GROVEN +: 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.
What changed
GROVEN +
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.5m
2024 · €3.0m-€4.5m
Equity
€3.9m
2024 · €5.4m-€1.5m
Cash
€445,985
2024 · €1.0m-€556,681
Balance sheet total
€12.4m
2024 · €13.7m-€1.3m
Largest movements
Assets
- Receivables within one year -€1.5m
down €1.5m (-16.2%), from €9.1m to €7.6m
of which Trade receivables: -€798,974
- Tangible fixed assets +€579,253
up €579,253 (+21.5%), from €2.7m to €3.3m
of which Assets under construction and advance payments: +€620,684
- Cash -€556,681
down €556,681 (-55.5%), from €1.0m to €445,985
mainly Net result for the year (-€1.5m) and Investment in fixed assets (net) (-€1.4m)
Equity and liabilities
- Profit (loss) carried forward -€1.5m
down €1.5m (-49.4%), from €3.0m to €1.5m
- Trade debts +€685,970
up €685,970 (+16.6%), from €4.1m to €4.8m
- Tax, wage and social debts -€313,278
down €313,278 (-17.4%), from €1.8m to €1.5m
of which Remuneration and social security: -€172,400
- Advances received -€177,684
down €177,684 (-19.0%), from €934,744 to €757,060
Income statement
- Turnover -€11.9m
down €11.9m (-29.7%), from €40.1m to €28.2m
- Goods and materials -€6.8m
down €6.8m (-32.3%), from €21.0m to €14.2m
of which Purchases: -€6.4m
- Financial charges -€415,388
down €415,388 (-73.6%), from €564,570 to €149,182
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.
Result 2024
€3.0m
Turnover
-€11.9m
Other operating income
+€335,396
Goods and materials
+€6.8m
Services and other goods
+€242,239
Staff costs
+€362,246
Depreciation
-€245,753
Write-downs
+€350,676
Provisions
+€20,817
Other operating charges
-€65,555
Other operating items
-€701,155
Financial income
-€65,749
Financial charges
+€415,388
Taxes
-€11,068
Result 2025
-€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€821,573
Investment
-€1.4m
Financing
+€71,660
Cash 2024
€1.0m
From operations (derived)
+€821,573
Net result for the year
-€1.5m
Depreciation
+€870,661
Stocks and contracts
-€17,307
Receivables within one year
+€1.5m
Deferred charges and accrued income
-€87,407
Provisions
-€93,817
Trade debts
+€685,970
Tax, wage and social debts
-€313,278
Advances received
-€177,684
Accrued charges and deferred income
-€12,595
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€71,660
Debts after one year
-€45,586
Current portion of long-term debt
+€42,744
Short-term financial debts
+€74,502
Cash 2025
€445,985
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,738,767 | €12,392,928 | -€1.3m | -9.8% |
| Fixed assets | 21/28 | €3,040,863 | €3,620,116 | +€579,253 | +19.0% |
| Tangible fixed assets | 22/27 | €2,692,003 | €3,271,256 | +€579,253 | +21.5% |
| Land and buildings | 22 | - | €13,593 | +€13,593 | |
| Plant, machinery and equipment | 23 | €356,258 | €333,790 | -€22,468 | -6.3% |
| Furniture and vehicles | 24 | €244,915 | €207,318 | -€37,597 | -15.4% |
| Leasing and similar rights | 25 | €1,785,925 | €1,891,043 | +€105,118 | +5.9% |
| Other tangible fixed assets | 26 | €304,905 | €204,828 | -€100,077 | -32.8% |
| Assets under construction and advance payments | 27 | - | €620,684 | +€620,684 | |
| Financial fixed assets | 28 | €348,860 | €348,860 | = | 0.0% |
| Other financial fixed assets | 284/8 | €348,860 | €348,860 | = | 0.0% |
| Shares | 284 | €23,700 | €23,700 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €325,160 | €325,160 | = | 0.0% |
| Current assets | 29/58 | €10,697,904 | €8,772,812 | -€1.9m | -18.0% |
| Stocks and contracts in progress | 3 | €506,643 | €523,950 | +€17,307 | +3.4% |
| Stocks | 30/36 | €506,643 | €523,950 | +€17,307 | +3.4% |
| Raw materials and consumables | 30/31 | €506,643 | €523,950 | +€17,307 | +3.4% |
| Amounts receivable within one year | 40/41 | €9,095,734 | €7,622,609 | -€1.5m | -16.2% |
| Trade receivables | 40 | €8,204,773 | €7,405,799 | -€798,974 | -9.7% |
| Other amounts receivable | 41 | €890,961 | €216,810 | -€674,151 | -75.7% |
| Cash at bank and in hand | 54/58 | €1,002,666 | €445,985 | -€556,681 | -55.5% |
| Deferred charges and accrued income | 490/1 | €92,861 | €180,268 | +€87,407 | +94.1% |
| Total equity and liabilities | 10/49 | €13,738,767 | €12,392,928 | -€1.3m | -9.8% |
| Equity | 10/15 | €5,434,426 | €3,928,331 | -€1.5m | -27.7% |
| Contributions | 10/11 | €515,917 | €515,917 | = | 0.0% |
| Capital | 10 | €515,917 | €515,917 | = | 0.0% |
| Issued capital | 100 | €515,917 | €515,917 | = | 0.0% |
