GROSCO: 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.
GROSCO
Largest movements
- Tangible fixed assets +€421,291
up €421,291 (+27.2%), from €1.6m to €2.0m
of which Land and buildings: +€430,863
- Receivables within one year +€47,806
up €47,806 (+14.8%), from €323,143 to €370,948
of which Trade receivables: +€33,178
- Other debts +€433,960
up €433,960 (+347.2%), from €125,004 to €558,964
- Profit (loss) carried forward +€64,118
up €64,118 (+49.7%), from €128,967 to €193,085
- Depreciation -€47,641
down €47,641 (-39.9%), from €119,332 to €71,691
- Taxes -€16,280
no longer reported in 2025 (was €16,280)
- Gross operating margin +€12,177
up €12,177 (+7.0%), from €173,562 to €185,738
- Financial income -€12,160
down €12,160 (-97.5%), from €12,470 to €310
of which Non-recurring financial income: -€12,228
- Staff costs +€8,757
new in 2025: €8,757
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 | €1,967,772 | €2,473,886 | +€506,114 | +25.7% |
| Fixed assets | 21/28 | €1,550,205 | €1,971,497 | +€421,291 | +27.2% |
| Tangible fixed assets | 22/27 | €1,550,205 | €1,971,497 | +€421,291 | +27.2% |
| Land and buildings | 22 | €1,490,117 | €1,920,980 | +€430,863 | +28.9% |
| Plant, machinery and equipment | 23 | €60,088 | €50,517 | -€9,572 | -15.9% |
| Current assets | 29/58 | €417,567 | €502,390 | +€84,823 | +20.3% |
| Stocks and contracts in progress | 3 | €32,681 | €51,601 | +€18,920 | +57.9% |
| Stocks | 30/36 | €32,681 | €51,601 | +€18,920 | +57.9% |
| Amounts receivable within one year | 40/41 | €323,143 | €370,948 | +€47,806 | +14.8% |
| Trade receivables | 40 | €176,527 | €209,705 | +€33,178 | +18.8% |
| Other amounts receivable | 41 | €146,616 | €161,244 | +€14,628 | +10.0% |
| Cash at bank and in hand | 54/58 | €15,619 | €16,949 | +€1,330 | +8.5% |
| Deferred charges and accrued income | 490/1 | €46,124 | €62,891 | +€16,767 | +36.4% |
| Total equity and liabilities | 10/49 | €1,967,772 | €2,473,886 | +€506,114 | +25.7% |
| Equity | 10/15 | €331,467 | €395,585 | +€64,118 | +19.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €52,500 | €52,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,967 | €193,085 | +€64,118 | +49.7% |
| Amounts payable | 17/49 | €1,636,305 | €2,078,301 | +€441,996 | +27.0% |
| Amounts payable after more than one year | 17 | €1,271,014 | €1,281,404 | +€10,390 | +0.8% |
| Financial debts | 170/4 | €1,271,014 | €1,281,404 | +€10,390 | +0.8% |
| Amounts payable within one year | 42/48 | €267,545 | €699,151 | +€431,606 | +161.3% |
| Current portion of amounts payable after more than one year | 42 | €126,914 | €123,051 | -€3,863 | -3.0% |
| Trade debts | 44 | €6,100 | €7,890 | +€1,790 | +29.3% |
| Suppliers | 440/4 | €6,100 | €7,890 | +€1,790 | +29.3% |
| Taxes, remuneration and social security | 45 | €9,528 | €9,247 | -€281 | -2.9% |
| Taxes | 450/3 | €9,528 | €6,883 | -€2,645 | -27.8% |
| Remuneration and social security | 454/9 | - | €2,364 | +€2,364 | |
| Other amounts payable | 47/48 | €125,004 | €558,964 | +€433,960 | +347.2% |
| Accrued charges and deferred income | 492/3 | €97,746 | €97,746 | = | 0.0% |
| Non-recurring operating income | 76A | €1,266 | - | -€1,266 | |
| Remuneration, social security and pensions | 62 | - | €8,757 | +€8,757 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,332 | €71,691 | -€47,641 | -39.9% |
| Other operating charges | 640/8 | €6,114 | €5,833 | -€282 | -4.6% |
| Gross operating margin | 9900 | €173,562 | €185,738 | +€12,177 | +7.0% |
| Operating profit (loss) | 9901 | €48,116 | €99,458 | +€51,343 | +106.7% |
| Financial income | 75/76B | €12,470 | €310 | -€12,160 | -97.5% |
| Recurring financial income | 75 | €242 | €310 | +€68 | +28.2% |
| Non-recurring financial income | 76B | €12,228 | - | -€12,228 | |
| Financial charges | 65/66B | €27,775 | €35,650 | +€7,875 | +28.4% |
| Recurring financial charges | 65 | €27,775 | €33,002 | +€5,227 | +18.8% |
| Non-recurring financial charges | 66B | - | €2,648 | +€2,648 | |
| Profit (loss) for the period before taxes | 9903 | €32,811 | €64,118 | +€31,307 | +95.4% |
| Income taxes | 67/77 | €16,280 | - | -€16,280 | |
| Profit (loss) for the period | 9904 | €16,531 | €64,118 | +€47,587 | +287.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,531 | €64,118 | +€47,587 | +287.9% |
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 7 October 2026 via checked.be.