GRAAM: 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.
GRAAM
Largest movements
- Cash +€59,752
up €59,752 (+46.5%), from €128,499 to €188,251
mainly Other debts (+€140,083) and Net result for the year (+€56,479)
- Deferred charges and accrued income -€36,666
down €36,666 (-100%), from €36,666 to €0
- Receivables within one year -€23,844
down €23,844 (-70.0%), from €34,062 to €10,217
of which Other amounts receivable: -€12,805
- Profit (loss) carried forward -€143,521
down €143,521 (-68.9%), from €208,305 to €64,784
- Other debts +€140,083
up €140,083, from €0 to €140,083
- Tax, wage and social debts +€2,637
up €2,637 (+6.3%), from €42,177 to €44,814
- Gross operating margin -€69,951
down €69,951 (-40.7%), from €171,875 to €101,923
- Taxes +€4,515
up €4,515 (+11.5%), from €39,380 to €43,895
- Financial income +€3,710
up €3,710 (+742,092%), from €1 to €3,711
- Financial charges +€2,265
up €2,265 (+563%), from €402 to €2,668
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 | €253,591 | €252,885 | -€706 | -0.3% |
| Fixed assets | 21/28 | €4,365 | €4,417 | +€52 | +1.2% |
| Tangible fixed assets | 22/27 | €4,365 | €4,417 | +€52 | +1.2% |
| Plant, machinery and equipment | 23 | €746 | €1,857 | +€1,111 | +149% |
| Furniture and vehicles | 24 | €3,619 | €2,560 | -€1,059 | -29.3% |
| Current assets | 29/58 | €249,226 | €248,468 | -€758 | -0.3% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,062 | €10,217 | -€23,844 | -70.0% |
| Trade receivables | 40 | €14,750 | €3,711 | -€11,039 | -74.8% |
| Other amounts receivable | 41 | €19,312 | €6,506 | -€12,805 | -66.3% |
| Cash at bank and in hand | 54/58 | €128,499 | €188,251 | +€59,752 | +46.5% |
| Deferred charges and accrued income | 490/1 | €36,666 | €0 | -€36,666 | -100% |
| Total equity and liabilities | 10/49 | €253,591 | €252,885 | -€706 | -0.3% |
| Equity | 10/15 | €211,305 | €67,784 | -€143,521 | -67.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,305 | €64,784 | -€143,521 | -68.9% |
| Amounts payable | 17/49 | €42,286 | €185,101 | +€142,815 | +338% |
| Amounts payable within one year | 42/48 | €42,286 | €185,101 | +€142,815 | +338% |
| Trade debts | 44 | €109 | €204 | +€95 | +87.0% |
| Suppliers | 440/4 | €109 | €204 | +€95 | +87.0% |
| Taxes, remuneration and social security | 45 | €42,177 | €44,814 | +€2,637 | +6.3% |
| Taxes | 450/3 | €42,177 | €44,814 | +€2,637 | +6.3% |
| Other amounts payable | 47/48 | €0 | €140,083 | +€140,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,161 | €2,137 | +€976 | +84.1% |
| Other operating charges | 640/8 | €6 | €456 | +€450 | +7,497% |
| Gross operating margin | 9900 | €171,875 | €101,923 | -€69,951 | -40.7% |
| Operating profit (loss) | 9901 | €170,708 | €99,330 | -€71,378 | -41.8% |
| Financial income | 75/76B | €1 | €3,711 | +€3,710 | +742,092% |
| Recurring financial income | 75 | €1 | €3,711 | +€3,710 | +742,092% |
| Financial charges | 65/66B | €402 | €2,668 | +€2,265 | +563% |
| Recurring financial charges | 65 | €402 | €2,668 | +€2,265 | +563% |
| Profit (loss) for the period before taxes | 9903 | €170,306 | €100,373 | -€69,933 | -41.1% |
| Income taxes | 67/77 | €39,380 | €43,895 | +€4,515 | +11.5% |
| Profit (loss) for the period | 9904 | €130,926 | €56,479 | -€74,447 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €130,926 | €56,479 | -€74,447 | -56.9% |
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 24 October 2026 via checked.be.