GROSEMANS: 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.
GROSEMANS
Largest movements
- Receivables within one year +€166,831
up €166,831 (+78.3%), from €213,085 to €379,916
of which Trade receivables: +€156,149
- Tangible fixed assets -€74,694
down €74,694 (-13.8%), from €540,195 to €465,501
- Cash -€66,161
down €66,161 (-24.4%), from €271,134 to €204,973
mainly Receivables within one year (-€166,831) and Stocks and contracts (-€62,420)
- Stocks and contracts +€62,420
up €62,420 (+52.4%), from €119,210 to €181,630
- Trade debts +€38,063
up €38,063 (+28.8%), from €131,974 to €170,037
- Profit (loss) carried forward +€27,892
up €27,892 (+8.2%), from €341,636 to €369,528
- Other debts +€23,453
up €23,453 (+115.2%), from €20,356 to €43,809
- Tax, wage and social debts +€18,327
up €18,327 (+55.9%), from €32,813 to €51,140
of which Remuneration and social security: +€15,350
- Debts after one year -€18,189
down €18,189 (-5.7%), from €319,956 to €301,767
- Gross operating margin -€38,300
down €38,300 (-8.3%), from €459,656 to €421,356
- Staff costs -€11,767
down €11,767 (-4.2%), from €282,223 to €270,456
- Taxes -€6,741
down €6,741 (-41.6%), from €16,203 to €9,462
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 | €1,143,624 | €1,232,020 | +€88,396 | +7.7% |
| Fixed assets | 21/28 | €540,195 | €465,501 | -€74,694 | -13.8% |
| Tangible fixed assets | 22/27 | €540,195 | €465,501 | -€74,694 | -13.8% |
| Land and buildings | 22 | €429,601 | €396,695 | -€32,906 | -7.7% |
| Plant, machinery and equipment | 23 | €47,006 | €30,724 | -€16,282 | -34.6% |
| Furniture and vehicles | 24 | €63,588 | €38,082 | -€25,506 | -40.1% |
| Current assets | 29/58 | €603,429 | €766,519 | +€163,090 | +27.0% |
| Stocks and contracts in progress | 3 | €119,210 | €181,630 | +€62,420 | +52.4% |
| Stocks | 30/36 | €119,210 | €181,630 | +€62,420 | +52.4% |
| Amounts receivable within one year | 40/41 | €213,085 | €379,916 | +€166,831 | +78.3% |
| Trade receivables | 40 | €206,892 | €363,041 | +€156,149 | +75.5% |
| Other amounts receivable | 41 | €6,193 | €16,875 | +€10,682 | +172.5% |
| Cash at bank and in hand | 54/58 | €271,134 | €204,973 | -€66,161 | -24.4% |
| Total equity and liabilities | 10/49 | €1,143,624 | €1,232,020 | +€88,396 | +7.7% |
| Equity | 10/15 | €616,489 | €644,381 | +€27,892 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €256,253 | €256,253 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €248,253 | €248,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | €341,636 | €369,528 | +€27,892 | +8.2% |
| Amounts payable | 17/49 | €527,135 | €587,639 | +€60,504 | +11.5% |
| Amounts payable after more than one year | 17 | €319,956 | €301,767 | -€18,189 | -5.7% |
| Financial debts | 170/4 | €319,956 | €301,767 | -€18,189 | -5.7% |
| Amounts payable within one year | 42/48 | €205,596 | €283,176 | +€77,580 | +37.7% |
| Financial debts | 43 | €20,453 | €18,190 | -€2,263 | -11.1% |
| Credit institutions | 430/8 | €20,453 | €18,190 | -€2,263 | -11.1% |
| Trade debts | 44 | €131,974 | €170,037 | +€38,063 | +28.8% |
| Suppliers | 440/4 | €131,974 | €170,037 | +€38,063 | +28.8% |
| Taxes, remuneration and social security | 45 | €32,813 | €51,140 | +€18,327 | +55.9% |
| Taxes | 450/3 | €5,243 | €8,220 | +€2,977 | +56.8% |
| Remuneration and social security | 454/9 | €27,570 | €42,920 | +€15,350 | +55.7% |
| Other amounts payable | 47/48 | €20,356 | €43,809 | +€23,453 | +115.2% |
| Accrued charges and deferred income | 492/3 | €1,583 | €2,696 | +€1,113 | +70.3% |
| Remuneration, social security and pensions | 62 | €282,223 | €270,456 | -€11,767 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,575 | €94,488 | -€1,087 | -1.1% |
| Other operating charges | 640/8 | €8,062 | €12,089 | +€4,027 | +50.0% |
| Gross operating margin | 9900 | €459,656 | €421,356 | -€38,300 | -8.3% |
| Operating profit (loss) | 9901 | €73,796 | €44,323 | -€29,473 | -39.9% |
| Financial income | 75/76B | €2,028 | €2,120 | +€92 | +4.5% |
| Recurring financial income | 75 | €803 | €760 | -€43 | -5.4% |
| Non-recurring financial income | 76B | €1,225 | €1,360 | +€135 | +11.0% |
| Financial charges | 65/66B | €10,045 | €9,089 | -€956 | -9.5% |
| Recurring financial charges | 65 | €10,045 | €9,089 | -€956 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €65,779 | €37,354 | -€28,425 | -43.2% |
| Income taxes | 67/77 | €16,203 | €9,462 | -€6,741 | -41.6% |
| Profit (loss) for the period | 9904 | €49,576 | €27,892 | -€21,684 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,576 | €27,892 | -€21,684 | -43.7% |
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 3 October 2026 via checked.be.