GROUP-R: 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.
GROUP-R
Largest movements
- Tangible fixed assets -€37,636
down €37,636 (-69.0%), from €54,540 to €16,905
of which Furniture and vehicles: -€35,124
- Receivables within one year +€12,761
up €12,761 (+35.9%), from €35,522 to €48,284
of which Other amounts receivable: +€11,922
- Cash +€5,823
up €5,823 (+64.7%), from €9,000 to €14,824
mainly Investment in fixed assets (net) (+€32,556) and Net result for the year (+€27,309)
- Debts after one year -€38,170
down €38,170 (-73.1%), from €52,201 to €14,030
- Profit (loss) carried forward +€27,309
up €27,309 (+73.2%), from €37,300 to €64,609
- Current portion of long-term debt -€8,582
down €8,582 (-37.7%), from €22,769 to €14,186
- Tax, wage and social debts -€4,631
down €4,631 (-28.2%), from €16,435 to €11,804
- Trade debts +€4,495
up €4,495 (+79.0%), from €5,691 to €10,185
- Depreciation -€9,283
down €9,283 (-64.6%), from €14,363 to €5,080
- Taxes +€4,697
up €4,697 (+68.2%), from €6,892 to €11,589
- Financial charges -€2,577
down €2,577 (-44.7%), from €5,760 to €3,183
- Other operating charges -€1,206
down €1,206 (-46.8%), from €2,577 to €1,372
- Gross operating margin +€534
up €534 (+1.2%), from €46,229 to €46,763
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 | €138,141 | €117,951 | -€20,189 | -14.6% |
| Fixed assets | 21/28 | €57,040 | €19,405 | -€37,636 | -66.0% |
| Tangible fixed assets | 22/27 | €54,540 | €16,905 | -€37,636 | -69.0% |
| Plant, machinery and equipment | 23 | €1,285 | €786 | -€500 | -38.9% |
| Furniture and vehicles | 24 | €38,387 | €3,262 | -€35,124 | -91.5% |
| Other tangible fixed assets | 26 | €14,868 | €12,857 | -€2,012 | -13.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €81,100 | €98,547 | +€17,447 | +21.5% |
| Stocks and contracts in progress | 3 | €33,701 | €33,701 | = | 0.0% |
| Stocks | 30/36 | €33,701 | €33,701 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,522 | €48,284 | +€12,761 | +35.9% |
| Trade receivables | 40 | €1,997 | €2,835 | +€839 | +42.0% |
| Other amounts receivable | 41 | €33,526 | €45,448 | +€11,922 | +35.6% |
| Cash at bank and in hand | 54/58 | €9,000 | €14,824 | +€5,823 | +64.7% |
| Deferred charges and accrued income | 490/1 | €2,876 | €1,738 | -€1,138 | -39.6% |
| Total equity and liabilities | 10/49 | €138,141 | €117,951 | -€20,189 | -14.6% |
| Equity | 10/15 | €40,300 | €67,609 | +€27,309 | +67.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,300 | €64,609 | +€27,309 | +73.2% |
| Amounts payable | 17/49 | €97,841 | €50,343 | -€47,498 | -48.5% |
| Amounts payable after more than one year | 17 | €52,201 | €14,030 | -€38,170 | -73.1% |
| Financial debts | 170/4 | €52,201 | €14,030 | -€38,170 | -73.1% |
| Amounts payable within one year | 42/48 | €45,640 | €36,312 | -€9,328 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €22,769 | €14,186 | -€8,582 | -37.7% |
| Trade debts | 44 | €5,691 | €10,185 | +€4,495 | +79.0% |
| Suppliers | 440/4 | €5,691 | €10,185 | +€4,495 | +79.0% |
| Taxes, remuneration and social security | 45 | €16,435 | €11,804 | -€4,631 | -28.2% |
| Taxes | 450/3 | €16,435 | €11,804 | -€4,631 | -28.2% |
| Other amounts payable | 47/48 | €746 | €137 | -€609 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,363 | €5,080 | -€9,283 | -64.6% |
| Other operating charges | 640/8 | €2,577 | €1,372 | -€1,206 | -46.8% |
| Non-recurring operating charges | 66A | - | €556 | +€556 | |
| Gross operating margin | 9900 | €46,229 | €46,763 | +€534 | +1.2% |
| Operating profit (loss) | 9901 | €29,288 | €39,756 | +€10,468 | +35.7% |
| Financial income | 75/76B | €2,393 | €2,325 | -€68 | -2.8% |
| Recurring financial income | 75 | €2,393 | €2,325 | -€68 | -2.8% |
| Financial charges | 65/66B | €5,760 | €3,183 | -€2,577 | -44.7% |
| Recurring financial charges | 65 | €5,760 | €3,183 | -€2,577 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €25,921 | €38,898 | +€12,976 | +50.1% |
| Income taxes | 67/77 | €6,892 | €11,589 | +€4,697 | +68.2% |
| Profit (loss) for the period | 9904 | €19,030 | €27,309 | +€8,279 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,030 | €27,309 | +€8,279 | +43.5% |
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 18 October 2026 via checked.be.