GRYCO: 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.
GRYCO
Largest movements
- Cash +€20,984
up €20,984 (+13.1%), from €160,587 to €181,571
mainly Net result for the year (+€112,021) and Depreciation (+€57,846)
- Reserves +€161,512
up €161,512 (+45.6%), from €353,866 to €515,379
of which Distributable reserves: +€161,512
- Other debts -€105,943
down €105,943 (-11.1%), from €953,750 to €847,807
- Debts after one year -€84,176
down €84,176 (-47.9%), from €175,706 to €91,530
- Tax, wage and social debts +€34,327
up €34,327 (+71.9%), from €47,764 to €82,092
of which Taxes: +€34,904
- Accrued charges and deferred income +€24,541
up €24,541 (+88.8%), from €27,642 to €52,184
- Gross operating margin +€53,541
up €53,541 (+20.1%), from €266,845 to €320,385
- Financial charges +€22,210
up €22,210 (+65.3%), from €33,989 to €56,198
- Depreciation -€17,927
down €17,927 (-23.7%), from €75,772 to €57,846
- Taxes +€11,962
up €11,962 (+24.6%), from €48,722 to €60,684
- Staff costs -€8,553
down €8,553, from €8,289 to -€264
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 | €1,932,397 | €1,945,567 | +€13,170 | +0.7% |
| Fixed assets | 21/28 | €1,582,460 | €1,574,647 | -€7,814 | -0.5% |
| Tangible fixed assets | 22/27 | €1,582,423 | €1,574,609 | -€7,814 | -0.5% |
| Land and buildings | 22 | €1,124,728 | €1,118,405 | -€6,323 | -0.6% |
| Plant, machinery and equipment | 23 | €4,035 | €2,544 | -€1,491 | -36.9% |
| Other tangible fixed assets | 26 | €453,660 | €453,660 | = | 0.0% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €349,937 | €370,921 | +€20,984 | +6.0% |
| Amounts receivable within one year | 40/41 | €4,325 | €4,325 | = | 0.0% |
| Trade receivables | 40 | €605 | €605 | = | 0.0% |
| Other amounts receivable | 41 | €3,720 | €3,720 | = | 0.0% |
| Current investments | 50/53 | €185,025 | €185,025 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,587 | €181,571 | +€20,984 | +13.1% |
| Total equity and liabilities | 10/49 | €1,932,397 | €1,945,567 | +€13,170 | +0.7% |
| Equity | 10/15 | €606,641 | €768,153 | +€161,512 | +26.6% |
| Contributions | 10/11 | €252,774 | €252,774 | = | 0.0% |
| Capital | 10 | €252,774 | €252,774 | = | 0.0% |
| Issued capital | 100 | €252,774 | €252,774 | = | 0.0% |
| Reserves | 13 | €353,866 | €515,379 | +€161,512 | +45.6% |
| Non-distributable reserves | 130/1 | €61,023 | €61,023 | = | 0.0% |
| Legal reserve | 130 | €61,023 | €61,023 | = | 0.0% |
| Distributable reserves | 133 | €292,843 | €454,356 | +€161,512 | +55.2% |
| Amounts payable | 17/49 | €1,325,756 | €1,177,414 | -€148,342 | -11.2% |
| Amounts payable after more than one year | 17 | €175,706 | €91,530 | -€84,176 | -47.9% |
| Financial debts | 170/4 | €175,706 | €91,530 | -€84,176 | -47.9% |
| Amounts payable within one year | 42/48 | €1,122,408 | €1,033,700 | -€88,707 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €89,875 | €84,176 | -€5,700 | -6.3% |
| Trade debts | 44 | €31,018 | €19,626 | -€11,392 | -36.7% |
| Suppliers | 440/4 | €31,018 | €19,626 | -€11,392 | -36.7% |
| Taxes, remuneration and social security | 45 | €47,764 | €82,092 | +€34,327 | +71.9% |
| Taxes | 450/3 | €47,188 | €82,092 | +€34,904 | +74.0% |
| Remuneration and social security | 454/9 | €577 | - | -€577 | |
| Other amounts payable | 47/48 | €953,750 | €847,807 | -€105,943 | -11.1% |
| Accrued charges and deferred income | 492/3 | €27,642 | €52,184 | +€24,541 | +88.8% |
| Remuneration, social security and pensions | 62 | €8,289 | -€264 | -€8,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,772 | €57,846 | -€17,927 | -23.7% |
| Other operating charges | 640/8 | €34,114 | €35,462 | +€1,348 | +4.0% |
| Gross operating margin | 9900 | €266,845 | €320,385 | +€53,541 | +20.1% |
| Operating profit (loss) | 9901 | €148,669 | €227,342 | +€78,673 | +52.9% |
| Financial income | 75/76B | €538 | €1,562 | +€1,023 | +190.0% |
| Recurring financial income | 75 | €538 | €1,562 | +€1,023 | +190.0% |
| Financial charges | 65/66B | €33,989 | €56,198 | +€22,210 | +65.3% |
| Recurring financial charges | 65 | €33,989 | €56,198 | +€22,210 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €115,219 | €172,705 | +€57,486 | +49.9% |
| Transfer from deferred taxes | 780 | €1,192 | - | -€1,192 | |
| Income taxes | 67/77 | €48,722 | €60,684 | +€11,962 | +24.6% |
| Profit (loss) for the period | 9904 | €67,689 | €112,021 | +€44,332 | +65.5% |
| Transfer from tax-exempt reserves | 789 | €6,435 | - | -€6,435 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,124 | €112,021 | +€37,897 | +51.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.