GROND STUDIO: what changed
Two fiscal 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.
GROND STUDIO
Largest movements
- Financial fixed assets -€20,416
no longer reported in 2025 (was €20,416)
- Receivables within one year -€2,430
down €2,430 (-11.4%), from €21,269 to €18,838
of which Trade receivables: -€4,371
- Tangible fixed assets -€1,247
down €1,247 (-2.8%), from €44,180 to €42,933
of which Furniture and vehicles: -€6,446
- Trade debts +€19,832
up €19,832 (+16788.1%), from €118 to €19,950
- Other debts -€18,301
down €18,301 (-59.3%), from €30,837 to €12,536
- Debts after one year -€11,253
down €11,253 (-86.3%), from €13,035 to €1,782
- Profit (loss) carried forward -€10,071
down €10,071 (-51.7%), from €19,491 to €9,421
- Tax, wage and social debts -€5,352
down €5,352 (-48.6%), from €11,012 to €5,659
- Turnover -€259,559
down €259,559 (-68.7%), from €377,789 to €118,230
- Purchases and services -€220,882
down €220,882 (-66.3%), from €333,046 to €112,164
- Gross operating margin -€36,506
down €36,506 (-81.3%), from €44,923 to €8,417
- Taxes -€5,584
no longer reported in 2025 (was €5,584)
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 | €88,663 | €64,755 | -€23,908 | -27.0% |
| Fixed assets | 21/28 | €67,394 | €45,412 | -€21,982 | -32.6% |
| Intangible fixed assets | 21 | €2,798 | €2,479 | -€319 | -11.4% |
| Tangible fixed assets | 22/27 | €44,180 | €42,933 | -€1,247 | -2.8% |
| Plant, machinery and equipment | 23 | €17,641 | €22,840 | +€5,199 | +29.5% |
| Furniture and vehicles | 24 | €26,539 | €20,093 | -€6,446 | -24.3% |
| Financial fixed assets | 28 | €20,416 | - | -€20,416 | |
| Current assets | 29/58 | €21,269 | €19,343 | -€1,926 | -9.1% |
| Amounts receivable within one year | 40/41 | €21,269 | €18,838 | -€2,430 | -11.4% |
| Trade receivables | 40 | €21,000 | €16,629 | -€4,371 | -20.8% |
| Other amounts receivable | 41 | €269 | €2,209 | +€1,940 | +722.2% |
| Cash at bank and in hand | 54/58 | - | €504 | +€504 | |
| Total equity and liabilities | 10/49 | €88,663 | €64,755 | -€23,908 | -27.0% |
| Equity | 10/15 | €24,491 | €14,421 | -€10,071 | -41.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | - | €5,000 | +€5,000 | |
| Share premium | 1100/10 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | €19,491 | €9,421 | -€10,071 | -51.7% |
| Amounts payable | 17/49 | €64,171 | €50,334 | -€13,837 | -21.6% |
| Amounts payable after more than one year | 17 | €13,035 | €1,782 | -€11,253 | -86.3% |
| Financial debts | 170/4 | €13,035 | €1,782 | -€11,253 | -86.3% |
| Amounts payable within one year | 42/48 | €51,137 | €48,552 | -€2,584 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €9,087 | €10,407 | +€1,320 | +14.5% |
| Financial debts | 43 | €82 | - | -€82 | |
| Credit institutions | 430/8 | €82 | - | -€82 | |
| Trade debts | 44 | €118 | €19,950 | +€19,832 | +16788.1% |
| Suppliers | 440/4 | €118 | €19,950 | +€19,832 | +16788.1% |
| Taxes, remuneration and social security | 45 | €11,012 | €5,659 | -€5,352 | -48.6% |
| Taxes | 450/3 | €11,012 | €5,659 | -€5,352 | -48.6% |
| Other amounts payable | 47/48 | €30,837 | €12,536 | -€18,301 | -59.3% |
| Turnover | 70 | €377,789 | €118,230 | -€259,559 | -68.7% |
| Non-recurring operating income | 76A | - | €2,207 | +€2,207 | |
| Goods, raw materials, services and sundry goods | 60/61 | €333,046 | €112,164 | -€220,882 | -66.3% |
| Remuneration, social security and pensions | 62 | - | €2,021 | +€2,021 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,969 | €14,147 | +€178 | +1.3% |
| Other operating charges | 640/8 | €4,078 | €340 | -€3,738 | -91.7% |
| Gross operating margin | 9900 | €44,923 | €8,417 | -€36,506 | -81.3% |
| Operating profit (loss) | 9901 | €26,876 | -€8,091 | -€34,967 | |
| Financial income | 75/76B | €361 | €49 | -€312 | -86.5% |
| Recurring financial income | 75 | €361 | €49 | -€312 | -86.5% |
| Financial charges | 65/66B | €2,162 | €2,029 | -€134 | -6.2% |
| Recurring financial charges | 65 | €2,162 | €2,029 | -€134 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €25,075 | -€10,071 | -€35,145 | |
| Income taxes | 67/77 | €5,584 | - | -€5,584 | |
| Profit (loss) for the period | 9904 | €19,491 | -€10,071 | -€29,562 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,491 | -€10,071 | -€29,562 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.