GROEP T: 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.
GROEP T
Largest movements
- Receivables within one year +€37,016
up €37,016 (+40.7%), from €91,043 to €128,059
of which Other amounts receivable: +€38,973
- Cash -€22,933
down €22,933 (-58.4%), from €39,274 to €16,341
mainly Investment in fixed assets (net) (-€65,211) and Receivables within one year (-€37,016)
- Tangible fixed assets +€21,476
up €21,476 (+2.2%), from €960,408 to €981,885
of which Other tangible fixed assets: +€179,767
- Reserves +€36,719
up €36,719 (+21.3%), from €172,304 to €209,023
of which Distributable reserves: +€36,719
- Other debts -€20,215
down €20,215 (-48.2%), from €41,921 to €21,706
- Current portion of long-term debt +€16,729
up €16,729 (+41.1%), from €40,721 to €57,451
- Debts after one year +€14,656
up €14,656 (+1.9%), from €759,279 to €773,935
- Gross operating margin +€39,492
up €39,492 (+52.5%), from €75,293 to €114,785
- Depreciation +€23,291
up €23,291 (+114%), from €20,445 to €43,735
- Provisions +€15,000
up €15,000, from -€15,000 to €0
- Taxes +€8,088
up €8,088, from €0 to €8,088
- Financial income -€7,439
down €7,439 (-100%), from €7,439 to €0
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,090,856 | €1,126,285 | +€35,429 | +3.2% |
| Fixed assets | 21/28 | €960,408 | €981,885 | +€21,476 | +2.2% |
| Tangible fixed assets | 22/27 | €960,408 | €981,885 | +€21,476 | +2.2% |
| Land and buildings | 22 | €775,019 | €802,118 | +€27,098 | +3.5% |
| Other tangible fixed assets | 26 | - | €179,767 | +€179,767 | |
| Assets under construction and advance payments | 27 | €185,389 | €0 | -€185,389 | -100% |
| Current assets | 29/58 | €130,448 | €144,401 | +€13,953 | +10.7% |
| Amounts receivable within one year | 40/41 | €91,043 | €128,059 | +€37,016 | +40.7% |
| Trade receivables | 40 | €3,832 | €1,876 | -€1,957 | -51.1% |
| Other amounts receivable | 41 | €87,211 | €126,184 | +€38,973 | +44.7% |
| Cash at bank and in hand | 54/58 | €39,274 | €16,341 | -€22,933 | -58.4% |
| Deferred charges and accrued income | 490/1 | €130 | €0 | -€130 | -100% |
| Total equity and liabilities | 10/49 | €1,090,856 | €1,126,285 | +€35,429 | +3.2% |
| Equity | 10/15 | €240,447 | €271,023 | +€30,576 | +12.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €172,304 | €209,023 | +€36,719 | +21.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €166,104 | €202,823 | +€36,719 | +22.1% |
| Profit (loss) carried forward | 14 | €6,143 | €0 | -€6,143 | -100% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €850,409 | €855,263 | +€4,853 | +0.6% |
| Amounts payable after more than one year | 17 | €759,279 | €773,935 | +€14,656 | +1.9% |
| Financial debts | 170/4 | €759,279 | €773,935 | +€14,656 | +1.9% |
| Amounts payable within one year | 42/48 | €87,777 | €80,428 | -€7,350 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €40,721 | €57,451 | +€16,729 | +41.1% |
| Trade debts | 44 | €3,867 | €1,236 | -€2,631 | -68.1% |
| Suppliers | 440/4 | €3,867 | €1,236 | -€2,631 | -68.1% |
| Taxes, remuneration and social security | 45 | €1,267 | €35 | -€1,232 | -97.2% |
| Taxes | 450/3 | €1,267 | €35 | -€1,232 | -97.2% |
| Other amounts payable | 47/48 | €41,921 | €21,706 | -€20,215 | -48.2% |
| Accrued charges and deferred income | 492/3 | €3,354 | €900 | -€2,454 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,445 | €43,735 | +€23,291 | +114% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,000 | €0 | +€15,000 | |
| Other operating charges | 640/8 | €3,448 | €3,648 | +€200 | +5.8% |
| Gross operating margin | 9900 | €75,293 | €114,785 | +€39,492 | +52.5% |
| Operating profit (loss) | 9901 | €66,400 | €67,401 | +€1,002 | +1.5% |
| Financial income | 75/76B | €7,439 | €0 | -€7,439 | -100% |
| Recurring financial income | 75 | €7,439 | €0 | -€7,439 | -100% |
| Financial charges | 65/66B | €22,238 | €28,738 | +€6,500 | +29.2% |
| Recurring financial charges | 65 | €22,238 | €28,738 | +€6,500 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €51,601 | €38,664 | -€12,937 | -25.1% |
| Income taxes | 67/77 | €0 | €8,088 | +€8,088 | |
| Profit (loss) for the period | 9904 | €51,601 | €30,576 | -€21,025 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,601 | €30,576 | -€21,025 | -40.7% |
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 17 October 2026 via checked.be.