GROUPD: 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.
GROUPD
Largest movements
- Tangible fixed assets -€37,365
down €37,365 (-10.0%), from €372,265 to €334,900
of which Land and buildings: -€37,207
- Cash -€8,049
down €8,049 (-24.9%), from €32,280 to €24,232
mainly Debts after one year (-€38,500) and Net result for the year (-€5,092)
- Debts after one year -€38,500
down €38,500 (-14.6%), from €263,850 to €225,350
of which Financial debts: -€38,500
- Reserves -€5,488
down €5,488 (-3.5%), from €154,831 to €149,344
of which Distributable reserves: -€5,488
- Gross operating margin -€4,361
down €4,361 (-9.8%), from €44,518 to €40,157
- Financial income -€3,693
down €3,693 (-99.8%), from €3,702 to €9
- Depreciation -€959
down €959 (-2.5%), from €38,324 to €37,365
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 | €404,545 | €361,354 | -€43,191 | -10.7% |
| Fixed assets | 21/28 | €372,265 | €334,900 | -€37,365 | -10.0% |
| Tangible fixed assets | 22/27 | €372,265 | €334,900 | -€37,365 | -10.0% |
| Land and buildings | 22 | €370,817 | €333,610 | -€37,207 | -10.0% |
| Furniture and vehicles | 24 | €1,448 | €1,290 | -€158 | -10.9% |
| Current assets | 29/58 | €32,280 | €26,454 | -€5,826 | -18.0% |
| Cash at bank and in hand | 54/58 | €32,280 | €24,232 | -€8,049 | -24.9% |
| Deferred charges and accrued income | 490/1 | - | €2,222 | +€2,222 | |
| Total equity and liabilities | 10/49 | €404,545 | €361,354 | -€43,191 | -10.7% |
| Equity | 10/15 | €112,273 | €107,181 | -€5,092 | -4.5% |
| Contributions | 10/11 | €192,105 | €192,105 | = | 0.0% |
| Outside capital | 11 | €192,105 | €192,105 | = | 0.0% |
| Other | 1109/19 | €192,105 | €192,105 | = | 0.0% |
| Reserves | 13 | €154,831 | €149,344 | -€5,488 | -3.5% |
| Tax-exempt reserves | 132 | €115,605 | €115,605 | = | 0.0% |
| Distributable reserves | 133 | €39,227 | €33,739 | -€5,488 | -14.0% |
| Profit (loss) carried forward | 14 | -€234,663 | -€234,268 | +€395 | +0.2% |
| Provisions and deferred taxes | 16 | €27,313 | €25,484 | -€1,829 | -6.7% |
| Deferred taxes | 168 | €27,313 | €25,484 | -€1,829 | -6.7% |
| Amounts payable | 17/49 | €264,959 | €228,689 | -€36,270 | -13.7% |
| Amounts payable after more than one year | 17 | €263,850 | €225,350 | -€38,500 | -14.6% |
| Financial debts | 170/4 | €261,000 | €222,500 | -€38,500 | -14.8% |
| Other amounts payable | 178/9 | €2,850 | €2,850 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,109 | €3,339 | +€2,230 | +201.1% |
| Trade debts | 44 | €134 | - | -€134 | |
| Suppliers | 440/4 | €134 | - | -€134 | |
| Other amounts payable | 47/48 | €975 | €3,339 | +€2,364 | +242.6% |
| Remuneration, social security and pensions | 62 | €2,152 | €2,152 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,324 | €37,365 | -€959 | -2.5% |
| Other operating charges | 640/8 | €7,478 | €7,516 | +€38 | +0.5% |
| Gross operating margin | 9900 | €44,518 | €40,157 | -€4,361 | -9.8% |
| Operating profit (loss) | 9901 | -€3,435 | -€6,876 | -€3,440 | -100.1% |
| Financial income | 75/76B | €3,702 | €9 | -€3,693 | -99.8% |
| Recurring financial income | 75 | €3,702 | €9 | -€3,693 | -99.8% |
| Financial charges | 65/66B | €178 | €55 | -€124 | -69.3% |
| Recurring financial charges | 65 | €178 | €55 | -€124 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €88 | -€6,922 | -€7,010 | |
| Transfer from deferred taxes | 780 | €1,829 | €1,829 | = | 0.0% |
| Profit (loss) for the period | 9904 | €1,918 | -€5,092 | -€7,010 | |
| Transfer from tax-exempt reserves | 789 | €5,488 | €5,488 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,405 | €395 | -€7,010 | -94.7% |
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 7 October 2026 via checked.be.