Karel Grimminck: 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.
Karel Grimminck
Largest movements
- Tangible fixed assets -€94,228
down €94,228 (-4.2%), from €2.2m to €2.2m
of which Land and buildings: -€90,176
- Reserves -€51,151
down €51,151 (-7.2%), from €707,178 to €656,027
of which Distributable reserves: -€50,424
- Depreciation -€99,298
down €99,298 (-45.9%), from €216,296 to €116,999
- Gross operating margin +€30,442
up €30,442 (+49.8%), from €61,160 to €91,602
- Financial income -€6,458
down €6,458 (-100.0%), from €6,458 to €0
- Other operating charges -€4,533
down €4,533 (-20.3%), from €22,364 to €17,831
- Financial charges -€3,899
down €3,899 (-33.0%), from €11,822 to €7,923
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 | €2,338,822 | €2,263,820 | -€75,002 | -3.2% |
| Fixed assets | 21/28 | €2,245,595 | €2,151,367 | -€94,228 | -4.2% |
| Tangible fixed assets | 22/27 | €2,245,595 | €2,151,367 | -€94,228 | -4.2% |
| Land and buildings | 22 | €2,229,766 | €2,139,590 | -€90,176 | -4.0% |
| Plant, machinery and equipment | 23 | €15,828 | €11,777 | -€4,051 | -25.6% |
| Current assets | 29/58 | €93,227 | €112,453 | +€19,226 | +20.6% |
| Amounts receivable within one year | 40/41 | €1,937 | €1,937 | = | 0.0% |
| Other amounts receivable | 41 | €1,937 | €1,937 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €79,534 | €78,925 | -€609 | -0.8% |
| Deferred charges and accrued income | 490/1 | €11,755 | €31,591 | +€19,835 | +169% |
| Total equity and liabilities | 10/49 | €2,338,822 | €2,263,820 | -€75,002 | -3.2% |
| Equity | 10/15 | €2,190,602 | €2,139,451 | -€51,151 | -2.3% |
| Contributions | 10/11 | €1,483,424 | €1,483,424 | = | 0.0% |
| Reserves | 13 | €707,178 | €656,027 | -€51,151 | -7.2% |
| Non-distributable reserves | 130/1 | €727 | €0 | -€727 | -100% |
| Reserves not available under the articles | 1311 | €727 | €0 | -€727 | -100% |
| Tax-exempt reserves | 132 | €40,506 | €40,506 | = | 0.0% |
| Distributable reserves | 133 | €665,945 | €615,521 | -€50,424 | -7.6% |
| Amounts payable | 17/49 | €148,220 | €124,369 | -€23,851 | -16.1% |
| Amounts payable within one year | 42/48 | €147,832 | €116,490 | -€31,342 | -21.2% |
| Trade debts | 44 | €11,962 | €879 | -€11,084 | -92.7% |
| Suppliers | 440/4 | €11,962 | €879 | -€11,084 | -92.7% |
| Other amounts payable | 47/48 | €135,870 | €115,612 | -€20,258 | -14.9% |
| Accrued charges and deferred income | 492/3 | €387 | €7,878 | +€7,491 | +1,934% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,296 | €116,999 | -€99,298 | -45.9% |
| Other operating charges | 640/8 | €22,364 | €17,831 | -€4,533 | -20.3% |
| Gross operating margin | 9900 | €61,160 | €91,602 | +€30,442 | +49.8% |
| Operating profit (loss) | 9901 | -€177,501 | -€43,227 | +€134,274 | +75.6% |
| Financial income | 75/76B | €6,458 | €0 | -€6,458 | -100.0% |
| Recurring financial income | 75 | €6,458 | €0 | -€6,458 | -100.0% |
| Financial charges | 65/66B | €11,822 | €7,923 | -€3,899 | -33.0% |
| Recurring financial charges | 65 | €11,822 | €7,923 | -€3,899 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | -€182,865 | -€51,151 | +€131,715 | +72.0% |
| Profit (loss) for the period | 9904 | -€182,865 | -€51,151 | +€131,715 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€182,865 | -€51,151 | +€131,715 | +72.0% |
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 16 October 2026 via checked.be.