GROWIRE: 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.
GROWIRE
Largest movements
- Receivables after one year -€112,896
down €112,896 (-34.9%), from €323,946 to €211,050
- Receivables within one year +€29,434
up €29,434 (+8.5%), from €344,465 to €373,899
of which Trade receivables: +€49,771
- Intangible fixed assets -€21,821
down €21,821 (-75.2%), from €29,021 to €7,200
- Deferred charges and accrued income +€12,472
up €12,472 (+145%), from €8,613 to €21,085
- Debts after one year -€112,896
down €112,896 (-32.0%), from €353,136 to €240,240
- Reserves +€102,442
up €102,442 (+313%), from €32,712 to €135,154
of which Distributable reserves: +€102,442
- Trade debts -€93,798
down €93,798 (-65.8%), from €142,532 to €48,734
- Tax, wage and social debts +€37,023
up €37,023 (+164%), from €22,558 to €59,581
- Short-term financial debts -€25,000
down €25,000 (-41.7%), from €60,000 to €35,000
- Gross operating margin +€82,098
up €82,098 (+108%), from €76,164 to €158,262
- Taxes +€28,842
up €28,842 (+307%), from €9,383 to €38,225
- Depreciation -€14,903
down €14,903 (-40.6%), from €36,724 to €21,821
- Write-downs -€9,207
no longer reported in 2025 (was €9,207)
- Financial charges +€3,070
up €3,070 (+21.6%), from €14,224 to €17,294
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €706,330 | €613,519 | -€92,811 | -13.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €29,306 | €7,485 | -€21,821 | -74.5% |
| Intangible fixed assets | 21 | €29,021 | €7,200 | -€21,821 | -75.2% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €677,025 | €606,034 | -€70,990 | -10.5% |
| Amounts receivable after more than one year | 29 | €323,946 | €211,050 | -€112,896 | -34.9% |
| Other amounts receivable | 291 | €323,946 | €211,050 | -€112,896 | -34.9% |
| Amounts receivable within one year | 40/41 | €344,465 | €373,899 | +€29,434 | +8.5% |
| Trade receivables | 40 | €220,723 | €270,493 | +€49,771 | +22.5% |
| Other amounts receivable | 41 | €123,743 | €103,406 | -€20,337 | -16.4% |
| Deferred charges and accrued income | 490/1 | €8,613 | €21,085 | +€12,472 | +145% |
| Total equity and liabilities | 10/49 | €706,330 | €613,519 | -€92,811 | -13.1% |
| Equity | 10/15 | €122,459 | €224,319 | +€101,860 | +83.2% |
| Contributions | 10/11 | €88,872 | €88,872 | = | 0.0% |
| Capital | 10 | €88,872 | €88,872 | = | 0.0% |
| Issued capital | 100 | €88,872 | €88,872 | = | 0.0% |
| Reserves | 13 | €32,712 | €135,154 | +€102,442 | +313% |
| Non-distributable reserves | 130/1 | €8,887 | €8,887 | = | 0.0% |
| Legal reserve | 130 | €8,887 | €8,887 | = | 0.0% |
| Distributable reserves | 133 | €23,825 | €126,266 | +€102,442 | +430% |
| Profit (loss) carried forward | 14 | €875 | €294 | -€581 | -66.4% |
| Amounts payable | 17/49 | €583,871 | €389,200 | -€194,671 | -33.3% |
| Amounts payable after more than one year | 17 | €353,136 | €240,240 | -€112,896 | -32.0% |
| Other amounts payable | 178/9 | €353,136 | €240,240 | -€112,896 | -32.0% |
| Amounts payable within one year | 42/48 | €230,735 | €148,960 | -€81,775 | -35.4% |
| Financial debts | 43 | €60,000 | €35,000 | -€25,000 | -41.7% |
| Credit institutions | 430/8 | €60,000 | €35,000 | -€25,000 | -41.7% |
| Trade debts | 44 | €142,532 | €48,734 | -€93,798 | -65.8% |
| Suppliers | 440/4 | €142,532 | €48,734 | -€93,798 | -65.8% |
| Taxes, remuneration and social security | 45 | €22,558 | €59,581 | +€37,023 | +164% |
| Taxes | 450/3 | €22,558 | €59,581 | +€37,023 | +164% |
| Other amounts payable | 47/48 | €5,645 | €5,645 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,724 | €21,821 | -€14,903 | -40.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,207 | - | -€9,207 | |
| Other operating charges | 640/8 | €1,798 | €147 | -€1,651 | -91.8% |
| Gross operating margin | 9900 | €76,164 | €158,262 | +€82,098 | +108% |
| Operating profit (loss) | 9901 | €28,435 | €136,294 | +€107,859 | +379% |
| Financial income | 75/76B | €18,663 | €21,085 | +€2,422 | +13.0% |
| Recurring financial income | 75 | €18,663 | €21,085 | +€2,422 | +13.0% |
| Financial charges | 65/66B | €14,224 | €17,294 | +€3,070 | +21.6% |
| Recurring financial charges | 65 | €14,224 | €17,294 | +€3,070 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €32,874 | €140,086 | +€107,211 | +326% |
| Income taxes | 67/77 | €9,383 | €38,225 | +€28,842 | +307% |
| Profit (loss) for the period | 9904 | €23,491 | €101,860 | +€78,369 | +334% |
| Profit (loss) for the period to be appropriated | 9905 | €23,491 | €101,860 | +€78,369 | +334% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.