GRONDBALANS: what changed
GRONDBALANS
Largest movements
- Cash -€2.2m
down €2.2m (-61.4%), from €3.5m to €1.4m
mainly Receivables within one year (-€1.6m) and Trade debts (-€971,597)
- Receivables within one year +€1.6m
up €1.6m (+32.5%), from €4.9m to €6.5m
of which Other amounts receivable: +€2.7m
- Tangible fixed assets -€143,600
down €143,600 (-30.3%), from €473,962 to €330,362
of which Leasing and similar rights: -€119,758
- Trade debts -€971,597
down €971,597 (-36.8%), from €2.6m to €1.7m
- Reserves +€389,181
up €389,181 (+6.7%), from €5.8m to €6.2m
of which Distributable reserves: +€389,181
- Debts after one year -€122,580
down €122,580 (-46.6%), from €263,268 to €140,688
- Financial income -€2.0m
down €2.0m (-92.9%), from €2.2m to €152,031
of which Non-recurring financial income: -€1.9m
- Gross operating margin -€1.1m
down €1.1m (-59.3%), from €1.9m to €759,549
- Taxes -€228,668
down €228,668 (-62.5%), from €365,838 to €137,170
- Staff costs -€152,080
down €152,080 (-40.8%), from €372,507 to €220,427
- Depreciation -€56,382
down €56,382 (-28.2%), from €199,982 to €143,600
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,867,657 | €8,161,210 | -€706,446 | -8.0% |
| Fixed assets | 21/28 | €473,962 | €330,362 | -€143,600 | -30.3% |
| Tangible fixed assets | 22/27 | €473,962 | €330,362 | -€143,600 | -30.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €72 | €0 | -€72 | -100% |
| Furniture and vehicles | 24 | €94,338 | €70,568 | -€23,770 | -25.2% |
| Leasing and similar rights | 25 | €379,552 | €259,794 | -€119,758 | -31.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €8,393,695 | €7,830,848 | -€562,846 | -6.7% |
| Amounts receivable within one year | 40/41 | €4,874,716 | €6,457,548 | +€1.6m | +32.5% |
| Trade receivables | 40 | €2,796,556 | €1,657,448 | -€1.1m | -40.7% |
| Other amounts receivable | 41 | €2,078,160 | €4,800,101 | +€2.7m | +131% |
| Cash at bank and in hand | 54/58 | €3,517,968 | €1,358,886 | -€2.2m | -61.4% |
| Deferred charges and accrued income | 490/1 | €1,011 | €14,414 | +€13,403 | +1,326% |
| Total equity and liabilities | 10/49 | €8,867,657 | €8,161,210 | -€706,446 | -8.0% |
| Equity | 10/15 | €5,808,759 | €6,197,939 | +€389,181 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,790,159 | €6,179,339 | +€389,181 | +6.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €5,790,159 | €6,179,339 | +€389,181 | +6.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,058,898 | €1,963,271 | -€1.1m | -35.8% |
| Amounts payable after more than one year | 17 | €263,268 | €140,688 | -€122,580 | -46.6% |
| Financial debts | 170/4 | €263,268 | €140,688 | -€122,580 | -46.6% |
| Amounts payable within one year | 42/48 | €2,795,630 | €1,822,583 | -€973,047 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €117,198 | €122,580 | +€5,382 | +4.6% |
| Trade debts | 44 | €2,637,516 | €1,665,919 | -€971,597 | -36.8% |
| Suppliers | 440/4 | €2,637,516 | €1,665,919 | -€971,597 | -36.8% |
| Taxes, remuneration and social security | 45 | €40,916 | €34,084 | -€6,833 | -16.7% |
| Taxes | 450/3 | €3,797 | €15,641 | +€11,844 | +312% |
| Remuneration and social security | 454/9 | €37,120 | €18,443 | -€18,677 | -50.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €95,883 | €19,000 | -€76,883 | -80.2% |
| Remuneration, social security and pensions | 62 | €372,507 | €220,427 | -€152,080 | -40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,982 | €143,600 | -€56,382 | -28.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €49,547 | €0 | -€49,547 | -100% |
| Other operating charges | 640/8 | €10,467 | €5,005 | -€5,462 | -52.2% |
| Gross operating margin | 9900 | €1,866,006 | €759,549 | -€1.1m | -59.3% |
| Operating profit (loss) | 9901 | €1,233,503 | €390,517 | -€842,985 | -68.3% |
| Financial income | 75/76B | €2,154,038 | €152,031 | -€2.0m | -92.9% |
| Recurring financial income | 75 | €249,850 | €152,031 | -€97,819 | -39.2% |
| Non-recurring financial income | 76B | €1,904,188 | €0 | -€1.9m | -100% |
| Financial charges | 65/66B | €40,777 | €16,197 | -€24,579 | -60.3% |
| Recurring financial charges | 65 | €40,777 | €16,197 | -€24,579 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €3,346,764 | €526,351 | -€2.8m | -84.3% |
| Income taxes | 67/77 | €365,838 | €137,170 | -€228,668 | -62.5% |
| Profit (loss) for the period | 9904 | €2,980,926 | €389,181 | -€2.6m | -86.9% |
| Transfer from tax-exempt reserves | 789 | €71,200 | €0 | -€71,200 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €3,052,126 | €389,181 | -€2.7m | -87.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.