GRINZA: 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.
GRINZA
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash +€58,900
up €58,900 (+118.7%), from €49,614 to €108,514
mainly Current investments (+€100,000) and Net result for the year (+€67,475)
- Tangible fixed assets -€18,368
down €18,368 (-24.2%), from €75,808 to €57,440
- Receivables within one year +€12,224
up €12,224 (+59.3%), from €20,625 to €32,848
of which Trade receivables: +€6,543
- Deferred charges and accrued income +€8,665
up €8,665 (+56.7%), from €15,275 to €23,939
- Reserves -€44,667
down €44,667 (-24.6%), from €181,908 to €137,241
- Other debts +€3,267
up €3,267 (+5.1%), from €64,208 to €67,475
- Tax, wage and social debts +€2,953
up €2,953 (+78.2%), from €3,777 to €6,731
of which Taxes: +€2,953
- Gross operating margin +€20,249
up €20,249 (+15.1%), from €133,871 to €154,120
- Financial charges +€16,367
up €16,367 (+56.0%), from €29,250 to €45,617
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 | €261,322 | €222,742 | -€38,580 | -14.8% |
| Fixed assets | 21/28 | €75,808 | €57,440 | -€18,368 | -24.2% |
| Tangible fixed assets | 22/27 | €75,808 | €57,440 | -€18,368 | -24.2% |
| Furniture and vehicles | 24 | €75,808 | €57,440 | -€18,368 | -24.2% |
| Current assets | 29/58 | €185,514 | €165,302 | -€20,212 | -10.9% |
| Amounts receivable within one year | 40/41 | €20,625 | €32,848 | +€12,224 | +59.3% |
| Trade receivables | 40 | €18,867 | €25,410 | +€6,543 | +34.7% |
| Other amounts receivable | 41 | €1,758 | €7,438 | +€5,681 | +323.2% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €49,614 | €108,514 | +€58,900 | +118.7% |
| Deferred charges and accrued income | 490/1 | €15,275 | €23,939 | +€8,665 | +56.7% |
| Total equity and liabilities | 10/49 | €261,322 | €222,742 | -€38,580 | -14.8% |
| Equity | 10/15 | €191,908 | €147,241 | -€44,667 | -23.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €181,908 | €137,241 | -€44,667 | -24.6% |
| Distributable reserves | 133 | €181,908 | €137,241 | -€44,667 | -24.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,414 | €75,501 | +€6,087 | +8.8% |
| Amounts payable within one year | 42/48 | €68,839 | €74,901 | +€6,062 | +8.8% |
| Trade debts | 44 | €853 | €695 | -€158 | -18.5% |
| Suppliers | 440/4 | €853 | €695 | -€158 | -18.5% |
| Taxes, remuneration and social security | 45 | €3,777 | €6,731 | +€2,953 | +78.2% |
| Taxes | 450/3 | €3,777 | €6,731 | +€2,953 | +78.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €64,208 | €67,475 | +€3,267 | +5.1% |
| Accrued charges and deferred income | 492/3 | €575 | €600 | +€25 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,255 | €21,072 | -€183 | -0.9% |
| Other operating charges | 640/8 | €1,308 | €1,379 | +€71 | +5.4% |
| Non-recurring operating charges | 66A | €0 | €469 | +€469 | |
| Gross operating margin | 9900 | €133,871 | €154,120 | +€20,249 | +15.1% |
| Operating profit (loss) | 9901 | €111,307 | €131,200 | +€19,893 | +17.9% |
| Financial income | 75/76B | €0 | €1,062 | +€1,061 | +235826.7% |
| Recurring financial income | 75 | €0 | €1,062 | +€1,061 | +235826.7% |
| Financial charges | 65/66B | €29,250 | €45,617 | +€16,367 | +56.0% |
| Recurring financial charges | 65 | €29,250 | €45,617 | +€16,367 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €82,058 | €86,645 | +€4,587 | +5.6% |
| Income taxes | 67/77 | €18,242 | €19,170 | +€927 | +5.1% |
| Profit (loss) for the period | 9904 | €63,816 | €67,475 | +€3,659 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,816 | €67,475 | +€3,659 | +5.7% |
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 5 October 2026 via checked.be.