Griet Helsen: 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.
Griet Helsen
Largest movements
- Current investments -€717,356
down €717,356 (-73.8%), from €971,795 to €254,439
- Cash -€245,146
down €245,146 (-96.1%), from €255,003 to €9,856
mainly Contributions, distributions and other (-€1.2m) and Tax, wage and social debts (-€77,260)
- Tangible fixed assets +€67,125
up €67,125 (+895%), from €7,500 to €74,625
of which Furniture and vehicles: +€67,125
- Reserves -€871,086
down €871,086 (-72.8%), from €1.2m to €324,791
- Tax, wage and social debts -€77,260
down €77,260 (-86.2%), from €89,586 to €12,325
- Advances received +€59,402
new in 2025: €59,402
- Gross operating margin -€181,934
down €181,934 (-39.2%), from €463,604 to €281,670
- Financial income +€156,286
up €156,286 (+909%), from €17,199 to €173,484
- Taxes -€30,599
down €30,599 (-26.6%), from €114,849 to €84,250
- Other operating charges +€6,616
up €6,616 (+219%), from €3,018 to €9,634
- Depreciation +€5,715
up €5,715 (+135%), from €4,246 to €9,961
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 | €1,615,118 | €719,408 | -€895,710 | -55.5% |
| Fixed assets | 21/28 | €7,500 | €74,625 | +€67,125 | +895% |
| Tangible fixed assets | 22/27 | €7,500 | €74,625 | +€67,125 | +895% |
| Furniture and vehicles | 24 | - | €67,125 | +€67,125 | |
| Other tangible fixed assets | 26 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €1,607,618 | €644,783 | -€962,835 | -59.9% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €188,239 | €187,166 | -€1,074 | -0.6% |
| Trade receivables | 40 | €156,539 | €138,545 | -€17,995 | -11.5% |
| Other amounts receivable | 41 | €31,700 | €48,621 | +€16,921 | +53.4% |
| Current investments | 50/53 | €971,795 | €254,439 | -€717,356 | -73.8% |
| Cash at bank and in hand | 54/58 | €255,003 | €9,856 | -€245,146 | -96.1% |
| Deferred charges and accrued income | 490/1 | €2,581 | €3,322 | +€740 | +28.7% |
| Total equity and liabilities | 10/49 | €1,615,118 | €719,408 | -€895,710 | -55.5% |
| Equity | 10/15 | €1,215,878 | €344,791 | -€871,086 | -71.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,195,878 | €324,791 | -€871,086 | -72.8% |
| Distributable reserves | 133 | €1,195,878 | €324,791 | -€871,086 | -72.8% |
| Amounts payable | 17/49 | €399,240 | €374,617 | -€24,623 | -6.2% |
| Amounts payable within one year | 42/48 | €399,240 | €374,617 | -€24,623 | -6.2% |
| Trade debts | 44 | €5,372 | €6,255 | +€883 | +16.4% |
| Suppliers | 440/4 | €5,372 | €6,255 | +€883 | +16.4% |
| Advances received on contracts in progress | 46 | - | €59,402 | +€59,402 | |
| Taxes, remuneration and social security | 45 | €89,586 | €12,325 | -€77,260 | -86.2% |
| Taxes | 450/3 | €89,586 | €12,325 | -€77,260 | -86.2% |
| Other amounts payable | 47/48 | €304,282 | €296,634 | -€7,648 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,246 | €9,961 | +€5,715 | +135% |
| Other operating charges | 640/8 | €3,018 | €9,634 | +€6,616 | +219% |
| Gross operating margin | 9900 | €463,604 | €281,670 | -€181,934 | -39.2% |
| Operating profit (loss) | 9901 | €456,340 | €262,075 | -€194,266 | -42.6% |
| Financial income | 75/76B | €17,199 | €173,484 | +€156,286 | +909% |
| Recurring financial income | 75 | €17,199 | €173,484 | +€156,286 | +909% |
| Financial charges | 65/66B | €25,010 | €26,518 | +€1,508 | +6.0% |
| Recurring financial charges | 65 | €25,010 | €26,518 | +€1,508 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €448,529 | €409,041 | -€39,488 | -8.8% |
| Income taxes | 67/77 | €114,849 | €84,250 | -€30,599 | -26.6% |
| Profit (loss) for the period | 9904 | €333,680 | €324,791 | -€8,889 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €333,680 | €324,791 | -€8,889 | -2.7% |
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 1 November 2026 via checked.be.