GRITEC: 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.
GRITEC
Largest movements
- Receivables within one year -€182,864
down €182,864 (-45.8%), from €399,341 to €216,477
of which Trade receivables: -€193,216
- Cash +€61,779
up €61,779 (+70.2%), from €88,037 to €149,816
mainly Receivables within one year (+€182,864) and Net result for the year (+€46,557)
- Intangible fixed assets -€14,400
down €14,400 (-11.6%), from €124,432 to €110,032
- Deferred charges and accrued income -€11,042
down €11,042 (-14.6%), from €75,819 to €64,777
- Trade debts -€138,142
down €138,142 (-50.0%), from €276,368 to €138,226
- Gross operating margin -€97,061
down €97,061 (-16.4%), from €592,220 to €495,158
- Staff costs -€89,612
down €89,612 (-19.4%), from €461,541 to €371,929
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 | €733,980 | €587,465 | -€146,514 | -20.0% |
| Fixed assets | 21/28 | €170,783 | €156,396 | -€14,387 | -8.4% |
| Intangible fixed assets | 21 | €124,432 | €110,032 | -€14,400 | -11.6% |
| Tangible fixed assets | 22/27 | €26,901 | €26,914 | +€13 | 0.0% |
| Plant, machinery and equipment | 23 | €2,288 | €1,792 | -€496 | -21.7% |
| Furniture and vehicles | 24 | €24,613 | €25,122 | +€509 | +2.1% |
| Financial fixed assets | 28 | €19,450 | €19,450 | = | 0.0% |
| Current assets | 29/58 | €563,197 | €431,070 | -€132,127 | -23.5% |
| Amounts receivable within one year | 40/41 | €399,341 | €216,477 | -€182,864 | -45.8% |
| Trade receivables | 40 | €332,944 | €139,727 | -€193,216 | -58.0% |
| Other amounts receivable | 41 | €66,397 | €76,750 | +€10,352 | +15.6% |
| Cash at bank and in hand | 54/58 | €88,037 | €149,816 | +€61,779 | +70.2% |
| Deferred charges and accrued income | 490/1 | €75,819 | €64,777 | -€11,042 | -14.6% |
| Total equity and liabilities | 10/49 | €733,980 | €587,465 | -€146,514 | -20.0% |
| Equity | 10/15 | €160,495 | €162,242 | +€1,747 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,035 | €141,782 | +€1,747 | +1.2% |
| Amounts payable | 17/49 | €573,484 | €425,223 | -€148,261 | -25.9% |
| Amounts payable after more than one year | 17 | €6,788 | €3,505 | -€3,282 | -48.4% |
| Financial debts | 170/4 | €6,788 | €3,505 | -€3,282 | -48.4% |
| Amounts payable within one year | 42/48 | €566,369 | €421,718 | -€144,651 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €3,074 | €3,282 | +€209 | +6.8% |
| Trade debts | 44 | €276,368 | €138,226 | -€138,142 | -50.0% |
| Suppliers | 440/4 | €276,368 | €138,226 | -€138,142 | -50.0% |
| Taxes, remuneration and social security | 45 | €235,267 | €235,399 | +€132 | +0.1% |
| Taxes | 450/3 | €132,278 | €158,113 | +€25,835 | +19.5% |
| Remuneration and social security | 454/9 | €102,989 | €77,286 | -€25,703 | -25.0% |
| Other amounts payable | 47/48 | €51,660 | €44,810 | -€6,850 | -13.3% |
| Accrued charges and deferred income | 492/3 | €328 | €0 | -€328 | -100.0% |
| Non-recurring operating income | 76A | €6,045 | €4,214 | -€1,831 | -30.3% |
| Remuneration, social security and pensions | 62 | €461,541 | €371,929 | -€89,612 | -19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,172 | €22,164 | -€2,008 | -8.3% |
| Other operating charges | 640/8 | €17,411 | €11,553 | -€5,858 | -33.6% |
| Non-recurring operating charges | 66A | - | €2,724 | +€2,724 | |
| Gross operating margin | 9900 | €592,220 | €495,158 | -€97,061 | -16.4% |
| Operating profit (loss) | 9901 | €89,095 | €86,788 | -€2,307 | -2.6% |
| Financial income | 75/76B | €2,193 | €4,497 | +€2,304 | +105.1% |
| Recurring financial income | 75 | €2,193 | €4,497 | +€2,304 | +105.1% |
| Financial charges | 65/66B | €8,685 | €11,335 | +€2,650 | +30.5% |
| Recurring financial charges | 65 | €8,685 | €11,335 | +€2,650 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €82,604 | €79,950 | -€2,653 | -3.2% |
| Income taxes | 67/77 | €35,462 | €33,393 | -€2,069 | -5.8% |
| Profit (loss) for the period | 9904 | €47,142 | €46,557 | -€585 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,142 | €46,557 | -€585 | -1.2% |
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 4 October 2026 via checked.be.