Dr. Florent Graide: 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.
Dr. Florent Graide
Largest movements
- Tangible fixed assets +€68,563
up €68,563 (+1,405%), from €4,878 to €73,441
of which Land and buildings: +€70,000
- Receivables within one year +€49,787
up €49,787 (+358%), from €13,905 to €63,692
- Cash -€4,354
down €4,354 (-2.0%), from €218,449 to €214,095
mainly Contributions, distributions and other (-€226,649) and Investment in fixed assets (net) (-€70,000)
- Other debts +€226,649
new in 2025: €226,649
- Reserves -€163,989
down €163,989 (-74.0%), from €221,479 to €57,490
- Debts after one year +€65,016
new in 2025: €65,016
- Tax, wage and social debts -€19,341
no longer reported in 2025 (was €19,341)
- Current portion of long-term debt +€4,984
new in 2025: €4,984
- Gross operating margin +€33,653
up €33,653 (+52.9%), from €63,607 to €97,260
- Taxes +€4,121
up €4,121 (+30.6%), from €13,481 to €17,603
- Financial charges +€1,730
up €1,730 (+66.2%), from €2,613 to €4,342
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 | €246,020 | €359,175 | +€113,155 | +46.0% |
| Fixed assets | 21/28 | €5,628 | €74,191 | +€68,563 | +1,218% |
| Tangible fixed assets | 22/27 | €4,878 | €73,441 | +€68,563 | +1,405% |
| Land and buildings | 22 | - | €70,000 | +€70,000 | |
| Plant, machinery and equipment | 23 | €2,420 | €1,870 | -€551 | -22.7% |
| Furniture and vehicles | 24 | €2,458 | €1,571 | -€887 | -36.1% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €240,391 | €284,984 | +€44,592 | +18.5% |
| Amounts receivable within one year | 40/41 | €13,905 | €63,692 | +€49,787 | +358% |
| Other amounts receivable | 41 | €13,905 | €63,692 | +€49,787 | +358% |
| Cash at bank and in hand | 54/58 | €218,449 | €214,095 | -€4,354 | -2.0% |
| Deferred charges and accrued income | 490/1 | €8,037 | €7,197 | -€840 | -10.4% |
| Total equity and liabilities | 10/49 | €246,020 | €359,175 | +€113,155 | +46.0% |
| Equity | 10/15 | €224,484 | €60,490 | -€163,994 | -73.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €221,479 | €57,490 | -€163,989 | -74.0% |
| Distributable reserves | 133 | €221,479 | €57,490 | -€163,989 | -74.0% |
| Profit (loss) carried forward | 14 | €5 | - | -€5 | |
| Amounts payable | 17/49 | €21,535 | €298,685 | +€277,150 | +1,287% |
| Amounts payable after more than one year | 17 | - | €65,016 | +€65,016 | |
| Financial debts | 170/4 | - | €65,016 | +€65,016 | |
| Amounts payable within one year | 42/48 | €20,863 | €232,975 | +€212,112 | +1,017% |
| Current portion of amounts payable after more than one year | 42 | - | €4,984 | +€4,984 | |
| Trade debts | 44 | €1,522 | €1,342 | -€180 | -11.8% |
| Suppliers | 440/4 | €1,522 | €1,342 | -€180 | -11.8% |
| Taxes, remuneration and social security | 45 | €19,341 | - | -€19,341 | |
| Taxes | 450/3 | €19,341 | - | -€19,341 | |
| Other amounts payable | 47/48 | - | €226,649 | +€226,649 | |
| Accrued charges and deferred income | 492/3 | €672 | €694 | +€22 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,099 | €1,437 | +€338 | +30.8% |
| Other operating charges | 640/8 | €133 | €99 | -€33 | -25.2% |
| Non-recurring operating charges | 66A | - | €12,132 | +€12,132 | |
| Gross operating margin | 9900 | €63,607 | €97,260 | +€33,653 | +52.9% |
| Operating profit (loss) | 9901 | €62,376 | €83,591 | +€21,216 | +34.0% |
| Financial income | 75/76B | €126 | €1,008 | +€882 | +699% |
| Recurring financial income | 75 | €126 | €1,008 | +€882 | +699% |
| Financial charges | 65/66B | €2,613 | €4,342 | +€1,730 | +66.2% |
| Recurring financial charges | 65 | €2,613 | €4,342 | +€1,730 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €59,889 | €80,257 | +€20,368 | +34.0% |
| Income taxes | 67/77 | €13,481 | €17,603 | +€4,121 | +30.6% |
| Profit (loss) for the period | 9904 | €46,408 | €62,655 | +€16,246 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,408 | €62,655 | +€16,246 | +35.0% |
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 29 October 2026 via checked.be.