GRUBAU: 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.
What changed
GRUBAU
NACE 46.620, Wholesale of machine tools
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€120,341
2024 · -€23,043+€143,384
Equity
€967,570
2024 · €897,230+€70,341
Cash
€171,294
2024 · €169,902+€1,392
Balance sheet total
€2.5m
2024 · €2.5m+€1,132
Largest movements
Assets
- Tangible fixed assets -€94,468
down €94,468 (-8.6%), from €1.1m to €1.0m
of which Other tangible fixed assets: -€73,291
- Intangible fixed assets +€60,495
up €60,495 (+123.3%), from €49,050 to €109,545
Equity and liabilities
- Debts after one year -€84,222
down €84,222 (-9.3%), from €907,551 to €823,328
of which Financial debts: -€85,492
- Reserves +€70,341
up €70,341 (+8.0%), from €877,190 to €947,531
of which Distributable reserves: +€70,341
- Other debts +€51,909
up €51,909 (+485.4%), from €10,694 to €62,604
- Trade debts -€51,036
down €51,036 (-15.5%), from €330,189 to €279,153
Income statement
- Gross operating margin +€210,866
up €210,866 (+27.2%), from €775,881 to €986,747
- Depreciation +€61,652
up €61,652 (+51.1%), from €120,611 to €182,263
- Staff costs -€20,919
down €20,919 (-3.4%), from €616,508 to €595,590
- Taxes +€14,964
up €14,964 (+1608.9%), from €930 to €15,894
- Other operating charges +€12,390
up €12,390 (+80.9%), from €15,316 to €27,706
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.
Result 2024
-€23,043
Gross operating margin
+€210,866
Staff costs
+€20,919
Depreciation
-€61,652
Write-downs
-€3,998
Other operating charges
-€12,390
Other operating items
-€18
Financial income
+€2,142
Financial charges
+€2,531
Taxes
-€14,964
Deferred taxes and other
-€52
Result 2025
€120,341
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.
From operations
+€264,948
Investment
-€148,290
Financing
-€115,266
Cash 2024
€169,902
From operations (derived)
+€264,948
Net result for the year
+€120,341
Depreciation
+€182,263
Stocks and contracts
-€17,221
Receivables within one year
-€17,179
Deferred charges and accrued income
+€687
Trade debts
-€51,036
Tax, wage and social debts
-€893
Advances received
-€1,566
Other debts
+€51,909
Accrued charges and deferred income
-€2,357
Investment (derived)
-€148,290
Investment in fixed assets (net)
-€148,290
Financing
-€115,266
Debts after one year
-€84,222
Current portion of long-term debt
+€19,026
Short-term financial debts
-€70
Contributions, distributions and other
-€50,000
Cash 2025
€171,294
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,531,011 | €2,532,144 | +€1,132 | 0.0% |
| Fixed assets | 21/28 | €1,152,486 | €1,118,513 | -€33,973 | -2.9% |
| Intangible fixed assets | 21 | €49,050 | €109,545 | +€60,495 | +123.3% |
| Tangible fixed assets | 22/27 | €1,103,435 | €1,008,967 | -€94,468 | -8.6% |
| Land and buildings | 22 | €119,295 | €129,153 | +€9,858 | +8.3% |
| Plant, machinery and equipment | 23 | €179,693 | €175,413 | -€4,281 | -2.4% |
| Furniture and vehicles | 24 | €98,848 | €72,094 | -€26,755 | -27.1% |
| Other tangible fixed assets | 26 | €705,599 | €632,308 | -€73,291 | -10.4% |
| Current assets | 29/58 | €1,378,526 | €1,413,631 | +€35,105 | +2.5% |
| Stocks and contracts in progress | 3 | €714,283 | €731,504 | +€17,221 | +2.4% |
| Stocks | 30/36 | €714,283 | €731,504 | +€17,221 | +2.4% |
| Amounts receivable within one year | 40/41 | €452,330 | €469,510 | +€17,179 | +3.8% |
