GROWIN: 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.
GROWIN
Largest movements
- Tangible fixed assets -€4,613
down €4,613 (-29.6%), from €15,579 to €10,966
- Receivables within one year -€877
down €877 (-16.6%), from €5,292 to €4,415
of which Other amounts receivable: -€645
- Cash -€769
down €769 (-26.3%), from €2,926 to €2,157
mainly Trade debts (-€8,977) and Net result for the year (-€7,103)
- Other debts +€14,092
up €14,092 (+37.8%), from €37,257 to €51,350
- Trade debts -€8,977
down €8,977 (-63.9%), from €14,044 to €5,067
- Reserves -€7,103
down €7,103 (-15.4%), from €46,042 to €38,939
- Debts after one year -€3,842
down €3,842 (-53.7%), from €7,152 to €3,310
- Gross operating margin +€18,352
up €18,352, from -€17,316 to €1,037
- Depreciation +€715
up €715 (+18.3%), from €3,899 to €4,613
- Financial charges -€460
down €460 (-15.3%), from €3,000 to €2,540
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 | €24,623 | €18,573 | -€6,050 | -24.6% |
| Fixed assets | 21/28 | €15,829 | €11,216 | -€4,613 | -29.1% |
| Tangible fixed assets | 22/27 | €15,579 | €10,966 | -€4,613 | -29.6% |
| Furniture and vehicles | 24 | €15,579 | €10,966 | -€4,613 | -29.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €8,794 | €7,357 | -€1,436 | -16.3% |
| Amounts receivable within one year | 40/41 | €5,292 | €4,415 | -€877 | -16.6% |
| Trade receivables | 40 | €3,775 | €3,542 | -€233 | -6.2% |
| Other amounts receivable | 41 | €1,517 | €872 | -€645 | -42.5% |
| Cash at bank and in hand | 54/58 | €2,926 | €2,157 | -€769 | -26.3% |
| Deferred charges and accrued income | 490/1 | €576 | €785 | +€210 | +36.5% |
| Total equity and liabilities | 10/49 | €24,623 | €18,573 | -€6,050 | -24.6% |
| Equity | 10/15 | -€47,898 | -€55,000 | -€7,103 | -14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,042 | €38,939 | -€7,103 | -15.4% |
| Distributable reserves | 133 | €46,042 | €38,939 | -€7,103 | -15.4% |
| Profit (loss) carried forward | 14 | -€100,140 | -€100,140 | = | 0.0% |
| Amounts payable | 17/49 | €72,520 | €73,573 | +€1,053 | +1.5% |
| Amounts payable after more than one year | 17 | €7,152 | €3,310 | -€3,842 | -53.7% |
| Financial debts | 170/4 | €7,152 | €3,310 | -€3,842 | -53.7% |
| Amounts payable within one year | 42/48 | €64,980 | €69,901 | +€4,921 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €3,949 | €3,842 | -€107 | -2.7% |
| Financial debts | 43 | €9,573 | €9,373 | -€200 | -2.1% |
| Credit institutions | 430/8 | €9,573 | €9,373 | -€200 | -2.1% |
| Trade debts | 44 | €14,044 | €5,067 | -€8,977 | -63.9% |
| Suppliers | 440/4 | €14,044 | €5,067 | -€8,977 | -63.9% |
| Taxes, remuneration and social security | 45 | €157 | €269 | +€112 | +71.6% |
| Taxes | 450/3 | €157 | €269 | +€112 | +71.6% |
| Other amounts payable | 47/48 | €37,257 | €51,350 | +€14,092 | +37.8% |
| Accrued charges and deferred income | 492/3 | €389 | €363 | -€26 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,899 | €4,613 | +€715 | +18.3% |
| Other operating charges | 640/8 | €909 | €967 | +€58 | +6.4% |
| Non-recurring operating charges | 66A | - | -€46 | -€46 | |
| Gross operating margin | 9900 | -€17,316 | €1,037 | +€18,352 | |
| Operating profit (loss) | 9901 | -€22,124 | -€4,498 | +€17,625 | +79.7% |
| Financial income | 75/76B | €0 | €10 | +€10 | |
| Recurring financial income | 75 | €0 | €10 | +€10 | |
| Financial charges | 65/66B | €3,000 | €2,540 | -€460 | -15.3% |
| Recurring financial charges | 65 | €3,000 | €2,540 | -€460 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,124 | -€7,028 | +€18,095 | +72.0% |
| Income taxes | 67/77 | €157 | €74 | -€83 | -52.6% |
| Profit (loss) for the period | 9904 | -€25,281 | -€7,103 | +€18,178 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,281 | -€7,103 | +€18,178 | +71.9% |
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 13 October 2026 via checked.be.