DE GRANDE: 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 GRANDE
Largest movements
- Stocks and contracts -€704,830
down €704,830 (-9.5%), from €7.4m to €6.7m
- Tangible fixed assets -€204,174
down €204,174 (-78.0%), from €261,613 to €57,439
of which Land and buildings: -€190,000
- Reserves -€586,481
down €586,481 (-32.0%), from €1.8m to €1.2m
of which Distributable reserves: -€586,481
- Short-term financial debts -€391,177
no longer reported in 2025 (was €391,177)
- Advances received +€265,003
new in 2025: €265,003
- Other debts -€226,619
down €226,619 (-5.2%), from €4.4m to €4.2m
- Accrued charges and deferred income +€90,553
up €90,553 (+100.6%), from €90,000 to €180,553
- Write-downs +€563,460
no longer reported in 2025 (was -€563,460)
- Financial charges +€177,192
up €177,192 (+12090.9%), from €1,466 to €178,658
of which Non-recurring financial charges: +€155,231
- Gross operating margin -€129,179
down €129,179 (-158.9%), from -€81,272 to -€210,451
- Other operating charges -€5,825
down €5,825 (-64.8%), from €8,995 to €3,170
- Staff costs -€2,681
down €2,681 (-1.5%), from €184,565 to €181,885
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 | €7,864,632 | €6,980,582 | -€884,051 | -11.2% |
| Fixed assets | 21/28 | €264,232 | €60,058 | -€204,174 | -77.3% |
| Tangible fixed assets | 22/27 | €261,613 | €57,439 | -€204,174 | -78.0% |
| Land and buildings | 22 | €190,000 | - | -€190,000 | |
| Plant, machinery and equipment | 23 | €67,223 | €55,839 | -€11,385 | -16.9% |
| Furniture and vehicles | 24 | €4,389 | €1,600 | -€2,789 | -63.5% |
| Financial fixed assets | 28 | €2,619 | €2,619 | = | 0.0% |
| Current assets | 29/58 | €7,600,401 | €6,920,524 | -€679,877 | -8.9% |
| Amounts receivable after more than one year | 29 | €5,000 | €12,990 | +€7,990 | +159.8% |
| Other amounts receivable | 291 | €5,000 | €12,990 | +€7,990 | +159.8% |
| Stocks and contracts in progress | 3 | €7,419,812 | €6,714,981 | -€704,830 | -9.5% |
| Stocks | 30/36 | €7,419,812 | €6,714,981 | -€704,830 | -9.5% |
| Amounts receivable within one year | 40/41 | €144,672 | €155,600 | +€10,928 | +7.6% |
| Trade receivables | 40 | €101,236 | €155,600 | +€54,363 | +53.7% |
| Other amounts receivable | 41 | €43,436 | - | -€43,436 | |
| Cash at bank and in hand | 54/58 | €19,341 | €24,408 | +€5,067 | +26.2% |
| Deferred charges and accrued income | 490/1 | €11,576 | €12,545 | +€969 | +8.4% |
| Total equity and liabilities | 10/49 | €7,864,632 | €6,980,582 | -€884,051 | -11.2% |
| Equity | 10/15 | €2,773,730 | €2,187,249 | -€586,481 | -21.1% |
| Contributions | 10/11 | €942,000 | €942,000 | = | 0.0% |
| Capital | 10 | €942,000 | €942,000 | = | 0.0% |
| Issued capital | 100 | €942,000 | €942,000 | = | 0.0% |
| Reserves | 13 | €1,831,730 | €1,245,249 | -€586,481 | -32.0% |
| Non-distributable reserves | 130/1 | €94,200 | €94,200 | = | 0.0% |
| Legal reserve | 130 | €94,200 | €94,200 | = | 0.0% |
| Distributable reserves | 133 | €1,737,530 | €1,151,049 | -€586,481 | -33.8% |
| Amounts payable | 17/49 | €5,090,902 | €4,793,333 | -€297,569 | -5.8% |
| Amounts payable within one year | 42/48 | €5,000,902 | €4,612,779 | -€388,123 | -7.8% |
| Financial debts | 43 | €391,177 | - | -€391,177 | |
| Other loans | 439 | €391,177 | - | -€391,177 | |
| Trade debts | 44 | €95,529 | €140,093 | +€44,564 | +46.6% |
| Suppliers | 440/4 | €95,529 | €140,093 | +€44,564 | +46.6% |
| Advances received on contracts in progress | 46 | - | €265,003 | +€265,003 | |
| Taxes, remuneration and social security | 45 | €116,219 | €36,326 | -€79,893 | -68.7% |
| Taxes | 450/3 | €33,557 | €18,212 | -€15,345 | -45.7% |
| Remuneration and social security | 454/9 | €82,662 | €18,113 | -€64,549 | -78.1% |
| Other amounts payable | 47/48 | €4,397,977 | €4,171,357 | -€226,619 | -5.2% |
| Accrued charges and deferred income | 492/3 | €90,000 | €180,553 | +€90,553 | +100.6% |
| Remuneration, social security and pensions | 62 | €184,565 | €181,885 | -€2,681 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,122 | €14,174 | +€1,052 | +8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€563,460 | - | +€563,460 | |
| Other operating charges | 640/8 | €8,995 | €3,170 | -€5,825 | -64.8% |
| Gross operating margin | 9900 | -€81,272 | -€210,451 | -€129,179 | -158.9% |
| Operating profit (loss) | 9901 | €275,506 | -€409,679 | -€685,185 | |
| Financial income | 75/76B | €73 | €2,097 | +€2,025 | +2789.7% |
| Recurring financial income | 75 | €73 | €2,097 | +€2,025 | +2789.7% |
| Financial charges | 65/66B | €1,466 | €178,658 | +€177,192 | +12090.9% |
| Recurring financial charges | 65 | €1,466 | €23,427 | +€21,962 | +1498.6% |
| Non-recurring financial charges | 66B | - | €155,231 | +€155,231 | |
| Profit (loss) for the period before taxes | 9903 | €274,113 | -€586,240 | -€860,353 | |
| Income taxes | 67/77 | €271 | €241 | -€30 | -11.0% |
| Profit (loss) for the period | 9904 | €273,842 | -€586,481 | -€860,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €273,842 | -€586,481 | -€860,323 |
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.