GRIZZZLY: what changed
GRIZZZLY
Largest movements
- Receivables within one year +€5,348
up €5,348 (+247%), from €2,165 to €7,514
- Cash +€1,311
up €1,311 (+1.3%), from €104,207 to €105,518
mainly Net result for the year (+€32,703) and Tax, wage and social debts (+€5,585)
- Tangible fixed assets -€1,266
down €1,266 (-74.4%), from €1,702 to €435
of which Plant, machinery and equipment: -€934
- Profit (loss) carried forward +€32,703
up €32,703 (+45.7%), from -€71,540 to -€38,838
- Other debts -€30,871
down €30,871 (-20.3%), from €151,835 to €120,964
- Tax, wage and social debts +€5,585
up €5,585 (+116%), from €4,827 to €10,412
- Financial charges -€65,764
down €65,764 (-98.5%), from €66,792 to €1,027
- Gross operating margin +€46,641
up €46,641, from -€1,907 to €44,734
- Taxes +€7,782
new in 2025: €7,782
- Other operating charges +€645
up €645 (+49.2%), from €1,311 to €1,956
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,132 | €113,771 | +€5,639 | +5.2% |
| Fixed assets | 21/28 | €1,702 | €435 | -€1,266 | -74.4% |
| Tangible fixed assets | 22/27 | €1,702 | €435 | -€1,266 | -74.4% |
| Plant, machinery and equipment | 23 | €1,243 | €309 | -€934 | -75.2% |
| Furniture and vehicles | 24 | €459 | €126 | -€332 | -72.5% |
| Current assets | 29/58 | €106,430 | €113,336 | +€6,905 | +6.5% |
| Amounts receivable within one year | 40/41 | €2,165 | €7,514 | +€5,348 | +247% |
| Trade receivables | 40 | €2,165 | €7,514 | +€5,348 | +247% |
| Cash at bank and in hand | 54/58 | €104,207 | €105,518 | +€1,311 | +1.3% |
| Deferred charges and accrued income | 490/1 | €58 | €304 | +€246 | +424% |
| Total equity and liabilities | 10/49 | €108,132 | €113,771 | +€5,639 | +5.2% |
| Equity | 10/15 | -€56,994 | -€24,291 | +€32,703 | +57.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | €100 | = | 0.0% |
| Other | 1109/19 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €14,446 | €14,446 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10 | €10 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €6,437 | €6,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,540 | -€38,838 | +€32,703 | +45.7% |
| Amounts payable | 17/49 | €165,126 | €138,062 | -€27,064 | -16.4% |
| Amounts payable within one year | 42/48 | €165,126 | €138,062 | -€27,064 | -16.4% |
| Financial debts | 43 | €678 | - | -€678 | |
| Credit institutions | 430/8 | €678 | - | -€678 | |
| Trade debts | 44 | €7,785 | €6,686 | -€1,099 | -14.1% |
| Suppliers | 440/4 | €7,785 | €6,686 | -€1,099 | -14.1% |
| Taxes, remuneration and social security | 45 | €4,827 | €10,412 | +€5,585 | +116% |
| Taxes | 450/3 | €4,827 | €10,412 | +€5,585 | +116% |
| Other amounts payable | 47/48 | €151,835 | €120,964 | -€30,871 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,498 | €1,266 | -€232 | -15.5% |
| Other operating charges | 640/8 | €1,311 | €1,956 | +€645 | +49.2% |
| Gross operating margin | 9900 | -€1,907 | €44,734 | +€46,641 | |
| Operating profit (loss) | 9901 | -€4,716 | €41,512 | +€46,228 | |
| Financial income | 75/76B | €153 | - | -€153 | |
| Recurring financial income | 75 | €153 | - | -€153 | |
| Financial charges | 65/66B | €66,792 | €1,027 | -€65,764 | -98.5% |
| Recurring financial charges | 65 | €66,792 | €1,027 | -€65,764 | -98.5% |
| Profit (loss) for the period before taxes | 9903 | -€71,355 | €40,485 | +€111,840 | |
| Income taxes | 67/77 | - | €7,782 | +€7,782 | |
| Profit (loss) for the period | 9904 | -€71,355 | €32,703 | +€104,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€71,355 | €32,703 | +€104,058 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.