GROENMAN: 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.
GROENMAN
Largest movements
- Cash +€142,362
up €142,362 (+341.2%), from €41,726 to €184,087
mainly Net result for the year (+€328,732) and Other debts (+€326,160)
- Tangible fixed assets +€64,323
up €64,323 (+48.4%), from €132,817 to €197,140
of which Plant, machinery and equipment: +€75,125
- Receivables within one year -€18,045
down €18,045 (-24.2%), from €74,606 to €56,560
of which Trade receivables: -€29,769
- Other debts +€326,160
up €326,160 (+9103.8%), from €3,583 to €329,742
- Reserves -€144,881
down €144,881 (-65.0%), from €222,724 to €77,843
of which Distributable reserves: -€144,881
- Trade debts +€13,618
up €13,618 (+388.8%), from €3,502 to €17,120
- Gross operating margin +€267,749
up €267,749 (+128.5%), from €208,308 to €476,057
- Taxes +€60,873
up €60,873 (+151.6%), from €40,146 to €101,019
- Depreciation +€20,639
up €20,639 (+97.7%), from €21,117 to €41,755
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 | €250,064 | €443,256 | +€193,192 | +77.3% |
| Fixed assets | 21/28 | €132,907 | €197,230 | +€64,323 | +48.4% |
| Tangible fixed assets | 22/27 | €132,817 | €197,140 | +€64,323 | +48.4% |
| Plant, machinery and equipment | 23 | €56,888 | €132,013 | +€75,125 | +132.1% |
| Furniture and vehicles | 24 | €44,517 | €36,306 | -€8,211 | -18.4% |
| Other tangible fixed assets | 26 | €31,412 | €28,821 | -€2,591 | -8.2% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €117,156 | €246,026 | +€128,869 | +110.0% |
| Stocks and contracts in progress | 3 | - | €200 | +€200 | |
| Stocks | 30/36 | - | €200 | +€200 | |
| Amounts receivable within one year | 40/41 | €74,606 | €56,560 | -€18,045 | -24.2% |
| Trade receivables | 40 | €51,283 | €21,514 | -€29,769 | -58.0% |
| Other amounts receivable | 41 | €23,323 | €35,047 | +€11,724 | +50.3% |
| Cash at bank and in hand | 54/58 | €41,726 | €184,087 | +€142,362 | +341.2% |
| Deferred charges and accrued income | 490/1 | €825 | €5,178 | +€4,353 | +527.7% |
| Total equity and liabilities | 10/49 | €250,064 | €443,256 | +€193,192 | +77.3% |
| Equity | 10/15 | €241,274 | €96,393 | -€144,881 | -60.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €222,724 | €77,843 | -€144,881 | -65.0% |
| Non-distributable reserves | 130/1 | €1,450 | €1,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,450 | €1,450 | = | 0.0% |
| Distributable reserves | 133 | €221,274 | €76,393 | -€144,881 | -65.5% |
| Amounts payable | 17/49 | €8,790 | €346,862 | +€338,072 | +3846.3% |
| Amounts payable within one year | 42/48 | €7,085 | €346,862 | +€339,777 | +4795.7% |
| Trade debts | 44 | €3,502 | €17,120 | +€13,618 | +388.8% |
| Suppliers | 440/4 | €3,502 | €17,120 | +€13,618 | +388.8% |
| Other amounts payable | 47/48 | €3,583 | €329,742 | +€326,160 | +9103.8% |
| Accrued charges and deferred income | 492/3 | €1,705 | - | -€1,705 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,117 | €41,755 | +€20,639 | +97.7% |
| Other operating charges | 640/8 | €1,669 | €4,635 | +€2,967 | +177.8% |
| Gross operating margin | 9900 | €208,308 | €476,057 | +€267,749 | +128.5% |
| Operating profit (loss) | 9901 | €185,522 | €429,666 | +€244,144 | +131.6% |
| Financial income | 75/76B | €0 | €181 | +€181 | +120353.3% |
| Recurring financial income | 75 | €0 | €181 | +€181 | +120353.3% |
| Financial charges | 65/66B | €494 | €96 | -€398 | -80.6% |
| Recurring financial charges | 65 | €494 | €96 | -€398 | -80.6% |
| Profit (loss) for the period before taxes | 9903 | €185,028 | €429,751 | +€244,723 | +132.3% |
| Income taxes | 67/77 | €40,146 | €101,019 | +€60,873 | +151.6% |
| Profit (loss) for the period | 9904 | €144,882 | €328,732 | +€183,849 | +126.9% |
| Profit (loss) for the period to be appropriated | 9905 | €144,882 | €328,732 | +€183,849 | +126.9% |
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 9 October 2026 via checked.be.