GHARRAFI: 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.
GHARRAFI
Largest movements
- Cash +€8,566
up €8,566 (+27.4%), from €31,205 to €39,771
mainly Net result for the year (+€6,740) and Other debts (+€5,030)
- Receivables within one year +€5,505
up €5,505 (+1,857%), from €296 to €5,801
of which Other amounts receivable: +€5,618
- Intangible fixed assets -€800
down €800 (-25.0%), from €3,200 to €2,400
- Profit (loss) carried forward +€6,740
up €6,740 (+35.0%), from €19,257 to €25,997
- Other debts +€5,030
up €5,030 (+2,190%), from €230 to €5,260
- Tax, wage and social debts +€1,920
new in 2025: €1,920
- Turnover +€8,013
up €8,013 (+7.6%), from €104,975 to €112,988
- Purchases and services +€4,410
up €4,410 (+4.5%), from €99,090 to €103,500
- Gross operating margin +€3,603
up €3,603 (+61.2%), from €5,885 to €9,488
- Other operating charges +€1,414
up €1,414 (+281%), from €503 to €1,918
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 | €38,687 | €52,377 | +€13,691 | +35.4% |
| Fixed assets | 21/28 | €5,200 | €4,400 | -€800 | -15.4% |
| Intangible fixed assets | 21 | €3,200 | €2,400 | -€800 | -25.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €33,487 | €47,977 | +€14,491 | +43.3% |
| Stocks and contracts in progress | 3 | €1,985 | €2,405 | +€420 | +21.2% |
| Stocks | 30/36 | €1,985 | €2,405 | +€420 | +21.2% |
| Amounts receivable within one year | 40/41 | €296 | €5,801 | +€5,505 | +1,857% |
| Trade receivables | 40 | €199 | €86 | -€113 | -56.7% |
| Other amounts receivable | 41 | €98 | €5,715 | +€5,618 | +5,759% |
| Cash at bank and in hand | 54/58 | €31,205 | €39,771 | +€8,566 | +27.4% |
| Total equity and liabilities | 10/49 | €38,687 | €52,377 | +€13,691 | +35.4% |
| Equity | 10/15 | €38,457 | €45,197 | +€6,740 | +17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €600 | €600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Legal reserve | 130 | €600 | €600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,257 | €25,997 | +€6,740 | +35.0% |
| Amounts payable | 17/49 | €230 | €7,180 | +€6,950 | +3,026% |
| Amounts payable within one year | 42/48 | €230 | €7,180 | +€6,950 | +3,026% |
| Taxes, remuneration and social security | 45 | - | €1,920 | +€1,920 | |
| Taxes | 450/3 | - | €1,920 | +€1,920 | |
| Other amounts payable | 47/48 | €230 | €5,260 | +€5,030 | +2,190% |
| Turnover | 70 | €104,975 | €112,988 | +€8,013 | +7.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €99,090 | €103,500 | +€4,410 | +4.5% |
| Remuneration, social security and pensions | 62 | €52 | - | -€52 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €800 | = | 0.0% |
| Other operating charges | 640/8 | €503 | €1,918 | +€1,414 | +281% |
| Gross operating margin | 9900 | €5,885 | €9,488 | +€3,603 | +61.2% |
| Operating profit (loss) | 9901 | €4,530 | €6,770 | +€2,241 | +49.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €137 | €30 | -€107 | -78.1% |
| Recurring financial charges | 65 | €137 | €30 | -€107 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | €4,393 | €6,740 | +€2,347 | +53.4% |
| Profit (loss) for the period | 9904 | €4,393 | €6,740 | +€2,347 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,393 | €6,740 | +€2,347 | +53.4% |
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 18 October 2026 via checked.be.