| Trade receivables | 40 | €445,163 | €468,765 | +€23,601 | +5.3% |
| Other amounts receivable | 41 | €7,167 | €745 | -€6,422 | -89.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €169,902 | €171,294 | +€1,392 | +0.8% |
| Deferred charges and accrued income | 490/1 | €42,010 | €41,323 | -€687 | -1.6% |
| Total equity and liabilities | 10/49 | €2,531,011 | €2,532,144 | +€1,132 | 0.0% |
| Equity | 10/15 | €897,230 | €967,570 | +€70,341 | +7.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €877,190 | €947,531 | +€70,341 | +8.0% |
| Tax-exempt reserves | 132 | €42,598 | €42,598 | = | 0.0% |
| Distributable reserves | 133 | €834,593 | €904,933 | +€70,341 | +8.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €1,489 | €1,489 | = | 0.0% |
| Provisions and deferred taxes | 16 | €496 | €496 | = | 0.0% |
| Deferred taxes | 168 | €496 | €496 | = | 0.0% |
| Amounts payable | 17/49 | €1,633,285 | €1,564,077 | -€69,209 | -4.2% |
| Amounts payable after more than one year | 17 | €907,551 | €823,328 | -€84,222 | -9.3% |
| Financial debts | 170/4 | €844,291 | €758,799 | -€85,492 | -10.1% |
| Other amounts payable | 178/9 | €63,259 | €64,529 | +€1,270 | +2.0% |
| Amounts payable within one year | 42/48 | €719,821 | €737,192 | +€17,371 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €119,228 | €138,254 | +€19,026 | +16.0% |
| Financial debts | 43 | €145,250 | €145,180 | -€70 | 0.0% |
| Credit institutions | 430/8 | €145,250 | €145,180 | -€70 | 0.0% |
| Trade debts | 44 | €330,189 | €279,153 | -€51,036 | -15.5% |
| Suppliers | 440/4 | €330,189 | €279,153 | -€51,036 | -15.5% |
| Advances received on contracts in progress | 46 | €12,293 | €10,727 | -€1,566 | -12.7% |
| Taxes, remuneration and social security | 45 | €102,166 | €101,274 | -€893 | -0.9% |
| Taxes | 450/3 | €39,076 | €45,601 | +€6,524 | +16.7% |
| Remuneration and social security | 454/9 | €63,090 | €55,673 | -€7,417 | -11.8% |
| Other amounts payable | 47/48 | €10,694 | €62,604 | +€51,909 | +485.4% |
| Accrued charges and deferred income | 492/3 | €5,914 | €3,557 | -€2,357 | -39.9% |
| Non-recurring operating income | 76A | €7,000 | €0 | -€7,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €616,508 | €595,590 | -€20,919 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,611 | €182,263 | +€61,652 | +51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,317 | €8,316 | +€3,998 | +92.6% |
| Other operating charges | 640/8 | €15,316 | €27,706 | +€12,390 | +80.9% |
| Non-recurring operating charges | 66A | €0 | €18 | +€18 | |
| Gross operating margin | 9900 | €775,881 | €986,747 | +€210,866 | +27.2% |
| Operating profit (loss) | 9901 | €19,128 | €172,855 | +€153,727 | +803.7% |
| Financial income | 75/76B | €25,043 | €27,185 | +€2,142 | +8.6% |
| Recurring financial income | 75 | €25,043 | €27,185 | +€2,142 | +8.6% |
| Financial charges | 65/66B | €66,336 | €63,805 | -€2,531 | -3.8% |
| Recurring financial charges | 65 | €66,336 | €63,805 | -€2,531 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,165 | €136,235 | +€158,400 | |
| Transfer from deferred taxes | 780 | €52 | €0 | -€52 | -100.0% |
| Income taxes | 67/77 | €930 | €15,894 | +€14,964 | +1608.9% |
| Profit (loss) for the period | 9904 | -€23,043 | €120,341 | +€143,384 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,043 | €120,341 | +€143,384 |
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 10 October 2026 via checked.be.