GRACE K N: 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.
GRACE K N
Largest movements
- Tangible fixed assets -€24,335
down €24,335 (-24.2%), from €100,358 to €76,022
of which Leasing and similar rights: -€20,825
- Receivables within one year -€21,400
down €21,400 (-46.3%), from €46,204 to €24,805
of which Trade receivables: -€18,663
- Deferred charges and accrued income -€5,720
down €5,720 (-60.6%), from €9,439 to €3,719
- Cash +€4,605
up €4,605 (+29.7%), from €15,502 to €20,107
mainly Other debts (+€35,559) and Depreciation (+€24,335)
- Profit (loss) carried forward -€69,575
down €69,575 (-32.1%), from -€216,536 to -€286,110
- Other debts +€35,559
up €35,559 (+89.4%), from €39,785 to €75,344
- Debts after one year -€17,243
down €17,243 (-26.3%), from €65,476 to €48,233
- Tax, wage and social debts +€16,212
up €16,212 (+19.2%), from €84,324 to €100,536
of which Remuneration and social security: +€13,244
- Trade debts -€12,805
down €12,805 (-71.4%), from €17,942 to €5,136
- Staff costs +€89,995
up €89,995 (+108%), from €83,258 to €173,254
- Gross operating margin +€63,573
up €63,573 (+78.8%), from €80,655 to €144,228
- Depreciation -€16,511
down €16,511 (-40.4%), from €40,847 to €24,335
- Financial charges -€1,867
down €1,867 (-12.3%), from €15,188 to €13,321
- Other operating charges -€1,818
down €1,818 (-32.4%), from €5,617 to €3,800
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 | €192,233 | €145,383 | -€46,850 | -24.4% |
| Fixed assets | 21/28 | €121,088 | €96,752 | -€24,335 | -20.1% |
| Tangible fixed assets | 22/27 | €100,358 | €76,022 | -€24,335 | -24.2% |
| Furniture and vehicles | 24 | €9,591 | €6,080 | -€3,510 | -36.6% |
| Leasing and similar rights | 25 | €90,767 | €69,942 | -€20,825 | -22.9% |
| Financial fixed assets | 28 | €20,730 | €20,730 | = | 0.0% |
| Current assets | 29/58 | €71,145 | €48,630 | -€22,515 | -31.6% |
| Amounts receivable within one year | 40/41 | €46,204 | €24,805 | -€21,400 | -46.3% |
| Trade receivables | 40 | €43,468 | €24,805 | -€18,663 | -42.9% |
| Other amounts receivable | 41 | €2,737 | - | -€2,737 | |
| Cash at bank and in hand | 54/58 | €15,502 | €20,107 | +€4,605 | +29.7% |
| Deferred charges and accrued income | 490/1 | €9,439 | €3,719 | -€5,720 | -60.6% |
| Total equity and liabilities | 10/49 | €192,233 | €145,383 | -€46,850 | -24.4% |
| Equity | 10/15 | -€31,536 | -€101,110 | -€69,575 | -221% |
| Contributions | 10/11 | €185,000 | €185,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,536 | -€286,110 | -€69,575 | -32.1% |
| Amounts payable | 17/49 | €223,768 | €246,493 | +€22,725 | +10.2% |
| Amounts payable after more than one year | 17 | €65,476 | €48,233 | -€17,243 | -26.3% |
| Financial debts | 170/4 | €65,476 | €48,233 | -€17,243 | -26.3% |
| Amounts payable within one year | 42/48 | €158,292 | €198,260 | +€39,968 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €16,241 | €17,243 | +€1,002 | +6.2% |
| Trade debts | 44 | €17,942 | €5,136 | -€12,805 | -71.4% |
| Suppliers | 440/4 | €17,942 | €5,136 | -€12,805 | -71.4% |
| Taxes, remuneration and social security | 45 | €84,324 | €100,536 | +€16,212 | +19.2% |
| Taxes | 450/3 | €35,737 | €38,705 | +€2,968 | +8.3% |
| Remuneration and social security | 454/9 | €48,588 | €61,831 | +€13,244 | +27.3% |
| Other amounts payable | 47/48 | €39,785 | €75,344 | +€35,559 | +89.4% |
| Remuneration, social security and pensions | 62 | €83,258 | €173,254 | +€89,995 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,847 | €24,335 | -€16,511 | -40.4% |
| Other operating charges | 640/8 | €5,617 | €3,800 | -€1,818 | -32.4% |
| Gross operating margin | 9900 | €80,655 | €144,228 | +€63,573 | +78.8% |
| Operating profit (loss) | 9901 | -€49,067 | -€57,160 | -€8,093 | -16.5% |
| Financial income | 75/76B | €1 | €907 | +€907 | +153,647% |
| Recurring financial income | 75 | €1 | €907 | +€907 | +153,647% |
| Financial charges | 65/66B | €15,188 | €13,321 | -€1,867 | -12.3% |
| Recurring financial charges | 65 | €15,188 | €13,321 | -€1,867 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€64,255 | -€69,575 | -€5,319 | -8.3% |
| Income taxes | 67/77 | €571 | - | -€571 | |
| Profit (loss) for the period | 9904 | -€64,826 | -€69,575 | -€4,748 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,826 | -€69,575 | -€4,748 | -7.3% |
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 25 October 2026 via checked.be.