GriSpen: 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.
GriSpen
Largest movements
- Cash +€19,546
up €19,546 (+39.4%), from €49,549 to €69,095
mainly Net result for the year (+€156,519) and Receivables within one year (+€10,120)
- Receivables within one year -€10,120
down €10,120 (-12.6%), from €80,047 to €69,927
of which Trade receivables: -€28,870
- Deferred charges and accrued income -€9,610
down €9,610 (-41.9%), from €22,909 to €13,299
- Tangible fixed assets -€2,943
down €2,943 (-14.5%), from €20,282 to €17,339
of which Furniture and vehicles: -€2,202
- Trade debts -€3,012
down €3,012 (-56.7%), from €5,312 to €2,300
- Tax, wage and social debts -€1,990
down €1,990 (-6.4%), from €31,310 to €29,320
- Other debts +€1,875
up €1,875 (+1.4%), from €131,166 to €133,041
- Gross operating margin +€4,812
up €4,812 (+2.3%), from €213,077 to €217,889
- Depreciation -€3,976
down €3,976 (-40.5%), from €9,810 to €5,835
- Taxes +€2,700
up €2,700 (+5.5%), from €48,793 to €51,493
- Financial charges +€2,325
up €2,325 (+3,207%), from €73 to €2,398
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 | €172,787 | €169,660 | -€3,127 | -1.8% |
| Fixed assets | 21/28 | €20,282 | €17,339 | -€2,943 | -14.5% |
| Tangible fixed assets | 22/27 | €20,282 | €17,339 | -€2,943 | -14.5% |
| Plant, machinery and equipment | 23 | €7,371 | €6,630 | -€741 | -10.1% |
| Furniture and vehicles | 24 | €12,911 | €10,709 | -€2,202 | -17.1% |
| Current assets | 29/58 | €152,505 | €152,322 | -€184 | -0.1% |
| Amounts receivable within one year | 40/41 | €80,047 | €69,927 | -€10,120 | -12.6% |
| Trade receivables | 40 | €70,275 | €41,405 | -€28,870 | -41.1% |
| Other amounts receivable | 41 | €9,773 | €28,522 | +€18,750 | +192% |
| Cash at bank and in hand | 54/58 | €49,549 | €69,095 | +€19,546 | +39.4% |
| Deferred charges and accrued income | 490/1 | €22,909 | €13,299 | -€9,610 | -41.9% |
| Total equity and liabilities | 10/49 | €172,787 | €169,660 | -€3,127 | -1.8% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,787 | €164,660 | -€3,127 | -1.9% |
| Amounts payable within one year | 42/48 | €167,787 | €164,660 | -€3,127 | -1.9% |
| Trade debts | 44 | €5,312 | €2,300 | -€3,012 | -56.7% |
| Suppliers | 440/4 | €5,312 | €2,300 | -€3,012 | -56.7% |
| Taxes, remuneration and social security | 45 | €31,310 | €29,320 | -€1,990 | -6.4% |
| Taxes | 450/3 | €31,310 | €29,320 | -€1,990 | -6.4% |
| Other amounts payable | 47/48 | €131,166 | €133,041 | +€1,875 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,810 | €5,835 | -€3,976 | -40.5% |
| Other operating charges | 640/8 | €1,146 | €1,647 | +€500 | +43.6% |
| Gross operating margin | 9900 | €213,077 | €217,889 | +€4,812 | +2.3% |
| Operating profit (loss) | 9901 | €202,120 | €210,408 | +€8,288 | +4.1% |
| Financial income | 75/76B | €15 | €2 | -€14 | -89.9% |
| Recurring financial income | 75 | €15 | €2 | -€14 | -89.9% |
| Financial charges | 65/66B | €73 | €2,398 | +€2,325 | +3,207% |
| Recurring financial charges | 65 | €73 | €2,398 | +€2,325 | +3,207% |
| Profit (loss) for the period before taxes | 9903 | €202,063 | €208,011 | +€5,949 | +2.9% |
| Income taxes | 67/77 | €48,793 | €51,493 | +€2,700 | +5.5% |
| Profit (loss) for the period | 9904 | €153,270 | €156,519 | +€3,249 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €153,270 | €156,519 | +€3,249 | +2.1% |
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 30 October 2026 via checked.be.