GRITS: 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.
GRITS
Largest movements
- Receivables within one year -€64,511
down €64,511 (-33.0%), from €195,588 to €131,077
of which Trade receivables: -€40,186
- Tangible fixed assets +€33,370
up €33,370 (+4.8%), from €694,752 to €728,122
of which Furniture and vehicles: +€24,445
- Cash +€25,769
up €25,769 (+23.4%), from €110,246 to €136,015
mainly Net result for the year (+€69,716) and Receivables within one year (+€64,511)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€19,486
up €19,486 (+13.7%), from €142,246 to €161,732
- Depreciation +€10,325
up €10,325 (+35.3%), from €29,237 to €39,563
- Write-downs +€7,003
up €7,003, from -€2,019 to €4,984
- Other operating charges +€3,033
up €3,033 (+37.1%), from €8,173 to €11,206
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 | €1,052,756 | €1,054,139 | +€1,382 | +0.1% |
| Fixed assets | 21/28 | €694,752 | €728,122 | +€33,370 | +4.8% |
| Tangible fixed assets | 22/27 | €694,752 | €728,122 | +€33,370 | +4.8% |
| Land and buildings | 22 | €673,801 | €681,599 | +€7,798 | +1.2% |
| Plant, machinery and equipment | 23 | €4,220 | €5,348 | +€1,128 | +26.7% |
| Furniture and vehicles | 24 | €16,730 | €41,175 | +€24,445 | +146.1% |
| Current assets | 29/58 | €358,005 | €326,016 | -€31,988 | -8.9% |
| Stocks and contracts in progress | 3 | €50,624 | €54,158 | +€3,534 | +7.0% |
| Stocks | 30/36 | €50,624 | €54,158 | +€3,534 | +7.0% |
| Amounts receivable within one year | 40/41 | €195,588 | €131,077 | -€64,511 | -33.0% |
| Trade receivables | 40 | €171,233 | €131,047 | -€40,186 | -23.5% |
| Other amounts receivable | 41 | €24,354 | €30 | -€24,324 | -99.9% |
| Cash at bank and in hand | 54/58 | €110,246 | €136,015 | +€25,769 | +23.4% |
| Deferred charges and accrued income | 490/1 | €1,547 | €4,766 | +€3,220 | +208.1% |
| Total equity and liabilities | 10/49 | €1,052,756 | €1,054,139 | +€1,382 | +0.1% |
| Equity | 10/15 | €459,371 | €463,588 | +€4,216 | +0.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €440,371 | €444,588 | +€4,216 | +1.0% |
| Distributable reserves | 133 | €440,371 | €444,588 | +€4,216 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €593,385 | €590,551 | -€2,834 | -0.5% |
| Amounts payable after more than one year | 17 | €447,333 | €442,357 | -€4,976 | -1.1% |
| Financial debts | 170/4 | €447,333 | €442,357 | -€4,976 | -1.1% |
| Amounts payable within one year | 42/48 | €146,052 | €148,194 | +€2,142 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €29,333 | €36,746 | +€7,413 | +25.3% |
| Trade debts | 44 | €99,555 | €94,959 | -€4,596 | -4.6% |
| Suppliers | 440/4 | €99,555 | €94,959 | -€4,596 | -4.6% |
| Taxes, remuneration and social security | 45 | €17,164 | €15,859 | -€1,305 | -7.6% |
| Taxes | 450/3 | €17,164 | €15,859 | -€1,305 | -7.6% |
| Other amounts payable | 47/48 | €0 | €629 | +€629 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,237 | €39,563 | +€10,325 | +35.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,019 | €4,984 | +€7,003 | |
| Other operating charges | 640/8 | €8,173 | €11,206 | +€3,033 | +37.1% |
| Gross operating margin | 9900 | €142,246 | €161,732 | +€19,486 | +13.7% |
| Operating profit (loss) | 9901 | €106,854 | €105,979 | -€875 | -0.8% |
| Financial income | 75/76B | €93 | €1,006 | +€913 | +982.5% |
| Recurring financial income | 75 | €93 | €1,006 | +€913 | +982.5% |
| Financial charges | 65/66B | €6,247 | €7,748 | +€1,501 | +24.0% |
| Recurring financial charges | 65 | €6,247 | €7,748 | +€1,501 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €100,700 | €99,237 | -€1,463 | -1.5% |
| Income taxes | 67/77 | €29,372 | €29,520 | +€148 | +0.5% |
| Profit (loss) for the period | 9904 | €71,328 | €69,716 | -€1,612 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,328 | €69,716 | -€1,612 | -2.3% |
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 2 October 2026 via checked.be.