GRO PROJECT: 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.
GRO PROJECT
Largest movements
- Cash -€164,452
down €164,452 (-77.3%), from €212,739 to €48,287
mainly Advances received (-€190,000) and Tax, wage and social debts (-€33,845)
- Receivables within one year -€19,615
down €19,615 (-83.1%), from €23,606 to €3,991
of which Trade receivables: -€19,532
- Tangible fixed assets -€13,961
down €13,961 (-5.9%), from €236,147 to €222,186
of which Land and buildings: -€13,606
- Advances received -€190,000
down €190,000 (-100%), from €190,000 to €0
- Debts after one year +€72,967
up €72,967 (+123%), from €59,409 to €132,376
- Tax, wage and social debts -€33,845
down €33,845 (-82.5%), from €41,031 to €7,185
of which Taxes: -€33,845
- Trade debts -€27,981
down €27,981 (-83.2%), from €33,630 to €5,650
- Other debts -€23,943
down €23,943 (-21.3%), from €112,331 to €88,388
- Gross operating margin -€63,776
down €63,776 (-75.5%), from €84,436 to €20,660
- Financial charges -€33,583
down €33,583 (-94.4%), from €35,590 to €2,007
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 | €474,074 | €274,464 | -€199,610 | -42.1% |
| Fixed assets | 21/28 | €237,279 | €222,186 | -€15,094 | -6.4% |
| Tangible fixed assets | 22/27 | €236,147 | €222,186 | -€13,961 | -5.9% |
| Land and buildings | 22 | €231,496 | €217,890 | -€13,606 | -5.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €4,651 | €4,295 | -€356 | -7.6% |
| Financial fixed assets | 28 | €1,133 | €0 | -€1,133 | -100% |
| Current assets | 29/58 | €236,794 | €52,278 | -€184,516 | -77.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €23,606 | €3,991 | -€19,615 | -83.1% |
| Trade receivables | 40 | €23,523 | €3,991 | -€19,532 | -83.0% |
| Other amounts receivable | 41 | €83 | €0 | -€83 | -100% |
| Cash at bank and in hand | 54/58 | €212,739 | €48,287 | -€164,452 | -77.3% |
| Deferred charges and accrued income | 490/1 | €449 | €0 | -€449 | -100% |
| Total equity and liabilities | 10/49 | €474,074 | €274,464 | -€199,610 | -42.1% |
| Equity | 10/15 | €7,483 | €11,609 | +€4,126 | +55.1% |
| Contributions | 10/11 | €13,600 | €13,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,117 | -€1,991 | +€4,126 | +67.5% |
| Amounts payable | 17/49 | €466,591 | €262,855 | -€203,736 | -43.7% |
| Amounts payable after more than one year | 17 | €59,409 | €132,376 | +€72,967 | +123% |
| Financial debts | 170/4 | €59,409 | €132,376 | +€72,967 | +123% |
| Amounts payable within one year | 42/48 | €403,379 | €130,479 | -€272,900 | -67.7% |
| Current portion of amounts payable after more than one year | 42 | €26,387 | €29,256 | +€2,869 | +10.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €33,630 | €5,650 | -€27,981 | -83.2% |
| Suppliers | 440/4 | €33,630 | €5,650 | -€27,981 | -83.2% |
| Advances received on contracts in progress | 46 | €190,000 | €0 | -€190,000 | -100% |
| Taxes, remuneration and social security | 45 | €41,031 | €7,185 | -€33,845 | -82.5% |
| Taxes | 450/3 | €41,031 | €7,185 | -€33,845 | -82.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €112,331 | €88,388 | -€23,943 | -21.3% |
| Accrued charges and deferred income | 492/3 | €3,803 | €0 | -€3,803 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,277 | €13,961 | -€316 | -2.2% |
| Other operating charges | 640/8 | €1,146 | €566 | -€580 | -50.6% |
| Gross operating margin | 9900 | €84,436 | €20,660 | -€63,776 | -75.5% |
| Operating profit (loss) | 9901 | €69,013 | €6,133 | -€62,881 | -91.1% |
| Financial income | 75/76B | €20 | €0 | -€20 | -100% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -100% |
| Financial charges | 65/66B | €35,590 | €2,007 | -€33,583 | -94.4% |
| Recurring financial charges | 65 | €35,590 | €2,007 | -€33,583 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €33,444 | €4,126 | -€29,318 | -87.7% |
| Income taxes | 67/77 | €145 | €0 | -€145 | -100% |
| Profit (loss) for the period | 9904 | €33,299 | €4,126 | -€29,173 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,299 | €4,126 | -€29,173 | -87.6% |
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 16 October 2026 via checked.be.