HANNE GREGOOR: what changed
HANNE GREGOOR
Largest movements
- Cash +€28,402
up €28,402 (+21.6%), from €131,386 to €159,788
mainly Net result for the year (+€61,770) and Depreciation (+€43,096)
- Tangible fixed assets -€28,156
down €28,156 (-13.0%), from €216,190 to €188,034
of which Land and buildings: -€22,492
- Receivables within one year -€27,822
down €27,822 (-94.8%), from €29,347 to €1,526
- Deferred charges and accrued income +€6,941
up €6,941 (+83.1%), from €8,353 to €15,293
- Debts after one year -€26,584
down €26,584 (-40.2%), from €66,134 to €39,550
- Reserves -€20,116
down €20,116 (-6.3%), from €318,186 to €298,071
- Trade debts +€11,694
up €11,694 (+66.1%), from €17,680 to €29,374
- Tax, wage and social debts +€9,346
up €9,346 (+48.6%), from €19,238 to €28,584
of which Remuneration and social security: +€12,371
- Other debts +€5,114
new in 2025: €5,114
- Staff costs +€25,645
up €25,645 (+31.4%), from €81,687 to €107,332
- Gross operating margin +€19,824
up €19,824 (+8.7%), from €227,476 to €247,300
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €466,767 | €447,276 | -€19,490 | -4.2% |
| Fixed assets | 21/28 | €216,190 | €188,034 | -€28,156 | -13.0% |
| Tangible fixed assets | 22/27 | €216,190 | €188,034 | -€28,156 | -13.0% |
| Land and buildings | 22 | €159,802 | €137,310 | -€22,492 | -14.1% |
| Plant, machinery and equipment | 23 | €48,200 | €40,607 | -€7,594 | -15.8% |
| Furniture and vehicles | 24 | €8,188 | €10,118 | +€1,930 | +23.6% |
| Current assets | 29/58 | €250,576 | €259,242 | +€8,666 | +3.5% |
| Stocks and contracts in progress | 3 | €12,707 | €13,852 | +€1,144 | +9.0% |
| Stocks | 30/36 | €12,707 | €13,852 | +€1,144 | +9.0% |
| Amounts receivable within one year | 40/41 | €29,347 | €1,526 | -€27,822 | -94.8% |
| Other amounts receivable | 41 | €29,347 | €1,526 | -€27,822 | -94.8% |
| Current investments | 50/53 | €68,784 | €68,784 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €131,386 | €159,788 | +€28,402 | +21.6% |
| Deferred charges and accrued income | 490/1 | €8,353 | €15,293 | +€6,941 | +83.1% |
| Total equity and liabilities | 10/49 | €466,767 | €447,276 | -€19,490 | -4.2% |
| Equity | 10/15 | €338,186 | €318,071 | -€20,116 | -5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €318,186 | €298,071 | -€20,116 | -6.3% |
| Distributable reserves | 133 | €318,186 | €298,071 | -€20,116 | -6.3% |
| Amounts payable | 17/49 | €128,581 | €129,206 | +€625 | +0.5% |
| Amounts payable after more than one year | 17 | €66,134 | €39,550 | -€26,584 | -40.2% |
| Financial debts | 170/4 | €66,134 | €39,550 | -€26,584 | -40.2% |
| Amounts payable within one year | 42/48 | €62,447 | €89,656 | +€27,209 | +43.6% |
| Current portion of amounts payable after more than one year | 42 | €25,529 | €26,584 | +€1,055 | +4.1% |
| Trade debts | 44 | €17,680 | €29,374 | +€11,694 | +66.1% |
| Suppliers | 440/4 | €17,680 | €29,374 | +€11,694 | +66.1% |
| Taxes, remuneration and social security | 45 | €19,238 | €28,584 | +€9,346 | +48.6% |
| Taxes | 450/3 | €8,305 | €5,281 | -€3,025 | -36.4% |
| Remuneration and social security | 454/9 | €10,932 | €23,303 | +€12,371 | +113% |
| Other amounts payable | 47/48 | - | €5,114 | +€5,114 | |
| Remuneration, social security and pensions | 62 | €81,687 | €107,332 | +€25,645 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,648 | €43,096 | +€448 | +1.0% |
| Other operating charges | 640/8 | €1,408 | €1,338 | -€70 | -5.0% |
| Gross operating margin | 9900 | €227,476 | €247,300 | +€19,824 | +8.7% |
| Operating profit (loss) | 9901 | €101,733 | €95,534 | -€6,199 | -6.1% |
| Financial income | 75/76B | €4,346 | €4,116 | -€229 | -5.3% |
| Recurring financial income | 75 | €4,346 | €4,116 | -€229 | -5.3% |
| Financial charges | 65/66B | €8,155 | €8,653 | +€498 | +6.1% |
| Recurring financial charges | 65 | €8,155 | €8,653 | +€498 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €97,925 | €90,998 | -€6,927 | -7.1% |
| Income taxes | 67/77 | €31,323 | €29,228 | -€2,095 | -6.7% |
| Profit (loss) for the period | 9904 | €66,602 | €61,770 | -€4,832 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,602 | €61,770 | -€4,832 | -7.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.