GRABU: 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.
GRABU
Largest movements
- Cash +€200,506
up €200,506 (+72.3%), from €277,380 to €477,886
mainly Net result for the year (+€215,228) and Receivables within one year (+€184,385)
- Receivables within one year -€184,385
down €184,385 (-99.5%), from €185,305 to €921
of which Other amounts receivable: -€183,406
- Tangible fixed assets -€25,942
down €25,942 (-3.6%), from €730,265 to €704,323
of which Land and buildings: -€30,097
- Debts after one year -€60,572
down €60,572 (-20.9%), from €290,189 to €229,618
- Tax, wage and social debts +€34,034
up €34,034 (+117%), from €29,165 to €63,199
of which Taxes: +€28,243
- Reserves +€16,689
up €16,689 (+2.2%), from €774,145 to €790,834
- Trade debts +€12,350
up €12,350 (+36.0%), from €34,290 to €46,640
- Gross operating margin +€96,002
up €96,002 (+22.5%), from €426,659 to €522,660
- Taxes +€24,145
up €24,145 (+33.0%), from €73,192 to €97,338
- Depreciation +€16,970
up €16,970 (+24.3%), from €69,938 to €86,908
- Staff costs +€15,028
up €15,028 (+15.6%), from €96,290 to €111,318
- Financial charges -€8,983
down €8,983 (-39.9%), from €22,517 to €13,535
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 | €1,229,505 | €1,221,246 | -€8,258 | -0.7% |
| Fixed assets | 21/28 | €732,425 | €706,569 | -€25,856 | -3.5% |
| Intangible fixed assets | 21 | €2,160 | €2,246 | +€86 | +4.0% |
| Tangible fixed assets | 22/27 | €730,265 | €704,323 | -€25,942 | -3.6% |
| Land and buildings | 22 | €634,446 | €604,349 | -€30,097 | -4.7% |
| Plant, machinery and equipment | 23 | €69,397 | €42,653 | -€26,745 | -38.5% |
| Furniture and vehicles | 24 | €26,421 | €57,321 | +€30,900 | +117% |
| Current assets | 29/58 | €497,080 | €514,677 | +€17,597 | +3.5% |
| Amounts receivable after more than one year | 29 | €27,000 | €30,000 | +€3,000 | +11.1% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €27,000 | €30,000 | +€3,000 | +11.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €185,305 | €921 | -€184,385 | -99.5% |
| Trade receivables | 40 | €1,900 | €921 | -€979 | -51.5% |
| Other amounts receivable | 41 | €183,406 | €0 | -€183,406 | -100% |
| Cash at bank and in hand | 54/58 | €277,380 | €477,886 | +€200,506 | +72.3% |
| Deferred charges and accrued income | 490/1 | €7,394 | €5,870 | -€1,524 | -20.6% |
| Total equity and liabilities | 10/49 | €1,229,505 | €1,221,246 | -€8,258 | -0.7% |
| Equity | 10/15 | €781,145 | €797,834 | +€16,689 | +2.1% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €774,145 | €790,834 | +€16,689 | +2.2% |
| Distributable reserves | 133 | €774,145 | €790,834 | +€16,689 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €448,360 | €423,413 | -€24,947 | -5.6% |
| Amounts payable after more than one year | 17 | €290,189 | €229,618 | -€60,572 | -20.9% |
| Financial debts | 170/4 | €290,189 | €229,618 | -€60,572 | -20.9% |
| Amounts payable within one year | 42/48 | €153,671 | €188,289 | +€34,618 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €63,597 | €60,572 | -€3,025 | -4.8% |
| Trade debts | 44 | €34,290 | €46,640 | +€12,350 | +36.0% |
| Suppliers | 440/4 | €34,290 | €46,640 | +€12,350 | +36.0% |
| Taxes, remuneration and social security | 45 | €29,165 | €63,199 | +€34,034 | +117% |
| Taxes | 450/3 | €16,796 | €45,039 | +€28,243 | +168% |
| Remuneration and social security | 454/9 | €12,369 | €18,160 | +€5,791 | +46.8% |
| Other amounts payable | 47/48 | €26,618 | €17,878 | -€8,740 | -32.8% |
| Accrued charges and deferred income | 492/3 | €4,500 | €5,506 | +€1,006 | +22.4% |
| Remuneration, social security and pensions | 62 | €96,290 | €111,318 | +€15,028 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,938 | €86,908 | +€16,970 | +24.3% |
| Other operating charges | 640/8 | €3,589 | €3,785 | +€196 | +5.5% |
| Gross operating margin | 9900 | €426,659 | €522,660 | +€96,002 | +22.5% |
| Operating profit (loss) | 9901 | €256,842 | €320,649 | +€63,807 | +24.8% |
| Financial income | 75/76B | €8,547 | €5,452 | -€3,096 | -36.2% |
| Recurring financial income | 75 | €8,547 | €5,452 | -€3,096 | -36.2% |
| Financial charges | 65/66B | €22,517 | €13,535 | -€8,983 | -39.9% |
| Recurring financial charges | 65 | €22,517 | €13,535 | -€8,983 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €242,872 | €312,566 | +€69,694 | +28.7% |
| Income taxes | 67/77 | €73,192 | €97,338 | +€24,145 | +33.0% |
| Profit (loss) for the period | 9904 | €169,679 | €215,228 | +€45,549 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €169,679 | €215,228 | +€45,549 | +26.8% |
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 15 October 2026 via checked.be.