NEW GRENELLE: 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.
NEW GRENELLE
Largest movements
- Cash +€199,172
up €199,172 (+70.9%), from €280,833 to €480,005
mainly Net result for the year (+€172,468) and Other debts (+€170,047)
- Current investments +€30,000
new in 2025: €30,000
- Tangible fixed assets -€20,939
down €20,939 (-21.9%), from €95,810 to €74,871
- Intangible fixed assets -€13,750
no longer reported in 2025 (was €13,750)
- Stocks and contracts -€9,750
down €9,750 (-7.0%), from €140,250 to €130,500
- Other debts +€170,047
up €170,047 (+1,173%), from €14,499 to €184,546
- Tax, wage and social debts +€54,316
up €54,316 (+110%), from €49,200 to €103,516
of which Taxes: +€54,141
- Reserves -€23,378
down €23,378 (-5.3%), from €441,860 to €418,482
of which Distributable reserves: -€23,378
- Trade debts -€10,706
down €10,706 (-73.6%), from €14,547 to €3,841
- Gross operating margin +€70,338
up €70,338 (+33.0%), from €213,428 to €283,766
- Taxes +€19,117
up €19,117 (+54.7%), from €34,940 to €54,057
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 | €542,860 | €728,995 | +€186,135 | +34.3% |
| Fixed assets | 21/28 | €109,560 | €74,871 | -€34,689 | -31.7% |
| Intangible fixed assets | 21 | €13,750 | - | -€13,750 | |
| Tangible fixed assets | 22/27 | €95,810 | €74,871 | -€20,939 | -21.9% |
| Land and buildings | 22 | €95,810 | €74,871 | -€20,939 | -21.9% |
| Current assets | 29/58 | €433,300 | €654,124 | +€220,824 | +51.0% |
| Stocks and contracts in progress | 3 | €140,250 | €130,500 | -€9,750 | -7.0% |
| Stocks | 30/36 | €140,250 | €130,500 | -€9,750 | -7.0% |
| Amounts receivable within one year | 40/41 | €9,460 | €10,862 | +€1,402 | +14.8% |
| Trade receivables | 40 | €460 | €2,836 | +€2,376 | +517% |
| Other amounts receivable | 41 | €9,000 | €8,026 | -€974 | -10.8% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €280,833 | €480,005 | +€199,172 | +70.9% |
| Deferred charges and accrued income | 490/1 | €2,757 | €2,757 | = | 0.0% |
| Total equity and liabilities | 10/49 | €542,860 | €728,995 | +€186,135 | +34.3% |
| Equity | 10/15 | €464,614 | €437,082 | -€27,532 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €441,860 | €418,482 | -€23,378 | -5.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €440,000 | €416,622 | -€23,378 | -5.3% |
| Profit (loss) carried forward | 14 | €4,154 | - | -€4,154 | |
| Amounts payable | 17/49 | €78,246 | €291,913 | +€213,667 | +273% |
| Amounts payable within one year | 42/48 | €78,246 | €291,913 | +€213,667 | +273% |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €14,547 | €3,841 | -€10,706 | -73.6% |
| Suppliers | 440/4 | €14,547 | €3,841 | -€10,706 | -73.6% |
| Taxes, remuneration and social security | 45 | €49,200 | €103,516 | +€54,316 | +110% |
| Taxes | 450/3 | €42,984 | €97,125 | +€54,141 | +126% |
| Remuneration and social security | 454/9 | €6,216 | €6,391 | +€175 | +2.8% |
| Other amounts payable | 47/48 | €14,499 | €184,546 | +€170,047 | +1,173% |
| Remuneration, social security and pensions | 62 | €28,482 | €29,765 | +€1,283 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,954 | €34,689 | -€265 | -0.8% |
| Other operating charges | 640/8 | €4,071 | €4,294 | +€223 | +5.5% |
| Gross operating margin | 9900 | €213,428 | €283,766 | +€70,338 | +33.0% |
| Operating profit (loss) | 9901 | €145,921 | €215,018 | +€69,097 | +47.4% |
| Financial income | 75/76B | €13,043 | €14,746 | +€1,703 | +13.1% |
| Recurring financial income | 75 | €13,043 | €14,746 | +€1,703 | +13.1% |
| Financial charges | 65/66B | €3,416 | €3,239 | -€177 | -5.2% |
| Recurring financial charges | 65 | €3,416 | €3,239 | -€177 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €155,548 | €226,525 | +€70,977 | +45.6% |
| Income taxes | 67/77 | €34,940 | €54,057 | +€19,117 | +54.7% |
| Profit (loss) for the period | 9904 | €120,608 | €172,468 | +€51,860 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,608 | €172,468 | +€51,860 | +43.0% |
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 28 October 2026 via checked.be.