Growfunding: what changed
Growfunding
Largest movements
- Tangible fixed assets +€314,303
up €314,303 (+366%), from €85,969 to €400,272
of which Land and buildings: +€394,145
- Receivables within one year +€48,584
up €48,584 (+43.1%), from €112,669 to €161,253
of which Trade receivables: +€92,927
- Deferred charges and accrued income -€15,334
no longer reported in 2025 (was €15,334)
- Cash -€14,378
down €14,378 (-10.9%), from €132,403 to €118,025
mainly Investment in fixed assets (net) (-€341,571) and Receivables within one year (-€48,584)
- Investment grants +€200,615
up €200,615 (+114%), from €176,151 to €376,766
- Debts within one year +€143,150
up €143,150 (+181%), from €79,200 to €222,350
- Reserves -€45,000
down €45,000 (-47.4%), from €95,000 to €50,000
- Accrued charges and deferred income +€33,736
up €33,736 (+1,303%), from €2,589 to €36,325
- Purchases and services +€153,748
up €153,748 (+126%), from €121,576 to €275,324
- Turnover +€145,699
up €145,699 (+102%), from €142,460 to €288,159
- Other operating charges +€50,633
up €50,633 (+130%), from €38,968 to €89,601
- Staff costs -€47,512
down €47,512 (-9.1%), from €520,220 to €472,708
- Financial income +€22,165
up €22,165 (+2,173,059%), from €1 to €22,166
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €352,382 | €683,911 | +€331,529 | +94.1% |
| Fixed assets | 21/28 | €91,975 | €402,806 | +€310,831 | +338% |
| Intangible fixed assets | 21 | €6,006 | €2,533 | -€3,473 | -57.8% |
| Tangible fixed assets | 22/27 | €85,969 | €400,272 | +€314,303 | +366% |
| Land and buildings | 22 | - | €394,145 | +€394,145 | |
| Plant, machinery and equipment | 23 | €4,508 | €6,128 | +€1,620 | +35.9% |
| Assets under construction and advance payments | 27 | €81,462 | - | -€81,462 | |
| Current assets | 29/58 | €260,406 | €281,105 | +€20,699 | +7.9% |
| Stocks and contracts in progress | 3 | - | €1,827 | +€1,827 | |
| Stocks | 30/36 | - | €1,827 | +€1,827 | |
| Amounts receivable within one year | 40/41 | €112,669 | €161,253 | +€48,584 | +43.1% |
| Trade receivables | 40 | €9,891 | €102,819 | +€92,927 | +939% |
| Other amounts receivable | 41 | €102,778 | €58,434 | -€44,343 | -43.1% |
| Cash at bank and in hand | 54/58 | €132,403 | €118,025 | -€14,378 | -10.9% |
| Deferred charges and accrued income | 490/1 | €15,334 | - | -€15,334 | |
| Total equity and liabilities | 10/49 | €352,382 | €683,911 | +€331,529 | +94.1% |
| Equity | 10/15 | €270,593 | €425,236 | +€154,644 | +57.1% |
| Reserves | 13 | €95,000 | €50,000 | -€45,000 | -47.4% |
| Profit (loss) carried forward | 14 | -€558 | -€1,530 | -€971 | -174% |
| Investment grants | 15 | €176,151 | €376,766 | +€200,615 | +114% |
| Amounts payable | 17/49 | €81,789 | €258,675 | +€176,886 | +216% |
| Amounts payable within one year | 42/48 | €79,200 | €222,350 | +€143,150 | +181% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Other loans | 439 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €11,864 | €71,642 | +€59,778 | +504% |
| Suppliers | 440/4 | €11,864 | €71,642 | +€59,778 | +504% |
| Taxes, remuneration and social security | 45 | €58,235 | €90,038 | +€31,803 | +54.6% |
| Taxes | 450/3 | €7,996 | €41,740 | +€33,743 | +422% |
| Remuneration and social security | 454/9 | €50,239 | €48,299 | -€1,940 | -3.9% |
| Accrued charges and deferred income | 492/3 | €2,589 | €36,325 | +€33,736 | +1,303% |
| Turnover | 70 | €142,460 | €288,159 | +€145,699 | +102% |
| Membership fees, donations, legacies and grants | 73 | €506,653 | €529,697 | +€23,044 | +4.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €121,576 | €275,324 | +€153,748 | +126% |
| Remuneration, social security and pensions | 62 | €520,220 | €472,708 | -€47,512 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,596 | €30,741 | +€22,144 | +258% |
| Other operating charges | 640/8 | €38,968 | €89,601 | +€50,633 | +130% |
| Non-recurring operating charges | 66A | - | €10,988 | +€10,988 | |
| Gross operating margin | 9900 | €533,346 | €542,611 | +€9,264 | +1.7% |
| Operating profit (loss) | 9901 | -€34,438 | -€61,427 | -€26,989 | -78.4% |
| Financial income | 75/76B | €1 | €22,166 | +€22,165 | +2,173,059% |
| Recurring financial income | 75 | €1 | €22,166 | +€22,165 | +2,173,059% |
| Financial charges | 65/66B | €7,182 | €6,710 | -€472 | -6.6% |
| Recurring financial charges | 65 | €7,182 | €6,710 | -€472 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€41,619 | -€45,971 | -€4,352 | -10.5% |
| Profit (loss) for the period | 9904 | -€41,619 | -€45,971 | -€4,352 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,619 | -€45,971 | -€4,352 | -10.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.