GRIMMO: 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.
GRIMMO
Largest movements
- Tangible fixed assets -€84,617
down €84,617 (-6.7%), from €1.3m to €1.2m
of which Land and buildings: -€84,617
- Receivables within one year +€42,044
up €42,044 (+34.3%), from €122,467 to €164,511
of which Other amounts receivable: +€31,230
- Cash -€27,302
down €27,302 (-39.6%), from €68,887 to €41,585
mainly Debts after one year (-€93,434) and Receivables within one year (-€42,044)
- Debts after one year -€93,434
down €93,434 (-24.5%), from €380,740 to €287,306
of which Financial debts: -€93,434
- Reserves +€48,345
up €48,345 (+14.1%), from €342,702 to €391,047
of which Distributable reserves: +€48,345
- Other debts -€40,541
down €40,541 (-13.2%), from €307,271 to €266,730
- Other operating charges +€11,653
up €11,653 (+30.5%), from €38,232 to €49,885
- Gross operating margin +€9,907
up €9,907 (+4.4%), from €225,532 to €235,439
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 | €1,453,073 | €1,380,517 | -€72,556 | -5.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,254,739 | €1,170,122 | -€84,617 | -6.7% |
| Tangible fixed assets | 22/27 | €1,254,739 | €1,170,122 | -€84,617 | -6.7% |
| Land and buildings | 22 | €1,254,739 | €1,170,122 | -€84,617 | -6.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €198,333 | €210,395 | +€12,061 | +6.1% |
| Amounts receivable within one year | 40/41 | €122,467 | €164,511 | +€42,044 | +34.3% |
| Trade receivables | 40 | €880 | €11,694 | +€10,814 | +1228.8% |
| Other amounts receivable | 41 | €121,587 | €152,817 | +€31,230 | +25.7% |
| Cash at bank and in hand | 54/58 | €68,887 | €41,585 | -€27,302 | -39.6% |
| Deferred charges and accrued income | 490/1 | €6,979 | €4,299 | -€2,680 | -38.4% |
| Total equity and liabilities | 10/49 | €1,453,073 | €1,380,517 | -€72,556 | -5.0% |
| Equity | 10/15 | €642,702 | €691,047 | +€48,345 | +7.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €342,702 | €391,047 | +€48,345 | +14.1% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €312,702 | €361,047 | +€48,345 | +15.5% |
| Amounts payable | 17/49 | €810,370 | €689,470 | -€120,901 | -14.9% |
| Amounts payable after more than one year | 17 | €380,740 | €287,306 | -€93,434 | -24.5% |
| Financial debts | 170/4 | €377,171 | €283,736 | -€93,434 | -24.8% |
| Other amounts payable | 178/9 | €3,570 | €3,570 | = | 0.0% |
| Amounts payable within one year | 42/48 | €403,736 | €378,918 | -€24,818 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €96,233 | €95,902 | -€332 | -0.3% |
| Trade debts | 44 | €232 | €13,302 | +€13,070 | +5643.3% |
| Suppliers | 440/4 | €232 | €13,302 | +€13,070 | +5643.3% |
| Taxes, remuneration and social security | 45 | - | €2,984 | +€2,984 | |
| Taxes | 450/3 | - | €2,984 | +€2,984 | |
| Other amounts payable | 47/48 | €307,271 | €266,730 | -€40,541 | -13.2% |
| Accrued charges and deferred income | 492/3 | €25,894 | €23,246 | -€2,648 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,382 | €84,617 | -€1,765 | -2.0% |
| Other operating charges | 640/8 | €38,232 | €49,885 | +€11,653 | +30.5% |
| Gross operating margin | 9900 | €225,532 | €235,439 | +€9,907 | +4.4% |
| Operating profit (loss) | 9901 | €100,918 | €100,937 | +€19 | 0.0% |
| Financial income | 75/76B | €373 | - | -€373 | |
| Recurring financial income | 75 | €373 | - | -€373 | |
| Financial charges | 65/66B | €31,084 | €29,608 | -€1,476 | -4.7% |
| Recurring financial charges | 65 | €31,084 | €29,608 | -€1,476 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €70,207 | €71,329 | +€1,122 | +1.6% |
| Income taxes | 67/77 | €22,493 | €22,984 | +€491 | +2.2% |
| Profit (loss) for the period | 9904 | €47,714 | €48,345 | +€631 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,714 | €48,345 | +€631 | +1.3% |
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 2 October 2026 via checked.be.