GRUNHUS: 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.
GRUNHUS
Largest movements
- Receivables within one year -€48,441
down €48,441 (-83.3%), from €58,172 to €9,731
of which Trade receivables: -€49,047
- Cash +€24,988
up €24,988 (+1093.6%), from €2,285 to €27,273
mainly Receivables within one year (+€48,441) and Trade debts (+€26,415)
- Tangible fixed assets +€24,936
up €24,936 (+71.5%), from €34,895 to €59,831
of which Furniture and vehicles: +€28,076
- Stocks and contracts +€18,729
up €18,729 (+103.2%), from €18,157 to €36,886
- Trade debts +€26,415
up €26,415 (+379.7%), from €6,957 to €33,372
- Other debts -€12,382
down €12,382 (-70.9%), from €17,473 to €5,091
- Profit (loss) carried forward +€11,746
up €11,746 (+52.9%), from €22,185 to €33,931
- Current portion of long-term debt -€6,690
no longer reported in 2025 (was €6,690)
- Tax, wage and social debts +€1,678
up €1,678 (+6.6%), from €25,494 to €27,172
- Taxes -€3,078
down €3,078 (-68.5%), from €4,495 to €1,417
- Depreciation +€2,946
up €2,946 (+19.2%), from €15,314 to €18,260
- Financial income -€1,104
down €1,104 (-82.9%), from €1,331 to €227
- Gross operating margin +€737
up €737 (+2.1%), from €34,496 to €35,233
- Financial charges +€616
up €616 (+42.3%), from €1,456 to €2,072
of which Financial charges: +€551
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,009 | €134,566 | +€20,557 | +18.0% |
| Fixed assets | 21/28 | €35,395 | €60,331 | +€24,936 | +70.5% |
| Tangible fixed assets | 22/27 | €34,895 | €59,831 | +€24,936 | +71.5% |
| Plant, machinery and equipment | 23 | €24,095 | €20,955 | -€3,140 | -13.0% |
| Furniture and vehicles | 24 | €10,800 | €38,876 | +€28,076 | +260.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €78,614 | €74,235 | -€4,379 | -5.6% |
| Stocks and contracts in progress | 3 | €18,157 | €36,886 | +€18,729 | +103.2% |
| Stocks | 30/36 | €18,157 | €36,886 | +€18,729 | +103.2% |
| Amounts receivable within one year | 40/41 | €58,172 | €9,731 | -€48,441 | -83.3% |
| Trade receivables | 40 | €56,667 | €7,620 | -€49,047 | -86.6% |
| Other amounts receivable | 41 | €1,505 | €2,111 | +€606 | +40.3% |
| Cash at bank and in hand | 54/58 | €2,285 | €27,273 | +€24,988 | +1093.6% |
| Deferred charges and accrued income | 490/1 | - | €345 | +€345 | |
| Total equity and liabilities | 10/49 | €114,009 | €134,566 | +€20,557 | +18.0% |
| Equity | 10/15 | €27,185 | €38,931 | +€11,746 | +43.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,185 | €33,931 | +€11,746 | +52.9% |
| Amounts payable | 17/49 | €86,824 | €95,635 | +€8,811 | +10.1% |
| Amounts payable after more than one year | 17 | €30,080 | €30,000 | -€80 | -0.3% |
| Financial debts | 170/4 | €30,080 | €30,000 | -€80 | -0.3% |
| Amounts payable within one year | 42/48 | €56,614 | €65,635 | +€9,021 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €6,690 | - | -€6,690 | |
| Trade debts | 44 | €6,957 | €33,372 | +€26,415 | +379.7% |
| Suppliers | 440/4 | €6,957 | €33,372 | +€26,415 | +379.7% |
| Taxes, remuneration and social security | 45 | €25,494 | €27,172 | +€1,678 | +6.6% |
| Taxes | 450/3 | €25,494 | €27,172 | +€1,678 | +6.6% |
| Other amounts payable | 47/48 | €17,473 | €5,091 | -€12,382 | -70.9% |
| Accrued charges and deferred income | 492/3 | €130 | - | -€130 | |
| Remuneration, social security and pensions | 62 | €293 | - | -€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,314 | €18,260 | +€2,946 | +19.2% |
| Other operating charges | 640/8 | €1,085 | €1,165 | +€80 | +7.4% |
| Gross operating margin | 9900 | €34,496 | €35,233 | +€737 | +2.1% |
| Operating profit (loss) | 9901 | €17,804 | €15,808 | -€1,996 | -11.2% |
| Financial income | 75/76B | €1,331 | €227 | -€1,104 | -82.9% |
| Recurring financial income | 75 | €1,331 | €227 | -€1,104 | -82.9% |
| Financial charges | 65/66B | €1,456 | €2,072 | +€616 | +42.3% |
| Recurring financial charges | 65 | €1,456 | €2,007 | +€551 | +37.8% |
| Non-recurring financial charges | 66B | - | €65 | +€65 | |
| Profit (loss) for the period before taxes | 9903 | €17,679 | €13,963 | -€3,716 | -21.0% |
| Income taxes | 67/77 | €4,495 | €1,417 | -€3,078 | -68.5% |
| Profit (loss) for the period | 9904 | €13,184 | €12,546 | -€638 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,184 | €12,546 | -€638 | -4.8% |
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 12 October 2026 via checked.be.