GROENINCKX: 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.
GROENINCKX
Largest movements
- Receivables within one year -€44,828
down €44,828 (-54.7%), from €81,956 to €37,128
of which Trade receivables: -€44,651
- Cash -€36,123
down €36,123 (-48.3%), from €74,736 to €38,613
mainly Net result for the year (-€36,326) and Deferred charges and accrued income (-€17,928)
- Deferred charges and accrued income +€17,928
up €17,928 (+598%), from €2,997 to €20,925
- Profit (loss) carried forward -€36,326
down €36,326, from €15,210 to -€21,116
- Debts after one year -€10,134
down €10,134 (-38.0%), from €26,640 to €16,505
- Tax, wage and social debts -€7,036
down €7,036 (-74.6%), from €9,427 to €2,391
- Current portion of long-term debt -€6,658
down €6,658 (-39.6%), from €16,792 to €10,134
- Other debts -€2,905
down €2,905 (-30.6%), from €9,490 to €6,585
- Gross operating margin -€27,264
down €27,264, from €11,649 to -€15,615
- Other operating charges -€4,096
down €4,096 (-68.4%), from €5,989 to €1,892
- Depreciation +€2,000
up €2,000 (+13.8%), from €14,507 to €16,508
- Financial charges -€306
down €306 (-12.2%), from €2,506 to €2,201
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 | €188,740 | €125,160 | -€63,580 | -33.7% |
| Fixed assets | 21/28 | €29,051 | €28,493 | -€558 | -1.9% |
| Tangible fixed assets | 22/27 | €28,144 | €27,586 | -€558 | -2.0% |
| Plant, machinery and equipment | 23 | €21,522 | €16,254 | -€5,268 | -24.5% |
| Furniture and vehicles | 24 | €6,622 | €11,332 | +€4,710 | +71.1% |
| Financial fixed assets | 28 | €907 | €907 | = | 0.0% |
| Current assets | 29/58 | €159,689 | €96,667 | -€63,023 | -39.5% |
| Amounts receivable within one year | 40/41 | €81,956 | €37,128 | -€44,828 | -54.7% |
| Trade receivables | 40 | €71,956 | €27,305 | -€44,651 | -62.1% |
| Other amounts receivable | 41 | €10,000 | €9,823 | -€177 | -1.8% |
| Cash at bank and in hand | 54/58 | €74,736 | €38,613 | -€36,123 | -48.3% |
| Deferred charges and accrued income | 490/1 | €2,997 | €20,925 | +€17,928 | +598% |
| Total equity and liabilities | 10/49 | €188,740 | €125,160 | -€63,580 | -33.7% |
| Equity | 10/15 | €121,030 | €84,704 | -€36,326 | -30.0% |
| Contributions | 10/11 | €31,200 | €31,200 | = | 0.0% |
| Reserves | 13 | €74,620 | €74,620 | = | 0.0% |
| Distributable reserves | 133 | €74,620 | €74,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,210 | -€21,116 | -€36,326 | |
| Amounts payable | 17/49 | €67,710 | €40,456 | -€27,254 | -40.3% |
| Amounts payable after more than one year | 17 | €26,640 | €16,505 | -€10,134 | -38.0% |
| Financial debts | 170/4 | €26,640 | €16,505 | -€10,134 | -38.0% |
| Amounts payable within one year | 42/48 | €41,070 | €23,951 | -€17,120 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €16,792 | €10,134 | -€6,658 | -39.6% |
| Trade debts | 44 | €5,361 | €4,840 | -€520 | -9.7% |
| Suppliers | 440/4 | €5,361 | €4,840 | -€520 | -9.7% |
| Taxes, remuneration and social security | 45 | €9,427 | €2,391 | -€7,036 | -74.6% |
| Taxes | 450/3 | €9,427 | €2,391 | -€7,036 | -74.6% |
| Other amounts payable | 47/48 | €9,490 | €6,585 | -€2,905 | -30.6% |
| Non-recurring operating income | 76A | €36,450 | - | -€36,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,507 | €16,508 | +€2,000 | +13.8% |
| Other operating charges | 640/8 | €5,989 | €1,892 | -€4,096 | -68.4% |
| Gross operating margin | 9900 | €11,649 | -€15,615 | -€27,264 | |
| Operating profit (loss) | 9901 | -€8,847 | -€34,015 | -€25,168 | -284% |
| Financial income | 75/76B | €185 | €98 | -€87 | -46.8% |
| Recurring financial income | 75 | €185 | €98 | -€87 | -46.8% |
| Financial charges | 65/66B | €2,506 | €2,201 | -€306 | -12.2% |
| Recurring financial charges | 65 | €2,506 | €2,201 | -€306 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,169 | -€36,118 | -€24,949 | -223% |
| Income taxes | 67/77 | €201 | €209 | +€7 | +3.7% |
| Profit (loss) for the period | 9904 | -€11,370 | -€36,326 | -€24,956 | -219% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,370 | -€36,326 | -€24,956 | -219% |
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 1 November 2026 via checked.be.