Ferme de Grady: 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.
Ferme de Grady
Largest movements
- Stocks and contracts -€441,111
down €441,111 (-64.4%), from €685,480 to €244,369
- Receivables within one year +€437,119
up €437,119 (+137%), from €320,037 to €757,156
of which Trade receivables: +€439,679
- Tangible fixed assets +€127,761
up €127,761 (+9.4%), from €1.4m to €1.5m
of which Land and buildings: +€79,039
- Cash -€30,185
down €30,185 (-40.7%), from €74,154 to €43,969
mainly Receivables within one year (-€437,119) and Investment in fixed assets (net) (-€265,866)
- Debts after one year +€124,943
up €124,943 (+50.1%), from €249,567 to €374,510
- Short-term financial debts -€115,556
down €115,556 (-7.6%), from €1.5m to €1.4m
- Trade debts +€30,013
up €30,013 (+11.4%), from €263,633 to €293,646
- Current portion of long-term debt +€29,371
up €29,371 (+66.5%), from €44,149 to €73,520
- Gross operating margin -€150,865
down €150,865 (-38.1%), from €396,079 to €245,214
- Depreciation -€41,065
down €41,065 (-23.7%), from €173,047 to €131,982
- Financial charges -€31,882
down €31,882 (-30.3%), from €105,351 to €73,468
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 | €2,494,798 | €2,595,029 | +€100,231 | +4.0% |
| Fixed assets | 21/28 | €1,393,490 | €1,527,374 | +€133,884 | +9.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,365,454 | €1,493,215 | +€127,761 | +9.4% |
| Land and buildings | 22 | €1,257,360 | €1,336,399 | +€79,039 | +6.3% |
| Plant, machinery and equipment | 23 | €96,438 | €125,821 | +€29,383 | +30.5% |
| Furniture and vehicles | 24 | €11,656 | €30,995 | +€19,339 | +166% |
| Financial fixed assets | 28 | €28,036 | €34,159 | +€6,123 | +21.8% |
| Current assets | 29/58 | €1,101,309 | €1,067,655 | -€33,654 | -3.1% |
| Stocks and contracts in progress | 3 | €685,480 | €244,369 | -€441,111 | -64.4% |
| Stocks | 30/36 | €685,480 | €244,369 | -€441,111 | -64.4% |
| Amounts receivable within one year | 40/41 | €320,037 | €757,156 | +€437,119 | +137% |
| Trade receivables | 40 | €312,967 | €752,646 | +€439,679 | +140% |
| Other amounts receivable | 41 | €7,070 | €4,510 | -€2,560 | -36.2% |
| Cash at bank and in hand | 54/58 | €74,154 | €43,969 | -€30,185 | -40.7% |
| Deferred charges and accrued income | 490/1 | €21,637 | €22,160 | +€523 | +2.4% |
| Total equity and liabilities | 10/49 | €2,494,798 | €2,595,029 | +€100,231 | +4.0% |
| Equity | 10/15 | €137,810 | €167,663 | +€29,853 | +21.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €161,462 | €176,502 | +€15,040 | +9.3% |
| Tax-exempt reserves | 132 | €32,750 | €47,790 | +€15,040 | +45.9% |
| Distributable reserves | 133 | €128,712 | €128,712 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,439 | -€51,826 | +€15,613 | +23.2% |
| Investment grants | 15 | €12,800 | €12,000 | -€800 | -6.3% |
| Provisions and deferred taxes | 16 | - | €3,760 | +€3,760 | |
| Deferred taxes | 168 | - | €3,760 | +€3,760 | |
| Amounts payable | 17/49 | €2,356,988 | €2,423,606 | +€66,618 | +2.8% |
| Amounts payable after more than one year | 17 | €249,567 | €374,510 | +€124,943 | +50.1% |
| Financial debts | 170/4 | €249,567 | €374,510 | +€124,943 | +50.1% |
| Amounts payable within one year | 42/48 | €2,107,421 | €2,049,096 | -€58,325 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €44,149 | €73,520 | +€29,371 | +66.5% |
| Financial debts | 43 | €1,524,778 | €1,409,222 | -€115,556 | -7.6% |
| Credit institutions | 430/8 | €1,524,778 | €1,409,222 | -€115,556 | -7.6% |
| Trade debts | 44 | €263,633 | €293,646 | +€30,013 | +11.4% |
| Suppliers | 440/4 | €263,633 | €293,646 | +€30,013 | +11.4% |
| Taxes, remuneration and social security | 45 | €3,216 | €17,121 | +€13,906 | +432% |
| Taxes | 450/3 | €3,216 | €17,121 | +€13,906 | +432% |
| Other amounts payable | 47/48 | €271,645 | €255,586 | -€16,059 | -5.9% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €97 | - | -€97 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,047 | €131,982 | -€41,065 | -23.7% |
| Other operating charges | 640/8 | €8,502 | €8,504 | +€2 | 0.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €396,079 | €245,214 | -€150,865 | -38.1% |
| Operating profit (loss) | 9901 | €214,433 | €104,728 | -€109,705 | -51.2% |
| Financial income | 75/76B | €1,197 | €3,746 | +€2,549 | +213% |
| Recurring financial income | 75 | €1,197 | €3,746 | +€2,549 | +213% |
| Financial charges | 65/66B | €105,351 | €73,468 | -€31,882 | -30.3% |
| Recurring financial charges | 65 | €105,351 | €73,468 | -€31,882 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €110,279 | €35,006 | -€75,273 | -68.3% |
| Transfer from deferred taxes | 780 | - | €940 | +€940 | |
| Transfer to deferred taxes | 680 | - | €4,700 | +€4,700 | |
| Income taxes | 67/77 | €846 | €593 | -€253 | -29.9% |
| Profit (loss) for the period | 9904 | €109,434 | €30,653 | -€78,780 | -72.0% |
| Transfer from tax-exempt reserves | 789 | - | €3,760 | +€3,760 | |
| Transfer to tax-exempt reserves | 689 | - | €18,800 | +€18,800 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,434 | €15,613 | -€93,820 | -85.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.