GRACE ASD: what changed
Two fiscal 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.
GRACE ASD
Largest movements
- Receivables within one year +€22,950
up €22,950 (+95.4%), from €24,052 to €47,002
- Tangible fixed assets -€5,990
down €5,990 (-52.8%), from €11,343 to €5,353
- Cash -€2,028
down €2,028 (-70.6%), from €2,872 to €845
mainly Receivables within one year (-€22,950) and Debts after one year (-€2,612)
- Deferred charges and accrued income -€777
down €777 (-3.9%), from €19,917 to €19,140
- Tax, wage and social debts +€8,851
up €8,851 (+73.7%), from €12,009 to €20,861
of which Remuneration and social security: +€7,785
- Trade debts +€6,528
up €6,528 (+65.2%), from €10,007 to €16,535
- Debts after one year -€2,612
down €2,612 (-33.1%), from €7,884 to €5,272
- Reserves +€1,218
up €1,218 (+5.1%), from €23,843 to €25,060
- Staff costs +€28,374
up €28,374 (+83.1%), from €34,131 to €62,506
- Gross operating margin +€15,719
up €15,719 (+25.8%), from €60,931 to €76,650
- Taxes -€1,517
down €1,517 (-32.0%), from €4,749 to €3,232
- Financial charges -€983
down €983 (-45.2%), from €2,173 to €1,191
- Depreciation -€972
down €972 (-14.0%), from €6,962 to €5,990
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.
Cash bridge derived
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 | €58,184 | €72,339 | +€14,156 | +24.3% |
| Fixed assets | 21/28 | €11,343 | €5,353 | -€5,990 | -52.8% |
| Tangible fixed assets | 22/27 | €11,343 | €5,353 | -€5,990 | -52.8% |
| Furniture and vehicles | 24 | €11,343 | €5,353 | -€5,990 | -52.8% |
| Current assets | 29/58 | €46,841 | €66,987 | +€20,146 | +43.0% |
| Amounts receivable within one year | 40/41 | €24,052 | €47,002 | +€22,950 | +95.4% |
| Other amounts receivable | 41 | €24,052 | €47,002 | +€22,950 | +95.4% |
| Cash at bank and in hand | 54/58 | €2,872 | €845 | -€2,028 | -70.6% |
| Deferred charges and accrued income | 490/1 | €19,917 | €19,140 | -€777 | -3.9% |
| Total equity and liabilities | 10/49 | €58,184 | €72,339 | +€14,156 | +24.3% |
| Equity | 10/15 | €25,843 | €27,060 | +€1,218 | +4.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,843 | €25,060 | +€1,218 | +5.1% |
| Distributable reserves | 133 | €23,843 | €25,060 | +€1,218 | +5.1% |
| Amounts payable | 17/49 | €32,341 | €45,279 | +€12,938 | +40.0% |
| Amounts payable after more than one year | 17 | €7,884 | €5,272 | -€2,612 | -33.1% |
| Financial debts | 170/4 | €7,884 | €5,272 | -€2,612 | -33.1% |
| Amounts payable within one year | 42/48 | €24,457 | €40,007 | +€15,550 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | €2,441 | €2,612 | +€171 | +7.0% |
| Trade debts | 44 | €10,007 | €16,535 | +€6,528 | +65.2% |
| Suppliers | 440/4 | €10,007 | €16,535 | +€6,528 | +65.2% |
| Taxes, remuneration and social security | 45 | €12,009 | €20,861 | +€8,851 | +73.7% |
| Taxes | 450/3 | €6,915 | €7,981 | +€1,067 | +15.4% |
| Remuneration and social security | 454/9 | €5,095 | €12,880 | +€7,785 | +152.8% |
| Remuneration, social security and pensions | 62 | €34,131 | €62,506 | +€28,374 | +83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,962 | €5,990 | -€972 | -14.0% |
| Other operating charges | 640/8 | €5,024 | €4,284 | -€740 | -14.7% |
| Gross operating margin | 9900 | €60,931 | €76,650 | +€15,719 | +25.8% |
| Operating profit (loss) | 9901 | €14,813 | €3,870 | -€10,942 | -73.9% |
| Financial income | 75/76B | €1,252 | €1,770 | +€518 | +41.4% |
| Recurring financial income | 75 | €1,252 | €1,770 | +€518 | +41.4% |
| Financial charges | 65/66B | €2,173 | €1,191 | -€983 | -45.2% |
| Recurring financial charges | 65 | €2,173 | €1,191 | -€983 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €13,891 | €4,450 | -€9,442 | -68.0% |
| Income taxes | 67/77 | €4,749 | €3,232 | -€1,517 | -32.0% |
| Profit (loss) for the period | 9904 | €9,142 | €1,218 | -€7,924 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,142 | €1,218 | -€7,924 | -86.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.