GRZA Consulting: 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.
GRZA Consulting
Largest movements
- Cash -€13,919
down €13,919 (-65.4%), from €21,279 to €7,360
mainly Contributions, distributions and other (-€30,594) and Deferred charges and accrued income (-€13,079)
- Deferred charges and accrued income +€13,079
up €13,079 (+851%), from €1,538 to €14,617
- Receivables after one year +€10,000
new in 2025: €10,000
- Current investments +€5,000
up €5,000 (+10.0%), from €50,000 to €55,000
- Receivables within one year +€1,687
up €1,687 (+18.0%), from €9,389 to €11,076
of which Trade receivables: +€1,517
- Other debts +€29,984
up €29,984 (+3,599%), from €833 to €30,817
- Tax, wage and social debts -€12,066
down €12,066 (-60.2%), from €20,032 to €7,966
- Depreciation -€4,498
down €4,498 (-67.9%), from €6,628 to €2,130
- Taxes -€2,213
down €2,213 (-18.0%), from €12,320 to €10,107
- Other operating charges +€1,688
up €1,688 (+407%), from €415 to €2,103
- Gross operating margin -€1,110
down €1,110 (-2.5%), from €44,981 to €43,872
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.
Derived cash bridge
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 | €85,691 | €102,816 | +€17,125 | +20.0% |
| Fixed assets | 21/28 | €3,486 | €4,763 | +€1,277 | +36.6% |
| Tangible fixed assets | 22/27 | €3,486 | €4,763 | +€1,277 | +36.6% |
| Furniture and vehicles | 24 | €3,486 | €4,763 | +€1,277 | +36.6% |
| Current assets | 29/58 | €82,205 | €98,053 | +€15,847 | +19.3% |
| Amounts receivable after more than one year | 29 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 291 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €9,389 | €11,076 | +€1,687 | +18.0% |
| Trade receivables | 40 | €9,389 | €10,906 | +€1,517 | +16.2% |
| Other amounts receivable | 41 | - | €170 | +€170 | |
| Current investments | 50/53 | €50,000 | €55,000 | +€5,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €21,279 | €7,360 | -€13,919 | -65.4% |
| Deferred charges and accrued income | 490/1 | €1,538 | €14,617 | +€13,079 | +851% |
| Total equity and liabilities | 10/49 | €85,691 | €102,816 | +€17,125 | +20.0% |
| Equity | 10/15 | €63,642 | €63,642 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €63,542 | €63,542 | = | 0.0% |
| Distributable reserves | 133 | €63,542 | €63,542 | = | 0.0% |
| Amounts payable | 17/49 | €22,049 | €39,174 | +€17,125 | +77.7% |
| Amounts payable within one year | 42/48 | €22,049 | €39,174 | +€17,125 | +77.7% |
| Trade debts | 44 | €1,184 | €391 | -€792 | -66.9% |
| Suppliers | 440/4 | €1,184 | €391 | -€792 | -66.9% |
| Taxes, remuneration and social security | 45 | €20,032 | €7,966 | -€12,066 | -60.2% |
| Taxes | 450/3 | €20,032 | €7,966 | -€12,066 | -60.2% |
| Other amounts payable | 47/48 | €833 | €30,817 | +€29,984 | +3,599% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,628 | €2,130 | -€4,498 | -67.9% |
| Other operating charges | 640/8 | €415 | €2,103 | +€1,688 | +407% |
| Gross operating margin | 9900 | €44,981 | €43,872 | -€1,110 | -2.5% |
| Operating profit (loss) | 9901 | €37,939 | €39,638 | +€1,700 | +4.5% |
| Financial income | 75/76B | €965 | €1,106 | +€141 | +14.6% |
| Recurring financial income | 75 | €965 | €1,106 | +€141 | +14.6% |
| Financial charges | 65/66B | €40 | €44 | +€4 | +10.4% |
| Recurring financial charges | 65 | €40 | €44 | +€4 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €38,864 | €40,700 | +€1,837 | +4.7% |
| Income taxes | 67/77 | €12,320 | €10,107 | -€2,213 | -18.0% |
| Profit (loss) for the period | 9904 | €26,544 | €30,594 | +€4,050 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,544 | €30,594 | +€4,050 | +15.3% |
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 13 October 2026 via checked.be.