DE GRABBELTON: 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.
DE GRABBELTON
Largest movements
- Tangible fixed assets +€92,080
up €92,080 (+47.5%), from €193,784 to €285,863
of which Land and buildings: +€75,431
- Cash -€14,299
down €14,299 (-49.8%), from €28,700 to €14,400
mainly Investment in fixed assets (net) (-€126,810) and Trade debts (-€64,723)
- Stocks and contracts +€13,903
up €13,903 (+1.9%), from €716,064 to €729,966
- Reserves +€85,169
up €85,169 (+282.4%), from €30,162 to €115,331
- Trade debts -€64,723
down €64,723 (-67.7%), from €95,646 to €30,924
- Debts after one year +€58,097
up €58,097 (+336.0%), from €17,291 to €75,389
- Current portion of long-term debt +€17,034
up €17,034 (+56.9%), from €29,926 to €46,960
- Gross operating margin -€38,285
down €38,285 (-13.2%), from €289,609 to €251,324
- Financial income +€17,170
up €17,170 (+1562.3%), from €1,099 to €18,269
of which Non-recurring financial income: +€17,200
- Depreciation +€9,525
up €9,525 (+37.8%), from €25,205 to €34,730
- Taxes +€3,750
up €3,750 (+12.3%), from €30,376 to €34,127
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 | €950,382 | €1,050,830 | +€100,448 | +10.6% |
| Fixed assets | 21/28 | €193,784 | €285,863 | +€92,080 | +47.5% |
| Tangible fixed assets | 22/27 | €193,784 | €285,863 | +€92,080 | +47.5% |
| Land and buildings | 22 | €168,406 | €243,837 | +€75,431 | +44.8% |
| Plant, machinery and equipment | 23 | €6,394 | €4,563 | -€1,831 | -28.6% |
| Furniture and vehicles | 24 | €18,983 | €37,464 | +€18,480 | +97.3% |
| Current assets | 29/58 | €756,598 | €764,966 | +€8,368 | +1.1% |
| Stocks and contracts in progress | 3 | €716,064 | €729,966 | +€13,903 | +1.9% |
| Stocks | 30/36 | €716,064 | €729,966 | +€13,903 | +1.9% |
| Amounts receivable within one year | 40/41 | €6,722 | €14,246 | +€7,524 | +111.9% |
| Trade receivables | 40 | €2,099 | €8,549 | +€6,451 | +307.4% |
| Other amounts receivable | 41 | €4,624 | €5,697 | +€1,073 | +23.2% |
| Cash at bank and in hand | 54/58 | €28,700 | €14,400 | -€14,299 | -49.8% |
| Deferred charges and accrued income | 490/1 | €5,112 | €6,353 | +€1,241 | +24.3% |
| Total equity and liabilities | 10/49 | €950,382 | €1,050,830 | +€100,448 | +10.6% |
| Equity | 10/15 | €711,318 | €796,486 | +€85,169 | +12.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €30,162 | €115,331 | +€85,169 | +282.4% |
| Distributable reserves | 133 | €30,162 | €115,331 | +€85,169 | +282.4% |
| Profit (loss) carried forward | 14 | €662,564 | €662,564 | = | 0.0% |
| Amounts payable | 17/49 | €239,064 | €254,343 | +€15,279 | +6.4% |
| Amounts payable after more than one year | 17 | €17,291 | €75,389 | +€58,097 | +336.0% |
| Financial debts | 170/4 | €17,291 | €75,389 | +€58,097 | +336.0% |
| Amounts payable within one year | 42/48 | €221,773 | €178,955 | -€42,818 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €29,926 | €46,960 | +€17,034 | +56.9% |
| Trade debts | 44 | €95,646 | €30,924 | -€64,723 | -67.7% |
| Suppliers | 440/4 | €95,646 | €30,924 | -€64,723 | -67.7% |
| Taxes, remuneration and social security | 45 | €21,927 | €31,081 | +€9,154 | +41.7% |
| Taxes | 450/3 | €9,497 | €14,939 | +€5,442 | +57.3% |
| Remuneration and social security | 454/9 | €12,430 | €16,142 | +€3,712 | +29.9% |
| Other amounts payable | 47/48 | €74,273 | €69,991 | -€4,283 | -5.8% |
| Remuneration, social security and pensions | 62 | €98,828 | €97,784 | -€1,044 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,205 | €34,730 | +€9,525 | +37.8% |
| Other operating charges | 640/8 | €6,876 | €7,016 | +€140 | +2.0% |
| Gross operating margin | 9900 | €289,609 | €251,324 | -€38,285 | -13.2% |
| Operating profit (loss) | 9901 | €158,699 | €111,794 | -€46,906 | -29.6% |
| Financial income | 75/76B | €1,099 | €18,269 | +€17,170 | +1562.3% |
| Recurring financial income | 75 | €1,099 | €1,069 | -€30 | -2.7% |
| Non-recurring financial income | 76B | - | €17,200 | +€17,200 | |
| Financial charges | 65/66B | €10,705 | €10,767 | +€62 | +0.6% |
| Recurring financial charges | 65 | €10,705 | €10,767 | +€62 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €149,093 | €119,295 | -€29,798 | -20.0% |
| Income taxes | 67/77 | €30,376 | €34,127 | +€3,750 | +12.3% |
| Profit (loss) for the period | 9904 | €118,717 | €85,169 | -€33,549 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,717 | €85,169 | -€33,549 | -28.3% |
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 8 October 2026 via checked.be.