Grabeco: 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.
Grabeco
Largest movements
- Cash -€30,509
down €30,509 (-63.1%), from €48,324 to €17,815
mainly Receivables within one year (-€27,875) and Tax, wage and social debts (-€19,392)
- Receivables within one year +€27,875
up €27,875 (+51.0%), from €54,693 to €82,567
of which Trade receivables: +€27,499
- Tangible fixed assets -€4,088
down €4,088 (-9.7%), from €41,967 to €37,878
of which Furniture and vehicles: -€4,006
- Tax, wage and social debts -€19,392
down €19,392 (-84.2%), from €23,037 to €3,645
of which Remuneration and social security: -€10,800
- Reserves +€15,480
up €15,480 (+41.4%), from €37,409 to €52,890
of which Distributable reserves: +€15,480
- Debts after one year -€4,605
down €4,605 (-24.6%), from €18,692 to €14,087
- Trade debts +€2,867
up €2,867 (+39.5%), from €7,255 to €10,122
- Gross operating margin +€46,401
up €46,401, from -€12,049 to €34,352
- Depreciation +€5,243
up €5,243 (+93.6%), from €5,601 to €10,844
- Taxes +€1,543
up €1,543 (+433%), from €356 to €1,899
- Financial charges -€679
down €679 (-14.4%), from €4,709 to €4,030
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 | €145,308 | €139,837 | -€5,471 | -3.8% |
| Fixed assets | 21/28 | €41,967 | €37,878 | -€4,088 | -9.7% |
| Tangible fixed assets | 22/27 | €41,967 | €37,878 | -€4,088 | -9.7% |
| Plant, machinery and equipment | 23 | €7,063 | €6,732 | -€330 | -4.7% |
| Furniture and vehicles | 24 | €24,410 | €20,403 | -€4,006 | -16.4% |
| Other tangible fixed assets | 26 | €10,494 | €10,743 | +€248 | +2.4% |
| Current assets | 29/58 | €103,342 | €101,959 | -€1,383 | -1.3% |
| Amounts receivable within one year | 40/41 | €54,693 | €82,567 | +€27,875 | +51.0% |
| Trade receivables | 40 | €39,155 | €66,654 | +€27,499 | +70.2% |
| Other amounts receivable | 41 | €15,538 | €15,913 | +€375 | +2.4% |
| Cash at bank and in hand | 54/58 | €48,324 | €17,815 | -€30,509 | -63.1% |
| Deferred charges and accrued income | 490/1 | €325 | €1,577 | +€1,252 | +385% |
| Total equity and liabilities | 10/49 | €145,308 | €139,837 | -€5,471 | -3.8% |
| Equity | 10/15 | €91,898 | €107,379 | +€15,480 | +16.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €37,409 | €52,890 | +€15,480 | +41.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €37,409 | €52,890 | +€15,480 | +41.4% |
| Profit (loss) carried forward | 14 | €53,489 | €53,489 | = | 0.0% |
| Amounts payable | 17/49 | €53,410 | €32,459 | -€20,951 | -39.2% |
| Amounts payable after more than one year | 17 | €18,692 | €14,087 | -€4,605 | -24.6% |
| Financial debts | 170/4 | €18,692 | €14,087 | -€4,605 | -24.6% |
| Amounts payable within one year | 42/48 | €34,718 | €18,372 | -€16,346 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €4,426 | €4,605 | +€179 | +4.0% |
| Trade debts | 44 | €7,255 | €10,122 | +€2,867 | +39.5% |
| Suppliers | 440/4 | €7,255 | €10,122 | +€2,867 | +39.5% |
| Taxes, remuneration and social security | 45 | €23,037 | €3,645 | -€19,392 | -84.2% |
| Taxes | 450/3 | €12,237 | €3,645 | -€8,592 | -70.2% |
| Remuneration and social security | 454/9 | €10,800 | €0 | -€10,800 | -100% |
| Non-recurring operating income | 76A | - | €9,050 | +€9,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,601 | €10,844 | +€5,243 | +93.6% |
| Other operating charges | 640/8 | €2,450 | €2,557 | +€107 | +4.4% |
| Gross operating margin | 9900 | -€12,049 | €34,352 | +€46,401 | |
| Operating profit (loss) | 9901 | -€20,100 | €20,952 | +€41,051 | |
| Financial income | 75/76B | €494 | €458 | -€37 | -7.4% |
| Recurring financial income | 75 | €494 | €458 | -€37 | -7.4% |
| Financial charges | 65/66B | €4,709 | €4,030 | -€679 | -14.4% |
| Recurring financial charges | 65 | €4,709 | €4,030 | -€679 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,315 | €17,379 | +€41,694 | |
| Income taxes | 67/77 | €356 | €1,899 | +€1,543 | +433% |
| Profit (loss) for the period | 9904 | -€24,671 | €15,480 | +€40,151 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,671 | €15,480 | +€40,151 |
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 17 October 2026 via checked.be.