| Reserves | 13 | €1,868,946 | €1,868,947 | +€1 | 0.0% |
| Non-distributable reserves | 130/1 | €51,591 | €51,592 | +€1 | 0.0% |
| Legal reserve | 130 | €51,591 | €51,592 | +€1 | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,798,605 | €1,798,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,049,563 | €1,543,467 | -€1.5m | -49.4% |
| Provisions and deferred taxes | 16 | €379,362 | €285,545 | -€93,817 | -24.7% |
| Provisions for liabilities and charges | 160/5 | €379,362 | €285,545 | -€93,817 | -24.7% |
| Other liabilities and charges | 164/5 | €379,362 | €285,545 | -€93,817 | -24.7% |
| Amounts payable | 17/49 | €7,924,979 | €8,179,052 | +€254,073 | +3.2% |
| Amounts payable after more than one year | 17 | €521,341 | €475,755 | -€45,586 | -8.7% |
| Financial debts | 170/4 | €521,341 | €475,755 | -€45,586 | -8.7% |
| Leasing and similar obligations | 172 | €521,341 | €475,755 | -€45,586 | -8.7% |
| Amounts payable within one year | 42/48 | €7,391,043 | €7,703,297 | +€312,254 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €447,630 | €490,374 | +€42,744 | +9.5% |
| Financial debts | 43 | €68,869 | €143,371 | +€74,502 | +108% |
| Credit institutions | 430/8 | €68,869 | €143,371 | +€74,502 | +108% |
| Trade debts | 44 | €4,140,898 | €4,826,868 | +€685,970 | +16.6% |
| Suppliers | 440/4 | €4,140,898 | €4,826,868 | +€685,970 | +16.6% |
| Advances received on contracts in progress | 46 | €934,744 | €757,060 | -€177,684 | -19.0% |
| Taxes, remuneration and social security | 45 | €1,798,902 | €1,485,624 | -€313,278 | -17.4% |
| Taxes | 450/3 | €556,775 | €415,897 | -€140,878 | -25.3% |
| Remuneration and social security | 454/9 | €1,242,127 | €1,069,727 | -€172,400 | -13.9% |
| Accrued charges and deferred income | 492/3 | €12,595 | - | -€12,595 | |
| Operating income | 70/76A | €41,410,467 | €29,150,818 | -€12.3m | -29.6% |
| Turnover | 70 | €40,085,773 | €28,186,430 | -€11.9m | -29.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€2,099,357 | - | +€2.1m | |
| Own construction capitalised | 72 | - | €214,808 | +€214,808 | |
| Other operating income | 74 | €414,184 | €749,580 | +€335,396 | +81.0% |
| Non-recurring operating income | 76A | €3,009,867 | - | -€3.0m | |
| Operating charges | 60/66A | €37,907,998 | €30,481,167 | -€7.4m | -19.6% |
| Goods for resale, raw materials and consumables | 60 | €20,969,552 | €14,201,938 | -€6.8m | -32.3% |
| Purchases | 600/8 | €20,663,298 | €14,219,243 | -€6.4m | -31.2% |
| Change in stocks: decrease (increase) | 609 | €306,254 | -€17,305 | -€323,559 | |
| Services and other goods | 61 | €5,501,570 | €5,259,331 | -€242,239 | -4.4% |
| Remuneration, social security and pensions | 62 | €10,398,333 | €10,036,087 | -€362,246 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €624,908 | €870,661 | +€245,753 | +39.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €359,789 | €9,113 | -€350,676 | -97.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€73,000 | -€93,817 | -€20,817 | -28.5% |
| Other operating charges | 640/8 | €122,234 | €187,789 | +€65,555 | +53.6% |
| Non-recurring operating charges | 66A | €4,612 | €10,065 | +€5,453 | +118% |
| Operating profit (loss) | 9901 | €3,502,469 | -€1,330,349 | -€4.8m | |
| Financial income | 75/76B | €66,836 | €1,087 | -€65,749 | -98.4% |
| Recurring financial income | 75 | €66,836 | €10,068 | -€56,768 | -84.9% |
| Income from current assets | 751 | €17,787 | - | -€17,787 | |
| Other financial income | 752/9 | €49,049 | €10,068 | -€38,981 | -79.5% |
| Non-recurring financial income | 76B | - | -€8,981 | -€8,981 | |
| Financial charges | 65/66B | €564,570 | €149,182 | -€415,388 | -73.6% |
| Recurring financial charges | 65 | €564,570 | €149,182 | -€415,388 | -73.6% |
| Debt charges | 650 | €449,181 | €76,968 | -€372,213 | -82.9% |
| Other financial charges | 652/9 | €115,389 | €72,214 | -€43,175 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €3,004,735 | -€1,478,444 | -€4.5m | |
| Income taxes | 67/77 | €16,583 | €27,651 | +€11,068 | +66.7% |
| Taxes | 670/3 | €16,583 | €27,651 | +€11,068 | +66.7% |
| Profit (loss) for the period | 9904 | €2,988,152 | -€1,506,095 | -€4.5m | |
| Transfer to tax-exempt reserves | 689 | €18,750 | - | -€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,969,402 | -€1,506,095 | -€4.5m |
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 16 October 2026 via checked.be.