GRT: 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.
GRT
Largest movements
- Cash -€42,755
down €42,755 (-49.8%), from €85,797 to €43,042
mainly Investment in fixed assets (net) (-€41,582) and Other debts (-€27,677)
- Other debts -€27,677
down €27,677 (-90.7%), from €30,524 to €2,847
- Debts after one year -€15,315
down €15,315 (-12.4%), from €123,180 to €107,865
- Profit (loss) carried forward +€6,187
up €6,187 (+28.2%), from €21,940 to €28,127
- Advances received -€5,000
down €5,000 (-43.5%), from €11,500 to €6,500
- Tax, wage and social debts -€3,586
down €3,586 (-72.5%), from €4,948 to €1,362
of which Taxes: -€3,586
- Gross operating margin -€16,036
down €16,036 (-22.3%), from €71,988 to €55,952
- Financial charges -€2,103
down €2,103 (-43.8%), from €4,804 to €2,701
- Depreciation -€1,813
down €1,813 (-4.0%), from €45,361 to €43,547
- Taxes -€1,694
down €1,694 (-75.9%), from €2,232 to €537
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 | €331,829 | €287,069 | -€44,760 | -13.5% |
| Fixed assets | 21/28 | €224,943 | €222,978 | -€1,966 | -0.9% |
| Tangible fixed assets | 22/27 | €224,943 | €222,978 | -€1,966 | -0.9% |
| Land and buildings | 22 | €130,970 | €120,634 | -€10,336 | -7.9% |
| Plant, machinery and equipment | 23 | €53,446 | €77,867 | +€24,420 | +45.7% |
| Furniture and vehicles | 24 | €40,527 | €24,477 | -€16,050 | -39.6% |
| Current assets | 29/58 | €106,886 | €64,092 | -€42,794 | -40.0% |
| Stocks and contracts in progress | 3 | €13,746 | €15,251 | +€1,506 | +11.0% |
| Stocks | 30/36 | €13,746 | €15,251 | +€1,506 | +11.0% |
| Amounts receivable within one year | 40/41 | €3,215 | €2,956 | -€259 | -8.1% |
| Trade receivables | 40 | €3,215 | €0 | -€3,215 | -100% |
| Other amounts receivable | 41 | €0 | €2,956 | +€2,956 | |
| Cash at bank and in hand | 54/58 | €85,797 | €43,042 | -€42,755 | -49.8% |
| Deferred charges and accrued income | 490/1 | €4,128 | €2,843 | -€1,286 | -31.1% |
| Total equity and liabilities | 10/49 | €331,829 | €287,069 | -€44,760 | -13.5% |
| Equity | 10/15 | €146,183 | €152,695 | +€6,512 | +4.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €62,742 | €63,068 | +€326 | +0.5% |
| Non-distributable reserves | 130/1 | €5,742 | €6,068 | +€326 | +5.7% |
| Legal reserve | 130 | €5,742 | €6,068 | +€326 | +5.7% |
| Distributable reserves | 133 | €57,000 | €57,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,940 | €28,127 | +€6,187 | +28.2% |
| Amounts payable | 17/49 | €185,647 | €134,374 | -€51,272 | -27.6% |
| Amounts payable after more than one year | 17 | €123,180 | €107,865 | -€15,315 | -12.4% |
| Financial debts | 170/4 | €123,180 | €107,865 | -€15,315 | -12.4% |
| Amounts payable within one year | 42/48 | €62,467 | €26,509 | -€35,958 | -57.6% |
| Current portion of amounts payable after more than one year | 42 | €14,969 | €15,315 | +€346 | +2.3% |
| Trade debts | 44 | €526 | €485 | -€41 | -7.8% |
| Suppliers | 440/4 | €526 | €485 | -€41 | -7.8% |
| Advances received on contracts in progress | 46 | €11,500 | €6,500 | -€5,000 | -43.5% |
| Taxes, remuneration and social security | 45 | €4,948 | €1,362 | -€3,586 | -72.5% |
| Taxes | 450/3 | €4,948 | €1,362 | -€3,586 | -72.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,524 | €2,847 | -€27,677 | -90.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,361 | €43,547 | -€1,813 | -4.0% |
| Other operating charges | 640/8 | €2,314 | €2,660 | +€346 | +15.0% |
| Gross operating margin | 9900 | €71,988 | €55,952 | -€16,036 | -22.3% |
| Operating profit (loss) | 9901 | €24,314 | €9,744 | -€14,569 | -59.9% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €4,804 | €2,701 | -€2,103 | -43.8% |
| Recurring financial charges | 65 | €4,804 | €2,701 | -€2,103 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €19,510 | €7,050 | -€12,460 | -63.9% |
| Income taxes | 67/77 | €2,232 | €537 | -€1,694 | -75.9% |
| Profit (loss) for the period | 9904 | €17,278 | €6,512 | -€10,766 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,278 | €6,512 | -€10,766 | -62.3% |
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 15 October 2026 via checked.be.