GRIMAC: 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.
GRIMAC
Largest movements
- Cash +€311,838
up €311,838 (+1938.3%), from €16,089 to €327,927
mainly Net result for the year (+€165,878) and Deferred charges and accrued income (+€112,472)
- Deferred charges and accrued income -€112,472
down €112,472 (-85.0%), from €132,388 to €19,916
- Receivables within one year -€101,453
down €101,453 (-29.6%), from €343,062 to €241,609
of which Trade receivables: -€101,392
- Tangible fixed assets -€62,086
down €62,086 (-2.0%), from €3.1m to €3.1m
of which Land and buildings: -€60,376
- Profit (loss) carried forward +€165,878
up €165,878 (+37.7%), from -€440,140 to -€274,262
- Debts after one year -€105,655
down €105,655 (-6.8%), from €1.6m to €1.5m
- Short-term financial debts -€37,627
down €37,627 (-2.8%), from €1.4m to €1.3m
- Gross operating margin +€3,022
up €3,022 (+1.1%), from €265,670 to €268,692
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 | €3,624,226 | €3,660,053 | +€35,827 | +1.0% |
| Fixed assets | 21/28 | €3,132,687 | €3,070,601 | -€62,086 | -2.0% |
| Tangible fixed assets | 22/27 | €3,132,687 | €3,070,601 | -€62,086 | -2.0% |
| Land and buildings | 22 | €3,128,440 | €3,068,064 | -€60,376 | -1.9% |
| Plant, machinery and equipment | 23 | €913 | €127 | -€786 | -86.1% |
| Furniture and vehicles | 24 | €3,066 | €2,410 | -€656 | -21.4% |
| Other tangible fixed assets | 26 | €268 | €0 | -€268 | -100.0% |
| Current assets | 29/58 | €491,539 | €589,452 | +€97,913 | +19.9% |
| Amounts receivable within one year | 40/41 | €343,062 | €241,609 | -€101,453 | -29.6% |
| Trade receivables | 40 | €342,480 | €241,088 | -€101,392 | -29.6% |
| Other amounts receivable | 41 | €582 | €521 | -€61 | -10.5% |
| Cash at bank and in hand | 54/58 | €16,089 | €327,927 | +€311,838 | +1938.3% |
| Deferred charges and accrued income | 490/1 | €132,388 | €19,916 | -€112,472 | -85.0% |
| Total equity and liabilities | 10/49 | €3,624,226 | €3,660,053 | +€35,827 | +1.0% |
| Equity | 10/15 | €578,003 | €743,882 | +€165,878 | +28.7% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €18,143 | €18,143 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,143 | €18,143 | = | 0.0% |
| Legal reserve | 130 | €18,143 | €18,143 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,140 | -€274,262 | +€165,878 | +37.7% |
| Amounts payable | 17/49 | €3,046,222 | €2,916,171 | -€130,051 | -4.3% |
| Amounts payable after more than one year | 17 | €1,559,881 | €1,454,227 | -€105,655 | -6.8% |
| Financial debts | 170/4 | €1,559,881 | €1,454,227 | -€105,655 | -6.8% |
| Amounts payable within one year | 42/48 | €1,483,497 | €1,459,098 | -€24,398 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €103,546 | €105,655 | +€2,109 | +2.0% |
| Financial debts | 43 | €1,351,505 | €1,313,878 | -€37,627 | -2.8% |
| Other loans | 439 | €1,351,505 | €1,313,878 | -€37,627 | -2.8% |
| Trade debts | 44 | €17,012 | €1,017 | -€15,996 | -94.0% |
| Suppliers | 440/4 | €17,012 | €1,017 | -€15,996 | -94.0% |
| Taxes, remuneration and social security | 45 | €11,433 | €38,548 | +€27,116 | +237.2% |
| Taxes | 450/3 | €11,433 | €38,548 | +€27,116 | +237.2% |
| Accrued charges and deferred income | 492/3 | €2,844 | €2,847 | +€2 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,905 | €81,638 | +€733 | +0.9% |
| Other operating charges | 640/8 | €5,305 | €5,656 | +€352 | +6.6% |
| Gross operating margin | 9900 | €265,670 | €268,692 | +€3,022 | +1.1% |
| Operating profit (loss) | 9901 | €179,461 | €181,398 | +€1,937 | +1.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €17,026 | €14,958 | -€2,068 | -12.1% |
| Recurring financial charges | 65 | €17,026 | €14,958 | -€2,068 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €162,435 | €166,440 | +€4,005 | +2.5% |
| Income taxes | 67/77 | €418 | €561 | +€144 | +34.5% |
| Profit (loss) for the period | 9904 | €162,018 | €165,878 | +€3,861 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €162,018 | €165,878 | +€3,861 | +2.4% |
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 12 October 2026 via checked.be.