GROKA: 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
GROKA
NACE 42.220, Construction of utility projects for electricity and telecommunications
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€163,860
2024 · €46,879+€116,980
Equity
€1.4m
2024 · €1.4m+€54,860
Cash
€32,187
2024 · €30,257+€1,930
Balance sheet total
€2.2m
2024 · €1.9m+€302,957
Largest movements
Assets
- Receivables within one year +€256,539
up €256,539 (+17.4%), from €1.5m to €1.7m
of which Trade receivables: +€248,928
- Financial fixed assets +€39,920
up €39,920 (+9856.8%), from €405 to €40,325
Equity and liabilities
- Other debts +€374,351
up €374,351 (+2873.4%), from €13,028 to €387,379
- Trade debts -€164,099
down €164,099 (-66.5%), from €246,950 to €82,851
- Reserves +€54,860
up €54,860 (+4.1%), from €1.3m to €1.4m
Income statement
- Gross operating margin +€168,278
up €168,278 (+15.4%), from €1.1m to €1.3m
- Staff costs +€71,257
up €71,257 (+7.5%), from €946,391 to €1.0m
- Depreciation -€20,210
down €20,210 (-38.2%), from €52,941 to €32,731
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.
Result 2024
€46,879
Gross operating margin
+€168,278
Staff costs
-€71,257
Depreciation
+€20,210
Other operating charges
+€312
Financial income
+€2
Financial charges
+€518
Taxes
-€1,083
Result 2025
€163,860
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.
From operations
+€173,531
Investment
-€94,042
Financing
-€77,559
Cash 2024
€30,257
From operations (derived)
+€173,531
Net result for the year
+€163,860
Depreciation
+€32,731
Receivables within one year
-€256,539
Deferred charges and accrued income
+€16,823
Trade debts
-€164,099
Tax, wage and social debts
+€13,697
Other debts
+€374,351
Accrued charges and deferred income
-€7,292
Investment (derived)
-€94,042
Investment in fixed assets (net)
-€94,042
Financing
-€77,559
Debts after one year
+€13,087
Current portion of long-term debt
+€9,558
Short-term financial debts
+€8,796
Contributions, distributions and other
-€109,000
Cash 2025
€32,187
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,929,458 | €2,232,415 | +€302,957 | +15.7% |
| Fixed assets | 21/28 | €397,227 | €458,539 | +€61,311 | +15.4% |
| Tangible fixed assets | 22/27 | €396,822 | €418,214 | +€21,391 | +5.4% |
| Land and buildings | 22 | €310,935 | €310,133 | -€801 | -0.3% |
| Plant, machinery and equipment | 23 | €7,582 | €8,730 | +€1,148 | +15.1% |
| Furniture and vehicles | 24 | €9,500 | €9,114 | -€386 | -4.1% |
| Leasing and similar rights | 25 | €68,806 | €90,237 | +€21,431 | +31.1% |
| Financial fixed assets | 28 | €405 | €40,325 | +€39,920 | +9856.8% |
| Current assets | 29/58 | €1,532,231 | €1,773,877 | +€241,646 | +15.8% |
| Amounts receivable within one year | 40/41 | €1,476,849 | €1,733,388 | +€256,539 | +17.4% |
| Trade receivables | 40 | €1,467,841 | €1,716,769 | +€248,928 | +17.0% |
| Other amounts receivable | 41 | €9,008 | €16,619 | +€7,611 | +84.5% |
| Cash at bank and in hand | 54/58 | €30,257 | €32,187 | +€1,930 | +6.4% |
| Deferred charges and accrued income | 490/1 | €25,125 | €8,302 | -€16,823 | -67.0% |
| Total equity and liabilities | 10/49 | €1,929,458 | €2,232,415 | +€302,957 | +15.7% |
| Equity | 10/15 | €1,385,479 | €1,440,339 | +€54,860 | +4.0% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €1,330,479 | €1,385,339 | +€54,860 | +4.1% |
| Distributable reserves | 133 | €1,330,479 | €1,385,339 | +€54,860 | +4.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €543,979 | €792,076 | +€248,098 | +45.6% |
| Amounts payable after more than one year | 17 | €49,295 | €62,382 | +€13,087 | +26.5% |
| Financial debts | 170/4 | €49,295 | €62,382 | +€13,087 | +26.5% |
| Amounts payable within one year | 42/48 | €485,190 | €727,493 | +€242,303 | +49.9% |
| Current portion of amounts payable after more than one year | 42 | €18,929 | €28,486 | +€9,558 | +50.5% |
| Financial debts | 43 | €150,000 | €158,796 | +€8,796 | +5.9% |
| Credit institutions | 430/8 | €150,000 | €158,796 | +€8,796 | +5.9% |
| Trade debts | 44 | €246,950 | €82,851 | -€164,099 | -66.5% |
| Suppliers | 440/4 | €246,950 | €82,851 | -€164,099 | -66.5% |
| Taxes, remuneration and social security | 45 | €56,283 | €69,981 | +€13,697 | +24.3% |
| Taxes | 450/3 | €20,865 | €27,940 | +€7,075 | +33.9% |
| Remuneration and social security | 454/9 | €35,418 | €42,040 | +€6,622 | +18.7% |
| Other amounts payable | 47/48 | €13,028 | €387,379 | +€374,351 | +2873.4% |
| Accrued charges and deferred income | 492/3 | €9,493 | €2,201 | -€7,292 | -76.8% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100.0% |
| Remuneration, social security and pensions | 62 | €946,391 | €1,017,648 | +€71,257 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,941 | €32,731 | -€20,210 | -38.2% |
| Other operating charges | 640/8 | €4,563 | €4,250 | -€312 | -6.8% |
| Gross operating margin | 9900 | €1,089,262 | €1,257,540 | +€168,278 | +15.4% |
| Operating profit (loss) | 9901 | €85,368 | €202,911 | +€117,543 | +137.7% |
| Financial income | 75/76B | €1 | €3 | +€2 | +184.6% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +184.6% |
| Financial charges | 65/66B | €17,869 | €17,352 | -€518 | -2.9% |
| Recurring financial charges | 65 | €17,869 | €17,352 | -€518 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €67,500 | €185,563 | +€118,063 | +174.9% |
| Income taxes | 67/77 | €20,620 | €21,703 | +€1,083 | +5.3% |
| Profit (loss) for the period | 9904 | €46,879 | €163,860 | +€116,980 | +249.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,879 | €163,860 | +€116,980 | +249.5% |
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 11 October 2026 via checked.be.