GROW TO: 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.
GROW TO
Largest movements
- Receivables within one year +€21,551
up €21,551 (+60.8%), from €35,429 to €56,980
of which Other amounts receivable: +€17,917
- Cash -€2,867
down €2,867 (-14.8%), from €19,339 to €16,473
mainly Receivables within one year (-€21,551) and Tax, wage and social debts (-€10,999)
- Reserves +€26,445
up €26,445 (+61.6%), from €42,959 to €69,404
- Tax, wage and social debts -€10,999
down €10,999 (-83.7%), from €13,137 to €2,139
- Profit (loss) carried forward +€2,403
new in 2025: €2,403
- Gross operating margin +€3,740
up €3,740 (+10.7%), from €34,890 to €38,630
- Depreciation +€508
up €508 (+71.4%), from €712 to €1,220
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 | €58,761 | €76,845 | +€18,085 | +30.8% |
| Fixed assets | 21/28 | €3,993 | €3,393 | -€600 | -15.0% |
| Tangible fixed assets | 22/27 | €3,483 | €2,883 | -€600 | -17.2% |
| Plant, machinery and equipment | 23 | €2,076 | €1,652 | -€424 | -20.4% |
| Furniture and vehicles | 24 | €1,407 | €1,231 | -€176 | -12.5% |
| Financial fixed assets | 28 | €510 | €510 | = | 0.0% |
| Current assets | 29/58 | €54,768 | €73,453 | +€18,685 | +34.1% |
| Amounts receivable within one year | 40/41 | €35,429 | €56,980 | +€21,551 | +60.8% |
| Trade receivables | 40 | €4,639 | €8,273 | +€3,634 | +78.3% |
| Other amounts receivable | 41 | €30,789 | €48,707 | +€17,917 | +58.2% |
| Cash at bank and in hand | 54/58 | €19,339 | €16,473 | -€2,867 | -14.8% |
| Total equity and liabilities | 10/49 | €58,761 | €76,845 | +€18,085 | +30.8% |
| Equity | 10/15 | €45,459 | €74,307 | +€28,848 | +63.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €42,959 | €69,404 | +€26,445 | +61.6% |
| Distributable reserves | 133 | €42,959 | €69,404 | +€26,445 | +61.6% |
| Profit (loss) carried forward | 14 | - | €2,403 | +€2,403 | |
| Amounts payable | 17/49 | €13,301 | €2,538 | -€10,763 | -80.9% |
| Amounts payable within one year | 42/48 | €13,301 | €2,538 | -€10,763 | -80.9% |
| Trade debts | 44 | €164 | €400 | +€236 | +144% |
| Suppliers | 440/4 | €164 | €400 | +€236 | +144% |
| Taxes, remuneration and social security | 45 | €13,137 | €2,139 | -€10,999 | -83.7% |
| Taxes | 450/3 | €13,137 | €2,139 | -€10,999 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €712 | €1,220 | +€508 | +71.4% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €34,890 | €38,630 | +€3,740 | +10.7% |
| Operating profit (loss) | 9901 | €33,729 | €36,948 | +€3,219 | +9.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €153 | €100 | -€53 | -34.5% |
| Recurring financial charges | 65 | €153 | €100 | -€53 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €33,576 | €36,848 | +€3,272 | +9.7% |
| Income taxes | 67/77 | €8,296 | €8,000 | -€296 | -3.6% |
| Profit (loss) for the period | 9904 | €25,280 | €28,848 | +€3,568 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,280 | €28,848 | +€3,568 | +14.1% |
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.