GROVAN: 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.
GROVAN
Largest movements
- Receivables within one year +€120,805
up €120,805 (+30.1%), from €401,004 to €521,808
of which Other amounts receivable: +€123,320
- Cash -€96,902
down €96,902 (-77.5%), from €125,108 to €28,207
mainly Receivables within one year (-€120,805) and Trade debts (-€3,952)
- Tangible fixed assets -€6,605
down €6,605 (-19.4%), from €34,079 to €27,473
of which Furniture and vehicles: -€6,325
- Profit (loss) carried forward +€21,280
up €21,280 (+4.9%), from -€432,908 to -€411,628
- Gross operating margin -€5,068
down €5,068 (-13.2%), from €38,531 to €33,463
- Depreciation -€527
down €527 (-7.4%), from €7,132 to €6,605
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 | €561,847 | €579,184 | +€17,337 | +3.1% |
| Fixed assets | 21/28 | €34,079 | €27,473 | -€6,605 | -19.4% |
| Tangible fixed assets | 22/27 | €34,079 | €27,473 | -€6,605 | -19.4% |
| Plant, machinery and equipment | 23 | €500 | €220 | -€280 | -56.0% |
| Furniture and vehicles | 24 | €33,579 | €27,253 | -€6,325 | -18.8% |
| Current assets | 29/58 | €527,768 | €551,711 | +€23,942 | +4.5% |
| Amounts receivable within one year | 40/41 | €401,004 | €521,808 | +€120,805 | +30.1% |
| Trade receivables | 40 | €40,417 | €37,902 | -€2,515 | -6.2% |
| Other amounts receivable | 41 | €360,587 | €483,907 | +€123,320 | +34.2% |
| Cash at bank and in hand | 54/58 | €125,108 | €28,207 | -€96,902 | -77.5% |
| Deferred charges and accrued income | 490/1 | €1,656 | €1,696 | +€39 | +2.4% |
| Total equity and liabilities | 10/49 | €561,847 | €579,184 | +€17,337 | +3.1% |
| Equity | 10/15 | €172,092 | €193,372 | +€21,280 | +12.4% |
| Contributions | 10/11 | €605,000 | €605,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€432,908 | -€411,628 | +€21,280 | +4.9% |
| Amounts payable | 17/49 | €389,755 | €385,812 | -€3,943 | -1.0% |
| Amounts payable after more than one year | 17 | €3,510 | €3,510 | = | 0.0% |
| Other amounts payable | 178/9 | €3,510 | €3,510 | = | 0.0% |
| Amounts payable within one year | 42/48 | €386,245 | €382,302 | -€3,943 | -1.0% |
| Trade debts | 44 | €41,723 | €37,772 | -€3,952 | -9.5% |
| Suppliers | 440/4 | €41,723 | €37,772 | -€3,952 | -9.5% |
| Taxes, remuneration and social security | 45 | €169 | €178 | +€9 | +5.3% |
| Taxes | 450/3 | €169 | €178 | +€9 | +5.3% |
| Other amounts payable | 47/48 | €344,352 | €344,352 | = | 0.0% |
| Non-recurring operating income | 76A | €5,717 | - | -€5,717 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,132 | €6,605 | -€527 | -7.4% |
| Other operating charges | 640/8 | €5,108 | €5,119 | +€11 | +0.2% |
| Gross operating margin | 9900 | €38,531 | €33,463 | -€5,068 | -13.2% |
| Operating profit (loss) | 9901 | €26,291 | €21,739 | -€4,553 | -17.3% |
| Financial income | 75/76B | €101 | €244 | +€143 | +141.2% |
| Recurring financial income | 75 | €101 | €244 | +€143 | +141.2% |
| Financial charges | 65/66B | €485 | €525 | +€40 | +8.3% |
| Recurring financial charges | 65 | €485 | €525 | +€40 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €25,908 | €21,458 | -€4,450 | -17.2% |
| Income taxes | 67/77 | €169 | €178 | +€9 | +5.3% |
| Profit (loss) for the period | 9904 | €25,738 | €21,280 | -€4,459 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,738 | €21,280 | -€4,459 | -17.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.