FREDERIC GRAND: 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.
FREDERIC GRAND
Largest movements
- Cash +€38,499
up €38,499 (+2287.9%), from €1,683 to €40,182
mainly Net result for the year (+€38,436) and Receivables within one year (+€12,432)
- Receivables within one year -€12,432
down €12,432 (-16.6%), from €75,025 to €62,594
of which Trade receivables: -€8,049
- Tangible fixed assets -€2,200
down €2,200 (-25.8%), from €8,536 to €6,336
- Reserves +€38,436
up €38,436 (+254.7%), from €15,089 to €53,525
of which Distributable reserves: +€38,436
- Trade debts -€20,647
down €20,647 (-56.1%), from €36,806 to €16,159
- Tax, wage and social debts +€7,852
up €7,852 (+122.1%), from €6,430 to €14,282
- Other debts -€1,606
down €1,606 (-30.3%), from €5,306 to €3,700
- Gross operating margin +€42,964
up €42,964 (+224.8%), from €19,112 to €62,076
- Taxes +€15,224
up €15,224 (+295.1%), from €5,158 to €20,382
- Other operating charges -€1,329
down €1,329 (-73.0%), from €1,820 to €491
- Depreciation -€1,200
down €1,200 (-35.3%), from €3,400 to €2,200
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 | €85,244 | €109,112 | +€23,868 | +28.0% |
| Fixed assets | 21/28 | €8,536 | €6,336 | -€2,200 | -25.8% |
| Tangible fixed assets | 22/27 | €8,536 | €6,336 | -€2,200 | -25.8% |
| Plant, machinery and equipment | 23 | €8,536 | €6,336 | -€2,200 | -25.8% |
| Current assets | 29/58 | €76,708 | €102,776 | +€26,068 | +34.0% |
| Amounts receivable within one year | 40/41 | €75,025 | €62,594 | -€12,432 | -16.6% |
| Trade receivables | 40 | €41,792 | €33,743 | -€8,049 | -19.3% |
| Other amounts receivable | 41 | €33,233 | €28,851 | -€4,383 | -13.2% |
| Cash at bank and in hand | 54/58 | €1,683 | €40,182 | +€38,499 | +2287.9% |
| Total equity and liabilities | 10/49 | €85,244 | €109,112 | +€23,868 | +28.0% |
| Equity | 10/15 | €34,154 | €72,590 | +€38,436 | +112.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €15,089 | €53,525 | +€38,436 | +254.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €13,230 | €51,666 | +€38,436 | +290.5% |
| Profit (loss) carried forward | 14 | €473 | €473 | = | 0.0% |
| Amounts payable | 17/49 | €51,090 | €36,522 | -€14,568 | -28.5% |
| Amounts payable within one year | 42/48 | €51,090 | €36,481 | -€14,609 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €2,547 | €2,339 | -€208 | -8.2% |
| Trade debts | 44 | €36,806 | €16,159 | -€20,647 | -56.1% |
| Suppliers | 440/4 | €36,806 | €16,159 | -€20,647 | -56.1% |
| Taxes, remuneration and social security | 45 | €6,430 | €14,282 | +€7,852 | +122.1% |
| Taxes | 450/3 | €6,430 | €14,282 | +€7,852 | +122.1% |
| Other amounts payable | 47/48 | €5,306 | €3,700 | -€1,606 | -30.3% |
| Accrued charges and deferred income | 492/3 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,400 | €2,200 | -€1,200 | -35.3% |
| Other operating charges | 640/8 | €1,820 | €491 | -€1,329 | -73.0% |
| Gross operating margin | 9900 | €19,112 | €62,076 | +€42,964 | +224.8% |
| Operating profit (loss) | 9901 | €13,892 | €59,385 | +€45,493 | +327.5% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €947 | €588 | -€360 | -38.0% |
| Recurring financial charges | 65 | €947 | €588 | -€360 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €12,945 | €58,818 | +€45,873 | +354.4% |
| Income taxes | 67/77 | €5,158 | €20,382 | +€15,224 | +295.1% |
| Profit (loss) for the period | 9904 | €7,787 | €38,436 | +€30,649 | +393.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,787 | €38,436 | +€30,649 | +393.6% |
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 6 October 2026 via checked.be.