MAISON DE GREEF: 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.
What changed
MAISON DE GREEF
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.3m-€199,913
Equity
€7.6m
2024 · €7.2m+€441,317
Cash
€2.0m
2024 · €2.1m-€63,796
Balance sheet total
€10.7m
2024 · €10.5m+€208,318
Largest movements
Assets
- Stocks and contracts -€411,885
down €411,885 (-6.7%), from €6.1m to €5.7m
- Tangible fixed assets +€395,823
up €395,823 (+21.6%), from €1.8m to €2.2m
of which Other tangible fixed assets: +€450,164
- Receivables within one year +€219,964
up €219,964 (+53.9%), from €408,267 to €628,231
of which Trade receivables: +€188,087
Equity and liabilities
- Profit (loss) carried forward +€447,649
up €447,649 (+6.6%), from €6.7m to €7.2m
- Other debts -€310,828
down €310,828 (-76.3%), from €407,438 to €96,610
Income statement
- Turnover +€962,503
up €962,503 (+7.9%), from €12.1m to €13.1m
- Goods and materials +€701,526
up €701,526 (+9.5%), from €7.4m to €8.1m
of which Change in stocks: decrease (increase): +€641,408
- Services and other goods +€440,035
up €440,035 (+26.2%), from €1.7m to €2.1m
- Write-downs -€197,659
down €197,659, from €107,117 to -€90,542
- Other operating charges +€179,779
up €179,779 (+448%), from €40,110 to €219,889
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.
Result 2024
€1.3m
Turnover
+€962,503
Other operating income
-€1,004
Goods and materials
-€701,526
Services and other goods
-€440,035
Staff costs
-€11,498
Depreciation
-€58,824
Write-downs
+€197,659
Other operating charges
-€179,779
Other operating items
+€27,255
Financial income
+€24,647
Financial charges
-€68,586
Taxes
+€49,274
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.3m
Investment
-€689,615
Financing
-€683,305
Cash 2024
€2.1m
From operations (derived)
+€1.3m
Net result for the year
+€1.1m
Depreciation
+€234,893
Stocks and contracts
+€411,885
Receivables within one year
-€219,964
Deferred charges and accrued income
-€9,312
Provisions
-€2,111
Trade debts
-€10,178
Tax, wage and social debts
-€12,433
Advances received
+€84,503
Other debts
-€310,828
Accrued charges and deferred income
-€4,980
Investment (derived)
-€689,615
Investment in fixed assets (net)
-€689,615
Financing
-€683,305
Debts after one year
+€15,304
Current portion of long-term debt
+€7,723
Contributions, distributions and other
-€706,332
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,497,485 | €10,705,802 | +€208,318 | +2.0% |
| Fixed assets | 21/28 | €1,836,130 | €2,290,852 | +€454,722 | +24.8% |
| Intangible fixed assets | 21 | €0 | €18,326 | +€18,326 | |
| Tangible fixed assets | 22/27 | €1,835,709 | €2,231,532 | +€395,823 | +21.6% |
| Land and buildings | 22 | €257,017 | €270,702 | +€13,685 | +5.3% |
| Plant, machinery and equipment | 23 | €803,458 | €700,813 | -€102,645 | -12.8% |
| Furniture and vehicles | 24 | €303,875 | €338,494 | +€34,619 | +11.4% |
| Other tangible fixed assets | 26 | €471,358 | €921,522 | +€450,164 | +95.5% |
| Financial fixed assets | 28 | €421 | €40,994 | +€40,573 | +9,634% |
| Other financial fixed assets | 284/8 | €421 | €40,994 | +€40,573 | +9,634% |
| Amounts receivable and cash guarantees | 285/8 | €421 | €40,994 | +€40,573 | +9,634% |
| Current assets | 29/58 | €8,661,355 | €8,414,951 | -€246,404 | -2.8% |
| Stocks and contracts in progress | 3 | €6,145,774 | €5,733,889 | -€411,885 | -6.7% |
| Stocks | 30/36 | €6,145,774 | €5,733,889 | -€411,885 | -6.7% |
| Goods purchased for resale | 34 | €6,114,353 | €5,733,889 | -€380,464 | -6.2% |
| Advance payments | 36 | €31,421 | €0 | -€31,421 | -100% |
| Amounts receivable within one year | 40/41 | €408,267 | €628,231 | +€219,964 | +53.9% |
| Trade receivables | 40 | €377,920 | €566,008 | +€188,087 | +49.8% |
| Other amounts receivable | 41 | €30,347 | €62,223 | +€31,876 | +105% |
| Cash at bank and in hand | 54/58 | €2,076,452 | €2,012,656 | -€63,796 | -3.1% |
| Deferred charges and accrued income | 490/1 | €30,862 | €40,175 | +€9,312 | +30.2% |
