GRAAF WERK: 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.
GRAAF WERK
Largest movements
- Receivables within one year +€6,435
up €6,435 (+50.0%), from €12,882 to €19,317
- Cash +€2,000
up €2,000 (+38.8%), from €5,159 to €7,160
mainly Net result for the year (+€8,595) and Tax, wage and social debts (+€4,629)
- Profit (loss) carried forward +€6,351
up €6,351, from -€6,351 to €0
- Tax, wage and social debts +€4,629
up €4,629 (+78.9%), from €5,867 to €10,496
- Trade debts -€4,522
down €4,522 (-80.7%), from €5,605 to €1,083
- Reserves +€2,244
up €2,244 (+20.0%), from €11,196 to €13,439
- Gross operating margin +€7,546
up €7,546 (+89.2%), from €8,455 to €16,001
- Taxes +€3,050
up €3,050 (+744%), from €410 to €3,460
- Depreciation -€2,349
down €2,349 (-44.0%), from €5,344 to €2,994
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 | €28,566 | €37,438 | +€8,871 | +31.1% |
| Fixed assets | 21/28 | €10,525 | €10,626 | +€101 | +1.0% |
| Tangible fixed assets | 22/27 | €10,525 | €10,626 | +€101 | +1.0% |
| Land and buildings | 22 | €5,176 | €4,511 | -€665 | -12.8% |
| Plant, machinery and equipment | 23 | €3,734 | €4,986 | +€1,252 | +33.5% |
| Furniture and vehicles | 24 | €1,615 | €1,128 | -€487 | -30.1% |
| Current assets | 29/58 | €18,041 | €26,812 | +€8,770 | +48.6% |
| Amounts receivable within one year | 40/41 | €12,882 | €19,317 | +€6,435 | +50.0% |
| Trade receivables | 40 | €12,882 | €19,317 | +€6,435 | +50.0% |
| Cash at bank and in hand | 54/58 | €5,159 | €7,160 | +€2,000 | +38.8% |
| Deferred charges and accrued income | 490/1 | €0 | €335 | +€335 | |
| Total equity and liabilities | 10/49 | €28,566 | €37,438 | +€8,871 | +31.1% |
| Equity | 10/15 | €8,845 | €17,439 | +€8,595 | +97.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €11,196 | €13,439 | +€2,244 | +20.0% |
| Distributable reserves | 133 | €11,196 | €13,439 | +€2,244 | +20.0% |
| Profit (loss) carried forward | 14 | -€6,351 | €0 | +€6,351 | |
| Amounts payable | 17/49 | €19,722 | €19,998 | +€277 | +1.4% |
| Amounts payable within one year | 42/48 | €19,722 | €19,998 | +€277 | +1.4% |
| Trade debts | 44 | €5,605 | €1,083 | -€4,522 | -80.7% |
| Suppliers | 440/4 | €5,605 | €1,083 | -€4,522 | -80.7% |
| Taxes, remuneration and social security | 45 | €5,867 | €10,496 | +€4,629 | +78.9% |
| Taxes | 450/3 | €5,867 | €10,496 | +€4,629 | +78.9% |
| Other amounts payable | 47/48 | €8,249 | €8,420 | +€170 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,344 | €2,994 | -€2,349 | -44.0% |
| Other operating charges | 640/8 | €711 | €722 | +€11 | +1.5% |
| Gross operating margin | 9900 | €8,455 | €16,001 | +€7,546 | +89.2% |
| Operating profit (loss) | 9901 | €2,401 | €12,285 | +€9,884 | +412% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €390 | €232 | -€157 | -40.4% |
| Recurring financial charges | 65 | €390 | €232 | -€157 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €2,011 | €12,054 | +€10,043 | +499% |
| Income taxes | 67/77 | €410 | €3,460 | +€3,050 | +744% |
| Profit (loss) for the period | 9904 | €1,601 | €8,595 | +€6,993 | +437% |
| Profit (loss) for the period to be appropriated | 9905 | €1,601 | €8,595 | +€6,993 | +437% |
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 14 October 2026 via checked.be.