GRACE CONSTRUCT: 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 CONSTRUCT
Largest movements
- Tangible fixed assets +€219,469
up €219,469 (+1413.1%), from €15,531 to €235,000
of which Land and buildings: +€235,000
- Receivables within one year -€39,897
down €39,897 (-29.3%), from €136,249 to €96,353
of which Trade receivables: -€35,270
- Cash +€16,931
new in 2025: €16,931
mainly Debts after one year (+€198,568) and Net result for the year (+€43,342)
- Debts after one year +€198,568
new in 2025: €198,568
- Profit (loss) carried forward +€43,343
up €43,343 (+53.8%), from €80,521 to €123,863
- Tax, wage and social debts -€28,522
down €28,522 (-89.9%), from €31,727 to €3,205
of which Remuneration and social security: -€15,740
- Other debts -€26,523
no longer reported in 2025 (was €26,523)
- Current portion of long-term debt +€20,508
new in 2025: €20,508
- Turnover +€79,748
up €79,748 (+32.9%), from €242,304 to €322,052
- Purchases and services +€40,854
up €40,854 (+59.5%), from €68,715 to €109,568
- Gross operating margin +€38,494
up €38,494 (+22.1%), from €173,990 to €212,484
- Taxes +€9,095
up €9,095 (+169.9%), from €5,353 to €14,448
- Financial charges +€8,447
up €8,447 (+5220.9%), from €162 to €8,609
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 | €157,118 | €350,284 | +€193,166 | +122.9% |
| Formation expenses | 20 | €2,000 | €2,000 | = | 0.0% |
| Fixed assets | 21/28 | €15,531 | €235,000 | +€219,469 | +1413.1% |
| Tangible fixed assets | 22/27 | €15,531 | €235,000 | +€219,469 | +1413.1% |
| Land and buildings | 22 | - | €235,000 | +€235,000 | |
| Furniture and vehicles | 24 | €15,531 | - | -€15,531 | |
| Current assets | 29/58 | €139,587 | €113,284 | -€26,303 | -18.8% |
| Amounts receivable within one year | 40/41 | €136,249 | €96,353 | -€39,897 | -29.3% |
| Trade receivables | 40 | €131,623 | €96,353 | -€35,270 | -26.8% |
| Other amounts receivable | 41 | €4,626 | - | -€4,626 | |
| Current investments | 50/53 | €3,338 | - | -€3,338 | |
| Cash at bank and in hand | 54/58 | - | €16,931 | +€16,931 | |
| Total equity and liabilities | 10/49 | €157,118 | €350,284 | +€193,166 | +122.9% |
| Equity | 10/15 | €84,661 | €128,003 | +€43,343 | +51.2% |
| Contributions | 10/11 | €4,140 | €4,140 | = | 0.0% |
| Capital | 10 | €4,140 | €4,140 | = | 0.0% |
| Issued capital | 100 | €11,000 | €11,000 | = | 0.0% |
| Uncalled capital | 101 | €6,860 | €6,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,521 | €123,863 | +€43,343 | +53.8% |
| Amounts payable | 17/49 | €72,457 | €222,281 | +€149,823 | +206.8% |
| Amounts payable after more than one year | 17 | - | €198,568 | +€198,568 | |
| Financial debts | 170/4 | - | €198,568 | +€198,568 | |
| Amounts payable within one year | 42/48 | €72,457 | €23,713 | -€48,744 | -67.3% |
| Current portion of amounts payable after more than one year | 42 | - | €20,508 | +€20,508 | |
| Trade debts | 44 | €14,207 | - | -€14,207 | |
| Suppliers | 440/4 | €14,207 | - | -€14,207 | |
| Taxes, remuneration and social security | 45 | €31,727 | €3,205 | -€28,522 | -89.9% |
| Taxes | 450/3 | €15,988 | €3,205 | -€12,782 | -80.0% |
| Remuneration and social security | 454/9 | €15,740 | - | -€15,740 | |
| Other amounts payable | 47/48 | €26,523 | - | -€26,523 | |
| Turnover | 70 | €242,304 | €322,052 | +€79,748 | +32.9% |
| Non-recurring operating income | 76A | €400 | - | -€400 | |
| Goods, raw materials, services and sundry goods | 60/61 | €68,715 | €109,568 | +€40,854 | +59.5% |
| Remuneration, social security and pensions | 62 | €149,796 | €142,203 | -€7,593 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,882 | €3,882 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,080 | - | -€2,080 | |
| Gross operating margin | 9900 | €173,990 | €212,484 | +€38,494 | +22.1% |
| Operating profit (loss) | 9901 | €18,232 | €66,399 | +€48,167 | +264.2% |
| Financial charges | 65/66B | €162 | €8,609 | +€8,447 | +5220.9% |
| Recurring financial charges | 65 | €162 | €8,609 | +€8,447 | +5220.9% |
| Profit (loss) for the period before taxes | 9903 | €18,070 | €57,790 | +€39,720 | +219.8% |
| Income taxes | 67/77 | €5,353 | €14,448 | +€9,095 | +169.9% |
| Profit (loss) for the period | 9904 | €12,718 | €43,342 | +€30,625 | +240.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,718 | €43,342 | +€30,625 | +240.8% |
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.