| Total equity and liabilities | 10/49 | €10,497,485 | €10,705,802 | +€208,318 | +2.0% |
| Equity | 10/15 | €7,189,356 | €7,630,673 | +€441,317 | +6.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €139,811 | €139,811 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,271 | €23,271 | = | 0.0% |
| Distributable reserves | 133 | €79,355 | €79,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,749,700 | €7,197,349 | +€447,649 | +6.6% |
| Investment grants | 15 | €49,846 | €43,514 | -€6,332 | -12.7% |
| Provisions and deferred taxes | 16 | €16,615 | €14,505 | -€2,111 | -12.7% |
| Deferred taxes | 168 | €16,615 | €14,505 | -€2,111 | -12.7% |
| Amounts payable | 17/49 | €3,291,513 | €3,060,625 | -€230,889 | -7.0% |
| Amounts payable after more than one year | 17 | €1,488,802 | €1,504,105 | +€15,304 | +1.0% |
| Financial debts | 170/4 | €1,488,802 | €1,504,105 | +€15,304 | +1.0% |
| Credit institutions | 173 | €1,488,802 | €1,504,105 | +€15,304 | +1.0% |
| Amounts payable within one year | 42/48 | €1,791,212 | €1,549,999 | -€241,213 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €239,772 | €247,494 | +€7,723 | +3.2% |
| Trade debts | 44 | €699,932 | €689,754 | -€10,178 | -1.5% |
| Suppliers | 440/4 | €699,932 | €689,754 | -€10,178 | -1.5% |
| Advances received on contracts in progress | 46 | €206,163 | €290,666 | +€84,503 | +41.0% |
| Taxes, remuneration and social security | 45 | €237,908 | €225,475 | -€12,433 | -5.2% |
| Taxes | 450/3 | €127,603 | €121,221 | -€6,382 | -5.0% |
| Remuneration and social security | 454/9 | €110,305 | €104,254 | -€6,051 | -5.5% |
| Other amounts payable | 47/48 | €407,438 | €96,610 | -€310,828 | -76.3% |
| Accrued charges and deferred income | 492/3 | €11,500 | €6,520 | -€4,980 | -43.3% |
| Operating income | 70/76A | €12,162,272 | €13,130,875 | +€968,603 | +8.0% |
| Turnover | 70 | €12,117,968 | €13,080,471 | +€962,503 | +7.9% |
| Other operating income | 74 | €44,305 | €43,301 | -€1,004 | -2.3% |
| Non-recurring operating income | 76A | €0 | €7,103 | +€7,103 | |
| Operating charges | 60/66A | €10,230,151 | €11,404,001 | +€1.2m | +11.5% |
| Goods for resale, raw materials and consumables | 60 | €7,412,285 | €8,113,811 | +€701,526 | +9.5% |
| Purchases | 600/8 | €7,780,691 | €7,840,809 | +€60,118 | +0.8% |
| Change in stocks: decrease (increase) | 609 | -€368,406 | €273,002 | +€641,408 | |
| Services and other goods | 61 | €1,680,324 | €2,120,359 | +€440,035 | +26.2% |
| Remuneration, social security and pensions | 62 | €783,626 | €795,124 | +€11,498 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,069 | €234,893 | +€58,824 | +33.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €107,117 | -€90,542 | -€197,659 | |
| Other operating charges | 640/8 | €40,110 | €219,889 | +€179,779 | +448% |
| Non-recurring operating charges | 66A | €30,619 | €10,467 | -€20,151 | -65.8% |
| Operating profit (loss) | 9901 | €1,932,122 | €1,726,874 | -€205,248 | -10.6% |
| Financial income | 75/76B | €29,477 | €54,124 | +€24,647 | +83.6% |
| Recurring financial income | 75 | €29,477 | €54,124 | +€24,647 | +83.6% |
| Income from current assets | 751 | - | €25 | +€25 | |
| Other financial income | 752/9 | €29,477 | €54,099 | +€24,622 | +83.5% |
| Financial charges | 65/66B | €143,731 | €212,318 | +€68,586 | +47.7% |
| Recurring financial charges | 65 | €143,731 | €212,318 | +€68,586 | +47.7% |
| Debt charges | 650 | €44,609 | €58,821 | +€14,213 | +31.9% |
| Other financial charges | 652/9 | €99,123 | €153,496 | +€54,374 | +54.9% |
| Profit (loss) for the period before taxes | 9903 | €1,817,867 | €1,568,680 | -€249,187 | -13.7% |
| Transfer from deferred taxes | 780 | €2,111 | €2,111 | -€0 | 0.0% |
| Income taxes | 67/77 | €472,416 | €423,142 | -€49,274 | -10.4% |
| Taxes | 670/3 | €472,416 | €423,142 | -€49,274 | -10.4% |
| Profit (loss) for the period | 9904 | €1,347,562 | €1,147,649 | -€199,913 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,347,562 | €1,147,649 | -€199,913 | -14.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.