GIRRAF & Co: 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.
GIRRAF & Co
Largest movements
- Receivables after one year -€43,098
no longer reported in 2025 (was €43,098)
- Cash +€33,394
up €33,394 (+417%), from €8,011 to €41,405
mainly Receivables after one year (+€43,098) and Trade debts (+€16,023)
- Receivables within one year +€6,551
up €6,551 (+14.6%), from €44,935 to €51,486
of which Trade receivables: +€6,453
- Intangible fixed assets -€4,000
down €4,000 (-22.1%), from €18,109 to €14,109
- Tangible fixed assets -€1,519
down €1,519 (-70.2%), from €2,165 to €645
of which Plant, machinery and equipment: -€1,438
- Other debts -€28,133
down €28,133 (-69.8%), from €40,277 to €12,144
- Trade debts +€16,023
up €16,023 (+82.7%), from €19,380 to €35,403
- Profit (loss) carried forward +€2,912
up €2,912 (+50.7%), from -€5,741 to -€2,829
- Other operating charges +€55,096
up €55,096 (+8,324%), from €662 to €55,758
- Gross operating margin +€43,627
up €43,627 (+200%), from €21,867 to €65,493
- Depreciation +€1,967
up €1,967 (+55.4%), from €3,552 to €5,519
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 | €118,277 | €109,764 | -€8,513 | -7.2% |
| Fixed assets | 21/28 | €20,274 | €14,755 | -€5,519 | -27.2% |
| Intangible fixed assets | 21 | €18,109 | €14,109 | -€4,000 | -22.1% |
| Tangible fixed assets | 22/27 | €2,165 | €645 | -€1,519 | -70.2% |
| Plant, machinery and equipment | 23 | €2,083 | €645 | -€1,438 | -69.0% |
| Furniture and vehicles | 24 | €82 | - | -€82 | |
| Current assets | 29/58 | €98,003 | €95,010 | -€2,993 | -3.1% |
| Amounts receivable after more than one year | 29 | €43,098 | - | -€43,098 | |
| Other amounts receivable | 291 | €43,098 | - | -€43,098 | |
| Amounts receivable within one year | 40/41 | €44,935 | €51,486 | +€6,551 | +14.6% |
| Trade receivables | 40 | €44,915 | €51,368 | +€6,453 | +14.4% |
| Other amounts receivable | 41 | €19 | €118 | +€99 | +506% |
| Cash at bank and in hand | 54/58 | €8,011 | €41,405 | +€33,394 | +417% |
| Deferred charges and accrued income | 490/1 | €1,960 | €2,119 | +€159 | +8.1% |
| Total equity and liabilities | 10/49 | €118,277 | €109,764 | -€8,513 | -7.2% |
| Equity | 10/15 | €53,893 | €56,805 | +€2,912 | +5.4% |
| Contributions | 10/11 | €59,634 | €59,634 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,741 | -€2,829 | +€2,912 | +50.7% |
| Amounts payable | 17/49 | €64,384 | €52,959 | -€11,425 | -17.7% |
| Amounts payable within one year | 42/48 | €64,384 | €52,959 | -€11,425 | -17.7% |
| Trade debts | 44 | €19,380 | €35,403 | +€16,023 | +82.7% |
| Suppliers | 440/4 | €19,380 | €35,403 | +€16,023 | +82.7% |
| Taxes, remuneration and social security | 45 | €4,727 | €5,412 | +€685 | +14.5% |
| Taxes | 450/3 | €4,523 | €4,527 | +€4 | +0.1% |
| Remuneration and social security | 454/9 | €204 | €885 | +€681 | +334% |
| Other amounts payable | 47/48 | €40,277 | €12,144 | -€28,133 | -69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,552 | €5,519 | +€1,967 | +55.4% |
| Other operating charges | 640/8 | €662 | €55,758 | +€55,096 | +8,324% |
| Gross operating margin | 9900 | €21,867 | €65,493 | +€43,627 | +200% |
| Operating profit (loss) | 9901 | €17,653 | €4,216 | -€13,436 | -76.1% |
| Financial income | 75/76B | €20 | €0 | -€20 | -98.4% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -98.4% |
| Financial charges | 65/66B | €1,201 | €1,172 | -€29 | -2.4% |
| Recurring financial charges | 65 | €1,201 | €1,172 | -€29 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €16,471 | €3,044 | -€13,427 | -81.5% |
| Income taxes | 67/77 | €131 | €132 | +€1 | +1.1% |
| Profit (loss) for the period | 9904 | €16,341 | €2,912 | -€13,429 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,341 | €2,912 | -€13,429 | -82.2% |
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.