026 via checked.be.