GRIMPATH: 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.
GRIMPATH
Largest movements
- Current investments +€130,861
up €130,861 (+22.5%), from €580,886 to €711,747
- Cash +€22,931
up €22,931 (+70.7%), from €32,438 to €55,370
mainly Net result for the year (+€142,003) and Other debts (+€92,850)
- Tangible fixed assets -€13,694
down €13,694 (-42.6%), from €32,112 to €18,417
of which Furniture and vehicles: -€12,796
- Other debts +€92,850
up €92,850 (+1556.9%), from €5,964 to €98,814
- Reserves +€41,013
up €41,013 (+6.2%), from €658,415 to €699,428
of which Distributable reserves: +€41,013
- Tax, wage and social debts +€9,342
up €9,342 (+29.3%), from €31,897 to €41,239
- Gross operating margin -€12,882
down €12,882 (-5.7%), from €226,138 to €213,255
- Taxes -€5,066
down €5,066 (-7.8%), from €64,802 to €59,735
- Financial income -€3,179
down €3,179 (-52.8%), from €6,024 to €2,846
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 | €717,617 | €861,961 | +€144,344 | +20.1% |
| Fixed assets | 21/28 | €32,112 | €18,417 | -€13,694 | -42.6% |
| Tangible fixed assets | 22/27 | €32,112 | €18,417 | -€13,694 | -42.6% |
| Plant, machinery and equipment | 23 | €1,188 | €290 | -€898 | -75.6% |
| Furniture and vehicles | 24 | €30,924 | €18,128 | -€12,796 | -41.4% |
| Current assets | 29/58 | €685,506 | €843,544 | +€158,038 | +23.1% |
| Current investments | 50/53 | €580,886 | €711,747 | +€130,861 | +22.5% |
| Cash at bank and in hand | 54/58 | €32,438 | €55,370 | +€22,931 | +70.7% |
| Deferred charges and accrued income | 490/1 | €72,181 | €76,427 | +€4,246 | +5.9% |
| Total equity and liabilities | 10/49 | €717,617 | €861,961 | +€144,344 | +20.1% |
| Equity | 10/15 | €677,015 | €718,028 | +€41,013 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €658,415 | €699,428 | +€41,013 | +6.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €656,555 | €697,568 | +€41,013 | +6.2% |
| Amounts payable | 17/49 | €40,602 | €143,933 | +€103,330 | +254.5% |
| Amounts payable within one year | 42/48 | €37,861 | €141,058 | +€103,197 | +272.6% |
| Trade debts | 44 | - | €1,005 | +€1,005 | |
| Suppliers | 440/4 | - | €1,005 | +€1,005 | |
| Taxes, remuneration and social security | 45 | €31,897 | €41,239 | +€9,342 | +29.3% |
| Taxes | 450/3 | €31,897 | €41,239 | +€9,342 | +29.3% |
| Other amounts payable | 47/48 | €5,964 | €98,814 | +€92,850 | +1556.9% |
| Accrued charges and deferred income | 492/3 | €2,742 | €2,875 | +€133 | +4.9% |
| Remuneration, social security and pensions | 62 | €194 | €197 | +€3 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,694 | €13,694 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €226,138 | €213,255 | -€12,882 | -5.7% |
| Operating profit (loss) | 9901 | €211,862 | €198,964 | -€12,897 | -6.1% |
| Financial income | 75/76B | €6,024 | €2,846 | -€3,179 | -52.8% |
| Recurring financial income | 75 | €6,024 | €2,846 | -€3,179 | -52.8% |
| Financial charges | 65/66B | €71 | €72 | +€1 | +1.0% |
| Recurring financial charges | 65 | €71 | €72 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €217,814 | €201,738 | -€16,076 | -7.4% |
| Income taxes | 67/77 | €64,802 | €59,735 | -€5,066 | -7.8% |
| Profit (loss) for the period | 9904 | €153,013 | €142,003 | -€11,010 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €153,013 | €142,003 | -€11,010 | -7.2% |
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 10 October 2026 via checked.be.