DE GRAANHARP: 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 GRAANHARP
Largest movements
- Tangible fixed assets +€803,089
up €803,089 (+50.4%), from €1.6m to €2.4m
of which Assets under construction and advance payments: +€881,692
- Debts after one year +€742,825
up €742,825 (+118%), from €630,040 to €1.4m
- Trade debts +€44,714
up €44,714 (+3,360%), from €1,331 to €46,045
- Financial charges +€7,421
up €7,421 (+16.3%), from €45,460 to €52,881
of which Financial charges: +€19,329
- Gross operating margin -€6,519
down €6,519 (-4.0%), from €162,376 to €155,857
- Taxes -€4,189
down €4,189 (-93.7%), from €4,473 to €284
- Other operating charges +€3,625
up €3,625 (+20.6%), from €17,625 to €21,250
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 | €1,654,149 | €2,459,943 | +€805,795 | +48.7% |
| Fixed assets | 21/28 | €1,593,538 | €2,396,627 | +€803,089 | +50.4% |
| Tangible fixed assets | 22/27 | €1,593,538 | €2,396,627 | +€803,089 | +50.4% |
| Land and buildings | 22 | €882,541 | €847,299 | -€35,242 | -4.0% |
| Plant, machinery and equipment | 23 | €280,221 | €236,860 | -€43,362 | -15.5% |
| Assets under construction and advance payments | 27 | €430,776 | €1,312,469 | +€881,692 | +205% |
| Current assets | 29/58 | €60,610 | €63,316 | +€2,706 | +4.5% |
| Amounts receivable within one year | 40/41 | €16,527 | €16,527 | = | 0.0% |
| Other amounts receivable | 41 | €16,527 | €16,527 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,618 | €31,507 | +€6,888 | +28.0% |
| Deferred charges and accrued income | 490/1 | €19,465 | €15,283 | -€4,182 | -21.5% |
| Total equity and liabilities | 10/49 | €1,654,149 | €2,459,943 | +€805,795 | +48.7% |
| Equity | 10/15 | €635,702 | €638,543 | +€2,840 | +0.4% |
| Contributions | 10/11 | €433,814 | €433,814 | = | 0.0% |
| Reserves | 13 | €201,889 | €204,729 | +€2,840 | +1.4% |
| Distributable reserves | 133 | €201,889 | €204,729 | +€2,840 | +1.4% |
| Amounts payable | 17/49 | €1,018,446 | €1,821,401 | +€802,954 | +78.8% |
| Amounts payable after more than one year | 17 | €630,040 | €1,372,865 | +€742,825 | +118% |
| Financial debts | 170/4 | €630,040 | €1,372,865 | +€742,825 | +118% |
| Amounts payable within one year | 42/48 | €360,033 | €416,290 | +€56,257 | +15.6% |
| Trade debts | 44 | €1,331 | €46,045 | +€44,714 | +3,360% |
| Suppliers | 440/4 | €1,331 | €46,045 | +€44,714 | +3,360% |
| Taxes, remuneration and social security | 45 | €11,935 | €9,950 | -€1,985 | -16.6% |
| Taxes | 450/3 | €11,935 | €9,950 | -€1,985 | -16.6% |
| Other amounts payable | 47/48 | €346,767 | €360,295 | +€13,528 | +3.9% |
| Accrued charges and deferred income | 492/3 | €28,374 | €32,246 | +€3,872 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,051 | €78,604 | -€1,447 | -1.8% |
| Other operating charges | 640/8 | €17,625 | €21,250 | +€3,625 | +20.6% |
| Gross operating margin | 9900 | €162,376 | €155,857 | -€6,519 | -4.0% |
| Operating profit (loss) | 9901 | €64,700 | €56,003 | -€8,697 | -13.4% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €45,460 | €52,881 | +€7,421 | +16.3% |
| Recurring financial charges | 65 | €33,553 | €52,881 | +€19,329 | +57.6% |
| Non-recurring financial charges | 66B | €11,908 | - | -€11,908 | |
| Profit (loss) for the period before taxes | 9903 | €19,240 | €3,124 | -€16,116 | -83.8% |
| Income taxes | 67/77 | €4,473 | €284 | -€4,189 | -93.7% |
| Profit (loss) for the period | 9904 | €14,767 | €2,840 | -€11,926 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,767 | €2,840 | -€11,926 | -80.8% |
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 1 November 2026 via checked.be.