GRONDPADMAN: 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.
GRONDPADMAN
Largest movements
- Cash -€114,466
down €114,466 (-59.6%), from €192,145 to €77,679
mainly Net result for the year (-€70,735) and Debts after one year (-€36,554)
- Receivables within one year +€26,828
up €26,828 (+1337.3%), from €2,006 to €28,834
of which Other amounts receivable: +€19,803
- Tangible fixed assets -€19,978
down €19,978 (-7.8%), from €257,034 to €237,055
of which Land and buildings: -€19,580
- Profit (loss) carried forward -€70,735
down €70,735 (-13.9%), from -€508,254 to -€578,988
- Debts after one year -€36,554
down €36,554 (-31.0%), from €118,051 to €81,497
- Gross operating margin -€183,888
down €183,888, from €144,259 to -€39,629
- Write-downs -€21,450
down €21,450 (-100.0%), from €21,450 to €0
- Financial charges -€7,291
down €7,291 (-53.4%), from €13,641 to €6,350
- Depreciation -€3,649
down €3,649 (-15.4%), from €23,628 to €19,978
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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €483,196 | €375,619 | -€107,577 | -22.3% |
| Fixed assets | 21/28 | €257,034 | €237,055 | -€19,978 | -7.8% |
| Tangible fixed assets | 22/27 | €257,034 | €237,055 | -€19,978 | -7.8% |
| Land and buildings | 22 | €256,024 | €236,444 | -€19,580 | -7.6% |
| Plant, machinery and equipment | 23 | €210 | €52 | -€158 | -75.3% |
| Furniture and vehicles | 24 | €800 | €560 | -€240 | -30.0% |
| Current assets | 29/58 | €226,162 | €138,564 | -€87,598 | -38.7% |
| Stocks and contracts in progress | 3 | €32,010 | €32,010 | = | 0.0% |
| Stocks | 30/36 | €32,010 | €32,010 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,006 | €28,834 | +€26,828 | +1337.3% |
| Trade receivables | 40 | €1,198 | €8,223 | +€7,025 | +586.4% |
| Other amounts receivable | 41 | €808 | €20,611 | +€19,803 | +2450.6% |
| Cash at bank and in hand | 54/58 | €192,145 | €77,679 | -€114,466 | -59.6% |
| Deferred charges and accrued income | 490/1 | - | €40 | +€40 | |
| Total equity and liabilities | 10/49 | €483,196 | €375,619 | -€107,577 | -22.3% |
| Equity | 10/15 | -€337,459 | -€408,193 | -€70,735 | -21.0% |
| Contributions | 10/11 | €87,038 | €87,038 | = | 0.0% |
| Capital | 10 | €87,038 | €87,038 | = | 0.0% |
| Issued capital | 100 | €87,038 | €87,038 | = | 0.0% |
| Reserves | 13 | €83,757 | €83,757 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,757 | €8,757 | = | 0.0% |
| Legal reserve | 130 | €8,757 | €8,757 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€508,254 | -€578,988 | -€70,735 | -13.9% |
| Amounts payable | 17/49 | €820,654 | €783,812 | -€36,842 | -4.5% |
| Amounts payable after more than one year | 17 | €118,051 | €81,497 | -€36,554 | -31.0% |
| Financial debts | 170/4 | €118,051 | €81,497 | -€36,554 | -31.0% |
| Amounts payable within one year | 42/48 | €702,603 | €702,315 | -€288 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €34,987 | €36,554 | +€1,567 | +4.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,351 | €1,118 | -€1,232 | -52.4% |
| Suppliers | 440/4 | €2,351 | €1,118 | -€1,232 | -52.4% |
| Taxes, remuneration and social security | 45 | €0 | €35 | +€35 | |
| Taxes | 450/3 | €0 | €35 | +€35 | |
| Other amounts payable | 47/48 | €665,265 | €664,607 | -€658 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,628 | €19,978 | -€3,649 | -15.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,450 | €0 | -€21,450 | -100.0% |
| Other operating charges | 640/8 | €4,129 | €4,817 | +€688 | +16.7% |
| Non-recurring operating charges | 66A | €225 | €0 | -€225 | -100.0% |
| Gross operating margin | 9900 | €144,259 | -€39,629 | -€183,888 | |
| Operating profit (loss) | 9901 | €94,826 | -€64,425 | -€159,251 | |
| Financial income | 75/76B | €22 | €40 | +€18 | +79.9% |
| Recurring financial income | 75 | €22 | €40 | +€18 | +79.9% |
| Financial charges | 65/66B | €13,641 | €6,350 | -€7,291 | -53.4% |
| Recurring financial charges | 65 | €13,641 | €6,350 | -€7,291 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €81,208 | -€70,735 | -€151,943 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €81,208 | -€70,735 | -€151,943 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,208 | -€70,735 | -€151,943 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.