GRONDWERKEN ML: 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.
GRONDWERKEN ML
Largest movements
- Cash -€44,170
down €44,170 (-48.5%), from €91,039 to €46,869
mainly Investment in fixed assets (net) (-€55,056) and Other debts (-€27,823)
- Receivables within one year +€24,383
up €24,383 (+54.9%), from €44,387 to €68,770
of which Trade receivables: +€19,396
- Tangible fixed assets +€14,577
up €14,577 (+15.9%), from €91,562 to €106,139
of which Plant, machinery and equipment: +€35,975
- Reserves +€42,414
up €42,414 (+56.8%), from €74,635 to €117,049
- Other debts -€27,823
no longer reported in 2025 (was €27,823)
- Trade debts -€23,614
down €23,614 (-49.2%), from €48,008 to €24,393
- Debts after one year +€5,423
up €5,423 (+18.5%), from €29,304 to €34,727
- Current portion of long-term debt +€3,653
up €3,653 (+14.1%), from €25,833 to €29,486
- Gross operating margin +€22,543
up €22,543 (+26.5%), from €85,103 to €107,646
- Depreciation +€7,752
up €7,752 (+23.3%), from €33,218 to €40,970
- Taxes +€7,255
up €7,255 (+61.9%), from €11,720 to €18,974
- Financial charges -€3,004
down €3,004 (-68.5%), from €4,384 to €1,380
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.
Derived cash bridge
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 | €229,009 | €223,308 | -€5,701 | -2.5% |
| Formation expenses | 20 | €598 | €107 | -€491 | -82.1% |
| Fixed assets | 21/28 | €91,562 | €106,139 | +€14,577 | +15.9% |
| Tangible fixed assets | 22/27 | €91,562 | €106,139 | +€14,577 | +15.9% |
| Plant, machinery and equipment | 23 | €35,113 | €71,088 | +€35,975 | +102% |
| Furniture and vehicles | 24 | €15,546 | €10,847 | -€4,698 | -30.2% |
| Leasing and similar rights | 25 | €40,904 | €24,204 | -€16,700 | -40.8% |
| Current assets | 29/58 | €136,849 | €117,062 | -€19,787 | -14.5% |
| Amounts receivable within one year | 40/41 | €44,387 | €68,770 | +€24,383 | +54.9% |
| Trade receivables | 40 | €29,878 | €49,273 | +€19,396 | +64.9% |
| Other amounts receivable | 41 | €14,509 | €19,497 | +€4,988 | +34.4% |
| Cash at bank and in hand | 54/58 | €91,039 | €46,869 | -€44,170 | -48.5% |
| Deferred charges and accrued income | 490/1 | €1,423 | €1,423 | = | 0.0% |
| Total equity and liabilities | 10/49 | €229,009 | €223,308 | -€5,701 | -2.5% |
| Equity | 10/15 | €91,259 | €133,673 | +€42,414 | +46.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €74,635 | €117,049 | +€42,414 | +56.8% |
| Distributable reserves | 133 | €74,635 | €117,049 | +€42,414 | +56.8% |
| Profit (loss) carried forward | 14 | €14,623 | €14,623 | = | 0.0% |
| Amounts payable | 17/49 | €137,750 | €89,635 | -€48,115 | -34.9% |
| Amounts payable after more than one year | 17 | €29,304 | €34,727 | +€5,423 | +18.5% |
| Financial debts | 170/4 | €29,304 | €34,727 | +€5,423 | +18.5% |
| Amounts payable within one year | 42/48 | €105,378 | €54,909 | -€50,469 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €25,833 | €29,486 | +€3,653 | +14.1% |
| Trade debts | 44 | €48,008 | €24,393 | -€23,614 | -49.2% |
| Suppliers | 440/4 | €48,008 | €24,393 | -€23,614 | -49.2% |
| Taxes, remuneration and social security | 45 | €3,715 | €1,029 | -€2,686 | -72.3% |
| Taxes | 450/3 | €3,715 | €1,029 | -€2,686 | -72.3% |
| Other amounts payable | 47/48 | €27,823 | - | -€27,823 | |
| Accrued charges and deferred income | 492/3 | €3,068 | - | -€3,068 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,218 | €40,970 | +€7,752 | +23.3% |
| Other operating charges | 640/8 | €4,229 | €4,045 | -€184 | -4.3% |
| Gross operating margin | 9900 | €85,103 | €107,646 | +€22,543 | +26.5% |
| Operating profit (loss) | 9901 | €47,656 | €62,632 | +€14,975 | +31.4% |
| Financial income | 75/76B | - | €137 | +€137 | |
| Recurring financial income | 75 | - | €137 | +€137 | |
| Financial charges | 65/66B | €4,384 | €1,380 | -€3,004 | -68.5% |
| Recurring financial charges | 65 | €4,384 | €1,380 | -€3,004 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | €43,273 | €61,388 | +€18,116 | +41.9% |
| Income taxes | 67/77 | €11,720 | €18,974 | +€7,255 | +61.9% |
| Profit (loss) for the period | 9904 | €31,553 | €42,414 | +€10,861 | +34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,553 | €42,414 | +€10,861 | +34.4% |
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 26 October 2026 via checked.be.