GRIMCO: 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.
GRIMCO
Largest movements
- Cash +€71,362
up €71,362 (+22.7%), from €314,411 to €385,774
mainly Net result for the year (+€107,450) and Other debts (+€31,355)
- Current investments +€25,431
new in 2025: €25,431
- Reserves +€52,450
up €52,450 (+17.2%), from €304,160 to €356,610
- Other debts +€31,355
up €31,355 (+67.3%), from €46,613 to €77,968
- Tax, wage and social debts +€15,850
up €15,850 (+55.4%), from €28,627 to €44,477
of which Taxes: +€15,823
- Gross operating margin +€46,386
up €46,386 (+39.7%), from €116,724 to €163,111
- Taxes +€24,228
up €24,228 (+86.5%), from €28,013 to €52,240
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 | €401,075 | €502,782 | +€101,707 | +25.4% |
| Fixed assets | 21/28 | €57,649 | €57,227 | -€422 | -0.7% |
| Tangible fixed assets | 22/27 | €9,099 | €8,677 | -€422 | -4.6% |
| Furniture and vehicles | 24 | €4,774 | €5,025 | +€251 | +5.2% |
| Other tangible fixed assets | 26 | €4,324 | €3,652 | -€672 | -15.5% |
| Financial fixed assets | 28 | €48,550 | €48,550 | = | 0.0% |
| Current assets | 29/58 | €343,427 | €445,555 | +€102,129 | +29.7% |
| Amounts receivable within one year | 40/41 | €29,015 | €32,417 | +€3,402 | +11.7% |
| Trade receivables | 40 | €29,015 | €32,417 | +€3,402 | +11.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €25,431 | +€25,431 | |
| Cash at bank and in hand | 54/58 | €314,411 | €385,774 | +€71,362 | +22.7% |
| Deferred charges and accrued income | 490/1 | - | €1,934 | +€1,934 | |
| Total equity and liabilities | 10/49 | €401,075 | €502,782 | +€101,707 | +25.4% |
| Equity | 10/15 | €316,560 | €369,010 | +€52,450 | +16.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €304,160 | €356,610 | +€52,450 | +17.2% |
| Distributable reserves | 133 | €304,160 | €356,610 | +€52,450 | +17.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,515 | €133,772 | +€49,257 | +58.3% |
| Amounts payable within one year | 42/48 | €83,182 | €132,565 | +€49,383 | +59.4% |
| Trade debts | 44 | €7,942 | €10,120 | +€2,178 | +27.4% |
| Suppliers | 440/4 | €7,942 | €10,120 | +€2,178 | +27.4% |
| Taxes, remuneration and social security | 45 | €28,627 | €44,477 | +€15,850 | +55.4% |
| Taxes | 450/3 | €25,629 | €41,452 | +€15,823 | +61.7% |
| Remuneration and social security | 454/9 | €2,997 | €3,024 | +€27 | +0.9% |
| Other amounts payable | 47/48 | €46,613 | €77,968 | +€31,355 | +67.3% |
| Accrued charges and deferred income | 492/3 | €1,333 | €1,207 | -€126 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,022 | €2,842 | -€180 | -6.0% |
| Other operating charges | 640/8 | €1,119 | €1,260 | +€140 | +12.5% |
| Gross operating margin | 9900 | €116,724 | €163,111 | +€46,386 | +39.7% |
| Operating profit (loss) | 9901 | €112,583 | €159,008 | +€46,426 | +41.2% |
| Financial income | 75/76B | €667 | €2,221 | +€1,554 | +233% |
| Recurring financial income | 75 | €667 | €2,221 | +€1,554 | +233% |
| Financial charges | 65/66B | €1,560 | €1,539 | -€21 | -1.3% |
| Recurring financial charges | 65 | €1,560 | €1,539 | -€21 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €111,690 | €159,691 | +€48,001 | +43.0% |
| Income taxes | 67/77 | €28,013 | €52,240 | +€24,228 | +86.5% |
| Profit (loss) for the period | 9904 | €83,677 | €107,450 | +€23,773 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,677 | €107,450 | +€23,773 | +28.4% |
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 15 October 2026 via checked.be.