GROHE: 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.
What changed
GROHE
NACE 46.842, Wholesale trade
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€661,688
2025 · €1.0m-€339,034
Equity
€2.4m
2025 · €2.3m+€21,688
Cash
-
not filed
Balance sheet total
€9.9m
2025 · €10.9m-€920,459
Largest movements
Assets
- Receivables within one year -€689,349
down €689,349 (-7.2%), from €9.6m to €9.0m
of which Trade receivables: -€460,487
- Tangible fixed assets -€217,192
down €217,192 (-21.9%), from €991,349 to €774,157
of which Other tangible fixed assets: -€165,308
Equity and liabilities
- Advances received -€834,000
no longer reported in 2026 (was €834,000)
- Trade debts +€753,301
up €753,301 (+17.1%), from €4.4m to €5.1m
- Tax, wage and social debts -€438,617
down €438,617 (-20.0%), from €2.2m to €1.8m
of which Remuneration and social security: -€243,920
- Other debts -€384,000
down €384,000 (-37.5%), from €1.0m to €640,000
Income statement
- Turnover -€2.4m
down €2.4m (-6.5%), from €37.9m to €35.4m
- Goods and materials -€1.0m
down €1.0m (-3.7%), from €27.4m to €26.4m
of which Purchases: -€1.1m
- Staff costs -€416,821
down €416,821 (-8.8%), from €4.7m to €4.3m
From the 2025 result to the 2026 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.
Result 2025
€1.0m
Turnover
-€2.4m
Other operating income
+€4,000
Goods and materials
+€1.0m
Services and other goods
+€261,648
Staff costs
+€416,821
Depreciation
+€5,707
Write-downs
+€216,503
Other operating charges
-€1,044
Financial income
-€93,712
Financial charges
+€162,233
Taxes
+€137,606
Result 2026
€661,688
raises the resultlowers the result
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,863,394 | €9,942,935 | -€920,459 | -8.5% |
| Fixed assets | 21/28 | €999,391 | €821,365 | -€178,026 | -17.8% |
| Intangible fixed assets | 21 | €8,042 | €47,208 | +€39,166 | +487% |
| Tangible fixed assets | 22/27 | €991,349 | €774,157 | -€217,192 | -21.9% |
| Furniture and vehicles | 24 | €425,320 | €373,436 | -€51,884 | -12.2% |
| Other tangible fixed assets | 26 | €566,029 | €400,721 | -€165,308 | -29.2% |
| Current assets | 29/58 | €9,864,003 | €9,121,570 | -€742,433 | -7.5% |
| Stocks and contracts in progress | 3 | €190,365 | €137,274 | -€53,091 | -27.9% |
| Stocks | 30/36 | €190,365 | €137,274 | -€53,091 | -27.9% |
| Goods purchased for resale | 34 | €190,365 | €137,274 | -€53,091 | -27.9% |
| Amounts receivable within one year | 40/41 | €9,639,742 | €8,950,393 | -€689,349 | -7.2% |
| Trade receivables | 40 | €4,093,425 | €3,632,938 | -€460,487 | -11.2% |
| Other amounts receivable | 41 | €5,546,317 | €5,317,455 | -€228,862 | -4.1% |
| Deferred charges and accrued income | 490/1 | €33,896 | €33,903 | +€7 | 0.0% |
| Total equity and liabilities | 10/49 | €10,863,394 | €9,942,935 | -€920,459 | -8.5% |
| Equity | 10/15 | €2,332,965 | €2,354,653 | +€21,688 | +0.9% |
| Contributions | 10/11 | €1,983,148 | €1,983,148 | = | 0.0% |
| Capital | 10 | €1,983,148 | €1,983,148 | = | 0.0% |
| Issued capital | 100 | €1,983,148 | €1,983,148 | = | 0.0% |
| Reserves | 13 | €198,315 | €198,315 | = | 0.0% |
| Non-distributable reserves | 130/1 | €198,315 | €198,315 | = | 0.0% |
| Legal reserve | 130 | €198,315 | €198,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,502 | €173,190 | +€21,688 | +14.3% |
| Amounts payable | 17/49 | €8,530,429 | €7,588,282 | -€942,147 | -11.0% |
| Amounts payable within one year | 42/48 | €8,452,304 | €7,547,657 | -€904,647 | -10.7% |
| Financial debts | 43 | €4,217 | €2,886 | -€1,331 | -31.6% |
| Credit institutions | 430/8 | €4,217 | €2,886 | -€1,331 | -31.6% |
| Trade debts | 44 | €4,396,663 | €5,149,964 | +€753,301 | +17.1% |
| Suppliers | 440/4 | €4,396,663 | €5,149,964 | +€753,301 | +17.1% |
| Advances received on contracts in progress | 46 | €834,000 | - | -€834,000 | |
| Taxes, remuneration and social security | 45 | €2,193,424 | €1,754,807 | -€438,617 | -20.0% |
| Taxes | 450/3 | €912,354 | €717,657 | -€194,697 | -21.3% |
| Remuneration and social security | 454/9 | €1,281,070 | €1,037,150 | -€243,920 | -19.0% |
| Other amounts payable | 47/48 | €1,024,000 | €640,000 | -€384,000 | -37.5% |
| Accrued charges and deferred income | 492/3 | €78,125 | €40,625 | -€37,500 | -48.0% |
| Operating income | 70/76A | €38,020,366 | €35,574,372 | -€2.4m | -6.4% |
| Turnover | 70 | €37,876,696 | €35,426,702 | -€2.4m | -6.5% |
| Other operating income | 74 | €143,670 | €147,670 | +€4,000 | +2.8% |
| Operating charges | 60/66A | €35,723,174 | €33,822,341 | -€1.9m | -5.3% |
| Goods for resale, raw materials and consumables | 60 | €27,409,216 | €26,408,018 | -€1.0m | -3.7% |
| Purchases | 600/8 | €27,288,621 | €26,184,282 | -€1.1m | -4.0% |
| Change in stocks: decrease (increase) | 609 | €120,595 | €223,736 | +€103,141 | +85.5% |
| Services and other goods | 61 | €3,130,845 | €2,869,197 | -€261,648 | -8.4% |
| Remuneration, social security and pensions | 62 | €4,740,486 | €4,323,665 | -€416,821 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333,691 | €327,984 | -€5,707 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €68,931 | -€147,572 | -€216,503 | |
| Other operating charges | 640/8 | €40,005 | €41,049 | +€1,044 | +2.6% |
| Operating profit (loss) | 9901 | €2,297,192 | €1,752,031 | -€545,161 | -23.7% |
| Financial income | 75/76B | €161,041 | €67,329 | -€93,712 | -58.2% |
| Recurring financial income | 75 | €161,041 | €67,329 | -€93,712 | -58.2% |
| Income from current assets | 751 | €160,213 | €66,260 | -€93,953 | -58.6% |
| Other financial income | 752/9 | €828 | €1,069 | +€241 | +29.1% |
| Financial charges | 65/66B | €1,021,810 | €859,577 | -€162,233 | -15.9% |
| Recurring financial charges | 65 | €1,021,810 | €859,577 | -€162,233 | -15.9% |
| Other financial charges | 652/9 | €1,021,810 | €859,577 | -€162,233 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €1,436,423 | €959,783 | -€476,640 | -33.2% |
| Income taxes | 67/77 | €435,701 | €298,095 | -€137,606 | -31.6% |
| Taxes | 670/3 | €435,701 | €298,095 | -€137,606 | -31.6% |
| Profit (loss) for the period | 9904 | €1,000,722 | €661,688 | -€339,034 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,000,722 | €661,688 | -€339,034 | -33.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.