GRONDWERKEN VOET: what changed
GRONDWERKEN VOET
Largest movements
- Cash -€70,520
down €70,520 (-40.2%), from €175,368 to €104,847
mainly Investment in fixed assets (net) (-€95,818) and Net result for the year (-€8,581)
- Tangible fixed assets +€52,942
up €52,942 (+50.1%), from €105,750 to €158,692
of which Furniture and vehicles: +€33,222
- Stocks and contracts -€8,668
down €8,668 (-14.7%), from €58,840 to €50,172
- Receivables within one year +€6,020
up €6,020 (+5.6%), from €108,304 to €114,324
of which Trade receivables: +€8,513
- Deferred charges and accrued income -€5,590
down €5,590 (-45.8%), from €12,196 to €6,606
- Reserves -€8,581
down €8,581 (-3.1%), from €277,504 to €268,922
of which Distributable reserves: -€8,581
- Trade debts -€8,547
down €8,547 (-49.0%), from €17,454 to €8,907
- Other debts +€7,821
up €7,821 (+7.7%), from €101,851 to €109,671
- Debts after one year -€7,535
no longer reported in 2025 (was €7,535)
- Accrued charges and deferred income -€6,452
no longer reported in 2025 (was €6,452)
- Gross operating margin -€34,112
down €34,112 (-44.4%), from €76,830 to €42,718
- Financial charges -€6,473
down €6,473 (-86.9%), from €7,451 to €978
- Depreciation -€6,033
down €6,033 (-12.3%), from €48,909 to €42,875
- Other operating charges +€3,437
up €3,437 (+84.4%), from €4,071 to €7,508
- Taxes -€2,313
down €2,313 (-94.3%), from €2,454 to €141
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 | €460,728 | €434,912 | -€25,815 | -5.6% |
| Fixed assets | 21/28 | €106,020 | €158,962 | +€52,942 | +49.9% |
| Tangible fixed assets | 22/27 | €105,750 | €158,692 | +€52,942 | +50.1% |
| Land and buildings | 22 | €5,129 | €4,345 | -€784 | -15.3% |
| Plant, machinery and equipment | 23 | €47,311 | €68,015 | +€20,704 | +43.8% |
| Furniture and vehicles | 24 | €52,529 | €85,751 | +€33,222 | +63.2% |
| Other tangible fixed assets | 26 | €780 | €581 | -€199 | -25.5% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €354,708 | €275,950 | -€78,758 | -22.2% |
| Stocks and contracts in progress | 3 | €58,840 | €50,172 | -€8,668 | -14.7% |
| Stocks | 30/36 | €58,840 | €50,172 | -€8,668 | -14.7% |
| Amounts receivable within one year | 40/41 | €108,304 | €114,324 | +€6,020 | +5.6% |
| Trade receivables | 40 | €89,467 | €97,981 | +€8,513 | +9.5% |
| Other amounts receivable | 41 | €18,837 | €16,344 | -€2,494 | -13.2% |
| Cash at bank and in hand | 54/58 | €175,368 | €104,847 | -€70,520 | -40.2% |
| Deferred charges and accrued income | 490/1 | €12,196 | €6,606 | -€5,590 | -45.8% |
| Total equity and liabilities | 10/49 | €460,728 | €434,912 | -€25,815 | -5.6% |
| Equity | 10/15 | €307,567 | €298,985 | -€8,581 | -2.8% |
| Contributions | 10/11 | €30,063 | €30,063 | = | 0.0% |
| Reserves | 13 | €277,504 | €268,922 | -€8,581 | -3.1% |
| Non-distributable reserves | 130/1 | €3,750 | €3,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,750 | €3,750 | = | 0.0% |
| Distributable reserves | 133 | €273,754 | €265,172 | -€8,581 | -3.1% |
| Amounts payable | 17/49 | €153,161 | €135,927 | -€17,234 | -11.3% |
| Amounts payable after more than one year | 17 | €7,535 | - | -€7,535 | |
| Financial debts | 170/4 | €7,535 | - | -€7,535 | |
| Amounts payable within one year | 42/48 | €139,174 | €135,927 | -€3,247 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €7,920 | €7,535 | -€385 | -4.9% |
| Trade debts | 44 | €17,454 | €8,907 | -€8,547 | -49.0% |
| Suppliers | 440/4 | €17,454 | €8,907 | -€8,547 | -49.0% |
| Taxes, remuneration and social security | 45 | €11,949 | €9,813 | -€2,136 | -17.9% |
| Taxes | 450/3 | €11,949 | €9,813 | -€2,136 | -17.9% |
| Other amounts payable | 47/48 | €101,851 | €109,671 | +€7,821 | +7.7% |
| Accrued charges and deferred income | 492/3 | €6,452 | - | -€6,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,909 | €42,875 | -€6,033 | -12.3% |
| Other operating charges | 640/8 | €4,071 | €7,508 | +€3,437 | +84.4% |
| Gross operating margin | 9900 | €76,830 | €42,718 | -€34,112 | -44.4% |
| Operating profit (loss) | 9901 | €23,851 | -€7,665 | -€31,516 | |
| Financial income | 75/76B | €1,601 | €203 | -€1,398 | -87.3% |
| Recurring financial income | 75 | €101 | €53 | -€48 | -47.4% |
| Non-recurring financial income | 76B | €1,500 | €150 | -€1,350 | -90.0% |
| Financial charges | 65/66B | €7,451 | €978 | -€6,473 | -86.9% |
| Recurring financial charges | 65 | €7,451 | €978 | -€6,473 | -86.9% |
| Profit (loss) for the period before taxes | 9903 | €18,001 | -€8,441 | -€26,442 | |
| Income taxes | 67/77 | €2,454 | €141 | -€2,313 | -94.3% |
| Profit (loss) for the period | 9904 | €15,547 | -€8,581 | -€24,129 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,547 | -€8,581 | -€24,129 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.