GROEF: 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.
GROEF
Largest movements
- Stocks and contracts +€8,550
up €8,550 (+1710.0%), from €500 to €9,050
- Receivables within one year +€7,420
up €7,420 (+12.6%), from €58,929 to €66,349
of which Trade receivables: +€6,855
- Deferred charges and accrued income -€5,328
down €5,328 (-82.7%), from €6,445 to €1,118
- Tangible fixed assets -€4,977
down €4,977 (-11.0%), from €45,157 to €40,180
of which Leasing and similar rights: -€8,055
- Reserves +€19,059
up €19,059 (+1204.5%), from €1,582 to €20,641
- Trade debts -€12,086
down €12,086 (-20.5%), from €59,009 to €46,923
- Debts after one year -€7,082
down €7,082 (-26.6%), from €26,617 to €19,536
- Tax, wage and social debts +€4,218
new in 2025: €4,218
- Gross operating margin +€29,696
up €29,696 (+366.9%), from €8,094 to €37,790
- Depreciation +€7,575
up €7,575 (+137.7%), from €5,500 to €13,075
- Taxes +€4,218
new in 2025: €4,218
- Financial charges +€730
up €730 (+108.0%), from €676 to €1,406
- Financial income +€534
up €534 (+1894.3%), from €28 to €562
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 | €119,693 | €123,452 | +€3,759 | +3.1% |
| Formation expenses | 20 | €500 | - | -€500 | |
| Fixed assets | 21/28 | €46,557 | €41,280 | -€5,277 | -11.3% |
| Intangible fixed assets | 21 | €1,400 | €1,100 | -€300 | -21.4% |
| Tangible fixed assets | 22/27 | €45,157 | €40,180 | -€4,977 | -11.0% |
| Plant, machinery and equipment | 23 | €8,101 | €11,180 | +€3,078 | +38.0% |
| Leasing and similar rights | 25 | €37,056 | €29,001 | -€8,055 | -21.7% |
| Current assets | 29/58 | €72,637 | €82,172 | +€9,535 | +13.1% |
| Stocks and contracts in progress | 3 | €500 | €9,050 | +€8,550 | +1710.0% |
| Stocks | 30/36 | €500 | €9,050 | +€8,550 | +1710.0% |
| Amounts receivable within one year | 40/41 | €58,929 | €66,349 | +€7,420 | +12.6% |
| Trade receivables | 40 | €49,577 | €56,432 | +€6,855 | +13.8% |
| Other amounts receivable | 41 | €9,352 | €9,917 | +€565 | +6.0% |
| Cash at bank and in hand | 54/58 | €6,763 | €5,655 | -€1,108 | -16.4% |
| Deferred charges and accrued income | 490/1 | €6,445 | €1,118 | -€5,328 | -82.7% |
| Total equity and liabilities | 10/49 | €119,693 | €123,452 | +€3,759 | +3.1% |
| Equity | 10/15 | €26,582 | €45,641 | +€19,059 | +71.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,582 | €20,641 | +€19,059 | +1204.5% |
| Distributable reserves | 133 | €1,582 | €20,641 | +€19,059 | +1204.5% |
| Amounts payable | 17/49 | €93,111 | €77,811 | -€15,300 | -16.4% |
| Amounts payable after more than one year | 17 | €26,617 | €19,536 | -€7,082 | -26.6% |
| Financial debts | 170/4 | €26,617 | €19,536 | -€7,082 | -26.6% |
| Amounts payable within one year | 42/48 | €66,494 | €58,275 | -€8,219 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €6,828 | €7,082 | +€254 | +3.7% |
| Trade debts | 44 | €59,009 | €46,923 | -€12,086 | -20.5% |
| Suppliers | 440/4 | €59,009 | €46,923 | -€12,086 | -20.5% |
| Taxes, remuneration and social security | 45 | - | €4,218 | +€4,218 | |
| Taxes | 450/3 | - | €4,218 | +€4,218 | |
| Other amounts payable | 47/48 | €657 | €52 | -€605 | -92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,500 | €13,075 | +€7,575 | +137.7% |
| Other operating charges | 640/8 | €364 | €594 | +€231 | +63.4% |
| Gross operating margin | 9900 | €8,094 | €37,790 | +€29,696 | +366.9% |
| Operating profit (loss) | 9901 | €2,230 | €24,120 | +€21,890 | +981.6% |
| Financial income | 75/76B | €28 | €562 | +€534 | +1894.3% |
| Recurring financial income | 75 | €28 | €562 | +€534 | +1894.3% |
| Financial charges | 65/66B | €676 | €1,406 | +€730 | +108.0% |
| Recurring financial charges | 65 | €676 | €1,406 | +€730 | +108.0% |
| Profit (loss) for the period before taxes | 9903 | €1,582 | €23,277 | +€21,695 | +1371.0% |
| Income taxes | 67/77 | - | €4,218 | +€4,218 | |
| Profit (loss) for the period | 9904 | €1,582 | €19,059 | +€17,477 | +1104.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,582 | €19,059 | +€17,477 | +1104.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.