GRUUTHUSE PROJECTS: 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.
GRUUTHUSE PROJECTS
Largest movements
- Financial fixed assets -€4.0m
down €4.0m (-41.3%), from €9.8m to €5.8m
- Receivables within one year -€659,186
down €659,186 (-99.4%), from €663,147 to €3,961
of which Other amounts receivable: -€654,965
- Cash +€130,707
up €130,707 (+379.2%), from €34,469 to €165,176
mainly Investment in fixed assets (net) (+€4.0m) and Net result for the year (+€1.1m)
- Other debts -€4.6m
down €4.6m (-99.6%), from €4.6m to €16,753
- Accrued charges and deferred income -€1.1m
down €1.1m (-100.0%), from €1.1m to €378
- Profit (loss) carried forward +€1.1m
up €1.1m (+57.0%), from -€1.9m to -€823,570
- Financial income +€1.2m
up €1.2m (+4421.0%), from €26,643 to €1.2m
of which Non-recurring financial income: +€1.2m
- Financial charges -€131,282
down €131,282 (-70.5%), from €186,290 to €55,008
- Gross operating margin +€24,747
up €24,747 (+56.9%), from -€43,462 to -€18,715
- Other operating charges +€4,743
up €4,743 (+44.4%), from €10,674 to €15,417
- Depreciation +€1,063
up €1,063 (+4.4%), from €24,108 to €25,171
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 | €10,901,201 | €6,244,848 | -€4.7m | -42.7% |
| Fixed assets | 21/28 | €10,104,253 | €6,034,082 | -€4.1m | -40.3% |
| Tangible fixed assets | 22/27 | €300,517 | €275,346 | -€25,171 | -8.4% |
| Land and buildings | 22 | €300,517 | €275,346 | -€25,171 | -8.4% |
| Financial fixed assets | 28 | €9,803,736 | €5,758,736 | -€4.0m | -41.3% |
| Current assets | 29/58 | €796,948 | €210,766 | -€586,182 | -73.6% |
| Amounts receivable within one year | 40/41 | €663,147 | €3,961 | -€659,186 | -99.4% |
| Trade receivables | 40 | €8,088 | €3,867 | -€4,221 | -52.2% |
| Other amounts receivable | 41 | €655,059 | €94 | -€654,965 | -100.0% |
| Current investments | 50/53 | €988 | - | -€988 | |
| Cash at bank and in hand | 54/58 | €34,469 | €165,176 | +€130,707 | +379.2% |
| Deferred charges and accrued income | 490/1 | €98,344 | €41,629 | -€56,715 | -57.7% |
| Total equity and liabilities | 10/49 | €10,901,201 | €6,244,848 | -€4.7m | -42.7% |
| Equity | 10/15 | €5,126,128 | €6,216,346 | +€1.1m | +21.3% |
| Contributions | 10/11 | €6,965,718 | €6,965,718 | = | 0.0% |
| Capital | 10 | €6,965,718 | €6,965,718 | = | 0.0% |
| Issued capital | 100 | €6,965,718 | €6,965,718 | = | 0.0% |
| Reserves | 13 | €74,198 | €74,198 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74,198 | €74,198 | = | 0.0% |
| Legal reserve | 130 | €74,198 | €74,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,913,788 | -€823,570 | +€1.1m | +57.0% |
| Amounts payable | 17/49 | €5,775,073 | €28,502 | -€5.7m | -99.5% |
| Amounts payable within one year | 42/48 | €4,648,534 | €28,124 | -€4.6m | -99.4% |
| Trade debts | 44 | €13,215 | €10,542 | -€2,673 | -20.2% |
| Suppliers | 440/4 | €13,215 | €10,542 | -€2,673 | -20.2% |
| Taxes, remuneration and social security | 45 | €35 | €829 | +€794 | +2268.6% |
| Taxes | 450/3 | €35 | €829 | +€794 | +2268.6% |
| Other amounts payable | 47/48 | €4,635,284 | €16,753 | -€4.6m | -99.6% |
| Accrued charges and deferred income | 492/3 | €1,126,539 | €378 | -€1.1m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,108 | €25,171 | +€1,063 | +4.4% |
| Other operating charges | 640/8 | €10,674 | €15,417 | +€4,743 | +44.4% |
| Gross operating margin | 9900 | -€43,462 | -€18,715 | +€24,747 | +56.9% |
| Operating profit (loss) | 9901 | -€78,244 | -€59,303 | +€18,941 | +24.2% |
| Financial income | 75/76B | €26,643 | €1,204,529 | +€1.2m | +4421.0% |
| Recurring financial income | 75 | €26,643 | €54 | -€26,589 | -99.8% |
| Non-recurring financial income | 76B | - | €1,204,475 | +€1.2m | |
| Financial charges | 65/66B | €186,290 | €55,008 | -€131,282 | -70.5% |
| Recurring financial charges | 65 | €186,290 | €55,008 | -€131,282 | -70.5% |
| Profit (loss) for the period before taxes | 9903 | -€237,891 | €1,090,218 | +€1.3m | |
| Profit (loss) for the period | 9904 | -€237,891 | €1,090,218 | +€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€237,891 | €1,090,218 | +€1.3m |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.