Gringo: 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.
What changed
Gringo
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€429,014
2024 · -€315,512-€113,502
Equity
€8.8m
2024 · €9.3m-€429,014
Cash
€285,818
2024 · €270,806+€15,012
Balance sheet total
€23.1m
2024 · €21.9m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.2m
up €1.2m (+6.1%), from €19.8m to €21.0m
of which Land and buildings: +€1.1m
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+33.3%), from €5.9m to €7.8m
- Debts after one year -€341,314
down €341,314 (-11.5%), from €3.0m to €2.6m
- Reserves -€241,576
down €241,576 (-4.1%), from €5.9m to €5.6m
of which Tax-exempt reserves: -€241,576
Income statement
- Financial charges +€131,430
up €131,430 (+38.3%), from €342,955 to €474,385
- Depreciation +€50,516
up €50,516 (+8.7%), from €582,472 to €632,988
- Gross operating margin +€38,951
up €38,951 (+6.1%), from €641,530 to €680,481
- Financial income +€19,420
up €19,420 (+147.3%), from €13,181 to €32,601
- Other operating charges -€10,072
down €10,072 (-8.0%), from €125,321 to €115,249
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.
Result 2024
-€315,512
Gross operating margin
+€38,951
Depreciation
-€50,516
Other operating charges
+€10,072
Financial income
+€19,420
Financial charges
-€131,430
Result 2025
-€429,014
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.
From operations
+€2.3m
Investment
-€1.9m
Financing
-€397,987
Cash 2024
€270,806
From operations (derived)
+€2.3m
Net result for the year
-€429,014
Depreciation
+€632,988
Receivables within one year
+€73,963
Smaller working-capital items
+€274
Provisions
-€80,525
Trade debts
-€36,481
Other debts
+€2.0m
Accrued charges and deferred income
+€156,061
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€1.8m
Current investments
-€18,237
Financing
-€397,987
Debts after one year
-€341,314
Current portion of long-term debt
+€3,327
Short-term financial debts
-€60,000
Cash 2025
€285,818
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,923,549 | €23,092,149 | +€1.2m | +5.3% |
| Fixed assets | 21/28 | €19,835,571 | €21,043,520 | +€1.2m | +6.1% |
| Tangible fixed assets | 22/27 | €19,835,571 | €21,043,520 | +€1.2m | +6.1% |
| Land and buildings | 22 | €18,580,724 | €19,639,956 | +€1.1m | +5.7% |
| Furniture and vehicles | 24 | €378 | - | -€378 | |
| Assets under construction and advance payments | 27 | €1,254,468 | €1,403,564 | +€149,096 | +11.9% |
| Current assets | 29/58 | €2,087,979 | €2,048,629 | -€39,350 | -1.9% |
| Amounts receivable within one year | 40/41 | €91,302 | €17,339 | -€73,963 | -81.0% |
| Trade receivables | 40 | €81,517 | €7,904 | -€73,613 | -90.3% |
| Other amounts receivable | 41 | €9,785 | €9,435 | -€350 | -3.6% |
| Current investments | 50/53 | €1,674,996 | €1,693,233 | +€18,237 | +1.1% |
| Cash at bank and in hand | 54/58 | €270,806 | €285,818 | +€15,012 | +5.5% |
| Deferred charges and accrued income | 490/1 | €50,875 | €52,240 | +€1,364 | +2.7% |
| Total equity and liabilities | 10/49 | €21,923,549 | €23,092,149 | +€1.2m | +5.3% |
| Equity | 10/15 | €9,278,429 | €8,849,415 | -€429,014 | -4.6% |
| Contributions | 10/11 | €2,731,438 | €2,731,438 | = | 0.0% |
| Capital | 10 | €2,731,438 | €2,731,438 | = | 0.0% |
| Issued capital | 100 | €2,731,438 | €2,731,438 | = | 0.0% |
| Reserves | 13 | €5,857,690 | €5,616,113 | -€241,576 | -4.1% |
| Non-distributable reserves | 130/1 | €371,840 | €371,840 | = | 0.0% |
| Legal reserve | 130 | €371,840 | €371,840 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,485,849 | €5,244,273 | -€241,576 | -4.4% |
| Profit (loss) carried forward | 14 | €689,301 | €501,864 | -€187,438 | -27.2% |
| Provisions and deferred taxes | 16 | €2,822,809 | €2,742,284 | -€80,525 | -2.9% |
| Provisions for liabilities and charges | 160/5 | €994,193 | €994,193 | = | 0.0% |
| Other liabilities and charges | 164/5 | €994,193 | €994,193 | = | 0.0% |
| Deferred taxes | 168 | €1,828,616 | €1,748,091 | -€80,525 | -4.4% |
| Amounts payable | 17/49 | €9,822,311 | €11,500,451 | +€1.7m | +17.1% |
| Amounts payable after more than one year | 17 | €2,956,472 | €2,615,158 | -€341,314 | -11.5% |
| Financial debts | 170/4 | €2,956,472 | €2,615,158 | -€341,314 | -11.5% |
| Amounts payable within one year | 42/48 | €6,660,213 | €8,523,606 | +€1.9m | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €337,987 | €341,314 | +€3,327 | +1.0% |
| Financial debts | 43 | €360,000 | €300,000 | -€60,000 | -16.7% |
| Other loans | 439 | €360,000 | €300,000 | -€60,000 | -16.7% |
| Trade debts | 44 | €64,940 | €28,459 | -€36,481 | -56.2% |
| Suppliers | 440/4 | €64,940 | €28,459 | -€36,481 | -56.2% |
| Taxes, remuneration and social security | 45 | €28,303 | €29,941 | +€1,638 | +5.8% |
| Taxes | 450/3 | €28,303 | €29,941 | +€1,638 | +5.8% |
| Other amounts payable | 47/48 | €5,868,983 | €7,823,892 | +€2.0m | +33.3% |
| Accrued charges and deferred income | 492/3 | €205,626 | €361,687 | +€156,061 | +75.9% |
| Non-recurring operating income | 76A | - | €11,765 | +€11,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582,472 | €632,988 | +€50,516 | +8.7% |
| Other operating charges | 640/8 | €125,321 | €115,249 | -€10,072 | -8.0% |
| Gross operating margin | 9900 | €641,530 | €680,481 | +€38,951 | +6.1% |
| Operating profit (loss) | 9901 | -€66,264 | -€67,756 | -€1,492 | -2.3% |
| Financial income | 75/76B | €13,181 | €32,601 | +€19,420 | +147.3% |
| Recurring financial income | 75 | €13,181 | €32,601 | +€19,420 | +147.3% |
| Financial charges | 65/66B | €342,955 | €474,385 | +€131,430 | +38.3% |
| Recurring financial charges | 65 | €342,955 | €474,385 | +€131,430 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | -€396,037 | -€509,540 | -€113,502 | -28.7% |
| Transfer from deferred taxes | 780 | €80,525 | €80,525 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€315,512 | -€429,014 | -€113,502 | -36.0% |
| Transfer from tax-exempt reserves | 789 | €241,576 | €241,576 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,936 | -€187,438 | -€113,502 | -153.5% |
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 7 October 2026 via checked.be.