GR Powder Coating: 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.
What changed
GR Powder Coating
NACE 25.510, Coating of metals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€37,345
2024 · €57,410-€20,065
Equity
€271,443
2024 · €243,877+€27,567
Cash
€35,808
2024 · €31,877+€3,930
Balance sheet total
€1.3m
2024 · €1.3m-€25,810
Largest movements
Assets
- Receivables within one year -€33,774
down €33,774 (-35.6%), from €94,875 to €61,100
of which Other amounts receivable: -€36,614
Equity and liabilities
- Debts after one year -€37,886
down €37,886 (-4.7%), from €811,240 to €773,354
of which Other amounts payable: -€25,000
- Other debts -€34,030
down €34,030 (-39.4%), from €86,359 to €52,329
- Reserves +€31,300
up €31,300 (+22.4%), from €139,500 to €170,800
- Tax, wage and social debts +€22,415
up €22,415 (+53.8%), from €41,633 to €64,048
of which Taxes: +€12,958
Income statement
- Staff costs +€38,556
up €38,556 (+26.7%), from €144,247 to €182,802
- Gross operating margin +€31,746
up €31,746 (+9.3%), from €342,917 to €374,663
- Depreciation +€11,772
up €11,772 (+11.6%), from €101,264 to €113,036
- Financial income -€7,096
down €7,096 (-60.5%), from €11,733 to €4,637
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.
Result 2024
€57,410
Gross operating margin
+€31,746
Staff costs
-€38,556
Depreciation
-€11,772
Write-downs
+€613
Other operating charges
+€855
Financial income
-€7,096
Financial charges
+€2,773
Taxes
+€1,371
Result 2025
€37,345
raises the resultlowers the result
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.
From operations
+€185,951
Investment
-€124,805
Financing
-€57,216
Cash 2024
€31,877
From operations (derived)
+€185,951
Net result for the year
+€37,345
Depreciation
+€113,036
Stocks and contracts
+€7,705
Receivables within one year
+€33,774
Deferred charges and accrued income
+€30
Trade debts
+€3,284
Tax, wage and social debts
+€22,415
Other debts
-€34,030
Accrued charges and deferred income
+€2,392
Investment (derived)
-€124,805
Investment in fixed assets (net)
-€124,805
Financing
-€57,216
Debts after one year
-€37,886
Current portion of long-term debt
-€1,218
Short-term financial debts
-€8,333
Contributions, distributions and other
-€9,778
Cash 2025
€35,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,307,711 | €1,281,901 | -€25,810 | -2.0% |
| Fixed assets | 21/28 | €1,148,536 | €1,160,305 | +€11,769 | +1.0% |
| Tangible fixed assets | 22/27 | €1,147,216 | €1,158,985 | +€11,769 | +1.0% |
| Land and buildings | 22 | €892,745 | €913,148 | +€20,403 | +2.3% |
| Plant, machinery and equipment | 23 | €174,374 | €188,268 | +€13,893 | +8.0% |
| Furniture and vehicles | 24 | €80,096 | €57,570 | -€22,526 | -28.1% |
| Financial fixed assets | 28 | €1,320 | €1,320 | = | 0.0% |
| Current assets | 29/58 | €159,176 | €121,596 | -€37,579 | -23.6% |
| Stocks and contracts in progress | 3 | €28,628 | €20,923 | -€7,705 | -26.9% |
| Stocks | 30/36 | €28,628 | €20,923 | -€7,705 | -26.9% |
| Amounts receivable within one year | 40/41 | €94,875 | €61,100 | -€33,774 | -35.6% |
| Trade receivables | 40 | €58,261 | €61,100 | +€2,839 | +4.9% |
| Other amounts receivable | 41 | €36,614 | - | -€36,614 | |
| Cash at bank and in hand | 54/58 | €31,877 | €35,808 | +€3,930 | +12.3% |
| Deferred charges and accrued income | 490/1 | €3,795 | €3,765 | -€30 | -0.8% |
| Total equity and liabilities | 10/49 | €1,307,711 | €1,281,901 | -€25,810 | -2.0% |
| Equity | 10/15 | €243,877 | €271,443 | +€27,567 | +11.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €139,500 | €170,800 | +€31,300 | +22.4% |
| Distributable reserves | 133 | €139,500 | €170,800 | +€31,300 | +22.4% |
| Profit (loss) carried forward | 14 | - | €45 | +€45 | |
| Investment grants | 15 | €74,377 | €70,598 | -€3,778 | -5.1% |
| Amounts payable | 17/49 | €1,063,835 | €1,010,458 | -€53,377 | -5.0% |
| Amounts payable after more than one year | 17 | €811,240 | €773,354 | -€37,886 | -4.7% |
| Financial debts | 170/4 | €711,240 | €698,354 | -€12,886 | -1.8% |
| Other amounts payable | 178/9 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Amounts payable within one year | 42/48 | €248,609 | €230,726 | -€17,883 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €111,202 | €109,984 | -€1,218 | -1.1% |
| Financial debts | 43 | €8,333 | - | -€8,333 | |
| Credit institutions | 430/8 | €8,333 | - | -€8,333 | |
| Trade debts | 44 | €1,080 | €4,364 | +€3,284 | +304% |
| Suppliers | 440/4 | €1,080 | €4,364 | +€3,284 | +304% |
| Taxes, remuneration and social security | 45 | €41,633 | €64,048 | +€22,415 | +53.8% |
| Taxes | 450/3 | €22,154 | €35,112 | +€12,958 | +58.5% |
| Remuneration and social security | 454/9 | €19,479 | €28,936 | +€9,457 | +48.6% |
| Other amounts payable | 47/48 | €86,359 | €52,329 | -€34,030 | -39.4% |
| Accrued charges and deferred income | 492/3 | €3,986 | €6,378 | +€2,392 | +60.0% |
| Remuneration, social security and pensions | 62 | €144,247 | €182,802 | +€38,556 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,264 | €113,036 | +€11,772 | +11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €613 | - | -€613 | |
| Other operating charges | 640/8 | €5,299 | €4,443 | -€855 | -16.1% |
| Gross operating margin | 9900 | €342,917 | €374,663 | +€31,746 | +9.3% |
| Operating profit (loss) | 9901 | €91,495 | €74,381 | -€17,113 | -18.7% |
| Financial income | 75/76B | €11,733 | €4,637 | -€7,096 | -60.5% |
| Recurring financial income | 75 | €11,733 | €4,637 | -€7,096 | -60.5% |
| Financial charges | 65/66B | €31,029 | €28,256 | -€2,773 | -8.9% |
| Recurring financial charges | 65 | €31,029 | €28,256 | -€2,773 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €72,198 | €50,762 | -€21,436 | -29.7% |
| Income taxes | 67/77 | €14,788 | €13,417 | -€1,371 | -9.3% |
| Profit (loss) for the period | 9904 | €57,410 | €37,345 | -€20,065 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,410 | €37,345 | -€20,065 | -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 19 October 2026 via checked.be.