CAROLINE GRISARD: 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.
CAROLINE GRISARD
Largest movements
- Cash +€179,703
new in 2025: €179,703
mainly Current investments (+€176,676) and Other debts (+€129,147)
- Current investments -€176,676
no longer reported in 2025 (was €176,676)
- Receivables within one year +€13,963
up €13,963 (+525%), from €2,661 to €16,624
of which Trade receivables: +€9,063
- Tangible fixed assets -€3,991
down €3,991 (-52.4%), from €7,620 to €3,629
of which Furniture and vehicles: -€2,409
- Other debts +€129,147
up €129,147 (+287%), from €45,000 to €174,147
- Profit (loss) carried forward -€115,375
down €115,375 (-92.2%), from €125,081 to €9,706
- Trade debts -€3,090
down €3,090 (-71.0%), from €4,351 to €1,261
- Tax, wage and social debts +€2,980
up €2,980 (+39.3%), from €7,580 to €10,560
of which Taxes: +€2,002
- Gross operating margin +€17,565
up €17,565 (+17.9%), from €98,303 to €115,869
- Staff costs -€8,215
no longer reported in 2025 (was €8,215)
- Taxes +€7,192
up €7,192 (+41.7%), from €17,247 to €24,439
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 | €187,012 | €200,674 | +€13,662 | +7.3% |
| Fixed assets | 21/28 | €7,675 | €3,684 | -€3,991 | -52.0% |
| Tangible fixed assets | 22/27 | €7,620 | €3,629 | -€3,991 | -52.4% |
| Plant, machinery and equipment | 23 | €4,144 | €2,562 | -€1,582 | -38.2% |
| Furniture and vehicles | 24 | €3,475 | €1,067 | -€2,409 | -69.3% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €179,337 | €196,990 | +€17,652 | +9.8% |
| Amounts receivable within one year | 40/41 | €2,661 | €16,624 | +€13,963 | +525% |
| Trade receivables | 40 | - | €9,063 | +€9,063 | |
| Other amounts receivable | 41 | €2,661 | €7,561 | +€4,900 | +184% |
| Current investments | 50/53 | €176,676 | - | -€176,676 | |
| Cash at bank and in hand | 54/58 | - | €179,703 | +€179,703 | |
| Deferred charges and accrued income | 490/1 | - | €662 | +€662 | |
| Total equity and liabilities | 10/49 | €187,012 | €200,674 | +€13,662 | +7.3% |
| Equity | 10/15 | €130,081 | €14,706 | -€115,375 | -88.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | - | -€5,000 | |
| Issued capital | 100 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €125,081 | €9,706 | -€115,375 | -92.2% |
| Amounts payable | 17/49 | €56,931 | €185,968 | +€129,037 | +227% |
| Amounts payable within one year | 42/48 | €56,931 | €185,968 | +€129,037 | +227% |
| Trade debts | 44 | €4,351 | €1,261 | -€3,090 | -71.0% |
| Suppliers | 440/4 | €4,351 | €1,261 | -€3,090 | -71.0% |
| Taxes, remuneration and social security | 45 | €7,580 | €10,560 | +€2,980 | +39.3% |
| Taxes | 450/3 | €7,580 | €9,582 | +€2,002 | +26.4% |
| Remuneration and social security | 454/9 | - | €978 | +€978 | |
| Other amounts payable | 47/48 | €45,000 | €174,147 | +€129,147 | +287% |
| Remuneration, social security and pensions | 62 | €8,215 | - | -€8,215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,628 | €3,621 | -€8 | -0.2% |
| Other operating charges | 640/8 | €1,380 | €949 | -€431 | -31.2% |
| Non-recurring operating charges | 66A | - | €370 | +€370 | |
| Gross operating margin | 9900 | €98,303 | €115,869 | +€17,565 | +17.9% |
| Operating profit (loss) | 9901 | €85,080 | €110,929 | +€25,849 | +30.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €2,271 | €1,865 | -€405 | -17.9% |
| Recurring financial charges | 65 | €2,271 | €1,865 | -€405 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €82,809 | €109,064 | +€26,254 | +31.7% |
| Income taxes | 67/77 | €17,247 | €24,439 | +€7,192 | +41.7% |
| Profit (loss) for the period | 9904 | €65,562 | €84,625 | +€19,062 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,562 | €84,625 | +€19,062 | +29.1% |
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 27 October 2026 via checked.be.