DE GRAEVE DAVID: 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 GRAEVE DAVID
Largest movements
- Cash -€10,389
down €10,389 (-78.4%), from €13,260 to €2,870
mainly Receivables within one year (-€7,970) and Investment in fixed assets (net) (-€3,111)
- Receivables within one year +€7,970
up €7,970 (+21.2%), from €37,616 to €45,587
of which Other amounts receivable: +€9,856
- Tangible fixed assets -€2,517
down €2,517 (-23.5%), from €10,689 to €8,172
of which Other tangible fixed assets: -€3,539
- Reserves -€2,744
down €2,744 (-7.7%), from €35,828 to €33,084
of which Distributable reserves: -€2,744
- Tax, wage and social debts -€1,185
down €1,185 (-17.5%), from €6,756 to €5,570
- Trade debts -€1,124
down €1,124 (-6.1%), from €18,456 to €17,333
- Gross operating margin -€15,011
down €15,011 (-55.1%), from €27,235 to €12,224
- Taxes -€4,866
down €4,866 (-94.1%), from €5,170 to €303
- Staff costs +€2,542
up €2,542 (+75.3%), from €3,375 to €5,917
- Depreciation +€840
up €840 (+17.5%), from €4,788 to €5,628
- Financial charges +€577
up €577 (+43.9%), from €1,316 to €1,893
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 | €73,440 | €68,387 | -€5,053 | -6.9% |
| Fixed assets | 21/28 | €12,284 | €9,767 | -€2,517 | -20.5% |
| Tangible fixed assets | 22/27 | €10,689 | €8,172 | -€2,517 | -23.5% |
| Plant, machinery and equipment | 23 | €155 | €42 | -€113 | -73.1% |
| Furniture and vehicles | 24 | €2,376 | €3,512 | +€1,136 | +47.8% |
| Other tangible fixed assets | 26 | €8,158 | €4,618 | -€3,539 | -43.4% |
| Financial fixed assets | 28 | €1,595 | €1,595 | = | 0.0% |
| Current assets | 29/58 | €61,156 | €58,620 | -€2,536 | -4.1% |
| Stocks and contracts in progress | 3 | €9,308 | €9,508 | +€200 | +2.1% |
| Stocks | 30/36 | €9,308 | €9,508 | +€200 | +2.1% |
| Amounts receivable within one year | 40/41 | €37,616 | €45,587 | +€7,970 | +21.2% |
| Trade receivables | 40 | €24,145 | €22,259 | -€1,886 | -7.8% |
| Other amounts receivable | 41 | €13,472 | €23,328 | +€9,856 | +73.2% |
| Cash at bank and in hand | 54/58 | €13,260 | €2,870 | -€10,389 | -78.4% |
| Deferred charges and accrued income | 490/1 | €972 | €655 | -€317 | -32.6% |
| Total equity and liabilities | 10/49 | €73,440 | €68,387 | -€5,053 | -6.9% |
| Equity | 10/15 | €48,228 | €45,484 | -€2,744 | -5.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €35,828 | €33,084 | -€2,744 | -7.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €33,968 | €31,224 | -€2,744 | -8.1% |
| Amounts payable | 17/49 | €25,212 | €22,903 | -€2,309 | -9.2% |
| Amounts payable within one year | 42/48 | €25,212 | €22,903 | -€2,309 | -9.2% |
| Trade debts | 44 | €18,456 | €17,333 | -€1,124 | -6.1% |
| Suppliers | 440/4 | €18,456 | €17,333 | -€1,124 | -6.1% |
| Taxes, remuneration and social security | 45 | €6,756 | €5,570 | -€1,185 | -17.5% |
| Taxes | 450/3 | €6,756 | €5,570 | -€1,185 | -17.5% |
| Remuneration, social security and pensions | 62 | €3,375 | €5,917 | +€2,542 | +75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,788 | €5,628 | +€840 | +17.5% |
| Other operating charges | 640/8 | €1,119 | €1,297 | +€178 | +15.9% |
| Gross operating margin | 9900 | €27,235 | €12,224 | -€15,011 | -55.1% |
| Operating profit (loss) | 9901 | €17,953 | -€618 | -€18,571 | |
| Financial income | 75/76B | €12 | €71 | +€58 | +478.2% |
| Recurring financial income | 75 | €12 | €71 | +€58 | +478.2% |
| Financial charges | 65/66B | €1,316 | €1,893 | +€577 | +43.9% |
| Recurring financial charges | 65 | €1,316 | €1,893 | +€577 | +43.9% |
| Profit (loss) for the period before taxes | 9903 | €16,650 | -€2,441 | -€19,091 | |
| Income taxes | 67/77 | €5,170 | €303 | -€4,866 | -94.1% |
| Profit (loss) for the period | 9904 | €11,480 | -€2,744 | -€14,224 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,480 | -€2,744 | -€14,224 |
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 11 October 2026 via checked.be.