De Graaf PMI: 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.
De Graaf PMI
Largest movements
- Cash +€29,881
up €29,881 (+59.6%), from €50,143 to €80,024
mainly Net result for the year (+€63,326) and Tax, wage and social debts (+€5,841)
- Receivables after one year +€23,558
up €23,558 (+114%), from €20,609 to €44,167
- Receivables within one year +€18,728
up €18,728 (+38.1%), from €49,188 to €67,916
of which Other amounts receivable: +€10,104
- Tangible fixed assets -€4,981
down €4,981 (-35.4%), from €14,074 to €9,093
of which Furniture and vehicles: -€3,741
- Reserves +€63,326
up €63,326 (+53.4%), from €118,695 to €182,021
- Tax, wage and social debts +€5,841
up €5,841 (+43.3%), from €13,485 to €19,326
- Gross operating margin +€25,631
up €25,631 (+42.6%), from €60,098 to €85,729
- Taxes +€5,298
up €5,298 (+45.8%), from €11,569 to €16,867
- Financial charges -€901
down €901 (-61.4%), from €1,468 to €567
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 | €136,646 | €203,877 | +€67,231 | +49.2% |
| Fixed assets | 21/28 | €14,074 | €9,093 | -€4,981 | -35.4% |
| Tangible fixed assets | 22/27 | €14,074 | €9,093 | -€4,981 | -35.4% |
| Plant, machinery and equipment | 23 | €4,544 | €3,304 | -€1,240 | -27.3% |
| Furniture and vehicles | 24 | €9,530 | €5,789 | -€3,741 | -39.3% |
| Current assets | 29/58 | €122,572 | €194,784 | +€72,212 | +58.9% |
| Amounts receivable after more than one year | 29 | €20,609 | €44,167 | +€23,558 | +114% |
| Other amounts receivable | 291 | €20,609 | €44,167 | +€23,558 | +114% |
| Amounts receivable within one year | 40/41 | €49,188 | €67,916 | +€18,728 | +38.1% |
| Trade receivables | 40 | €35,021 | €43,645 | +€8,624 | +24.6% |
| Other amounts receivable | 41 | €14,168 | €24,272 | +€10,104 | +71.3% |
| Cash at bank and in hand | 54/58 | €50,143 | €80,024 | +€29,881 | +59.6% |
| Deferred charges and accrued income | 490/1 | €2,631 | €2,677 | +€46 | +1.7% |
| Total equity and liabilities | 10/49 | €136,646 | €203,877 | +€67,231 | +49.2% |
| Equity | 10/15 | €119,695 | €183,021 | +€63,326 | +52.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €118,695 | €182,021 | +€63,326 | +53.4% |
| Distributable reserves | 133 | €118,695 | €182,021 | +€63,326 | +53.4% |
| Amounts payable | 17/49 | €16,951 | €20,856 | +€3,905 | +23.0% |
| Amounts payable within one year | 42/48 | €16,951 | €20,856 | +€3,905 | +23.0% |
| Trade debts | 44 | €3,467 | €1,531 | -€1,936 | -55.8% |
| Suppliers | 440/4 | €3,467 | €1,531 | -€1,936 | -55.8% |
| Taxes, remuneration and social security | 45 | €13,485 | €19,326 | +€5,841 | +43.3% |
| Taxes | 450/3 | €13,485 | €19,326 | +€5,841 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,950 | €5,379 | +€429 | +8.7% |
| Other operating charges | 640/8 | €997 | €1,043 | +€46 | +4.6% |
| Gross operating margin | 9900 | €60,098 | €85,729 | +€25,631 | +42.6% |
| Operating profit (loss) | 9901 | €54,151 | €79,307 | +€25,156 | +46.5% |
| Financial income | 75/76B | €878 | €1,453 | +€575 | +65.5% |
| Recurring financial income | 75 | €878 | €1,453 | +€575 | +65.5% |
| Financial charges | 65/66B | €1,468 | €567 | -€901 | -61.4% |
| Recurring financial charges | 65 | €1,468 | €567 | -€901 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €53,561 | €80,193 | +€26,633 | +49.7% |
| Income taxes | 67/77 | €11,569 | €16,867 | +€5,298 | +45.8% |
| Profit (loss) for the period | 9904 | €41,992 | €63,326 | +€21,334 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,992 | €63,326 | +€21,334 | +50.8% |
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 14 October 2026 via checked.be.