PATRICK DE GREVE: what changed
Two fiscal 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.
PATRICK DE GREVE
Largest movements
- Cash +€86,691
up €86,691 (+124.1%), from €69,840 to €156,531
mainly Net result for the year (+€203,166) and Depreciation (+€24,257)
- Current investments -€24,231
down €24,231 (-7.9%), from €307,326 to €283,095
- Tangible fixed assets -€23,612
down €23,612 (-4.7%), from €502,009 to €478,396
of which Land and buildings: -€23,710
- Reserves +€49,211
up €49,211 (+4.1%), from €1.2m to €1.3m
of which Distributable reserves: +€49,211
- Debts after one year -€21,886
down €21,886 (-23.2%), from €94,446 to €72,559
- Current portion of long-term debt -€16,127
down €16,127 (-42.4%), from €38,013 to €21,886
- Financial charges +€12,453
up €12,453, from -€7,886 to €4,567
- Depreciation -€6,055
down €6,055 (-20.0%), from €30,311 to €24,257
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.
Cash bridge derived
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 | €1,381,998 | €1,411,442 | +€29,443 | +2.1% |
| Fixed assets | 21/28 | €620,975 | €597,363 | -€23,612 | -3.8% |
| Tangible fixed assets | 22/27 | €502,009 | €478,396 | -€23,612 | -4.7% |
| Land and buildings | 22 | €497,940 | €474,230 | -€23,710 | -4.8% |
| Furniture and vehicles | 24 | €512 | €1,044 | +€532 | +104.0% |
| Other tangible fixed assets | 26 | €3,557 | €3,123 | -€434 | -12.2% |
| Financial fixed assets | 28 | €118,966 | €118,966 | = | 0.0% |
| Current assets | 29/58 | €761,023 | €814,079 | +€53,056 | +7.0% |
| Amounts receivable within one year | 40/41 | €381,801 | €373,923 | -€7,878 | -2.1% |
| Trade receivables | 40 | €12,251 | €12,194 | -€57 | -0.5% |
| Other amounts receivable | 41 | €369,550 | €361,729 | -€7,821 | -2.1% |
| Current investments | 50/53 | €307,326 | €283,095 | -€24,231 | -7.9% |
| Cash at bank and in hand | 54/58 | €69,840 | €156,531 | +€86,691 | +124.1% |
| Deferred charges and accrued income | 490/1 | €2,057 | €530 | -€1,527 | -74.2% |
| Total equity and liabilities | 10/49 | €1,381,998 | €1,411,442 | +€29,443 | +2.1% |
| Equity | 10/15 | €1,215,326 | €1,264,537 | +€49,211 | +4.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,202,926 | €1,252,137 | +€49,211 | +4.1% |
| Tax-exempt reserves | 132 | €12,444 | €12,444 | = | 0.0% |
| Distributable reserves | 133 | €1,190,482 | €1,239,693 | +€49,211 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €166,672 | €146,904 | -€19,768 | -11.9% |
| Amounts payable after more than one year | 17 | €94,446 | €72,559 | -€21,886 | -23.2% |
| Financial debts | 170/4 | €94,446 | €72,559 | -€21,886 | -23.2% |
| Amounts payable within one year | 42/48 | €71,586 | €72,768 | +€1,182 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €38,013 | €21,886 | -€16,127 | -42.4% |
| Trade debts | 44 | €747 | €582 | -€165 | -22.1% |
| Suppliers | 440/4 | €747 | €582 | -€165 | -22.1% |
| Taxes, remuneration and social security | 45 | €32,826 | €40,855 | +€8,029 | +24.5% |
| Taxes | 450/3 | €32,826 | €40,855 | +€8,029 | +24.5% |
| Other amounts payable | 47/48 | €0 | €9,445 | +€9,445 | |
| Accrued charges and deferred income | 492/3 | €640 | €1,577 | +€937 | +146.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,311 | €24,257 | -€6,055 | -20.0% |
| Other operating charges | 640/8 | €3,041 | €3,200 | +€159 | +5.2% |
| Non-recurring operating charges | 66A | - | €512 | +€512 | |
| Gross operating margin | 9900 | €314,520 | €315,713 | +€1,193 | +0.4% |
| Operating profit (loss) | 9901 | €281,168 | €287,744 | +€6,577 | +2.3% |
| Financial income | 75/76B | €8,798 | €9,709 | +€911 | +10.4% |
| Recurring financial income | 75 | €8,798 | €9,709 | +€911 | +10.4% |
| Financial charges | 65/66B | -€7,886 | €4,567 | +€12,453 | |
| Recurring financial charges | 65 | -€7,886 | €4,567 | +€12,453 | |
| Profit (loss) for the period before taxes | 9903 | €297,851 | €292,886 | -€4,965 | -1.7% |
| Income taxes | 67/77 | €87,785 | €89,720 | +€1,935 | +2.2% |
| Profit (loss) for the period | 9904 | €210,066 | €203,166 | -€6,900 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €210,066 | €203,166 | -€6,900 | -3.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.