New Grey Quality: 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 Grey Quality
Largest movements
- Cash -€286,056
down €286,056 (-93.4%), from €306,240 to €20,185
- Receivables within one year +€30,613
up €30,613 (+183%), from €16,719 to €47,332
of which Trade receivables: +€18,692
- Reserves -€193,341
down €193,341 (-44.0%), from €439,026 to €245,685
of which Distributable reserves: -€144,981
- Contributions -€67,580
no longer reported in 2025 (was €67,580)
- Trade debts -€6,674
down €6,674 (-100%), from €6,674 to €0
- Gross operating margin +€48,004
up €48,004 (+112%), from €42,888 to €90,892
- Taxes +€9,598
up €9,598 (+79.9%), from €12,005 to €21,603
- Financial income +€3,299
up €3,299 (+459%), from €719 to €4,017
- Depreciation -€1,051
down €1,051 (-100%), from €1,051 to €0
- Other operating charges +€1,033
up €1,033 (+203%), from €510 to €1,542
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €522,334 | €263,140 | -€259,194 | -49.6% |
| Fixed assets | 21/28 | €17,022 | €17,701 | +€679 | +4.0% |
| Tangible fixed assets | 22/27 | €2,022 | €2,701 | +€679 | +33.6% |
| Land and buildings | 22 | €1,103 | €735 | -€368 | -33.3% |
| Furniture and vehicles | 24 | €919 | €1,966 | +€1,047 | +114% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €505,312 | €245,440 | -€259,873 | -51.4% |
| Amounts receivable within one year | 40/41 | €16,719 | €47,332 | +€30,613 | +183% |
| Trade receivables | 40 | €15,780 | €34,471 | +€18,692 | +118% |
| Other amounts receivable | 41 | €939 | €12,861 | +€11,922 | +1,269% |
| Current investments | 50/53 | €180,153 | €175,723 | -€4,430 | -2.5% |
| Cash at bank and in hand | 54/58 | €306,240 | €20,185 | -€286,056 | -93.4% |
| Deferred charges and accrued income | 490/1 | €2,200 | €2,200 | = | 0.0% |
| Total equity and liabilities | 10/49 | €522,334 | €263,140 | -€259,194 | -49.6% |
| Equity | 10/15 | €506,615 | €248,634 | -€257,980 | -50.9% |
| Contributions | 10/11 | €67,580 | - | -€67,580 | |
| Reserves | 13 | €439,026 | €245,685 | -€193,341 | -44.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €46,500 | - | -€46,500 | |
| Distributable reserves | 133 | €390,666 | €245,685 | -€144,981 | -37.1% |
| Profit (loss) carried forward | 14 | €9 | €2,949 | +€2,941 | +33,957% |
| Amounts payable | 17/49 | €15,719 | €14,506 | -€1,213 | -7.7% |
| Amounts payable within one year | 42/48 | €15,719 | €14,506 | -€1,213 | -7.7% |
| Financial debts | 43 | €690 | €0 | -€690 | -100% |
| Credit institutions | 430/8 | €690 | €0 | -€690 | -100% |
| Trade debts | 44 | €6,674 | €0 | -€6,674 | -100% |
| Suppliers | 440/4 | €6,674 | €0 | -€6,674 | -100% |
| Taxes, remuneration and social security | 45 | €8,356 | €11,538 | +€3,183 | +38.1% |
| Taxes | 450/3 | €8,356 | €10,038 | +€1,683 | +20.1% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €0 | €2,968 | +€2,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,051 | €0 | -€1,051 | -100% |
| Other operating charges | 640/8 | €510 | €1,542 | +€1,033 | +203% |
| Gross operating margin | 9900 | €42,888 | €90,892 | +€48,004 | +112% |
| Operating profit (loss) | 9901 | €41,327 | €89,349 | +€48,022 | +116% |
| Financial income | 75/76B | €719 | €4,017 | +€3,299 | +459% |
| Recurring financial income | 75 | €719 | €4,017 | +€3,299 | +459% |
| Financial charges | 65/66B | €155 | €239 | +€84 | +54.5% |
| Recurring financial charges | 65 | €155 | €239 | +€84 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | €41,891 | €93,127 | +€51,236 | +122% |
| Income taxes | 67/77 | €12,005 | €21,603 | +€9,598 | +79.9% |
| Profit (loss) for the period | 9904 | €29,886 | €71,524 | +€41,638 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €29,886 | €71,524 | +€41,638 | +139% |
Source: filed annual accounts (NBB), financial years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.