GREY MANAGEMENT: 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.
GREY MANAGEMENT
Largest movements
- Cash -€4,989
down €4,989 (-69.0%), from €7,228 to €2,239
mainly Net result for the year (-€3,475) and Receivables within one year (-€2,109)
- Receivables within one year +€2,109
up €2,109 (+122.2%), from €1,726 to €3,835
of which Other amounts receivable: +€1,732
- Tangible fixed assets -€618
down €618 (-67.6%), from €915 to €297
- Deferred charges and accrued income -€120
no longer reported in 2025 (was €120)
- Profit (loss) carried forward -€3,475
down €3,475, from €1,470 to -€2,004
- Accrued charges and deferred income -€387
no longer reported in 2025 (was €387)
- Trade debts +€243
up €243 (+338.5%), from €72 to €315
- Gross operating margin -€4,564
down €4,564, from €2,148 to -€2,416
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 | €9,989 | €6,370 | -€3,619 | -36.2% |
| Fixed assets | 21/28 | €915 | €297 | -€618 | -67.6% |
| Tangible fixed assets | 22/27 | €915 | €297 | -€618 | -67.6% |
| Furniture and vehicles | 24 | €915 | €297 | -€618 | -67.6% |
| Current assets | 29/58 | €9,074 | €6,074 | -€3,001 | -33.1% |
| Amounts receivable within one year | 40/41 | €1,726 | €3,835 | +€2,109 | +122.2% |
| Trade receivables | 40 | - | €377 | +€377 | |
| Other amounts receivable | 41 | €1,726 | €3,458 | +€1,732 | +100.4% |
| Cash at bank and in hand | 54/58 | €7,228 | €2,239 | -€4,989 | -69.0% |
| Deferred charges and accrued income | 490/1 | €120 | - | -€120 | |
| Total equity and liabilities | 10/49 | €9,989 | €6,370 | -€3,619 | -36.2% |
| Equity | 10/15 | €9,530 | €6,056 | -€3,475 | -36.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,470 | -€2,004 | -€3,475 | |
| Amounts payable | 17/49 | €459 | €315 | -€144 | -31.5% |
| Amounts payable within one year | 42/48 | €72 | €315 | +€243 | +338.5% |
| Trade debts | 44 | €72 | €315 | +€243 | +338.5% |
| Suppliers | 440/4 | €72 | €315 | +€243 | +338.5% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €618 | €618 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €2,148 | -€2,416 | -€4,564 | |
| Operating profit (loss) | 9901 | €1,142 | -€3,434 | -€4,576 | |
| Financial income | 75/76B | €73 | €83 | +€10 | +13.2% |
| Recurring financial income | 75 | €73 | €83 | +€10 | +13.2% |
| Financial charges | 65/66B | €135 | €124 | -€11 | -8.2% |
| Recurring financial charges | 65 | €135 | €124 | -€11 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €1,081 | -€3,475 | -€4,556 | |
| Profit (loss) for the period | 9904 | €1,081 | -€3,475 | -€4,556 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,081 | -€3,475 | -€4,556 |
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.