STEVAN GRONDWERKEN: 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.
STEVAN GRONDWERKEN
Largest movements
- Tangible fixed assets -€12,368
down €12,368 (-3.2%), from €389,954 to €377,586
- Cash +€9,608
up €9,608 (+12.0%), from €80,102 to €89,710
mainly Depreciation (+€12,368) and Trade debts (+€2,347)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€2,491
up €2,491 (+19.1%), from €13,056 to €15,547
- Financial income -€317
down €317 (-60.6%), from €522 to €206
- Depreciation -€239
down €239 (-1.9%), from €12,607 to €12,368
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 | €470,213 | €467,513 | -€2,700 | -0.6% |
| Fixed assets | 21/28 | €389,954 | €377,586 | -€12,368 | -3.2% |
| Tangible fixed assets | 22/27 | €389,954 | €377,586 | -€12,368 | -3.2% |
| Land and buildings | 22 | €389,954 | €377,586 | -€12,368 | -3.2% |
| Current assets | 29/58 | €80,259 | €89,926 | +€9,668 | +12.0% |
| Amounts receivable within one year | 40/41 | €157 | €62 | -€95 | -60.7% |
| Other amounts receivable | 41 | €157 | €62 | -€95 | -60.7% |
| Cash at bank and in hand | 54/58 | €80,102 | €89,710 | +€9,608 | +12.0% |
| Deferred charges and accrued income | 490/1 | - | €155 | +€155 | |
| Total equity and liabilities | 10/49 | €470,213 | €467,513 | -€2,700 | -0.6% |
| Equity | 10/15 | €466,414 | €465,100 | -€1,314 | -0.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €403,914 | €402,600 | -€1,314 | -0.3% |
| Non-distributable reserves | 130/1 | €66,174 | €66,223 | +€50 | +0.1% |
| Legal reserve | 130 | €66,174 | €66,174 | = | 0.0% |
| Other | 1319 | - | €50 | +€50 | |
| Tax-exempt reserves | 132 | €2,033 | €2,033 | = | 0.0% |
| Distributable reserves | 133 | €335,707 | €334,344 | -€1,363 | -0.4% |
| Amounts payable | 17/49 | €3,799 | €2,412 | -€1,387 | -36.5% |
| Amounts payable within one year | 42/48 | €3,799 | €2,412 | -€1,387 | -36.5% |
| Trade debts | 44 | €0 | €2,347 | +€2,347 | |
| Suppliers | 440/4 | €0 | €2,347 | +€2,347 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,799 | €65 | -€3,734 | -98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,607 | €12,368 | -€239 | -1.9% |
| Other operating charges | 640/8 | €4,668 | €4,670 | +€1 | 0.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €13,056 | €15,547 | +€2,491 | +19.1% |
| Operating profit (loss) | 9901 | -€4,219 | -€1,491 | +€2,729 | +64.7% |
| Financial income | 75/76B | €522 | €206 | -€317 | -60.6% |
| Recurring financial income | 75 | €522 | €206 | -€317 | -60.6% |
| Financial charges | 65/66B | €47 | €29 | -€18 | -38.7% |
| Recurring financial charges | 65 | €47 | €29 | -€18 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,743 | -€1,314 | +€2,430 | +64.9% |
| Profit (loss) for the period | 9904 | -€3,743 | -€1,314 | +€2,430 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,743 | -€1,314 | +€2,430 | +64.9% |
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 14 October 2026 via checked.be.