GRIGMABO: 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.
GRIGMABO
Largest movements
- Cash +€238,805
up €238,805 (+89.1%), from €267,901 to €506,706
mainly Other debts (+€182,281) and Net result for the year (+€159,056)
- Tangible fixed assets -€111,665
down €111,665 (-7.4%), from €1.5m to €1.4m
of which Land and buildings: -€109,470
- Other debts +€182,281
up €182,281 (+507.3%), from €35,934 to €218,215
- Reserves -€33,549
down €33,549 (-2.0%), from €1.7m to €1.6m
of which Distributable reserves: -€33,549
- Gross operating margin -€102,911
down €102,911 (-21.3%), from €482,540 to €379,629
- Taxes -€31,705
down €31,705 (-37.4%), from €84,724 to €53,019
- Write-downs +€25,542
new in 2025: €25,542
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 | €1,795,811 | €1,942,406 | +€146,595 | +8.2% |
| Fixed assets | 21/28 | €1,499,787 | €1,388,121 | -€111,665 | -7.4% |
| Tangible fixed assets | 22/27 | €1,499,787 | €1,388,121 | -€111,665 | -7.4% |
| Land and buildings | 22 | €1,491,863 | €1,382,394 | -€109,470 | -7.3% |
| Plant, machinery and equipment | 23 | €7,923 | €5,728 | -€2,196 | -27.7% |
| Current assets | 29/58 | €296,025 | €554,284 | +€258,260 | +87.2% |
| Amounts receivable within one year | 40/41 | €28,046 | €41,153 | +€13,108 | +46.7% |
| Trade receivables | 40 | €22,250 | €8,784 | -€13,466 | -60.5% |
| Other amounts receivable | 41 | €5,796 | €32,369 | +€26,573 | +458.5% |
| Cash at bank and in hand | 54/58 | €267,901 | €506,706 | +€238,805 | +89.1% |
| Deferred charges and accrued income | 490/1 | €78 | €6,425 | +€6,347 | +8146.1% |
| Total equity and liabilities | 10/49 | €1,795,811 | €1,942,406 | +€146,595 | +8.2% |
| Equity | 10/15 | €1,731,657 | €1,698,108 | -€33,549 | -1.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,670,157 | €1,636,608 | -€33,549 | -2.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,664,007 | €1,630,458 | -€33,549 | -2.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €64,154 | €244,298 | +€180,144 | +280.8% |
| Amounts payable within one year | 42/48 | €60,836 | €242,120 | +€181,284 | +298.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €459 | +€459 | |
| Suppliers | 440/4 | €0 | €459 | +€459 | |
| Taxes, remuneration and social security | 45 | €24,902 | €23,446 | -€1,456 | -5.8% |
| Taxes | 450/3 | €24,902 | €23,446 | -€1,456 | -5.8% |
| Other amounts payable | 47/48 | €35,934 | €218,215 | +€182,281 | +507.3% |
| Accrued charges and deferred income | 492/3 | €3,319 | €2,179 | -€1,140 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,665 | €111,665 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,542 | +€25,542 | |
| Other operating charges | 640/8 | €27,987 | €28,832 | +€845 | +3.0% |
| Gross operating margin | 9900 | €482,540 | €379,629 | -€102,911 | -21.3% |
| Operating profit (loss) | 9901 | €342,889 | €213,590 | -€129,299 | -37.7% |
| Financial income | 75/76B | €0 | €1,294 | +€1,294 | |
| Recurring financial income | 75 | €0 | €1,294 | +€1,294 | |
| Financial charges | 65/66B | €5,554 | €2,809 | -€2,745 | -49.4% |
| Recurring financial charges | 65 | €5,554 | €2,809 | -€2,745 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €337,335 | €212,075 | -€125,260 | -37.1% |
| Income taxes | 67/77 | €84,724 | €53,019 | -€31,705 | -37.4% |
| Profit (loss) for the period | 9904 | €252,611 | €159,056 | -€93,555 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €252,611 | €159,056 | -€93,555 | -37.0% |
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 4 October 2026 via checked.be.