JOHAN GRUWE: 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.
JOHAN GRUWE
Largest movements
- Cash +€7,183
up €7,183 (+9.1%), from €79,173 to €86,355
mainly Depreciation (+€4,409) and Trade debts (+€4,344)
- Tangible fixed assets -€3,960
down €3,960 (-64.0%), from €6,188 to €2,228
of which Furniture and vehicles: -€3,732
- Trade debts +€4,344
up €4,344 (+95.9%), from €4,531 to €8,875
- Other debts -€1,781
down €1,781 (-3.3%), from €53,996 to €52,215
- Profit (loss) carried forward +€1,073
up €1,073 (+3.7%), from -€29,138 to -€28,064
- Gross operating margin +€16,490
up €16,490, from -€8,677 to €7,814
- Depreciation -€1,770
down €1,770 (-28.6%), from €6,180 to €4,409
- Other operating charges -€252
down €252 (-11.6%), from €2,174 to €1,922
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 | €97,677 | €102,281 | +€4,604 | +4.7% |
| Fixed assets | 21/28 | €6,188 | €2,228 | -€3,960 | -64.0% |
| Tangible fixed assets | 22/27 | €6,188 | €2,228 | -€3,960 | -64.0% |
| Plant, machinery and equipment | 23 | €1,675 | €1,447 | -€228 | -13.6% |
| Furniture and vehicles | 24 | €4,513 | €782 | -€3,732 | -82.7% |
| Current assets | 29/58 | €91,489 | €100,053 | +€8,564 | +9.4% |
| Amounts receivable within one year | 40/41 | €12,316 | €12,768 | +€452 | +3.7% |
| Trade receivables | 40 | €10,736 | €10,965 | +€228 | +2.1% |
| Other amounts receivable | 41 | €1,580 | €1,803 | +€223 | +14.1% |
| Cash at bank and in hand | 54/58 | €79,173 | €86,355 | +€7,183 | +9.1% |
| Deferred charges and accrued income | 490/1 | - | €930 | +€930 | |
| Total equity and liabilities | 10/49 | €97,677 | €102,281 | +€4,604 | +4.7% |
| Equity | 10/15 | €38,800 | €39,874 | +€1,073 | +2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €47,938 | €47,938 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €45,938 | €45,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,138 | -€28,064 | +€1,073 | +3.7% |
| Amounts payable | 17/49 | €58,877 | €62,407 | +€3,531 | +6.0% |
| Amounts payable within one year | 42/48 | €58,877 | €62,407 | +€3,531 | +6.0% |
| Trade debts | 44 | €4,531 | €8,875 | +€4,344 | +95.9% |
| Suppliers | 440/4 | €4,531 | €8,875 | +€4,344 | +95.9% |
| Taxes, remuneration and social security | 45 | €350 | €1,318 | +€968 | +277% |
| Taxes | 450/3 | €350 | €368 | +€18 | +5.2% |
| Remuneration and social security | 454/9 | - | €950 | +€950 | |
| Other amounts payable | 47/48 | €53,996 | €52,215 | -€1,781 | -3.3% |
| Non-recurring operating income | 76A | - | €480 | +€480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,180 | €4,409 | -€1,770 | -28.6% |
| Other operating charges | 640/8 | €2,174 | €1,922 | -€252 | -11.6% |
| Gross operating margin | 9900 | -€8,677 | €7,814 | +€16,490 | |
| Operating profit (loss) | 9901 | -€17,031 | €1,482 | +€18,513 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +15,300% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +15,300% |
| Financial charges | 65/66B | €42 | €42 | +€0 | +0.2% |
| Recurring financial charges | 65 | €42 | €42 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€17,073 | €1,441 | +€18,514 | |
| Income taxes | 67/77 | €350 | €368 | +€18 | +5.2% |
| Profit (loss) for the period | 9904 | -€17,423 | €1,073 | +€18,496 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,423 | €1,073 | +€18,496 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.