GROWL: 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.
GROWL
Largest movements
- Cash +€35,473
up €35,473 (+31.8%), from €111,464 to €146,937
mainly Net result for the year (+€82,264) and Tax, wage and social debts (+€30,911)
- Deferred charges and accrued income -€5,203
down €5,203 (-57.6%), from €9,040 to €3,837
- Tangible fixed assets -€2,613
down €2,613 (-16.0%), from €16,305 to €13,692
of which Furniture and vehicles: -€4,683
- Profit (loss) carried forward +€82,264
up €82,264 (+239%), from €34,447 to €116,712
- Other debts -€49,872
down €49,872 (-94.9%), from €52,577 to €2,705
- Tax, wage and social debts +€30,911
up €30,911 (+98.2%), from €31,484 to €62,394
of which Taxes: +€32,342
- Trade debts -€30,695
down €30,695 (-33.5%), from €91,591 to €60,896
- Debts after one year -€4,782
down €4,782 (-53.7%), from €8,901 to €4,119
- Gross operating margin +€35,002
up €35,002 (+28.8%), from €121,712 to €156,714
- Taxes +€24,857
up €24,857 (+343%), from €7,254 to €32,111
- Staff costs -€8,350
down €8,350 (-20.2%), from €41,291 to €32,941
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 | €226,271 | €254,992 | +€28,721 | +12.7% |
| Fixed assets | 21/28 | €16,310 | €13,697 | -€2,613 | -16.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €16,305 | €13,692 | -€2,613 | -16.0% |
| Plant, machinery and equipment | 23 | €1,332 | €3,402 | +€2,070 | +155% |
| Furniture and vehicles | 24 | €14,973 | €10,290 | -€4,683 | -31.3% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €209,961 | €241,295 | +€31,334 | +14.9% |
| Amounts receivable within one year | 40/41 | €89,457 | €90,521 | +€1,064 | +1.2% |
| Trade receivables | 40 | €88,030 | €89,530 | +€1,500 | +1.7% |
| Other amounts receivable | 41 | €1,427 | €992 | -€436 | -30.5% |
| Cash at bank and in hand | 54/58 | €111,464 | €146,937 | +€35,473 | +31.8% |
| Deferred charges and accrued income | 490/1 | €9,040 | €3,837 | -€5,203 | -57.6% |
| Total equity and liabilities | 10/49 | €226,271 | €254,992 | +€28,721 | +12.7% |
| Equity | 10/15 | €36,447 | €118,712 | +€82,264 | +226% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,447 | €116,712 | +€82,264 | +239% |
| Amounts payable | 17/49 | €189,824 | €136,280 | -€53,543 | -28.2% |
| Amounts payable after more than one year | 17 | €8,901 | €4,119 | -€4,782 | -53.7% |
| Financial debts | 170/4 | €8,901 | €4,119 | -€4,782 | -53.7% |
| Amounts payable within one year | 42/48 | €180,922 | €132,161 | -€48,761 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €4,612 | €4,782 | +€170 | +3.7% |
| Financial debts | 43 | €659 | €1,384 | +€725 | +110% |
| Credit institutions | 430/8 | €659 | €1,384 | +€725 | +110% |
| Trade debts | 44 | €91,591 | €60,896 | -€30,695 | -33.5% |
| Suppliers | 440/4 | €91,591 | €60,896 | -€30,695 | -33.5% |
| Taxes, remuneration and social security | 45 | €31,484 | €62,394 | +€30,911 | +98.2% |
| Taxes | 450/3 | €26,955 | €59,297 | +€32,342 | +120% |
| Remuneration and social security | 454/9 | €4,529 | €3,098 | -€1,431 | -31.6% |
| Other amounts payable | 47/48 | €52,577 | €2,705 | -€49,872 | -94.9% |
| Remuneration, social security and pensions | 62 | €41,291 | €32,941 | -€8,350 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,996 | €6,567 | +€571 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €805 | €0 | -€805 | -100% |
| Other operating charges | 640/8 | €742 | €1,787 | +€1,045 | +141% |
| Non-recurring operating charges | 66A | - | €378 | +€378 | |
| Gross operating margin | 9900 | €121,712 | €156,714 | +€35,002 | +28.8% |
| Operating profit (loss) | 9901 | €72,879 | €115,042 | +€42,163 | +57.9% |
| Financial income | 75/76B | €24 | €1 | -€23 | -96.3% |
| Recurring financial income | 75 | €24 | €1 | -€23 | -96.3% |
| Financial charges | 65/66B | €889 | €668 | -€221 | -24.9% |
| Recurring financial charges | 65 | €889 | €668 | -€221 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €72,013 | €114,375 | +€42,362 | +58.8% |
| Income taxes | 67/77 | €7,254 | €32,111 | +€24,857 | +343% |
| Profit (loss) for the period | 9904 | €64,760 | €82,264 | +€17,505 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,760 | €82,264 | +€17,505 | +27.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.