Grunt: what changed
Two fiscal 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.
Grunt
Largest movements
- Receivables within one year -€25,488
down €25,488 (-67.4%), from €37,797 to €12,309
of which Trade receivables: -€22,574
- Cash +€21,066
up €21,066 (+115.3%), from €18,271 to €39,336
mainly Receivables within one year (+€25,488) and Trade debts (+€4,459)
- Tangible fixed assets -€1,670
down €1,670 (-35.8%), from €4,670 to €3,000
- Current investments +€1,013
up €1,013 (+4.3%), from €23,316 to €24,329
- Tax, wage and social debts -€6,774
down €6,774 (-81.6%), from €8,300 to €1,526
- Trade debts +€4,459
up €4,459 (+132.1%), from €3,376 to €7,835
- Reserves -€4,000
down €4,000 (-6.1%), from €66,000 to €62,000
- Other debts +€1,966
up €1,966 (+59.1%), from €3,328 to €5,294
- Gross operating margin -€4,660
down €4,660, from €1,342 to -€3,318
- Financial income -€655
down €655 (-39.3%), from €1,668 to €1,013
- Taxes -€436
down €436 (-96.8%), from €450 to €15
- Other operating charges +€228
up €228 (+58.9%), from €387 to €616
- Financial charges -€173
down €173 (-60.6%), from €286 to €113
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 | €84,845 | €79,714 | -€5,131 | -6.0% |
| Fixed assets | 21/28 | €4,670 | €3,000 | -€1,670 | -35.8% |
| Tangible fixed assets | 22/27 | €4,670 | €3,000 | -€1,670 | -35.8% |
| Furniture and vehicles | 24 | €4,670 | €3,000 | -€1,670 | -35.8% |
| Current assets | 29/58 | €80,175 | €76,714 | -€3,461 | -4.3% |
| Amounts receivable within one year | 40/41 | €37,797 | €12,309 | -€25,488 | -67.4% |
| Trade receivables | 40 | €24,162 | €1,588 | -€22,574 | -93.4% |
| Other amounts receivable | 41 | €13,635 | €10,721 | -€2,913 | -21.4% |
| Current investments | 50/53 | €23,316 | €24,329 | +€1,013 | +4.3% |
| Cash at bank and in hand | 54/58 | €18,271 | €39,336 | +€21,066 | +115.3% |
| Deferred charges and accrued income | 490/1 | €791 | €740 | -€52 | -6.5% |
| Total equity and liabilities | 10/49 | €84,845 | €79,714 | -€5,131 | -6.0% |
| Equity | 10/15 | €69,477 | €64,759 | -€4,718 | -6.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,000 | €62,000 | -€4,000 | -6.1% |
| Distributable reserves | 133 | €66,000 | €62,000 | -€4,000 | -6.1% |
| Profit (loss) carried forward | 14 | €977 | €259 | -€718 | -73.5% |
| Amounts payable | 17/49 | €15,368 | €14,955 | -€413 | -2.7% |
| Amounts payable within one year | 42/48 | €15,004 | €14,655 | -€349 | -2.3% |
| Trade debts | 44 | €3,376 | €7,835 | +€4,459 | +132.1% |
| Suppliers | 440/4 | €3,376 | €7,835 | +€4,459 | +132.1% |
| Taxes, remuneration and social security | 45 | €8,300 | €1,526 | -€6,774 | -81.6% |
| Taxes | 450/3 | €8,300 | €1,526 | -€6,774 | -81.6% |
| Other amounts payable | 47/48 | €3,328 | €5,294 | +€1,966 | +59.1% |
| Accrued charges and deferred income | 492/3 | €364 | €300 | -€64 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,670 | €1,670 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €616 | +€228 | +58.9% |
| Gross operating margin | 9900 | €1,342 | -€3,318 | -€4,660 | |
| Operating profit (loss) | 9901 | -€715 | -€5,603 | -€4,888 | -683.6% |
| Financial income | 75/76B | €1,668 | €1,013 | -€655 | -39.3% |
| Recurring financial income | 75 | €1,668 | €1,013 | -€655 | -39.3% |
| Financial charges | 65/66B | €286 | €113 | -€173 | -60.6% |
| Recurring financial charges | 65 | €286 | €113 | -€173 | -60.6% |
| Profit (loss) for the period before taxes | 9903 | €666 | -€4,703 | -€5,369 | |
| Income taxes | 67/77 | €450 | €15 | -€436 | -96.8% |
| Profit (loss) for the period | 9904 | €216 | -€4,718 | -€4,934 | |
| Profit (loss) for the period to be appropriated | 9905 | €216 | -€4,718 | -€4,934 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.