Grey Rock Management: what changed
Grey Rock Management
Largest movements
- Cash -€8,186
down €8,186 (-40.5%), from €20,198 to €12,013
mainly Trade debts (-€13,391) and Tax, wage and social debts (-€8,111)
- Receivables within one year +€4,037
new in 2025: €4,037
of which Other amounts receivable: +€2,800
- Current investments +€3,000
up €3,000 (+9.8%), from €30,500 to €33,500
- Deferred charges and accrued income -€2,703
no longer reported in 2025 (was €2,703)
- Tangible fixed assets -€1,276
down €1,276 (-9.1%), from €14,049 to €12,773
of which Land and buildings: -€990
- Reserves +€13,535
up €13,535 (+34.2%), from €39,619 to €53,154
- Trade debts -€13,391
down €13,391 (-92.2%), from €14,529 to €1,138
- Tax, wage and social debts -€8,111
down €8,111 (-67.4%), from €12,042 to €3,931
of which Taxes: -€8,014
- Advances received +€1,200
new in 2025: €1,200
- Financial income +€5,223
up €5,223 (+3,192%), from €164 to €5,386
- Depreciation -€2,130
down €2,130 (-38.5%), from €5,527 to €3,397
- Other operating charges +€1,280
up €1,280 (+285%), from €449 to €1,730
- Gross operating margin -€351
down €351 (-2.0%), from €17,544 to €17,194
- Taxes -€178
down €178 (-4.6%), from €3,909 to €3,730
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,690 | €62,323 | -€6,367 | -9.3% |
| Fixed assets | 21/28 | €15,289 | €12,773 | -€2,516 | -16.5% |
| Tangible fixed assets | 22/27 | €14,049 | €12,773 | -€1,276 | -9.1% |
| Land and buildings | 22 | €9,202 | €8,212 | -€990 | -10.8% |
| Furniture and vehicles | 24 | €4,846 | €4,561 | -€286 | -5.9% |
| Financial fixed assets | 28 | €1,240 | - | -€1,240 | |
| Current assets | 29/58 | €53,401 | €49,550 | -€3,851 | -7.2% |
| Amounts receivable within one year | 40/41 | - | €4,037 | +€4,037 | |
| Trade receivables | 40 | - | €1,237 | +€1,237 | |
| Other amounts receivable | 41 | - | €2,800 | +€2,800 | |
| Current investments | 50/53 | €30,500 | €33,500 | +€3,000 | +9.8% |
| Cash at bank and in hand | 54/58 | €20,198 | €12,013 | -€8,186 | -40.5% |
| Deferred charges and accrued income | 490/1 | €2,703 | - | -€2,703 | |
| Total equity and liabilities | 10/49 | €68,690 | €62,323 | -€6,367 | -9.3% |
| Equity | 10/15 | €42,119 | €55,654 | +€13,535 | +32.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €39,619 | €53,154 | +€13,535 | +34.2% |
| Distributable reserves | 133 | €39,619 | €53,154 | +€13,535 | +34.2% |
| Amounts payable | 17/49 | €26,571 | €6,669 | -€19,902 | -74.9% |
| Amounts payable within one year | 42/48 | €26,571 | €6,269 | -€20,302 | -76.4% |
| Trade debts | 44 | €14,529 | €1,138 | -€13,391 | -92.2% |
| Suppliers | 440/4 | €14,529 | €1,138 | -€13,391 | -92.2% |
| Advances received on contracts in progress | 46 | - | €1,200 | +€1,200 | |
| Taxes, remuneration and social security | 45 | €12,042 | €3,931 | -€8,111 | -67.4% |
| Taxes | 450/3 | €11,922 | €3,909 | -€8,014 | -67.2% |
| Remuneration and social security | 454/9 | €119 | €22 | -€97 | -81.2% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,527 | €3,397 | -€2,130 | -38.5% |
| Other operating charges | 640/8 | €449 | €1,730 | +€1,280 | +285% |
| Gross operating margin | 9900 | €17,544 | €17,194 | -€351 | -2.0% |
| Operating profit (loss) | 9901 | €11,568 | €12,067 | +€499 | +4.3% |
| Financial income | 75/76B | €164 | €5,386 | +€5,223 | +3,192% |
| Recurring financial income | 75 | €164 | €5,386 | +€5,223 | +3,192% |
| Financial charges | 65/66B | €64 | €187 | +€123 | +193% |
| Recurring financial charges | 65 | €64 | €187 | +€123 | +193% |
| Profit (loss) for the period before taxes | 9903 | €11,667 | €17,266 | +€5,598 | +48.0% |
| Income taxes | 67/77 | €3,909 | €3,730 | -€178 | -4.6% |
| Profit (loss) for the period | 9904 | €7,759 | €13,535 | +€5,776 | +74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,759 | €13,535 | +€5,776 | +74.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.