GROWI: 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.
GROWI
Largest movements
- Receivables within one year -€30,520
down €30,520 (-51.7%), from €59,043 to €28,522
of which Trade receivables: -€30,520
- Cash +€28,430
up €28,430 (+287.6%), from €9,887 to €38,317
mainly Net result for the year (+€40,788) and Receivables within one year (+€30,520)
- Current investments +€20,000
new in 2025: €20,000
- Deferred charges and accrued income +€2,228
new in 2025: €2,228
- Tangible fixed assets -€1,995
down €1,995 (-12.3%), from €16,187 to €14,192
- Reserves +€39,955
up €39,955 (+110.3%), from €36,223 to €76,179
- Trade debts -€12,409
down €12,409 (-82.2%), from €15,101 to €2,693
- Tax, wage and social debts -€9,442
down €9,442 (-31.4%), from €30,044 to €20,602
of which Remuneration and social security: -€8,465
- Other debts -€2,619
down €2,619 (-69.9%), from €3,748 to €1,129
- Contributions +€2,500
new in 2025: €2,500
- Gross operating margin +€4,243
up €4,243 (+8.2%), from €51,938 to €56,180
- Taxes -€3,060
down €3,060 (-21.2%), from €14,409 to €11,348
- Financial charges +€1,482
up €1,482 (+957.7%), from €155 to €1,636
- Depreciation +€845
up €845 (+73.4%), from €1,151 to €1,995
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 | €85,117 | €103,259 | +€18,142 | +21.3% |
| Fixed assets | 21/28 | €16,187 | €14,192 | -€1,995 | -12.3% |
| Tangible fixed assets | 22/27 | €16,187 | €14,192 | -€1,995 | -12.3% |
| Plant, machinery and equipment | 23 | €16,187 | €14,192 | -€1,995 | -12.3% |
| Current assets | 29/58 | €68,930 | €89,067 | +€20,138 | +29.2% |
| Amounts receivable within one year | 40/41 | €59,043 | €28,522 | -€30,520 | -51.7% |
| Trade receivables | 40 | €58,949 | €28,429 | -€30,520 | -51.8% |
| Other amounts receivable | 41 | €94 | €94 | = | 0.0% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €9,887 | €38,317 | +€28,430 | +287.6% |
| Deferred charges and accrued income | 490/1 | - | €2,228 | +€2,228 | |
| Total equity and liabilities | 10/49 | €85,117 | €103,259 | +€18,142 | +21.3% |
| Equity | 10/15 | €36,223 | €78,679 | +€42,455 | +117.2% |
| Contributions | 10/11 | - | €2,500 | +€2,500 | |
| Reserves | 13 | €36,223 | €76,179 | +€39,955 | +110.3% |
| Distributable reserves | 133 | €36,223 | €76,179 | +€39,955 | +110.3% |
| Amounts payable | 17/49 | €48,893 | €24,580 | -€24,313 | -49.7% |
| Amounts payable within one year | 42/48 | €48,893 | €24,424 | -€24,469 | -50.0% |
| Trade debts | 44 | €15,101 | €2,693 | -€12,409 | -82.2% |
| Suppliers | 440/4 | €15,101 | €2,693 | -€12,409 | -82.2% |
| Taxes, remuneration and social security | 45 | €30,044 | €20,602 | -€9,442 | -31.4% |
| Taxes | 450/3 | €21,579 | €20,602 | -€977 | -4.5% |
| Remuneration and social security | 454/9 | €8,465 | - | -€8,465 | |
| Other amounts payable | 47/48 | €3,748 | €1,129 | -€2,619 | -69.9% |
| Accrued charges and deferred income | 492/3 | - | €156 | +€156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,151 | €1,995 | +€845 | +73.4% |
| Other operating charges | 640/8 | - | €422 | +€422 | |
| Gross operating margin | 9900 | €51,938 | €56,180 | +€4,243 | +8.2% |
| Operating profit (loss) | 9901 | €50,787 | €53,763 | +€2,976 | +5.9% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €155 | €1,636 | +€1,482 | +957.7% |
| Recurring financial charges | 65 | €155 | €1,636 | +€1,482 | +957.7% |
| Profit (loss) for the period before taxes | 9903 | €50,632 | €52,137 | +€1,505 | +3.0% |
| Income taxes | 67/77 | €14,409 | €11,348 | -€3,060 | -21.2% |
| Profit (loss) for the period | 9904 | €36,223 | €40,788 | +€4,565 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,223 | €40,788 | +€4,565 | +12.6% |
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 4 October 2026 via checked.be.